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Lithium Chile Partners With Major European Mining Group, Eramet to Explore Four if its Chilean Properties
(TheNewswire) CALGARY, ALBERTA / TheNewswire / March 5, 2024 – Lithium...
About this update from Lithium Chile Inc
[{"type":"text","content":"Lithium Chile Partners With Major European Mining Group, Eramet to Explore Four if its Chilean Properties\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 \n \n \n \n \n CALGARY, ALBERTA /\n \n \n TheNewswire /\n \n \n March 5,\n2024 – Lithium Chile Inc.\n \n \n (TSXV:LITH)\n(OTC:LTMCF)\n \n \n (“\n \n \n Lithium Chile\n \n \n ” or\nthe “\n \n \n Company\n \n \n ”) is pleased to announce it has entered into a Farm-In\nagreement (the “\n \n \n Agreement\n \n \n ”) with Eramet, a renowned European\nmining company recognized as a global leader in metal extraction and\ntransformation.\n \n \n \n \n \n \n The signing of the\nAgreement is proceeding in parallel with the strategic process being\nundertaken by PI Financial Corp. This synchronized approach\nunderscores the Company’s commitment to maximizing value in all\naspects of its operations.\n \n \n \n \n The partnership with Eramet signifies a pivotal step\nfor Lithium Chile as it leverages the extensive expertise and\ncapabilities of a distinguished industry leader to expedite\nexploration efforts on four of the Company’s Chilean properties.\nLlamara, Aguilar, Rio Salado and Aquas Caliente are included in the\nAgreement which collectively cover an expansive area exceeding\n40,000-hectares, showcasing significant potential for mineral\nexploration and development.\n \n \n \n \n THE AGREEMENT\n \n \n \n \n Eramet will undertake an exploration program, carried\nout in three separate phases over the next 3 to 4 years. The total\nprojected exploration program is in the order of ~USD $20 million.\nUpon completion of each phase, Eramet shall earn share capital in the\nJoint Venture holding the mining tenements, totaling up to 70% at the\nend of phase 3 with an option to reach 100% equity.\n \n \n \n \n Lithium Chile will be entitled to a bonus\n(“\n \n \n Success Bonus\n \n \n ”), pre-agreed by the parties, based on the amount of\nLithium Carbonate Equivalent resources delineated, in accordance with\na completed NI 43-101\n \n \n or similar instrument.\n \n \n \n \n \n \n \n \n \n \n \n Lithium Chile & Eramet, Joint Venture Properties\n \n \n \n \n \"Eramet’s unparalleled expertise and credibility\nfurther enhances our position in the mineral industry&#x...