Lithium Chile finds brine targets at Atacama, Ollague

Apr 3, 2018

2018-04-03 08:10 ET – News Release

Mr. Steven Cochrane reports

LITHIUM CHILE IDENTIFIES MULTIPLE HIGH-PRIORITY TARGET AREAS AT SALAR DE ATACAMA AND SALAR OLLAGUE PROPERTIES, CHILE

Lithium Chile Inc. has identified multiple 20-to-25-plus-square-kilometre brine target areas at both its Atacama and Ollague lithium projects in Chile, where near-surface brine values of up to 1,330 milligrams per litre lithium and 1,140 mg/L lithium, respectively, have been discovered. These open-ended, low resistivity zones were identified by transient electromagnetic surveys (TEM) within the northwest-trending axis of a subbasin on the northeastern flank of the Salar de Atacama and the southwest arm of Salar Ollague. Importantly, these areas display the same geophysical characteristics as the lithium-rich aquifers at Salar de Atacama, home to the world’s largest and highest-grade lithium brine producers. Drilling is expected to commence April, 2018.

Project highlights:

High-priority targets: large multiple 20-to-25-plus-square-kilometre lithium brine target areas identified at Salar de Atacama property and Salar Ollague property;
Imminent drilling: drill program to commence in April, 2018, focusing on high-priority target areas;
Project size and grades: Atacama property covering 6,600 hectares of the northeastern flank of Salar de Atacama and contains near-surface lithium brine values up to 1,330 mg/L lithium; Ollague property covers 2,200 hectares of the southwestern arm of Salar Ollague and contains near-surface Li brine values up to 1,140 mg/L lithium;
Excellent chemistry: near-surface brines on both properties having excellent chemistry including an Li:K (lithium:potassium) ratio of 0.9 to 0.1 and an Mg:Li (magnesium:lithium) ratio of 2.6 to 7.1;
Close to infrastructure: located within the Salar de Atacama and the Andean lithium belt, both properties accessible year-round via a paved highway from the towns of San Pedro de Atacama and Calama.

These recently completed geophysical surveys indicate several open-ended horizontal zones varying from 50 to over 75 metres in thickness at Atacama and 20 to over 200 m in thickness at Ollague and within 20 to 120 metres of surface. The company believes the zones reflect saline aquifers (resistivity values of generally less than three ohms).

Steve Cochrane, president and chief executive officer of Lithium Chile, commented: “We are delighted with the discovery of such impressive drill target areas at Atacama and Ollague. The results also follow the recent discovery of a 60-square-kilometre target area at another of our top Chilean projects — Helados — where drilling will commence in April. We have an aggressive multiproject drill program planned for this year, which includes all three of these exciting projects and we look forward to sharing drill results as they come through.”

This news release has been reviewed by Terence Walker, PGeo, vice-president of exploration of the company and a qualified person as that term is defined in National Instrument 43-101.

About Lithium Chile Inc.

Lithium Chile is advancing a lithium property portfolio consisting of 140,100 hectares covering sections of 13 salars and one laguna complex in Chile. The properties include 56 square kilometres on the Salar de Atacama which hosts the world’s highest concentration lithium brine production and is currently the source of about 30 per cent of the world’s lithium production. Lithium Chile also owns a significant copper/gold/silver property portfolio consisting of 28,184 hectares over six different properties located in Chile.

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https://www.lithiumchile.ca/news/