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Lithium Chile Expands into Argentina with 850 Mg/l+ Lithium Property with Agreement to Earn into the 233 Sq Km Salar De Arizaro
(TheNewswire) C algary, Alberta – TheNewswire - M ...
About this update from Lithium Chile Inc
[{"type":"text","content":"Lithium Chile Expands into Argentina with 850 Mg/l+ Lithium Property with Agreement to Earn into the 233 Sq Km Salar De Arizaro \n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n C\n \n \n algary, Alberta\n \n \n –\n \n \n TheNewswire -\n \n \n M\n \n \n ay\n \n \n 17,\n2021\n \n \n – Lithium Chile Inc. (“\n \n \n Lithium Chile\n \n \n ” or\nthe “\n \n \n Company\n \n \n ”)\n \n \n (TSXV:LITH)\n(OTC:LTMCF)\n \n \n is pleased to announce that it has\nadded an Argentinian lithium salar property to its portfolio by\nentering into a binding Letter of Intent (“\n \n \n LOI\n \n \n ”) with SMG\nS.R.L. of Jujuy, Argentina.  The LOI enables Lithium Chile to earn up\nto an 80% interest in the 233 Sq Km Salar De Arizaro located in Salta\nProvince, Argentina.  The LOI gives Lithium Chile the opportunity to\nearn a large and dominant land position in the center of the largest\nundeveloped salar in Argentina.\n \n \n \n \n HIGHLIGHTS\n \n \n \n \n \n \n - 850 mg/l lithium grades already\nestablished from a three-hole drill program conducted in 2019;\n \n \n \n \n - Arizaro exploration target covers\n233 Sq Km;\n \n \n \n \n - Surface area of Arizaro prospect\nlarger than the Salar de Pastos Grande (Millennial Lithium) and the\nSalar de Pozuelos (Litica Project);\n \n \n \n \n - Lithium Chile will be one of the\nonly junior companies with active programs in two of the lithium\ntriangle countries.\n \n \n \n \n \n \n The 2019 three-hole exploration program identified a\nhigh-grade lithium zone in the aquifer.  The size and potential of\nthe Salar De Arizaro is well known. Major players Eramine (Eramet SA)\nand LITICA (formerly LSC Lithium) are neighbors in the salar.\n \n \n \n \n Lithium Chile views the Arizaro project as\ntransformational for the Company.  Management believes that because\nsuch strong assay results have already been returned, the project will\nenable Lithium Chile to rapidly transition from an exploration stage\ncompany to a production stage company.\n \n \n \n \n The LOI contemplates that Lithium Chile will earn a 60%\ninterest in the Arizaro prospect over a term of three years in stages.\n The first stage involves the drilling and production testing of a\nwell to be completed in the first six months at an estimated cost of\nup to US $800,000, an...