Drill Rig on Site at Salar Escondido
VANCOUVER, April 12, 2018 /CNW/ - NRG Metals Inc. ("NRG" or
the "Company") (TSX-V: NGZ) (OTCQB: NRGMF) (Frankfurt: OGPN) is
pleased to announce that a drill rig and camp are now on site at
the 29,180 hectare (72,100 acre) Salar Escondido Lithium Project
located in Catamarca Province, Argentina. NRG technical staff, including a
senior hydrologist and geologist have been located near site, and
drilling will begin shortly.
Water Drilling of Catamarca, Argentina are contracted to drill an 8.5-inch
diameter rotary hole up to a depth of 400
m. The hole will be located approximately one kilometer
south of the Company's initial diamond drill hole, which was
completed to a depth of 307 m in
December 2017.
During 2017, NRG's drilling confirmed the presence of a buried
brine zone beneath the alluvial cover on the surface of the
basin. Brine was intersected at a depth of 140 m, and as reported in the Company's press
release dated December 7, 2017,
sampling from 183 to 198 m returned
an average grade of 229 mg Li/liter in a porous, weakly
consolidated sandstone horizon. A Vertical Electrical Sounding
("VES") geophysical survey conducted by the Company suggests that
the brine zone occurs at an even shallower depth where the upcoming
hole will be drilled.
The Salar Escondido project is located approximately 280
kilometers northwest of Catamarca, Argentina. Further details are available at
the company website at http://www.nrgmetalsinc.com, and a National
Instrument 43-101 Technical Report was filed on SEDAR in
December 2016.
About NRG
NRG Metals Inc. is an exploration stage company focused on the
advancement of lithium brine projects in Argentina. In addition to the Salar Escondido
project, the Company is planning to shortly commence drilling at
its 3,287 hectare (8,100 acre) Hombre Muerto Norte lithium project
("HMN") in Salta province. The HMN project is located 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. A NI
43-101 report for HMN was filed on SEDAR in October 2017.
NRG Metals Inc. currently has approximately 121 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 CAD$4.0
million.
Technical Disclosure
The preparation of this press release was supervised by Mr.
James K. Duff, a Licensed
Professional Geologist and a Registered Member of the Society for
Mining, Metallurgy and Exploration and a Qualified Person as
defined under National Instrument 43-101. Mr. Duff 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.
SOURCE NRG Metals Inc
