Business
Lithium Chile Completes Second Production Well on their Salar de Arizaro Project, Argentina - A 255 Metre Thick Brine Aquifer Identified - Doubles Thickness of Brine Aquifer Intersected in the First Production Well and has Been Advised the Chengze Investment is Under Review
(TheNewswire) CALGARY, ALBERTA – TheNewswire - November 3, 202...
About this update from Lithium Chile Inc
[{"type":"text","content":"Lithium Chile Completes Second Production Well on their Salar de Arizaro Project, Argentina - A 255 Metre Thick Brine Aquifer Identified - Doubles Thickness of Brine Aquifer Intersected in the First Production Well and has Been Advised the Chengze Investment is Under Review\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n CALGARY, ALBERTA –\n \n \n TheNewswire -\n \n \n November 3, 2022 – Lithium Chile Inc.\n(“Lithium Chile”\n \n \n or the\n \n \n “Company”)\n \n \n (TSX:LITH) (OTC:LTMCF)\n \n \n is pleased to provide an operational update on its Phase Two\ndevelopment program at Salar de Arizaro (“\n \n \n Arizaro\n \n \n ”) in\nArgentina. The Company reports the completion of its second production\nwell, Argento 2, drilled to a total depth of 649 metres. The brine\naquifer identified was 255 metres thick; a significant increase from\nthe 132 metre aquifer on its maiden well previously reported in its\ninitial NI 43-101 report (see NR February 8, 2022), with an indicated\nand inferred resource of 1,420,000 tonnes of lithium carbonate\nequivalent (LCE).\n \n \n \n \n PHASE TWO PROGRAM HIGHLIGHTS:\n \n \n \n \n \n \n The second production well, Argento 2, was drilled 3.6\nkilometers southeast of the first production well, Argento 1, which\nwas completed in September 2021.\n \n \n \n \n \n \n Argento 2 encountered the target brine aquifer between\n343 metres and 598 metres. This equates to a total aquifer of 255\nmetres thick, or 123 metres thicker than the Company’s initial\nArgento 1 discovery.\n \n \n \n \n \n \n The Company is confident that the proximity between\nArgento 1 and Argento 2, combined with almost double the thickness of\na lithium bearing formation than Argento 1, the estimated lithium\nresource should be as good or better than the maiden well.\n \n \n \n \n \n \n Using a diamond drill rig, Argento 2 was initially\ndrilled to a depth of 450 metres.  The Company then used its\ncontracted rotary drilling rig, set up at the same location, drilling\nto a total depth of 649 meters using a 9 7/8-inch tricone bit.\n \n \n \n \n \n \n Samples taken between 360 metres to 450 metres from the\ndiamond drill hole on Argento 2 returned assays results as high as 350\nmg/l lithium.\n \n \n \n \n \n \n It is the Comp...