NRG METALS INC COM NPV (OTCMKTS:NRGMF) Updates Argentina Lithium Project

NRG METALS INC COM NPV (OTCMKTS:NRGMF) Updates Argentina Lithium Project


NRG METALS INC COM NPV (OTCMKTS:NRGMF) is slumping slightly this week – down by about 5% but the stock as a whole has been riding high. NRGMF is up 280% over the last six months. Recent news of its strategic alliance with high-tech enterprise, Chemphys Chemical Industry Co, an initial contract for drilling with AGV Falcon Drilling SRL, and its ownership of a large amount property in the Argentina lithium triangle have raised market expectations of the company’s future performance.

In addition, NRGMF released a follow-up update Wednesday on its Argentina project. According to the company via the release, as of Saturday October 28, 2017 , AGV Falcon Drilling SRL, completed 170 meters of drilling on the first drill hole of an anticipated initial round of six drill holes planned at the project. At 108 meters the hole intersected an aeolian sand horizon, and saline brine is present below a depth of 140 meters. Drill core extracted from a depth of 160 m exhibits very vuggy and porous sandstone with halite (common NaCl salt) efflorescence. The efflorescence is indicative of saline brine that has precipitated when exposed to air, indicating that the pores and cavities were filled with saline brine. Drilling is continuing, and packer sampling is commencing.

NRG METALS INC COM NPV (OTCMKTS:NRGMF) trumpets itself as a Junior Canadian Exploration company in search of brine based lithium targets in Argentina, Chile and Boliva.

NRG Metals Inc. might also be characterized as an exploration stage junior mining company that engages in the identification, acquisition, and exploration of mineral properties in Guyana and Quebec.

The company explores for gold and copper, as well as graphite and lithium. Its flagship property is the Carachi Pampa Lithium Project located in Catamarca, Argentina. The company was formerly known as Codrington Resource Corporation and changed its name to NRG Metals Inc. in September 2015. NRG Metals Inc. was incorporated in 1995 and is headquartered in Vancouver, Canada.

According to company materials, “NRG Metals Inc. is an exploration stage company focused on the advancement of lithium brine projects in Argentina. In addition to the Salar Escondido lithium project, the Company is evaluating the 3,287 hectare Hombre Muerto North lithium project (“HMNLP”) in the province of Salta. The HMNLP is located 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 announced in a press release dated July 13, 2017, the Company has filed an Environmental Impact Study and applied for permits to drill the HMNLP. Also,the Company is currently reviewing the exploration program as outlined in the NI43-101 report that was filed on Sedar on October 16, 2017.”

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The Salar Escondido is a large basin, roughly 20 by 40 kilometers in size, which is mostly covered by a series of overlapping alluvial fans. NRG’s technical team believes that a large salar with an area of at least 700 km2 developed in the basin approximately two million years ago. After the salar was formed, it was buried by coalescing alluvial fans, and it is thus considered to be a “paleo-salar,” hence the name Salar Escondido, which means “hidden salar” in Spanish.

Hence, only a small portion of the original brine salar is presently exposed at surface in a small saline lake in the southwest portion of the basin. The brine in the lake contains anomalous lithium values.

In 2016, the company tested the paleo- salar hypothesis by conducting a Vertical Electric Sounding (VES) geophysical survey over the central part of the basin. The survey detected an extensive zone of very low resistivity (shown in pink in the following illustration). The Company believes this zone represents a paleo-salar saturated with saline brine that may contain – surprise – lithium.

At the moment carrying a capital value in the market of $25.14M, NRGMF has 77.84M shares out. The company is pre-revenue at this point but NRGMF has lot of investment in an area of high demand. This has put the company in a position to produce rewards for investors. Sign-up for continuing coverage on shares of $NRGMF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $NRGMF, either long or short, and we have not been compensated for this article.

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