Lithium Chile (TSX-V: LITH) owns seventeen projects for Li-ion rich salars in Chile, making it the largest landlord of lithium salars after the Chilean government and SQM. The portfolio comprises 166.950 hectares of Chilean salaries acquired for 3 $ / ha. Key projects have high-quality lithium and positive sampling chemistry and community approval for drilling.
Lithium Chile receives environmental approval for Turi exploration drilling
Lithium Chile Inc. (TSXV: LITH) said Friday that the Chilean Environmental Impact Assessment Authority (SEIA) has approved the Canadian miner's Turi exploration drill program.
Lithium Chile is the largest landowner of lithium salars in Chile alongside the Chilean government and SQM. The company owns seventeen projects comprising 166.950 hectares with six salars.
Surface access was successfully negotiated with the original Turi population at the beginning of 2019. With their support and input, 2019 developed an exploration drill program in June, Lithium Chile said in a media release.
The company is now ready to submit a notice of work to the National Geological and Mining Service and expects to begin preparing for the first hole in its drill program during the last week of October and to move its rig to Turi in the first week of November.
Turi covers 13.000 hectares (130 square kilometers) or about 95% of the Salar de Turi in the heart of the Chilean side of the Lithium Triangle. In Spring 2019, a 5-line TEM geophysical survey of the property identified a large 63+ square kilometer, 200-350+ meter thick, highly conductive anomaly that began approximately 150 meters below the surface. Near-surface brine samples above the TEM anomaly contain lithium values in the range of up to 590 mg / l and moderate to low magnesium-lithium ratios of 7,8.
On Friday afternoon, the shares of Lithium Chile rose by over 6% and the trading volume was almost twice as high as the daily average. The company has a market capitalization of 32,6 million C $.
Lithium Chile / ISE - October 2019
