VANCOUVER, Jan. 24, 2019 /CNW/ - NRG Metals Inc.
("NRG" or the "Company ") (TSX-V: NGZ) (OTCQB: NRGMF)
(Frankfurt: OGPN) is pleased to announce that it has selected
Knight Piésold Consulting (KP) and JDS Energy & Mining (JDS) to
prepare a National Instrument 43-101 Preliminary Economic
Assessment (PEA) on its flagship Hombre Muerto Norte (HMN) Lithium
Project, located in Salta Province,
Argentina.
The HMN Project is strategically located in the Hombre Muerto
Salar, an area of active lithium production. The development
strategy for HMN focuses on production of 5,000 tonnes per year of
lithium carbonate, with the potential for expansion. A site visit
was completed in December 2018 and
the project evaluation and report are progressing in a timely
manner. The report is expected to be completed during Q1 2019.
KP is a global consulting firm that provides specialized
services to the mining, power, water resources, infrastructure, and
oil and gas industries. The company focuses on creating value at
every stage of a project through quality driven, sustainable, and
cost-effective solutions. Established in South Africa in 1921, KP has expanded their
reach into a global network of over 800 professionals based in
offices in North and South
America, Europe,
Africa, Australia, and Asia. KP has extensive
experience working in Argentina,
with offices in Mendoza, San Juan and Neuquen.
JDS is an engineering, project, and construction management firm
composed of a diverse set of skilled and highly experienced mining
and construction professionals. With a proven record of providing
clients with fit-for-purpose solutions and value delivery, JDS has
acquired a reputation for delivering and executing project plans on
budget, on time, and most importantly, safely. The JDS team prides
itself on delivering project concepts from inception to full
operations, providing clients with technical engineering support,
onsite operations services and EPCM.
NRG recently filed a report titled 'Initial Measured Lithium
and Potassium Resource Estimate Hombre Muerto North Project, Salta
and Catamarca Provinces, Argentina'. The report was
completed in accordance with National Instrument 43-101 Standards
of Disclosure for Mineral Projects, on behalf of the Company by
independent consultants Montgomery and Associates, of Santiago Chile. The report identifies 571,000
tonnes of Lithium Carbonate Equivalent at a grade of 756 parts per
million lithium in the combined Measured and Indicated categories,
with a low magnesium to lithium ratio of 2.6 to 1.0 (October 3, 2108 press release) that will be used
in the completion of the PEA.
The HMN Project is strategically located in the Hombre Muerto
Salar, an area of active lithium production by FMC at the Fenix
lithium mine, some 12 kilometers south of the project area. The
project is surrounded by ground now owned by POSCO, a Korean based
lithium producer, as a result of its US$ 280
million purchase of the area from Galaxy Resources Ltd, an
Australian based producer. Galaxy is also moving their portion of
the Hombre Muerto Salar, the Sal de Vida Project, to lithium
production.
On behalf of the board of directors of NRG Metals
Inc.:
Adrian F. C.
Hobkirk,
President and C.E.O.
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.
SOURCE NRG Metals Inc.
