Neo Lithium Corp. announced that, further to its news release dated May 23, 2017, the Company filed a National Instrument 43-101 (“NI 43-101”) technical report in connection with its maiden resource estimate for the Tres Quebradas lithium brine project in Catamarca Province (the “3Q Project”).
The independent NI 43-101 technical report entitled “Mineral Resource Estimate Technical Report on the Tres Quebradas Lithium Project, Catamarca Province, Argentina” was prepared by Canadian-based Groundwater Insight, Inc.
Neo Lithium Corp. is an established lithium brine exploration and development company focused on its wholly-owned, high quality 3Q Project located in Latin America’s Lithium Triangle in the Province of Catamarca. The Company is quickly advancing the 3Q Project towards the production of lithium carbonate to supply the rapidly growing lithium battery market that is driven largely by the growth of the electric vehicle market, and other consumer electronic products as the world moves towards cleaner and more efficient sources of energy.
Neo Lithium is well capitalized to continue the rapid development of its 3Q Project, a unique high-grade and low impurity lithium brine lake and salar complex, which encompasses approximately 35,000 ha.
The recently announced maiden resource calculation resulted in a Measured and Indicated resource of 714,242 tonnes of lithium carbonate equivalent at an average grade of 716 mg/L Lithium and an Inferred resource estimate of 1,339,546 tonnes of lithium carbonate equivalent at an average grade of 713 mg/L Lithium, at a conservative 520 mg/L cut-off (the highest in the industry). Results so far include only one season of drilling and pump tests and additional targets remain untested, indicating the possibility of additional resources at the 3Q Project. The average combined impurities for Magnesium/Lithium and Sulphate/Lithium are among the lowest in the industry.