Lithium Chile Reports 29.5 g/t Gold - Highest Gold Grade Assay to Date on Its Carmona Gold-Silver-Copper Property
Calgary, Alberta--(Newsfile Corp. - January 26, 2021) - Lithium Chile Inc. (TSXV: LITH) ("Lithium Chile" or the "Company") is pleased to announce results of 29.5 g/t gold from its third follow up exploration program on the southern half of the Central Anomaly on its 100% Carmona gold-silver-copper property. This phase of the exploration program was completed during the second week of January.
29.5 g/t gold, 52.8 g/t silver and 2.4% copper
Values range from 1.1 - 29.5 g/t gold, 2.7 - 52.8 g/t silver and 2 - 2.4% copper
Samples reported are from a 2 km sq. altered intrusive in the SW quadrant of the Central Anomaly.
Assays are awaited from the SE quadrant and north half of the Central Anomaly.
Total exploration target on the Central Anomaly covers an area 13 km sq of which the southern half has been explored to date.
These high grades of gold and silver come from an area adjacent to the north sector of the Central Anomaly where prior samples assayed as high as 26.2 g/t gold and 235 g/t silver. (Press Release dated September 3, 2020).
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Steve Cochrane, President and CEO of Lithium Chile commented: "I am pleased to announce these recent sample assays from our ongoing exploration program at Carmona. We continue to see excellent gold, silver and copper results from our recently completed 3rd phase exploration program on our Carmona property. While we remain fully committed to advancing our lithium projects the solid results, we are seeing on our Carmona gold property, gives us the option to continue advancing the project or look for a JV partner to carry the project forward. This gives the Company added flexibility on both the lithium and precious metal assets."
Mr. Terence Walker, M.Sc., P.Geo., qualified person within the meaning of National Instrument 43-101, has reviewed the contents of this news release. During the course of the exploration program, all samples were collected by experienced Lithium Chile staff. Each rock sample consisted of 1 -1.5 k of representative chips taken continuously from outcrop or across mineralized structures and was bagged and sealed on site. All samples were delivered by Lithium Chile's staff to the ALS prep-lab in La Serena for processing. ALS subsequently shipped a 30g sub-sample to their laboratory in Lima, Peru where they were analyzed for gold by fire assay pre-concentration, AA finish and 35 other elements, including copper and silver, by the ICP technique following Agua Regia digestion.
About Lithium Chile
Lithium Chile is advancing a lithium property portfolio consisting of 71,900 hectares covering sections of 10 salars and two laguna complexes in Chile.
Lithium Chile also owns 5 properties that are prospective for gold, silver and copper.
Exploration efforts are also continuing on Lithium Chile's Carmona property which lies in the heart of the Chilean Mega Porphyry copper, gold and silver belt.
Lithium Chile's common shares are listed on the TSX-V under the symbol "LITH" and on the OTC-BB under the symbol "LTMCF".
To find out more about Lithium Chile Inc., please contact Steven Cochrane, President and CEO via email: email@example.com or alternately, Terry Walker, VP Exploration at (011) 562 2455-6473 or via email: firstname.lastname@example.org.
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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 assay results and plans for follow up exploration activities.
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 news release are expressly qualified by this cautionary statement.
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