Neo Lithium Expands its 3Q Project Mineral Property and Signs Construction and Service Contracts
- Further 5,000 hectares added to its current mineral property portfolio - Road construction already started - Pilot pond, geophysics and drilling contracts have been awarded
TORONTO, ONTARIO--(Marketwired - Sept. 27, 2016) -
NOT FOR DISSEMINATION IN THE US OR THROUGH US NEWSWIRE SERVICES
Neo Lithium Corp. ("Neo Lithium" or the "Company") (TSX VENTURE:NLC), has expanded its 3Q mineral property from approximately 30,000 ha to 35,000 ha. This new property extends the mineral property portfolio to the border with Chile and hosts sources of lithium rich hot springs that feed the project, identified in the previous field season.
After receiving the environmental permit from the environment and mining authorities of the Province of Catamarca, the Company has awarded contracts for road construction, camp construction, pilot pond construction, geophysics and drilling.
A 60 km road upgrade has already started for all weather transport from paved highway #60 to the project. The 40 person camp has already been pre-built off-site and will be transported to site in the next 30 days. Along with the camp, a weather station and a full scale laboratory to analyze lithium, potassium, calcium, magnesium, sulfates, chlorine and boron will be installed on site. All the equipment is already operational and the lab has also been pre-built off-site. Alex Stewart Laboratories, a certified lab based in Mendoza, Argentina will set up the lab protocols to comply with international standards.
The exploration team including geologists, engineers, logistics, safety experts and supporting staff have already been hired and the crew is ready to be mobilize.
"With the addition of this new project area that hosts lithium rich hot springs plus our multifaceted mobilization efforts, our team is rapidly hitting milestones at the project level" stated Waldo Perez, Chief Executive Officer.
About Neo Lithium Corp.
Neo Lithium Corp. is quickly becoming the most prominent new name in lithium brine exploration by virtue of its quality team and project. Already well capitalized, Neo Lithium is rapidly advancing its newly discovered 3Q Project - a unique high-grade lithium brine reservoir and salar complex in the Lithium Triangle.
The 3Q project is located in the Province of Catamarca, the largest lithium producer in Argentina. The project covers approximately 35,000 hectares and the salar complex within this area is approximately 160 km2. Recent exploration results indicate a high grade lithium target in the northern portion of the salar complex extending for approximately 14x3 km with the combined lowest magnesium and sulphate impurities in the industry. Low impurities are a key factor in traditional low cost evaporation techniques for final lithium production. Hot springs on the property with elevated lithium content are part of the recharge system of the salar complex. The technical team that recently discovered this unique salar complex is one of the most experienced in the modern era in lithium salars, having discovered and lead the technical work, including resource definition and full feasibility study that established the Cauchari lithium salar as the third largest lithium brine resource in the world.
Additional information regarding Neo Lithium Corp., its business activities is available on SEDAR at www.sedar.com under the Company's profile.
Waldo Perez, Ph.D, P.Geo., the CEO and President of Neo Lithium Corp. is the Qualified Person who approved the scientific and technical disclosure in the news release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange Inc. has in no way approved nor disapproved the contents of this press release.
Forward Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
