NRG Announces Additional Results for Second Drill Hole at its Flagship Hombre Muerto North Lithium Project Second Pumping Well Started
Aug 23, 2018, 08:00 ET
VANCOUVER, British Columbia, Aug. 23, 2018 /PRNewswire/ --
HIGHLIGHTS
- NRG's second drill hole at the Hombre Muerto North project has been completed to a depth of 280.8 m, and the sample results demonstrate that excellent lithium values are present in the lower portion of the hole.
- Based on these encouraging results, as well as the excellent results from the pumping well located approximately 2.1 kilometers to the east, NRG has decided to drill a second pumping well adjacent to the second core hole. The target depth of this hole is 400 m.
NRG Metals Inc. ("NRG" or the "Company") (TSX-V: NGZ) (OTCQB: NRGMF) (Frankfurt: OGPN) is pleased to report additional assays from the second diamond drill hole at the Hombre Muerto North lithium project. The samples were taken from depths ranging from 91.0 to 230.5 m below surface, and these assays range from 779 to 507 mg/L lithium with low Mg to Li ratios ranging from 2.3 to 3.0. The average for the entire hole is 638 mg/L Lithium with a Mg to Li ratio of 2.65 to 1.0. The assay results for the additional samples are shown in the following table.
Host rocks are mainly poorly-consolidated sandstone from surface to 77 m, followed by a layer of compact halite from 77 to 139 m, poorly-consolidated sandstone from 139 to 166 m, and then intercalated halite and sandstone to 230.5 meters. The sample interval is not regular because it was difficult to collect samples due to caving of the hole. Nevertheless, these results confirm that brine containing high lithium grades is present from the surface to a depth of at least 230 m, the depth of the deepest sample.
Based upon these encouraging results, management decided to drill a second pumping well adjacent to this core hole. Equipment has been moved into place, and the contractor has commenced drilling to an anticipated target depth of 400 meters.
Jose de Castro, COO of NRG Metals Inc., commented, "We are extremely enthusiastic about the diamond drilling results, as well as the results from the pumping well. These results demonstrate the presence of high-grade lithium bearing brine across the breadth of our Tramo property. We look forward to completing the second pumping well and to fast tracking the project to production."
The sampling was conducted with double packer equipment over 1.0- to 1.5-m intervals, and the final sample from 228.5 to 230.5 m was collected using a bailer sampling device. Onsite QA/QC for the sampling was directed by Cristian Avila of Montgomery and Associates of Santiago, Chile under the supervision of Mike Rosko, also of Montgomery and Associates, a Qualified Person under NI 43-101. The samples were assayed by the Alex Stewart Laboratory in Jujuy, Argentina, which is the preeminent laboratory for lithium brine analysis in northern Argentina. Alex Stewart employed Inductively Coupled Plasma Optical Emission Spectrometry ("ICP-OES") as the analytical technique for the primary constituents of interest, including those shown in the table. Alex Stewart maintains a strict internal QA/QC program employing multiple standards, re-analyses by AA and calculation of ionic balances. NRG inserted one blank sample and one blind duplicate samples in the sample batch; all QA/QC results corroborate the analyses reported in this press release. In addition to the packer brine samples, sealed core samples have been collected, and these samples will be sent to a laboratory in the United States for brine release 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 the Sal de Vida development stage project being developed by Galaxy Resources Ltd.
About the Company
NRG Metals Inc. is an exploration stage company focused on the advancement of lithium brine projects in Argentina. NRG Metals Inc. currently has approximately 132 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.
Technical Disclosure
The preparation of this press release was supervised by Mr. Michael J. Rosko, a registered professional geologist in the states of Arizona (25065), California (5236), and Texas (6359), and a registered member of Society for Mining, Metallurgy, and Exploration (#4064687) and a Qualified Person as defined under National Instrument 43-101 with over 30 years of experience, with 10 years of direct experience with lithium brine deposits. Mr. Rosko 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. We seek safe harbor.
On behalf of the board of directors of NRG Metals Inc.:
Adrian F.C. Hobkirk
President and C.E.O.
Media Contact:
Investors / Shareholders
T:+1-855-415-8100
Adrian Hobkirk
T: +1-714-316-272
E: [email protected]
SOURCE NRG Metals Inc.