TSX Venture Exchange: LITH
OTC-QB: LTMCF
CALGARY, Jan. 16, 2019 /CNW/ - Lithium Chile
Inc. ('Lithium Chile" or the "Company") is pleased to announce
that the local Turi community has approved the Company's plans to
run additional TEM geophysical surveys and based on these results
the Company may drill up to three exploration holes on the Turi
Prospect. Turi is one of the Company's priority prospects for
the following reasons:
- Near surface samples show grading of up to 590 mg/l of
lithium;
- The 100% owned 76 km2 property covers the entire
salar basin;
- There are two active geothermal springs on the property
supplying primary recharge to the basin with lithium concentrations
up to 170 mg/l; and
- The property is accessible with good infrastructure
It is anticipated that the TEM program will commence in late
January or early February.
Steve Cochrane President and CEO
of Lithium Chile, commented "We are pleased to have the approval
to carry out additional exploration at Turi. The support of the
Turi community has made this possible and is greatly appreciated. I
look forward to seeing the results of the combined talents of our
exploration team under Terry Walker
and our lithium operations team under Jose
de Castro"
Terry Walker V.P. Exploration
of Lithium Chile, commented "I am very pleased that we can now
advance another of our prospective lithium properties. The efforts
of our Chilean team and the support of the Turi community allow us
to continue our efforts towards building shareholder value in
Lithium Chile."
Qualified Person
Mr. Terence Walker, M.Sc., P.Geo,
qualified person within the meaning of National Instrument 43-101,
has reviewed the contents of this news release.
About Lithium Chile
Lithium Chile is advancing a
lithium property portfolio consisting of 159,950 hectares covering
sections of 14 salars and 1 laguna complex in Chile.
Lithium Chile's common shares
are listed on the TSX-V under the symbol "LITH" and on the
OTC-QB under the symbol "LTMCF".
On Behalf of the Board of Directors,
LITHIUM CHILE INC.
Steven Cochrane
President & CEO
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
Forward Looking Statements
This news release may
contain certain forward-looking information and forward-looking
statements within the meaning of applicable securities legislation
(collectively "forward-looking statements"). Generally,
forward-looking information can be identified by the use of
forward-looking terminology such as "expects", "believes", "aims
to", "plans to" or "intends to" or variations of such words and
phrases or statements that certain actions, events or results
"will" occur. In particular, this news release contains
forward-looking statements relating to, among other things,
management of the Company's views regarding the current and
subsequent drilling programs.
You are cautioned that the following list of material factors
and assumptions is not exhaustive. Specific material factors
and assumptions include, but are not limited to: the general
stability of the economic and political environment in which the
Company operates; the timely receipt of required regulatory
approvals; the ability of the Company to obtain future financing on
acceptable terms; currency, exchange and interest rates; operating
costs; the success the Company will have in exploring its prospects
and the results from such prospects. Accordingly, readers
should not place undue reliance on forward-looking
statements. The Company does not undertake to update any
forward-looking statements herein, except as required by applicable
securities laws. All forward-looking statements contained in
this press release are expressly qualified by this cautionary
statement.
SOURCE Lithium Chile Inc.