- Lithium Chile (LITH) has commenced phase two drilling at its Salar de Arizaro Project in Argentina
- The six-month program consists of three 500 m step-out holes aimed at expanding the lithium resource and increasing grades on the property
- Testing samples on the maiden well returned values up to 555 mg/ls
- Lithium Chile is advancing a lithium property portfolio consisting of 69,200 hectares in Chile and 23,300 hectares in Argentina
- Lithium Chile (LITH) is up by 5.95 per cent trading at $0.89 per share
Lithium Chile (LITH) has commenced phase two drilling at its Salar de Arizaro Project in Argentina.
The six-month program consists of three 500 m step-out holes aimed at expanding the lithium resource and increasing grades on the property.
Well permitting and an environmental impact study are underway with drilling of the first well set for completion by the end of March.
Testing samples on the maiden well returned values up to 555 mg/ls. The well contains an initial resource estimate of 1.42M tonnes of lithium carbonate equivalent in the indicated and inferred resource categories.
“After such encouraging results on the NI 43-101 resource estimate of our maiden well, the important next steps for our company and its shareholders are to expand the lithium resource and prove the overall grade with the phase 2 drilling program on the Arizaro property,” stated Steve Cochrane, Lithium Chile’s President and CEO. “As a result of our deep relationships with the Argentina community, we have secured a drilling rig for the duration of the project.”
Lithium Chile is advancing a lithium property portfolio consisting of 69,200 hectares in Chile and 23,300 hectares in Argentina. It also mines for gold, silver and copper on five properties spanning 20,429 hectares.
Lithium Chile (LITH) is up by 5.95 per cent trading at $0.89 per share as of 12:48 pm EST.
