VANCOUVER, British Columbia,
July 10, 2018 /CNW/ -- NRG
Metals Inc. ("NRG" or the "Company") (TSX-V: NGZ)
(OTCQB: NRGMF) (Frankfurt: OGPN) is pleased to report the initial
assays for samples from the second diamond drill hole at the Hombre
Muerto Lithium project. The samples were taken from near surface to
a depth of 61.5 m below
surface. The samples average 719 mg/L lithium with a very low
Mg to Li ratio ranging from 2.1 to 3.3. These values are similar to
the results obtained in the first diamond drill hole located 2.1
kilometers to the east. The assays results are shown in the table
below.
Drilling in this hole has advanced to a depth of 226.5 m with a planned depth of 400 m. 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 the current bottom of the hole at 226.5 m.
Adrian Hobkirk, CEO of NRG Metals
Inc., commented, "We are encouraged to find high lithium grades in
the first part of the second hole, and these results demonstrate
the presence of lithium bearing brine across our Tramo property.
We will have a more complete picture once this hole is
completed and when we have the results of the pumping test from the
large diameter hole completed adjacent to the first core hole."
The sampling was conducted with single packer equipment over 1.0
to 2.5 m intervals approximately
every 20 meters. Brine is present from the surface and below the
elevation of the last sample reported from 59.0 to 61.5 m. NRG believes that the three samples
taken together are representative of the brine material from
surface to at least 61.5 m. NRG
considers that the host rock stratigraphy is horizonal, and the
sampled interval represents the true thickness because the drill
hole is vertical. 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 sample in the samples 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 Lithium Project being developed by Galaxy Resources
Ltd. Galaxy recently announced the pending sale of their
northern portion of Sal de Vida to
POSCO of South Korea, for $ US 280
million.
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. 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.