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NRG Metals update on Hombre Muerto North Lithium Project

Mining News - Published on Tue, 29 May 2018

Image Source: nrgmetalsinc.com
NRG Metals Inc announced that the drilling of a pump test well at the Hombre Muerto North Lithium Project is progressing on schedule. The rotary hole, which is located 15 meters east of the core hole currently underway, is now at 309 meters, with an expected target dept of 400 meters. On site geological staff are reporting identical geology to the core hole. The rotary hole is being drilled at a diameter of 12 inches, and upon completion, the hole diameter will be enlarged by reaming to a diameter of 17 inches, and 10-inch perforated casing will be installed so that pumping tests can be performed. If the results warrant, the hole can be utilized as a production well.

The pumping well is being drilled in tandem with the core hole because the Company was confident that it would obtain acceptable results in the core hole. The average values of 905 mg/l Li that were recently reported in the top 100 meters have confirmed that expectation. The rotary hole will provide essential information on the pumpability of the brine identified to date.

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 Galaxy Resources' Sal de Vida development stage project.

Meanwhile, 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 400 meter rotary hole, as described in the Company's press release dated May 8, 2018. The diameter of the hole is currently being enlarged by reaming to install casing so that it can be sampled.

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. The Company currently has working capital of approximately CAD 3.2 million dollars.

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Posted By : Rabi Wangkhem on Tue, 29 May 2018
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