TORONTO, ONTARIO–(Marketwired – Sept. 13, 2016) –
NOT FOR DISSEMINATION IN THE US OR THROUGH US NEWSWIRE SERVICES
Neo Lithium Corp. (“Neo Lithium” or the “Company”) (TSX VENTURE:NLC) is pleased to announce that it has received approval of its environmental report and work program for its Tres Quebradas (“3Q”) project from the mining and environmental authorities of the Province of Catamarca (the “Approval”). This is a key milestone for the Company as it allows Neo Lithium to quickly move into the exploration phase.
Process studies including analytical work, evaporation studies, solvent extraction and phase equilibrium studies on the 3Q lithium brine have been proceeding to define the process flow sheet of the 3Q project, including optimal pond sizes and basic engineering design of a pilot plant. Studies are being completed by the University of Antofagasta and University of Concepcion, Chile, renowned research centres for brine processing, as well as several consulting groups.
As an important preliminary step in obtaining the Approval, on August 30, 2016, the Company held a public hearing in the town of Fiambalá concerning the 3Q Project. There was strong support from the local community, mirroring the support from local authorities.
The Approval enables the Company to build and operate pilot evaporation ponds as well as necessary laboratories, permanent and semi-permanent camps, complete its 2016-2017 drill program, and additional exploration and development work at the 3Q project. In accordance with Argentinian laws, the Approval is required to be updated every two years.
With the Approval now in hand, the Company has mobilized construction crews and technical staff. The road and drill contractors have been selected and road winterisation has commenced. The camp has already been built off-site and will be shipped to the 3Q project as soon as the road work is completed. The Company expects that the road and camp will be operational by the end of October. Drilling of the salar is expected to commence once the road and camp are in place.
“I would like to express our utmost gratitude to the mining and environmental authorities of the Province of Catamarca for fast-tracking the environmental permit and their professionalism during the process, which marks an important milestone as we quickly embark on the exploration of our 3Q project. At the forefront of our leading technical team’s mission is to develop the 3Q Project with the highest of industry standards,” stated Waldo Perez, Chief Executive Officer.
Please review the Company’s website for pictures and updates on the construction of the road and camp.
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 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 30,000 hectares 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 lead 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., its business activities 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.
Neither the 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 that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
