Drilling and Sampling Underway at Hombre Muerto North Lithium Project
VANCOUVER, British Columbia, May 3, 2018 /CNW/ -- NRG Metals Inc. ("NRG" or the "Company") (TSX-V: NGZ) (OTCQB: NRGMF) (Frankfurt: OGPN) the Company is pleased to report that drilling at the Salar Hombre Muerto North lithium project is underway and progressing as planned.
The first diamond core hole has been advanced to a depth of 105 meters with a target depth of up to 350 meters. The geological profile observed so far in the core is that of sand, gravel, and clay, with a small halite zone, consistent with the expected geology. Brine was encountered from the top of the hole, and samples have been taken every ten meters from the current depth back to surface using a double packer unit.
Ten samples have been collected by a double packer system, and density measurements range from 1.18 to 1.20, which is highly indicative of brine. Samples will be sent to Alex Stewart Laboratories in Jujuy, Argentina. On site QA QC will be monitored by Cristian Avila of Montgomery and Associates, under the supervision of Mike Rosco also of Montgomery and Associates, a Qualified Person under NI 43-101.
Mr. Jose de Castro, Chief Operating Officer is quoted "We are very pleased with the progress to date at Salar Hombre Muerto, and we look forward to extending the hole and collecting further brine samples."
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 Salar Escondido project in Catamarca province where the company recently completed a drill hole that confirmed the Company's conceptual model of a buried lithium brine target. We will report further exploration news regarding the Salar Escondido Project in the immediate future.
NRG Metals Inc. currently has approximately 111 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. The Company currently has working capital of approximately CAD$4.0 million dollars.
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. William Feyerabend, a Certified Professional Geologist and a Qualified Person under NI 43-101. Mr. Feyerabend approves of the technical and scientific 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.
Investors / Shareholders Call 855-415-8100 / Direct to Adrian Hobkirk 714-316-3272 ahobkirk@nrgmetalsinc.com
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SOURCE NRG Metals Inc.