Li3 Energy Reports Results from its Phase One Exploration Program

Li3 Energy, Inc.(OTCBB:LIEG) announced the first results from its Phase one exploration and drill program at Maricunga, Chile. The Company launched its the $18m program in August 2011 and completed the $8m first phase on schedule. Li3 hope to complete a NI 43-101 Technical Report by March or April and follow this with phase two of the program.

As quoted in the press release:

Six sonic boreholes for a total of 900m were drilled and completed to a depth of 150m each. Rock Drilling S.A. carried out reverse circulation well drilling with isolated brine sampling. A total of 884 meters of 6-inch monitoring wells were drilled and a total of 300 meters of 17 inch production wells were drilled. A total of 431 samples were taken during the drilling and were submitted to the University of Antofagasta in Antofagasta, Chile for analysis.

Li3, COO, Thomas Curin, said:

We are excited with the results of our Phase One program. With average concentrations of 1,240 mg/L Lithium and almost 9,000 mg/L Potassium, and confirmation of the brine chemistry, Li3 believes Maricunga ranks amongst the most attractive brine development projects worldwide. We are very proud to have completed the program on schedule despite some inclement weather conditions early in the program. We believe that the successful completion of this program has allowed Li3 to substantially close the gap and draw closer to its junior lithium mining peer group from a technical project development perspective. This progress is testament to the commitment of our employees, team of contractors and strategic partners.

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