CALGARY, ALBERTA, August 12, 2020 – Lithium Chile Inc. (“Lithium Chile” or the “Company”) is pleased to announce it has been notified by Apollo Gold (APGO-V) that the TSX has approved their joint venture agreement on the Apolo and Sancarron prospects as announced in an Apollo Gold press release dated April 2, 2020. The approval will allow for Apollo’s exploration program to commence as soon as possible, and the second payment of $50,000 to be made to Lithium Chile.
As announced in a Lithium Chile press release dated April 8th, the company entered into a joint venture agreement, dated March 25 2020, where Apollo gold had the right to earn up to 90% in the Apolo and Sancarron concessions by making total cash payments to Lithium Chile of $1,350,000 and incurring an aggregate $5,000,000 of expenditure on the properties over a maximum of 5 years.
It is currently anticipated that Apollo Gold will launch an initial work program on the properties in November of 2020 to coincide with spring in Chile. This initial program is designed to test and expand on prior sampling programs undertaken on the properties.
Steve Cochrane, President, and CEO of Lithium Chile comments, “We are excited now that Apollo Gold has received final approval from the TSX on our joint venture agreement. We look forward to Apollo’s work program as it will help support our belief in the exploration potential of not only Apolo and Sancarron but all of our properties.”
About Lithium Chile
Lithium Chile is advancing a lithium property portfolio consisting of 110,280 hectares covering sections of 11 salars and two laguna complexes in Chile.
Lithium Chile also owns the Carmona and La Fortuna gold-silver-copper properties that lie on the western flank of Chile’s Mega porphyry copper-gold belt.
Lithium Chile’s common shares are listed on the TSX-V under the symbol “LITH” and on the OTC-BB under the symbol “LTMCF”.
To find out more about Lithium Chile Inc., please contact Steven Cochrane, President, and CEO via email: firstname.lastname@example.org or alternately, Jeremy Ross, Business Development, at (604) 537-7556 or via email: email@example.com. Chilean contact is Terry Walker, VP Exploration at (011) 562 2455-6473 or via email: firstname.lastname@example.org.