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NOA Lithium Brines Inc.
NOA Lithium Brines Inc.
Registriert in: Kanada WKN: A3D8GD Rohstoffe:
Art: Originalaktie ISIN: CA6293521051 Lithium
Heimatbörse: TSX Venture Alternativ: -
Währung: CAD    
Symbol: NOAL.V Forum:

NOA Announces Completion of Fourth Hole At Rio Grande Project; Intercepts Approximately 400 Meters of Lithium Brine-Saturated Units

13.12.2023 | 8:00 Uhr | Accesswire

BUENOS AIRES, December 13, 2023 - NOA Lithium Brines Inc. (TSX-V:NOAL)(FSE:N7N) (" NOA " or the " Company ") is pleased to provide an update on the progress of the Phase 1 diamond drill program at its Rio Grande project (" Rio Grande " or the " Project "). The fourth hole, located at the El Camino claim on the edge of the salar was recently completed to a depth of 551 meters (" m ") and laboratory results are currently pending. Preliminary highlights of the fourth hole, RG23-004, include:

  • Encountered lithium brine-saturated geological units ("units") starting at only 2.5 m below surface.
  • Approximately 400 meters of lithium brine-bearing units (33 total packer tests thus far).
  • Preliminary results confirm lithium content in brine most of the depth of the well, with lab geochemical analyses in progress.

NOA's Chief Executive Officer Gabriel Rubacha states: "Preliminary results from our fourth hole continue to demonstrate the extensive potential of our flagship Rio Grande project. In the near-term the Company will be successfully completing our initial exploration campaign, to be followed by a maiden resource estimate at Rio Grande. We believe these milestones represent major catalysts to unlock value for our shareholders."

Hole RG23-004 was executed with diamond drilling (HQ-size), permitting the extraction of core samples of the salar basin formations and collection of brine samples where possible. Drilling was carried out by Salta-based Hidrotec S.A., under the supervision of NOA's geologists.

Diamond drill hole RG23-004 was completed at a depth of 551 meters. At a depth of 2.5 meters, the formations saturated with brine began. The lithology of the well is composed mainly of gravel and sand with intercalations of halite and sulfates, whose thickness varied along the depth. Packer test sampling was carried out and almost the entire depth of the +500 m well returned brine-saturated units (approximately 400 m of the 551 m drilled), with the exception of four horizons ranging from 14 m to 29 m in thickness.

Brine packer samples have been sent for laboratory analyses, including multi-element geochemical analysis for lithium and other relevant elements, and results are expected in the coming weeks. Selected drill core samples were sent to an accredited laboratory for physical property tests, including drainable porosity.

The Phase 1 drill program is now planned to be completed with five holes and is designed to deliver a maiden mineral resource estimate for the Rio Grande project in Q1/2024. The location of RG23-004 and RG23-005 are shown in Figure 1 and RG23-004 drill collar information is provided in Table 1 below.

Hole RG23-005 is well advanced and will be completed within the next few weeks. This last hole will complete our initial drilling campaign at Rio Grande and will constitute the basis for the maiden resource at our Project in this salar, which is expected to be released in Q1 2024.

Figure 1: Plan Map Showing Well RG23-004 & RG23-005 and Previous Completed Wells

Table 1: RG23-004 - Drill collar information

Hole #:

RG23-004

Azimuth:

0 deg.

Claim name:

El Camino

Inclination:

-90 deg.

Coordinates (UTM 19J South):

E: 588494 m

N: 7233176 m,

Z: 3669 m

Contractor:

Hidrotec S.A.

Machine type:

HT07 LF-90

Drill type:

Diamond

Hole diameter:

HQ

Hole RG23-004

Hole RG23-005

About NOA Lithium Brines Inc.

NOA is a lithium exploration and development company formed to acquire assets with significant resource potential. All NOA's projects are in the heart of the prolific Lithium Triangle, in the mining-friendly province of Salta, Argentina, near a multitude of projects and operations owned by some of the largest players in the lithium industry. NOA has rapidly consolidated one of the largest lithium brine claim portfolios in this region that is not owned by a producing company, with key positions on three prospective salars (Rio Grande, Arizaro, Salinas Grandes) and totalling over 140,000 hectares.

On Behalf of the Board of Directors,

Gabriel Rubacha

Chief Executive Officer and Director

For Further Information On The Company
Website: www.noalithium.com
Email: info@noalithium.com
Telephone: +54-9-11-5060-4709
Alternative Telephone: +1-403-571-8013

Sample Analysis & QA/QC Program

The Company has a robust QA/QC and sample management program. Brine samples were collected by a single / double packer system (in-hole inflatable) to isolate specific intervals down the drillhole. The packer sampling method allows the collection of brine samples at specific depths while sealing the hole at the top and bottom of the interval. The packer system was run several times to flush the hole after drilling to clear / clean the hole prior to sampling and four samples for each interval were collected (main sample, duplicate sample, check sample, reserve sample). The drillhole of the current release was inclined vertically (90 degrees) and the salar strata are believed to be flat-lying resulting in reported intervals approximating true thickness.

Samples of brine were submitted by courier for analysis to SGS Argentina S.A., the local subsidiary of SGS International, an accredited laboratory for the analysis of lithium and other elements. SGS employed Inductively Coupled Plasma Optical Emission Spectrometry as the analytical technique for the primary constituents of interest, including: boron, calcium, potassium, lithium, and magnesium. Measurements in the field included pH, conductivity, temperature and density. The quality of sample analytical results was controlled and assessed with a protocol of blank, duplicate and standard samples included within the sample sequence. Differences between original and duplicate samples and results for standards and blanks are considered within the acceptable range for lithium.

Qualified Person

David O'Connor P.Geo., is the Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, and he has reviewed and approved the scientific and technical information in this news release.

Cautionary Note Regarding Forward-Looking Statements

This news release may include forward-looking statements that are subject to inherent risks and uncertainties. All statements within this news release, other than statements of historical fact, are to be considered forward looking statements. Forward-looking statements including, but not limited to NOA's future plans and objectives regarding its projects, which constitute forward looking information that involve various risks and uncertainties. Although NOA believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those described in forward-looking statements. Factors that could cause actual results to differ materially from those described in forward-looking statements include fluctuations in market prices, including metal prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. NOA does not assume any obligation to update any forward-looking statements except as required under applicable laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: NOA Lithium Brines Inc.



View the original press release on accesswire.com

 
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