Lithium Chile Pre-Awarded CHASCHA SUR Concession Adjacent To Arizaro Project, Securing Key Water Resource
CALGARY - Lithium Chile Inc. ("Lithium Chile" or the "Company"), is pleased to announce that it has been pre-awarded the "Mining Tender Nº 03/24 for the Study, Prospecting, Exploration, and eventual Exploitation of the Exclusive Zones of Special Interest CHASCHA SUR - Salar de Arizaro", located in the Province of Salta, Argentina. This important advancement represents a strategic milestone for the Company, as the CHASCHA SUR block is adjacent to its flagship Arizaro Project and hosts a freshwater resource critical to a future production plant. The anticipated concession of CHASCHA SUR by REMSa (Recursos Energéticos y Mineros de Salta S.A.) enhances the technical and economic viability of the Arizaro development, positioning it to meet its long-term production and sustainability goals. Currently, two applications for water use, submitted by the Company, are under review by the corresponding authority, the Secretariat of Water Resources of the Province of Salta.
"We are extremely pleased with the outcome of this tender," commented Michelle DeCecco, Vice President and COO of Lithium Chile. "The CHASCHA SUR block not only complements our existing footprint on the Arizaro Salar, but it directly addresses one of the most vital elements of any lithium production operation-fresh water, subject to its future granting by the Secretariat of Water Resources. This development underscores the project's valuation and reinforces it as a compelling acquisition opportunity."
The tender was conducted by REMSa, the provincial energy and mining corporation, through a public and competitive process. Lithium Chile's strong technical proposal and proven track record of responsible exploration and development were key to its success.
The Company is now preparing for the formal award and will provide further updates as the process advances. For competitive reasons details will be released at a future date.
ABOUT LITHIUM CHILE
Lithium Chile Inc. is an exploration company with a portfolio of 11 properties spanning 107,936 hectares in Chile and 29,245 hectares on the Salar de Arizaro in Argentina. The Company has successfully advanced its Arizaro project with the completion of an NI 43-101 compliant Resource Report followed by a Preliminary Economic Assessment and then a Prefeasibility Study, all of which are accessible on SedarPlus.ca under Lithium Chile's profile.
Lithium Chile's common shares are listed on the TSX-V under the symbol "LITH" and on the OTCQB Under the symbol "LTMCF".
To find out more about Lithium Chile, please contact Steven Cochrane, President and CEO via email: steve@lithiumchile.ca or Michelle DeCecco, COO via email: michelle@lithiumchile.ca or phone: 587-393-1990.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
FORWARD LOOKING STATEMENTS AND RISK FACTORS:
This news release may contain certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). Generally, forward-looking statements can be identified using forward-looking terminology such as "expected", "anticipated", "aims to", "plans to" or "intends to" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Such forward-looking statements are based on various assumptions and factors that may prove to be incorrect, including, but not limited to, factors and assumptions with respect to the general stability of the economic and political environment in which the Company operates and the timely receipt of required regulatory approvals.
Readers are cautioned that the foregoing risk factors are not exhaustive. Undue reliance should not be placed on the forward-looking statements because Lithium Chile can give no assurance that they will prove to be correct or that any of the events anticipated by forward-looking statements will transpire or occur, or if any of them do, what benefits Lithium Chile will derive therefrom. Similarly, the risk factors listed above are not exhaustive and other risk factors that have not been anticipated may become apparent as Lithium Chile advances with the formal award. Lithium Chile does not undertake to update any forward-looking statements herein, except as required by applicable securities laws. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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