Lithium Chile announces significant resource increase at Salar de Ariazaro

Highlights:

• Total indicated and inferred resource from second well of 1 167 000 t of lithium carbonate equivalent.
• Total indicated resource from the first two wells is 1 337 000 t and inferred resource is 1 250 000 t for a total of 2 587 000 metric t of lithium carbonate equivalent an 81% increase over the first well.
• The third production test well is expected to start drilling within a week. The updated resource estimate was prepared by Montgomery and Associates, an independent engineering firm that has supervised the drilling programme such that all parameters necessary to meet the requirements of NI 43-101 are fulfilled.

Lithium Chile is proceeding with a production test well programme that involves a total of four production test wells. Drilling of the third production test well slated to begin soon. It is noteworthy that Lithium Chile has designed the drilling programme to include four production test wells in total. While each individual test well has a radius of investigation for resource estimate calculations, it is intended that upon completion of the fourth production test well, if successful, the area between the wells will thereafter be included in resource estimate calculations – all in accordance with the requirements of NI 43-101.

Steve Cochrane, President, and CEO, commented:

“This is a significant resource increase as a result of just one additional well – almost doubling the size of the initial resource. This success gives us great confidence in the areal extend of the Salar de Arizaro – one of the largest in Argentina. What is important to note is that should our next two test wells be successful in establishing a continuation of the brine reservoir, the resources attributable to Lithium Chile may be even more significantly increased as a result of filling in the area between the test wells. We look forward to reporting the results of the third production well in the near future – and those of the fourth test well thereafter”.

Read the article online at: https://www.globalminingreview.com/mining/06122022/lithium-chile-announces-significant-resource-increase-at-salar-de-ariazaro/