FULL DISCLOSURE: This is sponsored content for First Lithium Minerals.
First Lithium Minerals (CSE: FLM) is one step closer to drill testing its wholly-owned OCA lithium project in northern Chile. The firm this morning indicated that it has received environmental approval to conduct a drill program from the Chilean government.
The approval follows the company submitting “Consulta de Pertinencia de Ingreso al SEIA del Proyecto de Sondajes OCA,” which was its application for governmental approval of its drilling project at the Salar de Ascotan. The Environmental Evaluation Service of Chile has indicated that the company does not need to enter the Environmental Impact Assessment System with its currently proposed program, thereby providing environmental approval to proceed.
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Selection of a qualified drilling contractor is currently underway for the planned drill program. The program is set to consist of up to five holes drilled to a depth of up to 500 metres. Brine sampling is to occur at 12 metre intervals under the program.
Following the approval, First Lithium entered into a Cooperation Agreement with the local community, which includes the Cebollar-Ascotan Indigenous Community, for the formation of a long term mutually beneficial partnership. The arrangement will provide for active site monitoring in the exploration area to ensure protection of the land and water.
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“Securing environmental approval and signing the community agreement are important milestones that effectively make our project drill-ready. Through this Agreement, First Lithium Minerals is confirming its commitment and dedication to the environmental and socio-economic sustainability of the Cebollar-Ascotan Indigenous Community,” commented Rob Saltsman, CEO of First Lithium.
First Lithium last traded at $0.10 on the CSE.
FULL DISCLOSURE: First Lithium Minerals is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of First Lithium Minerals. The author has been compensated to cover First Lithium Minerals on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.
