VANCOUVER, British Columbia, January 24, 2019 /PRNewswire/ --
NRG Metals Inc. ("NRG" or the "Company ") (TSX-V: NGZ) (OTCQB: NRGMF) (Frankfurt: OGPN) is pleased to announce that it has selected Knight Piésold Consulting (KP) and JDS Energy & Mining (JDS) to prepare a National Instrument 43-101 Preliminary Economic Assessment (PEA) on its flagship Hombre Muerto Norte (HMN) Lithium Project, located in Salta Province, Argentina.
The HMN Project is strategically located in the Hombre Muerto Salar, an area of active lithium production. The development strategy for HMN focuses on production of 5,000 tonnes per year of lithium carbonate, with the potential for expansion. A site visit was completed in December 2018 and the project evaluation and report are progressing in a timely manner. The report is expected to be completed during Q1 2019.
KP is a global consulting firm that provides specialized services to the mining, power, water resources, infrastructure, and oil and gas industries. The company focuses on creating value at every stage of a project through quality driven, sustainable, and cost-effective solutions. Established in South Africa in 1921, KP has expanded their reach into a global network of over 800 professionals based in offices in North and South America, Europe, Africa, Australia, and Asia. KP has extensive experience working in Argentina, with offices in Mendoza, San Juan and Neuquen.
JDS is an engineering, project, and construction management firm composed of a diverse set of skilled and highly experienced mining and construction professionals. With a proven record of providing clients with fit-for-purpose solutions and value delivery, JDS has acquired a reputation for delivering and executing project plans on budget, on time, and most importantly, safely. The JDS team prides itself on delivering project concepts from inception to full operations, providing clients with technical engineering support, onsite operations services and EPCM.
NRG recently filed a report titled 'Initial Measured Lithium and Potassium Resource Estimate Hombre Muerto North Project, Salta and Catamarca Provinces, Argentina'. The report was completed in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects, on behalf of the Company by independent consultants Montgomery and Associates, of Santiago Chile. The report identifies 571,000 tonnes of Lithium Carbonate Equivalent at a grade of 756 parts per million lithium in the combined Measured and Indicated categories, with a low magnesium to lithium ratio of 2.6 to 1.0 (October 3, 2108 press release) that will be used in the completion of the PEA.
The HMN Project is strategically located in the Hombre Muerto Salar, an area of active lithium production by FMC at the Fenix lithium mine, some 12 kilometers south of the project area. The project is surrounded by ground now owned by POSCO, a Korean based lithium producer, as a result of its US$ 280 million purchase of the area from Galaxy Resources Ltd, an Australian based producer. Galaxy is also moving their portion of the Hombre Muerto Salar, the Sal de Vida Project, to lithium production.
On behalf of the board of directors of NRG Metals Inc.:
Adrian F. C. Hobkirk,
President and C.E.O.
The TSX Venture Exchange has not reviewed the content of this news release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this news release.
This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward looking statements. The reader is cautioned not to place undue reliance on forward-looking statements. We seek safe harbor.
T: Investors / Shareholders Call 855-415-8100 / Direct to Adrian Hobkirk 714-316-3272
SOURCE NRG Metals Inc.