Lithium Chile samples 1,230 mg/L Li, 15,200 mg/L K

Mar 2, 2021

2021-03-02 11:03 ET – News Release

Mr. Steve Cochrane reports

LITHIUM CHILE ANNOUNCES RESULTS FROM ITS RECENT LAGUNA BLANCA LITHIUM AND CESIUM SAMPLING PROGRAM

Lithium Chile Inc. has released assay results from the company’s recently completed follow-up exploration program on its Salar de Laguna Blanca and completion of the reconnaissance TEM geophysical survey at Salar de Los Morros.

SALAR de LAGUNA BLANCA SAMPLING HIGHLIGHTS:

– Initial assays from surface brine samples in the follow up grid area assayed 1035 to 1230 mg/l lithium plus 13500 to 15200 mg/l potassium.
– Cesium assays from these brines were higher than the detection limit of the analytical technique used and are being re assayed.
– Initial sediment sample assays define a 4+ km sq area enriched in cesium ranging from 75 to 690 ppm and averaging 240 ppm which is open to expansion to the NW, NE and SE.

SALAR de LOS MORROS TEM PROGRAM:

The Company announces that its reconnaissance TEM geophysical survey at its Los Morros lithium property was completed February 25 th with results expected mid-March. The TEM survey is intended to define locations for three exploration holes which the Company will file for permission to drilling immediately after reviewing the TEM survey results.

Steve Cochrane President and CEO comments: “We are very encouraged by the results we see from our expanded Laguna Blanca exploration program. We continue to see very high grades of lithium from the brine sampling but also Cesium values above the cutoff limits within the current 4+ km sq anomaly identified to date. This once again highlights the advantage of having a number of targets over a diverse portfolio of prospects.”

TERRY WALKER VP EXPLORATION PROVIDES SALAR de COIPASA UPDATE

Due to COVID-19 the courts in Chile are still restricted to handling serious crime and emergency health and welfare cases. The court had previously stated they would grant Lithium Chile the right of access to carry out our proposed drill program at Coipasa. The amount of financial compensation the Company is obligated to pay to the local indigenous community, who holds title to the surface rights, is determined by the courts. Pre-COIVID-19, Lithium Chile was required to have a court certified assessor visit the property and evaluate its commercial value as part of said compensation award process. Unfortunately, the court had not set the compensation award before the COVID-19 restrictions were imposed but it is expected to be under review in March.

Qualified Person

Mr. Terence Walker, M.Sc., P.Geo., qualified person within the meaning of National Instrument 43-101, has reviewed and approved the contents of this news release. Individual brine samples were collected by experienced Lithium Chile staff using a double valve bailer system, placed in sterile 250 ml vials that were sealed and tagged on site. Individual sediment samples were also collected by Lithium Chile staff using a 1.3m hand auger, placed in sample bags which were tagged and sealed on site. All samples were transported by Lithium Chile staff to ALS Patagonia Laboratories, La Serena, Chile, where they were prepared and the brine samples subsequently shipped to ALS’s Vancouver, Canada laboratory and the sediments samples to ALSs Lima, Peru where the analysis were performed.

About Lithium Chile

Lithium Chile is advancing a lithium property portfolio consisting of 71,900 hectares covering sections of 10 salars and two laguna complexes in Chile.

Lithium Chile also owns 5 properties that are prospective for gold, silver and copper. Exploration efforts are continuing on Lithium Chile’s Carmona gold/silver/copper property which lies in the heart of the Chilean mega porphyry gold/ silver/copper belt.

Lithium Chile’s common shares are listed on the TSX-V under the symbol ” LITH ” and on the OTC-BB under the symbol ” LTMCF “.

We seek Safe Harbor.

https://lithiumchile.ca/