Neo Lithium discovers new deep brine aquifer at 3Q, prepares new resource estimate
(Kitco News) - Neo Lithium (TSXV:NLC; OTCQX:NTTHF; FSE:NE2) announced Thursday that it has successfully intercepted a new deep brine aquifer at its 3Q lithium project in Argentina, located outside the area of the resources estimate with an effective date of August 14, 2018.
Neo Lithium said that in light of this discovery, the company has engaged Groundwater Insight as an independent contractor to work on a new resource estimate using the results from the three new wells.
The company anticipates these results, which were not included in the previous resource estimate, will have a positive impact in the new resource estimate. The Company anticipates the new resource estimate to be announced in the second quarter of 2021.
"We are pleasantly surprised with the result of our drilling and the manner in which the northern high-grade zone extends both deeper and off-strike," stated president and CEO Waldo Perez. "We are keen to see the results of the new resource estimate, further highlighting the quality and size of our project."
Neo Lithium is rapidly advancing its 100% owned 3Q project - a unique high-grade lithium brine lake and salar complex in Latin America's "Lithium Triangle".
The 3Q project is located in the Catamarca Province, the largest lithium producing area in Argentina covering approximately 35,000 ha including a salar complex of approximately 16,000 ha.