Lithium Chile has announced promising developments in its Phase Two program at Salar de Arizaro, achieving a lithium concentration of 340 mg/l, which is 14% higher than the previous resource grade. The company has completed two of its four planned exploration holes and has begun drilling its first production well. Additionally, a critical fresh water well has been completed, revealing a 100-meter aquifer. The firm has initiated metallurgical studies to optimize lithium extraction processes and is expanding its operational capacity with a mobile camp. An equity compensation plan has also been approved.
Lithium Chile has announced the initiation of its phase 2 drilling program at the Arizaro property, consisting of three 500-meter deep holes aimed at expanding lithium resources and improving grade. Following an initial resource estimate of 1.42 million tonnes of lithium carbonate, drilling is expected to commence by the end of March and last for six months. The company has also successfully exercised warrants, raising C$1,175,425 from 1,959,043 common shares. This progress comes as Lithium Chile continues to strengthen its lithium and other mineral portfolios across Argentina and Chile.