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NRG Metals options second Lithium Triangle property

by Greg Klein | June 5, 2017

Another acquisition in a lithium-producing region of Argentina has NRG Metals TSXV:NGZ hoping the Hombre Muerto North project will tell tales of further deposits to be found. The company has optioned six concessions totalling 3,287 hectares on the same salar as an FMC lithium mine and Galaxy Resources’ Sal de Vida lithium-potash project, which reached feasibility in 2013.

NRG Metals options second Lithium Triangle property

Twenty samples from Hombre Muerto North averaged
587 milligrams lithium per litre, with seven surpassing 800 mg/L.

Surface samples taken at Hombre Muerto North in 2016 and 2017 ranged from 48 milligrams lithium per litre to 1,064 mg/L, with an average of 587 mg/L. Seven of the 20 samples exceeded 800 mg/L. High lithium and potassium values coincided with relatively low magnesium, NRG stated.

A geophysical survey conducted in January revealed areas of low resistivity, “interpreted to be potential lithium-bearing zones that are open at depth,” the company added.

Regional infrastructure includes a provincial road and a natural gas pipeline within 10 kilometres’ distance, a transmission line and, about 100 kilometres north, a rail line that’s being reactivated to the Chilean port of Antofagasta.

“NRG has a highly qualified, Argentina-based team of professionals experienced with lithium exploration, development, through to lithium production,” said CEO Adrian Hobkirk.

Hombre Muerto North would cost NRG US$5.65 million and 10 million shares over 54 months. A 3% net production royalty applies, half of which NRG may buy for US$3 million within three years of TSXV acceptance of a 43-101 technical report that the company would produce during due diligence.

NRG additionally holds the Carachi Pampa option, also on the Salar del Hombre Muerto, where permitting for an initial drill program is in the final stages. In February the company increased the property size from 6,387 hectares to 29,182 hectares.

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