VANCOUVER, British Columbia,
Aug. 23, 2018 /CNW/ --
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: ahobkirk@nrgmetalsinc.com
W: www.nrgmetalsinc.com
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SOURCE NRG Metals Inc.