Lithium Chile (LITH) has reported an initial lithium resource statement for its first test well in the Arizaro de Salar project located in the Salta province of Argentina.
The NI 43-101 resource statement includes 1,420,000 tonnes of lithium carbonate (Li2CO3) equivalent in the Indicated and Inferred Resource categories.
Steve Cochrane, President and CEO of Lithium Chile sat down with Dave Jackson to discuss the estimate.
“We are very excited to see a strong NI 43-101 resource estimate from our hydrogeological consultants. The company has adopted an aggressive plan which includes a follow up phase 2 drilling program consisting of three, 500-metre-deep exploration holes aimed at expanding the lithium resource and improving the grade on the Arizaro property.”
Lithium Chile is advancing a lithium property portfolio consisting of 69,200 hectares covering sections of 10 salars and two laguna complexes in Chile and 23,300 hectares in Argentina.
Lithium Chile Inc. (LITH) is down 9.35 per cent on the day, trading at C$0.97 per share at 10:40 am EST.