NRG Announces Complete Results for First Drill Hole at its Flagship Hombre Muerto North Lithium Project
June 28, 2018 / Vancouver, BC / NRG Metals Inc. (“NRG” or the “Company”) (TSX-V: NGZ) (OTCQB: NRGMF) (Frankfurt: OGPN) the Company is pleased to report that assays for double packer samples collected over the interval from 300 to the bottom of the first hole at a depth of 401 m. The samples for this interval average 918 mg/L lithium with a relatively low Mg to Li ratio of 3.0 to 1.0. These values are very consistent with the assays received for the samples from surface to a depth of 300 m, and the average for the entire 400 m hole is 900 mg/L lithium with an average magnesium to lithium ratio of 3.0. The assay results for the interval from 300 to 401 m are shown in the table below.
Drilling is proceeding on a second core hole located approximately 2.2 kilometers to the west of the first core hole. As of June 26, the hole had advanced to a depth of 208.0 m. Poorly consolidated sandstone similar to what was drilled in the first core hole was encountered to a depth of 77 m, followed by a layer of compact halite before passing back into mostly poorly-consolidated sandstone from 139 m to the bottom of the hole. Drilling is continuing, although the rate of advance has been slowed by the poorly-consolidated nature of the clastic sediments.
José de Castro, Chief Operating Officer of NRG Metals Inc., commented “We are very enthusiastic about the results at Hombre Muerto Norte. We are seeing exceptionally high grades in a clastic host rock that appears to have good permeability, and the brine chemistry is very favorable. The production of lithium from brine involves concentration of lithium contained in the brine by evaporation. The Hombre Muerto brine is unsaturated, which means that it should be possible to concentrate the brine more quickly using less pond area than would be the case for a typical saturated brine. Furthermore, the sulfate and magnesium ratios are low compared to other salar brines, and this means that the consumption of lime and other reagents should be relatively low compared to other lithium projects. These characteristics imply favorable operating and capital cost profiles, should the economic and technical feasibility of the project be established.”
The sampling was conducted with single packer equipment over 1-m intervals, approximately every 20 meters. On site 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 three blind duplicate samples in the sample batch, and all QA/QC results corroborate the analyses reported in this press release. In addition to the packer samples, sealed core samples have been collected throughout the hole, and these samples have been 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. In addition to the Hombre Muerto Norte project, the Company is evaluating its 29,000-hectare (72,000 acre) 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 June 27, 2018.
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.
On behalf of the board of directors of NRG Metals Inc.:
Adrian F.C. Hobkirk President and C.E.O.
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. 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.
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