- Lithium Chile Inc. (LITH) extended its Chilean Salar de Llamara Project by 21,700 hectares and provided operational updates on its properties
- A surface sampling program has been completed on the project, and assays are pending
- The company is currently completing a 74-kilometre geophysical program over the new expansion claims to define a known highly conductive target
- Lithium Chile is negotiating access rights for its Salar de Los Morros property
- It is also starting surface sampling on its Aguas Calientes property this month
- Lithium Chile Inc. (LITH) is down 2.63 per cent, trading at $0.74 per share as of 1:55 p.m. EST
Lithium Chile Inc. (LITH) extended its Chilean Salar de Llamara Project by 21,700 hectares and provided updates on its Chilean properties.
According to the company, the project is highly prospective, with previous surface samples that showed high cesium and uranium values and a previous well that returned notable lithium values. A surface sampling program has been completed, and assays are pending.
Lithium Chile stated it is currently completing a 74-kilometre geophysical program over the new expansion claims to define a known highly conductive target. Pending the program’s results, a three to five-well exploration drill program is planned for the project during the second half of 2023.
Additionally, the company shared its plans for a three to five-well exploration drill program on its Salar de Los Morros property. Lithium Chile is currently in the process of negotiating access rights with the Chilean Military, which will determine the start date for its 1,500-metre exploration program. It aims to begin the program during its second quarter.
Detailed surface sampling will begin this month on the company’s 2,500-hectare Aguas Calientes property. Existing permits on part of the claims for borax mining are expected to accelerate the company’s permitting process.
Lithium Chile is also continuing discussions with interested parties for joint venture opportunities on several of its Chilean properties, including Coipasa. In relation to this, negotiating access rights with the indigenous community of Ancovinto is a priority for Lithium Chile for this year.
Lithium Chile Inc. (LITH) is down 2.63 per cent, trading at $0.74 per share as of 1:55 p.m. EST.
