- Lithium Chile (LITH) has commenced drilling a production test well on its Arizaro property
- Lithium Chile’s wholly-owned Argentinian subsidiary, Argentum Lithium has been legally incorporated and registered
- The initial production test well will be drilled to a depth of 500 metres and is anticipated to take 60 days to complete
- The production test well drilling will commence the week of August 23
- Lithium Chile Inc is engaged in the acquisition and development of mineral properties
- Lithium Chile Inc. (LITH) opened trading at C$0.39 per share
Lithium Chile (LITH) has commenced drilling a production test well on its Arizaro property in Salta Province, Argentina.
Steve Cochrane, President and CEO of Lithium Chile commented,
“I am extremely pleased at the speed with which our Argentinian management team has been able to plan and execute on our Arizaro production test well. They have assembled a group of service providers that are regarded as the best in Salta province and I am confident they will bring this project in successfully on time and on budget. Given the immense size and potential of the Arizaro prospect this is truly a game changing opportunity for Lithium Chile”
Highlights
- A definitive agreement to acquire 60 per cent interest in Arizaro property has now been executed.
- Lithium Chile’s wholly-owned Argentinian subsidiary, Argentum Lithium has been legally incorporated and registered;
- Indigenous Community Approval: Production test program approved and supported by the Indigenous community of Tolar Grande;
- Infrastructure construction underway: SMG Group hired to build an access road and drill pad for production well, 17 km access road completed;
- Drilling Rig ‘ready to start’: Drilling contractor, Andina Perforaciones, has been contracted to work on the Arizaro property and is currently mobilizing the drill rig;
- Pandemic not affecting timetable – the timetable is currently unaffected by Covid restrictions
Road and infrastructure construction commenced on August 9, 2021 and was completed on August 20. Seventeen kms of road and drill pad have been completed, fuel tanks have been set up and brine pits have been dug. The production test well drilling will commence the week of August 23, 2021.
The initial production test well will be drilled to a depth of 500 metres and is anticipated to take 60 days to complete.
Geophysics show that the target brine aquifer identified by the prior exploration well is between 300 and 500 metres deep. Samples are planned for every 50 metres. After the production well is completed a downhole pump will be installed and a planned 30-day pump test is planned. This pump test is designed to provide data on flow rates, recharge capacity and lithium grade of the brine produced. The data collected will determine the commercial potential of the lithium prospect.
Lithium Chile is advancing a lithium property portfolio consisting of 68,000 hectares covering sections of 12 lithium prospective Salars in Chile and now, 23,300 hectares in Argentina.
Lithium Chile Inc. (LITH) opened trading at C$0.39 per share.
