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Lithium Chile to Begin Drilling Ollague Prospect- Recent Well Sampling Exceeds 1200 mg/l Lithium
Calgary, Alberta--(Newsfile Corp. - June 20, 2018) - Lithium Chile Inc. (TSXV: LITH) (OTCQB: L...
About this update from Lithium Chile Inc
[{"type":"text","content":"Lithium Chile to Begin Drilling Ollague Prospect- Recent Well Sampling Exceeds 1200 mg/l LithiumCalgary, Alberta--(Newsfile Corp. - June 20, 2018) - Lithium Chile Inc. (TSXV: LITH) (OTCQB: LTMCF) (\"Lithium Chile\" or the \"Company\") is pleased to announce that it has received written consent from the community of Ollague to begin an exploration drilling program on its Ollague project. With drill mobilization now underway, Lithium Chile expects drilling to begin shortly. The program will consist of four holes drilled to a minimum 250 metres (m) or deeper based on drilling conditions and brine content. Data collection will include lithology and depth-specific geochemical samples. Brine sampling will be completed using both drive point and hydraulic double packer systems, which have been tested and proved to provide a true depth-specific sample in addition to flow and porosity characteristics. Lithium Chile previously completed a transient electromagnetic survey (TEM) covering 25 square kilometres of the Ollague project (see news release dated April 3, 2018). Analysis indicates several continuous conductive units over much of the property. In addition, the survey indicated these conductive units to be several open-ended horizontal zones varying from 20 to over 200m in thickness and within 20 to 120m of surface. The Company believes the zones reflect saline aquifers (resistivity values of generally less than three ohms). Highly conductive readings have generally been found to indicate a high content of lithium brine in most other salar basins in the area. SAMPLE RESULTS ON OLD WATER WELLS RETURN 1220 MG/L LITHIUMA recently completed sampling program from a series of shallow water wells drilled to test a near surface aquafer in the central sector of Salara Ollague yielded significant lithium values. Sampling procedure consisted of bailing the wells, allowing them to refill and sampling the fresh flow. One well, just outside Lithium Chile's property border was drilled to 110m depth and lithium concentration of the water sample taken from this well assayed 1220 mg/l. This well appears to have penetrated the top of the thicker more extensive conductive horizon indicted by our TEM surveys and the prime target of the current drill program.Ollague Project Highlights3500 hectares on the Salar de Ollague.Located near the town of Ollague an...