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Lithium Chile Increases Resource by 81% - Bringing Total Indicated Resource to 1,337,000 and Inferred Resource to 1,250,000 Metric Tonnes of Lithium Carbonate Equivalent. Lithium Chile also Awarded "Lithium Company of The Year" at 2022 Mines and Money London Conference.
(TheNewswire) CALGARY, ALBERTA – TheNewswire - December 5, 2022 – Lit...
About this update from Lithium Chile Inc
[{"type":"text","content":"Lithium Chile Increases Resource by 81% - Bringing Total Indicated Resource to 1,337,000 and Inferred Resource to 1,250,000 Metric Tonnes of Lithium Carbonate Equivalent. Lithium Chile also Awarded \"Lithium Company of The Year\" at 2022 Mines and Money London Conference.\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 CALGARY, ALBERTA –\n \n \n TheNewswire -\n \n \n December 5, 2022 – Lithium Chile Inc.\n(“Lithium Chile”\n \n \n )\n(TSX:LITH), (OTC:LTMCF)\n \n \n is pleased to announce\nthe results of an updated resource report at the Salar de Arizaro.\n The update resulted in a significant increase to Lithium Chile’s\nlithium carbonate equivalent resource.  The increase is a result of\nthe success of its second production well. That second well, drilled\n3.6 kilometers away from the initial production test well, encountered\nsignificantly increased thickness in the brine reservoir between 343\nmeters and 598 meters of depth.\n \n \n \n \n HIGHLIGHTS:\n \n \n \n \n \n \n Total  Indicated and Inferred resource from second\nwell of 1,167,000 metric tonnes of lithium carbonate\nequivalent.\n \n \n \n \n \n \n Total Indicated resource from the first two wells is\n1,337,000 metric tonnes and Inferred resource is 1,250,000 metric\ntonnes for a total of 2,587,000 metric tonnes of lithium carbonate\nequivalent an 81% increase over the first well.\n \n \n \n \n \n \n The third production test well is expected to start\ndrilling within a week.\n \n \n \n \n \n \n The updated resource estimate was prepared by\nMontgomery and Associates, an independent engineering firm that has\nsupervised the drilling program such that all parameters necessary to\nmeet the requirements of NI 43-101 are fulfilled.\n \n \n \n \n CONTINUED DRILLING\n \n \n \n \n Lithium Chile is proceeding with a production test well\nprogram that involves a total of 4 production test wells.  Drilling\nof the third production test well slated to begin within the next\nweek.  It is noteworthy that Lithium Chile has designed the drilling\nprogram to include four production test wells in total.  While each\nindividual test well has a radius of investigation for resource\nestimate calculations, it is intended that upon completion of the\nfourth production test well, if successful...