Neo Lithium Completes Second Drilling Season at the 3Q Project – Significant New Findings Reported

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Neo Lithium Corp. announced that the Company has completed the 2017-2018 3Q Project drilling season with a total of 4,345 metres of diamond drilling and 2,056 metres of rotary drilling, an increase of 50% in drilled metres compared to the previous season. The objective of the drilling was to upgrade and expand the previously reported resource calculation by in-fill drilling and also drilling into the deeper parts of the basin after a seismic survey indicated that there could be deep aquifers down to 600-800 metres.

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We expanded the drilling program this current season with tremendous success,” stated Waldo Perez, President and CEO of Neo Lithium. “Not only did we drill the highest-grade hole ever at the 3Q project this year, but also doubled the depth of the known mineralization.”

 

Pump Well Results

The drill hole PB1-R-18 tested the upper sedimentary units under the 3Q northern lake formed by sands and conglomerates. Hole PP1-R-19 was drilled outside of the salar basin in an effort to study the extension of lithium rich brine outside the salar.

 

Diamond Drill Results

Some of the holes were extended at depth to test the chemistry of the deeper aquifers identified in the seismic survey. Results show that the grade improves at depth. For example, PP1-D-17 runs from 18 to 587 metres at an average of 627 mg/L Lithium and from 479 to 587m at an average of 662 mg/L Lithium. This 10% increase in grade in the deeper aquifer is common in most holes. Hole PP1-D-20 was drilled outside of the salar basin to study the extension of lithium brine outside the salar.

This season’s results show increased lithium and potassium grades compared to those of the previous exploration season. The average of all drill samples in the previous season was 621 mg/L Lithium and 5,692 mg/L Potassium and this season is 708 mg/L Lithium and 6,693 mg/L Potassium.

The depth of the mineralization was also extended from 357m last season to 647m this season. The bottom of the basin was only reached in hole PP1-D-22 at 639m where the volcanic basement was reached, the rest of the holes remain open at depth. All holes were stopped by limitations of the rig, not by geological reasons.

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