FULL DISCLOSURE: This is sponsored content for Lithium Chile.
Lithium Chile (TSXV: LITH) is reporting progress on the exploration of its flagship asset, the Salar de Arizaro project in Argentina. The progress follows a drill program conducted on the northeastern portion of the project.
Drilling in the northeast consisted of a single drill hole, ARDHH-08, which is said to have encountered brine rich formations in a region not previously drilled. Assay results from the hole include a hit of 180 mg/l lithium at 50 metres, along with a hit of 690 mg/l lithium at 200 metres.
The hole was drilled to a depth of 606 metres, with a brine-rich sandy formation having been encountered at a depth of 200 metres. Drilling was conducted in an area of the project that was not previously included in the projects resource estimate, enabling the potential for resource expansion at the project.
READ: Lithium Chile Reports After-Tax NPV(8%) For Arizaro Of US$1.1 Billion
Additional depth-specific sampling has been recommended by Lithium Chile’s qualified person as a result of the variability in grades encountered. A new drill hole, ARDDH-09, meanwhile is now underway at the project.
“The results from this new hole signify an important step in our strategic roadmap, propelling us closer towards maximizing the full potential of our claims. We are confident in the Arizaro project’s potential to become a premier lithium carbonate producer, and we’re energized by the promise of continued progress,” commented Steve Cochrane, CEO of Lithium Chile.
A pre-feasibility study for the Arizaro project meanwhile is scheduled to be released in April.
Lithium Chile last traded at $0.70 on the TSX Venture.
FULL DISCLOSURE: Lithium Chile is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Lithium Chile. The author has been compensated to cover Lithium Chile 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.
