Business
Lithium Chile Completes Sale of Claims on Ollague Salar to Wealth Minerals in Exchange for 2,000,000 Shares of WML
(TheNewswire) CALGARY, ALBERTA – TheNewswire - June 23, 2022 ...
About this update from Lithium Chile Inc
[{"type":"text","content":"Lithium Chile Completes Sale of Claims on Ollague Salar to Wealth Minerals in Exchange for 2,000,000 Shares of WML\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n CALGARY, ALBERTA –\n \n \n TheNewswire\n-\n \n \n June 23, 2022\n \n \n –\nLithium Chile Inc. (“\n \n \n Lithium\nChile\n \n \n ” or the “\n \n \n Company\n \n \n ”) reports\nit has received TSX Venture Exchange (“TSXV”) acceptance of the\nSale Agreement (the “\n \n \n Agreement\n \n \n ”)\n \n \n (see news\nrelease dated May 3, 2022) with Wealth Minerals Ltd. (“\n \n \n Wealth\n \n \n ”) -\n(TSXV:WML\n \n \n )\n \n \n ;\n \n \n (\n \n \n OTC:WMLLF\n \n \n )\n \n \n ;\n \n \n (\n \n \n SSE:WMLCL\n \n \n )\n \n \n ;\n \n \n (\n \n \n Frankfurt:EJZN) to sell\n1,600 hectares hectares of a minority, non-core asset in the Ollagüe\nBasin.\n \n \n \n \n The transaction terms include a payment of 2,000,000\nshares of Wealth Minerals, with an additional payment of 1,000,000\nshares to the Company within twelve months if Wealth establishes\nwithin the acquired licenses either a resource with an average grade\nof 300 parts per million lithium content, or a test well on the\nacquired licenses that produces material which tests no less than 300\nparts per million lithium content. If Wealth does not conduct work\nnecessary to potentially determine a resource or does not have a test\nwell to produce material for lithium testing within twelve months,\nthen Wealth is obligated to pay 500,000 shares to Lithium Chile. If\nthe work necessary to potentially determine a resource or run a test\nwell is completed, but a resource or test well does not produce an\naverage grade higher than 300 parts per million lithium, then no\nfurther share payments are due by Wealth to the Company.\n \n \n \n \n About Lithium Chile\n \n \n \n \n Lithium Chile is advancing a lithium property portfolio\nconsisting of 79,700 hectares covering sections of 11 salars and 2\nlaguna complexes in Chile and 23,300 hectares in Argentina.\n \n \n \n \n Lithium Chile also owns 5 properties, totaling 22,429\nhectares that are prospective for gold, silver and copper. Exploration\nefforts are continuing on Lithium Chile’s Carmona gold/silver/copper\nproperty which lies in the heart of the Chilean mega porphyry gold/\nsilver/coppe...