| Announcement Date: | 2022-02-08 |
|---|---|
| Announcement Type: | Deposit Estimation |
| Announcement Code: | NI43-101 |
| Company name: | Lithium Chile Inc. |
| Project name: | Arizaro de Salar |
| Location: | Argentina |
| Commodities: | Lithium |
| Highlight: | Initial Resource Estimate for Project |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | CALGARY, ALBERTA, February 8, 2022 – Lithium Chile Inc. (“Lithium Chile” or the “Company”) is pleased to report an initial lithium (“Li”) resource statement for its first test well in the Arizaro de Salar project. The NI 43-101 resource statement, detailed in Table 3.2 below, includes 1,420,000 tonnes of lithium carbonate (“Li2CO3”) equivalent in the Indicated and Inferred Resource categories. Steve Cochrane, President and CEO of Lithium Chile, commented on the maiden resource for the Arizaro de Salar Project: “We are very excited to see a strong NI 43-101 resource estimate from our hydrogeological consultants. The Company has adopted an aggressive plan which includes a follow up phase 2 drilling program consisting of three, 500-metre-deep exploration holes aimed at expanding the lithium resource and improving the grade on the Arizaro property.” An initial resource estimate just in a limited portion of concessions totaled 1,420,000 tonnes of lithium carbonate equivalent consisting of 895,000 tonnes of Indicated Resources together with 535,000 tonnes of Inferred lithium carbonate equivalent. The resource report suggests that resources in the measured category will be established by additional drilling which will also increase the indicated and inferred volumes appreciably. |
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