TORONTO, ON–(Marketwired – July 07, 2017) – Neo Lithium Corp. (“Neo Lithium” or the “Company“) (TSX VENTURE: NLC) (OTCQX: NTTHF) is pleased to announce that, further to its news release dated May 23, 2017, the Company has 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, Argentina (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. The technical report is available for review on SEDAR at www.sedar.com under the Company’s profile and will soon be on its website at www.neolithium.ca.
About Neo Lithium Corp.
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, Argentina. 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.
The technical team that discovered this unique salar complex is one of the most experienced in the industry, 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 and at its website at www.neolithium.ca, including various pictures of ongoing work at the project.
The technical disclosure in this news release has been reviewed and approved by Dr. Waldo Perez, a “qualified person” within the meaning of that term as defined under NI 43-101.
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.
Cautionary Note Regarding Forward Looking Statements — Certain information set forth in this news release may contain forward-looking statements, including, but not limited to, statements with respect to the growth of the lithium battery and electric vehicle markets, the global shift towards cleaner and more efficient sources of energy, and the possibility of additional mineral resources at the 3Q Project. 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. These risks include, without limitation, risks related to failure to obtain adequate financing on a timely basis and on acceptable terms, political and regulatory risks associated with mining and exploration activities, including environmental regulation, risks and uncertainties relating to the interpretation of drill and sample results, risks related to the uncertainty of cost and time estimation and the potential for unexpected delays, costs and expenses, risks related to lithium and potash price fluctuations, the market for lithium products, and other risks and uncertainties related to the Company’s prospects, properties and business detailed elsewhere in the Company’s disclosure record. 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.
For further information, please contact:
Neo Lithium Corp.
Carlos Vicens
cvicens@neolithium.ca