November 18, 2016 / Vancouver, BC / NRG Metals Inc. (the “Company”) (TSX-V: NGZ) (OTC Pink GPOFF) (Frankfurt OGPN) is pleased to provide further details on the Carachi Pampa Lithium Project , located in the Lithium Triangle of South America, in Argentina. Over the past six months, the Company has completed a property consolidation strategy and a due diligence program to assess the area. The due diligence has included surface water sampling and a Vertical Electric Sounding geophysical survey.
The project is situated 40 kilometers south of the town of Antofagasta de la Sierra, in the Province of Catamarca at approximately 3,000 meters elevation. approximately 60 kilometers east of the Salar Antofalla (Rockwood Albermale / Bolland y Cia S.A.’s large lithium deposit) and 100 kilometers south of the Hombre Muerto Salar (FMC lithium production site and Galaxy Lithium’s advanced Sal de Vida project). This region of Argentina is host to intense exploration activity from international lithium companies that has resulted in several brine lithium deposits being discovered. Two properties comprise the project, the Luz Maria claim group comprising 3,383 hectares, and the Mina Beatriz claim comprising 3,004 hectares. Both are located within the center of the Carachi Pampa basin. Transportation routes to the project avoid complicated mountain passes subject to winter closings, and a paved road is within 10 kilometers of the area. Full support services are located nearby.
The claim groups comprising the project sit mainly within a basin characterized by an extended flat surface of built up sedimentary-evaporate cover with local younger basaltic flows. The area shares geologic features in common with other lithium rich salars in the region including the presence of volcanic rocks such as welded tuffs, ignimbrites rich in lithium and potassium, and nearby volcanic activity ( Carachi Pampa Volcano ). The basin contains diatomaceous earth anomalous in lithium, favorable structure and morphology, a large hydrogeological basin, favorable weather conditions, high altitude, and a well developed alluvial fan. The lithium target is a paleo salar (basin) at depth that has the potential to host lithium enriched brines.
The company retained Rojas and Associates of Mendoza, and Sergio Lopez and Associates, of Salta, Argentina, to complete a site review of the project area. Both parties have extensive experience in lithium exploration, having recently completed exploration work on the Pastos Grandes Project for Millennial Lithium. Snr. N. Rojas has completed a site visit, and has been
retained to complete a National Instrument 43-101 Technical Report on the acquisition. The report is expected in the immediate future. Other property negotiations are currently progressing. Further project details are expected shortly.
Qualified Person Appointed
The Company is pleased to announce it has appointed Mr. William Feyerabend, a consulting geologist, as acting Qualified Person. Mr. Feyerabend has completed four technical reports on Clayton Valley, NV lithium brine properties for Pure Energy Metals and Lithium X, one technical report on Patriot Petroleum’s Amboy, CA property and has conducted greenfield
lithium brine exploration across the western US.
President and Chief Executive Officer
INFORMATION: 714-316-3272 or email@example.com
The preparation of this press release was supervised by Mr. William Feyerabend, a Certified Professional Geologist and a member of the American Institute of Professional Geologists, and a Qualified Person as defined under National Instrument 43-101. Mr. Feyerabend 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.