NRG Adds Second Drill at the Hombre Muerto North Lithium Project
HIGHLIGHTS
Core hole now at 222.5 meters in clastic sediments
10 brine samples to ALS Laboratories from first hole
Second rotary drill rig added and at 153 meters
Second hole to serve for pump testing
VANCOUVER, British Columbia, May 14, 2018 /PRNewswire/ -- NRG Metals Inc. ("NRG" or the "Company") (TSX-V: NGZ) (OTCQB: NRGMF) (Frankfurt: OGPN) the Company is pleased to report that it has mobilized a rotary drill to the Hombre Muerto North Lithium project to complement the diamond drill already at site. The rotary hole, which is located 15 meters east of the core hole currently underway, is to carry out pump testing. The project is located in the province of Salta, Argentina at the northern end of the prolific Hombre Muerto Salar, adjacent to FMC's producing Fenix mine and Galaxy Resources' Sal de Vida development stage project.
As of May 8, the rotary hole had advanced to a depth of 153 meters. The hole will be drilled to a depth of 300 to 400 meters, depending upon the results obtained in the core hole. The rotary hole is being drilled at a diameter of 12 inches, and upon completion, the hole diameter will be enlarged by reaming to a diameter of 17 inches, and 10-inch perforated casing will be installed so that pumping tests can be performed. If the results warrant, the hole can be utilized as a production well.
Meanwhile drilling is continuing with the core hole, and as of May 8, the hole had advanced to a depth of 222.5 meters. The hole continues to intersect clastic sediments consisting of conglomerate and poorly consolidated sandstone. Brine was encountered from the top of the hole, and as previously reported, brine samples have been collected every ten meters from the surface to a depth of 100 meters using double packer sampling equipment. The samples have been shipped to the Alex Stewart Laboratory in Jujuy, Argentina, and results are expected shortly. Once the hole reaches a depth of 300 meters, the interval from 300 meters to 100 meters will be sampled using double packer sampling equipment, and then drilling will resume. On site QA/QC for the sampling was directed by Cristian Avila of Montgomery and Associates, under the supervision of Mike Rosco, also of Montgomery and Associates, a Qualified Person under NI 43-101.
About the Company
NRG Metals Inc. is an exploration stage company focused on the advancement of lithium brine projects in Argentina. In addition to the Hombre Muerto Norte project, the Company is evaluating its 29,000 hectare Salar Escondido project in Catamarca province where the company recently completed a 400 meter rotary hole, as described in the Company's press release dated May 8, 2018. The diameter of the hole is currently being enlarged by reaming to install casing so that it can be sampled.
NRG Metals Inc. currently has approximately 111 million shares issued and outstanding, and trades on the TSX Venture Exchange under symbol NGZ, on the OTC QB Market under symbol NRGMF, and on the Frankfurt Stock Exchange under symbol OGPN. The Company currently has working capital of approximately CAD$4.0 million dollars.
The preparation of this press release was supervised by Mr. James K. Duff, a Licensed Professional Geologist and a Registered Member of the Society for Mining, Metallurgy and Exploration and a Qualified Person as defined under National Instrument 43-101. Mr. Duff approves the scientific and technical disclosure contained in this press release.
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. The transaction described in this news release is subject to a variety of conditions and risks which include but are not limited to: regulatory approval, shareholder approval, market conditions, legal due diligence for claim validity, financing, political risk, security risks at the property locations and other risks. As such, the reader is cautioned that there can be no guarantee that this transaction will complete as described in this news release. We seek safe harbor.
On behalf of the board of directors of NRG Metals Inc.:
Adrian F.C. Hobkirk
President and C.E.O.
T: Investors / Shareholders Call 855-415-8100 / Direct to Adrian Hobkirk 714-316-3272
E: [email protected]
W: www.nrgmetalsinc.com
SOURCE NRG Metals Inc.
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