The Argentina miner NOA Lithium Brines Inc. (TSX-V: NOAL) (FSE: N7N) has discovered extensive new resources at its Rio Grande project in the country’s Salta province.
The lithium explorer announced Monday that one of its diamond drill holes had intercepted 530 metres of lithium brine resources, described as “lithium (Li) brine-bearing units.” They were encountered just 1 metre below the surface, thereby indicating the project’s vast potential, NOA says.
Comprehensive geological lab analyses are currently underway to provide further understanding of the discovery.
“The latest preliminary results continue to underscore the extensive potential of our flagship Rio Grande project,” CEO Gabriel Rubacha said. “This hole completes our initial drilling campaign on time and in line with our planned aggressive drill program.”
He says NOA will be releasing a maiden resource estimate for the project by the end of this quarter. The company’s previous hole drilled in January intercepted an average of 619 milligrams Li per litre over 400 metres.
Diamond drilling machine that made the discovery (right). The hole was drilled to a depth of 602 metres. Photo credit: NOA Lithium Brines
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Three active projects in the Salta province
In addition to Rio Grande, NOA is also focused on the Arizaro and Salinas Grandes projects. However, Rio Grande is the company’s primary focus.
Drilling will commence at Arizaro by the end of Q2 this year. That project is NOA’s largest by far, spanning 78,000 hectares.
The explorer’s CEO, Rubacha, previously served as the President of South American Operations for Lithium Americas (Argentina) Corp. (TSX: LAAC) (NYSE: LAAC). NOA’s operations are situated next to several major operators near the Chilean border.
Map: NOA Lithium Brines
Other lithium juniors operating in the Salta province include Alpha Lithium (NEO: ALLI) (OTC: APHLF), Lithium South Development Corporation (TSX-V: LIS) (OTCQB: LISMF) (Frankfurt: OGPQ) and Argentina Lithium & Energy Corp. (TSX-V: LIT) (OTCQX: LILIF).
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