Neo Lithium more than doubles high-grade resources at 3Q
(Kitco News) - Neo Lithium (NLC.V) announced today an updated mineral resource estimate for its Tres Quebradas (3Q) lithium brine project in Catamarca Province, Argentina, with measured and indicated mineral resource categories having increased by 125% at the 800 mg/l lithium cut-off, and by 33% at 400 mg/l lithium cut-off, when compared to the July 2018 estimate.
The company said that mineral resource estimate significantly (by 125%) increased in northern high-grade zone using 800 mg/l lithium cut-off, with measured and indicated resource estimate of 1,682,000 tonnes of lithium carbonate equivalent at an average grade of 926 mg/l lithium.
Also, the central and southern medium-grade zone resource estimate significantly (by 33%) increased at 400 mg/l lithium cut-off, with measured and indicated resource estimate of 5,304,000 tonnes of lithium carbonate equivalent at an average grade of 636 mg/l lithium.
The company said that potential for resource expansion continues to exist at depth, and off strike on the eastern border of the 3Q project under the alluvial cones.
Based on this updated mineral resource estimate, the 3Q Project deposit continues to improve, confirming that it is one of the largest and highest-grade lithium brine deposits in the world, Neo added.
"These updated results confirm that 3Q project is one of the most significant lithium brine discoveries in recent history" said Dr. Perez, President and CEO of Neo Lithium. "We continue to add high quality resources to the 3Q project and there is still incremental value and growth at this world-class high-grade resource."
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.