Lithium Chile drills up to 270 mg/l Li at Ollague
LITHIUM CHILE Inc. has encountered lithium-bearing brines in three additional drill holes at its wholly owned Ollague project in Chile. Results for OLL-01-18,
OLL-02-18, OLL-03-18 and OLL-04-18 are outlined in the attached table. Drilling continues to confirm the reliability of transient electromagnetic geophysical profiles in identifying the brine carrying highly conductive zones. In addition, the drilling suggests that lithium grades increase with depth.
(See LITH Table 1 on page 14)
Holes OLL-03-18 and OLL-04-18 were drilled on the northern block, approximately 10 kilometres from hole OLL-01-18. These holes were located in the centre of the salar, rather than on the edge like holes OLL-01-18 and OLL-02-18. The transient electromagnetic surveys indicated that the conductive target zone was deeper in this sector of the north block. These brines tested lithium grades starting at 150 milligrams per litre and increasing to 270 milligrams per litre when the holes reached their 250-metre contracted depth. These grades were comparable with the grades seen in the upper 50 metres to 70 metres of the same transient electromagnetic zone encountered in hole OLL-0118. These improving grades as holes OLL-03-18 and OLL-04-18 were drilled deeper reinforce the company’s decision to test the deeper limits of the aquifer by drilling a fifth hole.
(See LITH Table 2 on page 15)
Hole OLL-02-18 was drilled two kilometres south of hole OLL-01-18 and entered the top of the structure at approximately 130 metres. Grades were increasing from 100 milligrams per litre to 230 milligrams per litre at 170 metres when the drill rods became jammed in the loose sand and gravel of the formation. Subsequent efforts to release the rods, involving the pumping of large quantities of fresh water into the hole, rendered further samples meaningless. Eventually, the hole was abandoned, as the rods were unable to be freed. Steve Cochrane, president and chief executive officer of Lithium Chile, commented: “We are extremely pleased that our drilling program continues to show good lithium grades. The fact these grades improve with the depth of the holes justify the company’s decision to target the much deeper zones on hole five. It is also important to note that with the drilling of holes one and two, we have identified a foursquare-kilometre zone on our southern block, and with holes three and four, a 10-square-kilometre zone on our larger northern block with significant lithium grades.”
Hole No. 5 has been drilled to a total depth of 354 metres, where complications with the drilling forced the abandonment of the hole. Samples were collected from 170 metres, with the last sample having been taken at 350 metres. These samples will now be sent to ALS for analysis.
Lithium Chile has mobilized a rig from Ollague to the Salar de Coipasa in anticipation of the company’s next drilling program, which is getting under way soon. Coipasa, at 12,900 square kilometres, is Lithium Chile’s second-largest property in the Andean lithium belt.
Terence Walker, MSc, PGeo, a qualified person within the meaning of National Instrument 43-101, has reviewed the contents of this news release. Individual brine samples were collected at 20-metre intervals downhole by means of a double-valve bailer after the hole had been flushed. The brine samples were collected in new one-litre screw top sterile bottles that were sealed and tagged at the sample site. All samples were shipped to ALS Patagonia Laboratories, La Serena, Chile, where they were prepared and, subsequently, shipped to the ALS Laboratory in Vancouver, B.C., Canada, where the brine analyses were performed.
About Lithium Chile Inc.
Lithium Chile is advancing a lithium property portfolio consisting of 155,800 hectares covering sections of 14 salars and one laguna complex in Chile.
We seek Safe Harbor.
Colin Bird, Kenneth David Booth, Kenneth Lee DeWyn, Albert Jeffrey Kroontje, Douglas Murray Stuve, Terrence Walker
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