TORONTO, ONTARIO–(Marketwired – Oct. 19, 2016) –
NOT FOR DISSEMINATION IN THE US OR THROUGH US NEWSWIRE SERVICES
Neo Lithium Corp. (“Neo Lithium” or the “Company”) (TSX VENTURE:NLC) has received final engineering reports from Novigi Ltd. (Santiago, Chile) and Celimin (Center for Advanced Research on Lithium and Industrial Minerals of Antofagasta University), both reputable organizations at arm’s length to the Company, on the process required to produce lithium from the 3Q Project’s brine. A representative 0.5 tonne sample of the Northern Target was collected this January and sent for process studies.
“We are very pleased with these positive process results, which are equivalent to metallurgical studies in base metal mining. In simple terms, these results indicate that the 3Q Project brine can be concentrated to a very high level simply by solar evaporation without the need to add high cost additives, which are required to be added by almost all other lithium brine projects that are in production” stated Waldo Perez, Chief Executive Officer.
The results of these studies show that Northern Target lithium brine can be concentrated by simple solar evaporation, with no costly additives required, to up to 2.6% lithium in approximately eight months. The results also show that with minimal cleaning using lime and sodium sulfate, the brine can be further concentrated up to 4.6% lithium. Further evaporation to approximately 7% lithium is feasible but further studies are on-going to define the evaporation time to achieve that concentration.
The results of the studies show that recovery of the ponds should be approximately 25 tonnes of lithium carbonate per hectare of pond constructed, comparable to other projects in the region. The results of the studies also demonstrate that the brine could produce potash as a by-product during the evaporation process although volumes and quality will require further studies.
“These process studies demonstrate that Neo Lithium’s 3Q Project brine has unique chemical properties that lend themselves to lithium carbonate production using standard, low cost solar evaporation technology. These results strengthen our view that the extraordinary nature of our 3Q Project,” stated Constantine Karayannopoulos, Chairman.
With these results in hand the Company has already designed a pilot pond series that will be constructed on site covering an area of approximately 1 ha to test these study results at the project. Construction is expected to start in the next 30 days.
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 ha 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 14×3 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 led 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. 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. Claudio Suarez-Authievre, Ph.D, Chartered Chemist (ACPO) has verified the data disclosed, including sampling, analytical, and test data underlying the information contained in this release. The studies include experiments on the brine at bench scale and simulated evaporation routes using thermodynamic databases. The data will require further field test to verify the process on site. This study is applicable only to the surface brine found in the Northern Target of the 3Q Project. If the brine changes composition at depth further studies will be required to verify its process. Weather data was taken from near-by weather station (50 km). On site weather station data will be required to validate these results.
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. Such statements include but are not limited to, statements as to the achievable concentrations of lithium from the 3Q’s Project’s brine, that test results are indicative of future results, the sufficiency and suitability of available land for pond construction, the suitability of brine from the 3Q Project for lithium carbonate production and the process therefor, and the future construction of pilot ponds and the timing therefor. Generally, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “is expected”, “scheduled”, “estimates” “intends”, “anticipates”, “believes”, or variations of such words and phrases, or statements that certain actions, events or results “can”, “may”, “could”, “would”, “should”, “might” or “will”, occur or be achieved, or the negative connotations thereof. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, which could cause the actual results, performance or achievements of the Company to be materially different from the future results, performance or achievements expressed or implied by such statements. Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended and undue reliance should not be placed on forward-looking statements.
