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LITHIUM CHILE INC Welcomes Signing of Definitive Agreement with Monumental Minerals Corp to Jointly Develop Lithium Chiles Laguna Blanca Property
(TheNewswire) CALGARY, ALBERTA – TheNewswire - March 31, 2022 ...
About this update from Lithium Chile Inc
[{"type":"text","content":"LITHIUM CHILE INC Welcomes Signing of Definitive Agreement with Monumental Minerals Corp to Jointly Develop Lithium Chiles Laguna Blanca Property\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n CALGARY, ALBERTA –\n \n \n TheNewswire\n-\n \n \n March 31, 2022\n \n \n –\n \n \n Lithium Chile Inc.\n \n \n (TSXV:LITH) (OTC:LTMCF)\n \n \n (“\n \n \n Lithium\nChile\n \n \n ” or the “\n \n \n Company\n \n \n ”)\n \n \n is pleased to announce that the Company has entered\ninto an arm’s length definitive option agreement dated March 30,\n2022 (the “\n \n \n Option\nAgreement\n \n \n ”) with Monumental Minerals Corp.\n(“\n \n \n Monumental\n \n \n ”) (TSX-V: MNRL; FSE: BE5) to earn up to 75% of the 5,200\nhectare Salar De Laguna Blanca project (the “\n \n \n Laguna Project\n \n \n ”)\nlocated near the town of San Pedro de Atacama, Chile (see news release\ndated March 9, 2022).\n \n \n \n \n The Laguna Project is located within the prolific\nlithium triangle, a zone within the central Andes high desert that\nincludes Chile, Argentina, and Bolivia. This zone is estimated to\ncontain more than half of the world’s lithium supply beneath the\nmany salt flats, also known as salars, that are common to the\nregion.\n \n \n The Laguna Blanca property consists of\n23 exploration concessions totaling 5,200 hectares, 100% owned by\nLithium Chile through its wholly owned Chilean subsidiary Minera\nKairos Chile Limitada. The Laguna Project includes both active and\npaleo salar brines and salts.\n \n \n \n \n Steve Cochrane, President & CEO comments,\n \n \n “We are extremely pleased\nto have this joint venture with Monumental on our Laguna Blanca\nprospect. With our energies currently focused on expanding our lithium\nresource on Salar de Arizaro property in Argentina, this joint venture\nwill ensure work continues on one of our Chilean properties.  The\nexperience and expertise Monumental’ s team gained from working on\nAdvantage Lithium’s project in Argentina will be invaluable in\nadvancing the Laguna Blanca project.”\n \n \n \n \n Terms of the Option Agreement\n \n \n \n \n In order to exercise the option to acquire a 75%\ninterest in the Laguna Project, Monumental must issue common shares,\nmake certain staged cash...