NRG Metals files Hombre Muerto North technical report
2017-10-16 12:59 ET - News Release
Mr. Adrian Hobkirk reports
NRG Metals Files Technical Report for Hombre Muerto North Project, Argentina
NRG Metals Inc. has filed a National Instrument 43-101 technical report dated Sept. 8, 2017, entitled "Technical Report for the Hombre Muerto North Project, Salta and Catamarca Provinces, Argentina" under the company's SEDAR profile and its website. The report was prepared by of Montgomery & Associates Consultores Limitada and authorized by Michael J. Rosko, MSc, PGeo, an independent qualified person under NI 43-101.
- brine chemistry results reveal high lithium values;
- geophysical SCAMT sections identify two large resistive anomalies;
- recommendation for further Eexploration to support a resource calculation;
- eight-hole drill program to test the expected lithium zone.
In summary, the surface brine chemistry sampling results for the project reveal high values of lithium when compared with other projects in the salars of the puna region, and are consistent with previously reported results for the Sal de Vida project (Houston and Jaacks, 2010; M&A and GAI, 2012). Geophysical CSAMT sections covering the Alba Sabrina, Natalia Maria and Tramo properties define two large resistivity anomalies that may represent deep lithium-bearing brine zones. Given these factors, and the acknowledgement of long-term lithium brine production in the salar by FMC Lithium at their Fenix mine and the brine mineral resource and reserve estimates by Galaxy Resources, M&A judges the project as a property of merit and warrants additional investigations in order to advance to a phase of exploration drilling, testing, and sampling and a level for preliminary economic assessment.
NRG plans to conduct an exploration program to support a mineral resource estimate for lithium on the project, and rapidly move to a development and production phase. An exploration drill program has been planned by the technical team, and will likely include up to eight diamond core holes. Following coring operations, large-diameter (10-inch to 16-inch borehole diameter) rotary-drilled production wells will be installed at the same locations as the diamond drill holes for conducting pumping tests and estimating brine extraction rates for well field development. Anticipated depths for the core holes will range from about 30 metres to 400 metres, with 400 metres as a maximum. The depth of the production wells will be determined based upon the results obtained from the diamond drilling. In addition , a vertical electrical sounding survey may be conducted at the Alba Sabrina property prior to drilling in order to confirm if the hole will be drilled.
Michael J. Rosko, MSc, PGeo, of Montgomery & Associates Consultores Limitada, an independent qualified person as defined by NI 43-101 guidelines, has participated in the preparation of this press release, and has reviewed and approved the technical content.
About NRG Metals Inc.
NRG Metals is an exploration stage company focused on the advancement of lithium brine projects in Argentina. In addition to the Hombre Muerto North project, the company is evaluating the Salar Escondido lithium project. The Salar Escondido comprises approximately 29,000 hectares. An exploration drill program is currently under way at this location. NRG Metals 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.
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