VANCOUVER, British Columbia,
May 14, 2018 /CNW/
-- NRG Metals Inc. ("NRG" or the
"Company") (TSX-V: NGZ) (OTCQB: NRGMF)
(Frankfurt: OGPN) the
Company is pleased to report that it has mobilized a rotary drill
to the Hombre Muerto North Lithium project to complement the
diamond drill already at site. The rotary hole, which is located 15
meters east of the core hole currently underway, is to carry out
pump testing. The project is located in the province of Salta,
Argentina at the northern end of
the prolific Hombre Muerto Salar, adjacent to FMC's producing Fenix
mine and Galaxy Resources' Sal de
Vida development stage project.
As of May 8, the rotary hole had
advanced to a depth of 153 meters. The hole will be drilled
to a depth of 300 to 400 meters, depending upon the results
obtained in the core hole. The rotary hole is being drilled
at a diameter of 12 inches, and upon completion, the hole diameter
will be enlarged by reaming to a diameter of 17 inches, and 10-inch
perforated casing will be installed so that pumping tests can be
performed. If the results warrant, the hole can be utilized
as a production well.
Meanwhile drilling is continuing with the core hole, and
as of May 8, the hole had advanced to
a depth of 222.5 meters. The hole continues to intersect clastic
sediments consisting of conglomerate and poorly consolidated
sandstone. Brine was encountered from the top of the hole,
and as previously reported, brine samples have been collected every
ten meters from the surface to a depth of 100 meters using double
packer sampling equipment. The samples have been shipped to
the Alex Stewart Laboratory in Jujuy, Argentina, and results are expected
shortly. Once the hole reaches a depth of 300 meters, the
interval from 300 meters to 100 meters will be sampled using double
packer sampling equipment, and then drilling will resume. On
site QA/QC for the sampling was directed by Cristian Avila of Montgomery and Associates,
under the supervision of Mike Rosco,
also of Montgomery and Associates, a Qualified Person under NI
43-101.
About the Company
NRG Metals Inc. is an exploration stage company focused on the
advancement of lithium brine projects in Argentina. In addition to the Hombre Muerto
Norte project, the Company is evaluating its 29,000 hectare Salar
Escondido project in Catamarca province where the company recently
completed a 400 meter rotary hole, as described in the Company's
press release dated May 8,
2018. The diameter of the hole is currently being enlarged by
reaming to install casing so that it can be sampled.
NRG Metals Inc. currently has approximately 111 million shares
issued and outstanding, and trades on the TSX Venture Exchange
under symbol NGZ, on the OTC QB Market under symbol NRGMF, and on
the Frankfurt Stock Exchange under symbol OGPN. The Company
currently has working capital of approximately CAD$4.0 million dollars.
The preparation of this press release was supervised by Mr.
James K. Duff, a Licensed
Professional Geologist and a Registered Member of the Society for
Mining, Metallurgy and Exploration and a Qualified Person as
defined under National Instrument 43-101. Mr. Duff approves the
scientific and technical disclosure contained in this press
release.
The TSX Venture Exchange has not reviewed the content of this
news release and therefore does not accept responsibility or
liability for the adequacy or accuracy of the contents of this news
release.
This news release contains certain "forward- looking statements"
within the meaning of Section 21E of the United States Securities
and Exchange Act of 1934, as amended. Except for statements of
historical fact relating to the Company, certain information
contained herein constitutes forward- looking statements.
Forward-looking statements are based upon opinions and estimates of
management at the date the statements are made and are subject to a
variety of risks and uncertainties and other factors which could
cause actual results to differ materially from those projected in
the forward-looking statements. The reader is cautioned not to
place undue reliance on forward- looking statements. The
transaction described in this news release is subject to a variety
of conditions and risks which include but are not limited to:
regulatory approval, shareholder approval, market conditions, legal
due diligence for claim validity, financing, political risk,
security risks at the property locations and other risks. As such,
the reader is cautioned that there can be no guarantee that this
transaction will complete as described in this news release. We
seek safe harbor.
On behalf of the board of directors of NRG Metals
Inc.:
Adrian F.C.
Hobkirk
President and C.E.O.
T: Investors / Shareholders Call 855-415-8100 / Direct to
Adrian Hobkirk 714-316-3272
E: ahobkirk@nrgmetalsinc.com
W: www.nrgmetalsinc.com
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SOURCE NRG Metals Inc.