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Lithium Chile Expands Exploration Program on Its Laguna Blanca Lithium-Cesium Property
Calgary, Alberta--(Newsfile Corp. - January 13, 2021) - Lithium Chile Inc. (TSXV: LITH) (OTC P...
About this update from Lithium Chile Inc
[{"type":"text","content":"Lithium Chile Expands Exploration Program on Its Laguna Blanca Lithium-Cesium PropertyCalgary, Alberta--(Newsfile Corp. - January 13, 2021) - Lithium Chile Inc. (TSXV: LITH) (OTC Pink: LTMCF) (\"Lithium Chile\" or the \"Company\") is pleased to announce that it has recommenced exploration efforts at its Laguna Blanca lithium/cesium property where a geological team is currently conducting a program of salts and liquids sampling. The program is intended to extend the initial sampling program which covered less than 10% of the 4600-hectare property but returned high lithium and cesium grades from surface salt-sediments to a depth of 1.2 meters as reported by ALS Labs.HIGHLIGHTS:Lithium assay grades range from 1125 to 1450 ppmCesium assay grades range from 112 to 688 ppmThe high grades of both lithium and cesium in the solid samples has made an advanced exploration program on the Laguna Blanca property a priority for Lithium Chile as the lithium and cesium grades were some of the highest grades seen by the Company to date. The U.S. Geological Survey designated cesium as a strategic mineral in May 2018. Demand and prices for cesium have risen recently, primarily driven by its use in 5G mobile networks. There are currently only three producing cesium mines in the world, all of which are controlled by Chinese companies.More importantly, the ability for Lithium Chile to get their exploitation team on the ground at Laguna Blanca reflects the easing of Covid 19 restrictions that have been in place in Chile since early in 2020. Easing of these restrictions will allow Lithium Chile to advance its other lithium projects as well.Steve Cochrane, President and CEO of Lithium Chile, commented: \"It gives me great pleasure to be able to advise shareholders that we are once again working on our lithium prospects. The proximity of our lithium properties, in the heart of the lithium triangle, to Bolivia and Argentina resulted in a year-long access restriction to our properties by the Chilean Government. The Government's wish to reduce the risk of cross border contamination resulted in these road and border closures. The lifting of these access restrictions coupled with the recent rise in Chinese lithium carbonate prices from 40,000 RMB/ton ($6,000US/ton) to 60,000 RMB/ton ($9,000 US/ton) over the last 15 weeks gives us a reason to be optimistic for ...