Lithium Chile Hits Brine-Rich Formations at Arizaro Project
Calgary, Alberta -- February 28, 2024 -- NewsGenie -- Lithium Chile Inc. (TSXV:LITH) (OTC:QB) has announced promising results from its Salar de Arizaro Project in Argentina. Drilling at the northeastern claims, including sampling from hole ARDDH-08, reveals significant progress.
One completed diamond drill hole at the Arizaro Project encountered brine-rich formations in previously undrilled areas, suggesting potential resource upside. A new drill hole, ARDDH-9, is currently underway.
ARDDH-08 reached a depth of 606 meters, hitting a brine-rich, sandy formation at 200 meters. Samples sent to Alex Stewart Laboratory reported grades of 180mg/lLi over 50 meters and 690mg/lLi at 200 meters.
These results mark important exploration progress for the TOLAR 6 property, where the company currently lacks mineral resource estimates. Additional depth-specific sampling has been recommended to account for lithium grade variability.
President & CEO Steve Cochrane stated, "The results signify an important step in maximizing the full potential of our claims. We are confident in the Arizaro project's potential to become a premier lithium carbonate producer."
Jos\u00e9 de Castro, Lithium Chile\u2019s President for South America, highlighted the team's experience and commitment to creating value for stakeholders and communities. The company is progressing towards a revised resource report and feasibility study to support production economics.
Leandro Sastre, a geology professional with over 20 years of experience, has reviewed and approved the scientific and technical content of this release.
Lithium Chile holds a property portfolio of 111,978 hectares in Chile and 29,245 hectares in Argentina. The company's NI 43-101 Report and Preliminary Economic Assessment are available on SedarPlus.ca. Lithium Chile also owns 22,529 hectares prospective for gold, silver, and copper.
Lithium Chile\u2019s common shares are listed on the TSX-V under the symbol \u201cLITH\u201d and on the OTC-QB under the symbol \u201cLTMCF\u201d.