(via TheNewswire)
October 16, 2023,
508.5 m (15 m – 659 m) grading 526 milligrams per litre (“mg/l”) Li.
Brine aquifer beginning at a shallow depth of only 15 m below surface, and encountered the thickest, high-grade intercept to date at Rio Grande.
Encountered highest-grade Li concentration of 785 mg/l at 250 m.
Hole drilled to a depth of 676 m, resulting in the deepest reported occurrence of permeable brines at Rio Grande.
NOA’s Chief Executive Officer
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“Our third exploration hole delivers our best drill results to date, confirming the potential of the
Hole RG23-003 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
The lithological profile of the third hole is in-line with other drillholes at the Project. Almost the entire depth of the +600 m hole returned brine-saturated units based on packer testing, with the exception of select horizons with a few meters in thickness. In general, halite and interstitial sands were the dominant lithologies, with amounts of each varying along the depth.
The Phase 1 drill program is planned for six holes and is designed to deliver a maiden mineral resource estimate for the Rio Grande project in early 2024. The location of RG23-003 is shown in Figure 1.
Results for Hole RG23-003
The results of the brine analyses and the respective intervals are shown in Table 1 below and drill collar information is presented in Table 2 below. Hole RG23-003, drilled at the Cristina claim (shown in Figure 1 below) reached a depth of 676 m, which the Company understands to be the deepest hole ever publicly reported on the Rio Grande salar.
Table 1: Interval data & Li assays (double packer sampling) for drillhole DDH-RG23-003
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Figure 1: Plan Map Showing Well RG23-003 And Previous Completed Wells
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Table 2: RG23-003 - Drill Collar Information
Hole #: | RG23-003 | Azimuth: | 0 deg. |
Claim name: | Cristina | Inclination: | -90 deg. |
Coordinates (UTM 19J South): | E: 582435 m N: 7227303 m Z: 3702 m | Contractor: | |
Machine type: | HT07 LF-90 | ||
Drill type: | Diamond | ||
Hole diameter: | HQ |
About
NOA is a lithium exploration and development company formed to acquire and develop assets with significant resource potential. All NOA’s projects are in the heart of the prolific Lithium Triangle, in the mining-friendly province of
On Behalf of the Board of Directors,
Chief Executive Officer and Director
For Further Information On
Website:www.noalithium.com
Email:info@noalithium.com
Telephone: +54-9-11-5060-4709
Alternative Telephone: + +54-9-11-5060-4709
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
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.
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