Lithium Chile Inc. (LITH, LTMCF) has announced a 24% increase in the lithium resource at its Salar de Arizaro Project, Argentina, following an updated NI 43-101 compliant resource report. The project now boasts 4,122,000 tonnes of Lithium Carbonate Equivalent (LCE).

Lithium Resource Expansion Highlights

The total LCE resource now stands at 4,122,000 tonnes, a 24% increase.
The breakdown of the increased resource includes:
261,000 tonnes in the measured category.
2,237,000 tonnes in the indicated category.
1,624,000 tonnes in the inferred category.
Notably, diamond drill hole ARDDH-08 saw an impressive average lithium grade of 538 mg/L, contributing significantly to the resource expansion.

Strategic Developments in Argentina

With the successful submission of an Environmental Impact Study for Block IV, Lithium Chile anticipates starting its exploration drill program in the second half of 2024. Drilling operations continue to assess the fresh-water aquifer, crucial for the project’s production phase.

Quality Assurance and Project Update

Michael Rosko, a registered geologist and qualified person, has reviewed the scientific and technical content, affirming the project’s advancement. Lithium Chile aims to update its 2023 Prefeasibility Study Report by end of the second quarter to confirm reserve volumes and outline a production profile.

Company Outlook

Steve Cochrane, CEO, highlighted the project’s substantial progress, attributing success to the team’s hard work. The Arizaro project’s significant resource increase underscores its potential as a world-class lithium source.

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