VANCOUVER, British Columbia,
June 14, 2018 /CNW/ -- 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 100 to 300 meters of the first core have been received, and
average 888 mg/L lithium with a relatively low Mg to Li ratio of
3.0 to 1.0. These values are very similar to those returned
for the first 100 meters of the hole, indicating the presence of a
remarkably consistent high-grade brine. The assay results are shown
in the table below.
The hole has been completed to the targeted depth of 401 meters,
and the drill has been moved approximately 2.2 kilometers to the
east where drilling on a second core hole is underway. As of
June 12, the hole had advanced to a
depth of 151 meters mostly in clastic sediments consisting of
poorly consolidated sandstone and conglomerate.
José de Castro, Chief Operating Officer of NRG Metals Inc.,
commented, "We are very excited about the outstanding results from
our first hole. The results continue to exceed our
expectations. These high grades and favorable Mg to Li ratios
have the potential to have a very positive impact on any future
capital and operating costs should the economic viability and
technical feasibility of the project be established. We are
very encouraged to see the entry of POSCO from South Korea into the Hombre Muerto basin with
their pending $ 280 million purchase
of the northern part of the Sal de Vida lithium project from Galaxy
Resources Ltd."
The rotary hole located 16 meters east of the core hole has been
completed at a depth of 393 meters, and the diameter is being
enlarged by reaming in order to install perforated casing for
pumping tests. If the results warrant, this hole can be utilized as
a production well.
The sampling was conducted with double packer equipment over
one-meter intervals approximately every ten meters depending upon
conditions in the hole. Samples were not collected from some
of the intervals below a depth of 160 meters due to restricted
fluid flow. 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 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
Galaxy Resources' Sal de Vida development stage project.
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. 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.
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: ahobkirk@nrgmetalsinc.com
W: www.nrgmetalsinc.com
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SOURCE NRG Metals Inc.