Lithium Chile drills up to 270 mg/l Li at Ol­lague

Stockwatch Daily - - MINES & METALS - Mr. Steven Cochrane re­ports

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.

Qual­i­fied per­son

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

(LITH) Shares: 101,182,254

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