Lithium Chile Updates Turi Drilling Program and Exploration Programs on Track Despite Chilean Protests
Calgary, Alberta--(Newsfile Corp. - October 31, 2019) - Lithium Chile Inc. (TSXV: LITH) (OTCQB: LTMCF) ("Lithium Chile" or the "Company") is pleased to announce that on October 25, 2019 they filed the Turi project exploration drilling Notice of Work with SERNAGEOMIN. This is the final document required in the approvals process and paves the way for the upcoming exploration program on Turi. The Company now anticipates preparatory work for the first hole in their drill program will be initiated next week and mobilization of the drilling rig to Turi during the second or third week of November.
Lithium Chile has contracted Big Bear Drilling ("Big Bear") from La Serena, Chile for their Turi exploration program. Big Bear is currently organizing a team to travel to the Turi prospect area to arrange accommodation, supply and support services in advance of the Company's upcoming exploration program.
Lithium Chile has contracted Montgomery and Associates Consultores Limitada ("Montgomery and Associates") from Santiago to assist with both the drilling and sampling program on Turi because of their extensive experience in lithium exploration. Montgomery and Associates has developed most of the current Resources and Reserves definitions used for lithium brines in National Instrument 43-101 reports. They will assure QA/QC control in our sampling techniques.
To date, Lithium Chile's operations in Chile have been minimally impacted by the recent protests with only some delays in approvals as most government offices have been closed for the better part of a week. Lithium Chile's current exploration plans are on schedule as the Company continues to work with the local stakeholders to ensure both the Communities and the environment are respected and that all of the participants will benefit from Lithium Chile's programs.
Steve Cochrane, President and CEO of Lithium Chile, comments, "We are extremely pleased that our Turi exploration continues to advance in spite of the current challenges facing Chile. The support of our community partners is extremely important to us as we want be part of the solution going forward."
About Lithium Chile
Lithium Chile is advancing a lithium property portfolio consisting of 166,950 hectares covering sections of 14 salars and 2 laguna complexes in Chile.
Lithium Chile's common shares are listed on the TSX-V under the symbol "LITH" and on the OTC-QB under the symbol "LTMCF".
To find out more about Lithium Chile Inc., please contact Steven Cochrane, President and CEO via e mail: firstname.lastname@example.org or alternately, Jeremy Ross, VP Business Development, at (604) 537-7556 or via email: email@example.com . Chilean contact is Terry Walker, VP Exploration at (011) 562 2455-6473 or via email: firstname.lastname@example.org
On Behalf of the Board of Directors,
LITHIUM CHILE INC.
President & CEO
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward Looking Statements
This news release may contain certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects", "believes", "aims to", "plans to" or "intends to" or variations of such words and phrases or statements that certain actions, events or results "will" occur. In particular, this news release contains forward-looking statements relating to, among other things, management of the Company's views regarding the current and subsequent drilling programs.
You are cautioned that the following list of material factors and assumptions is not exhaustive. Specific material factors and assumptions include, but are not limited to: the general stability of the economic and political environment in which the Company operates; the timely receipt of required regulatory approvals; the ability of the Company to obtain future financing on acceptable terms; currency, exchange and interest rates; operating costs; the success the Company will have in exploring its prospects and the results from such prospects. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements herein, except as required by applicable securities laws. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
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