NOA Lithium Brines Completes CSAMT Survey and Significantly Increases Mineral Resource Estimate by 65% At Rio Grande Project


BUENOS AIRES, ARGENTINA / ACCESSWIRE / May 29, 2024 / NOA Lithium Brines Inc. (TSXV:NOAL)(FSE:N7N) (“ NOA ” or the “ Company “) is pleased to announce the completion of a Controlled Source Audio-Magnetotelluric (“ CSAMT “) survey and update of its NI 43-101 resource technical report (“ Technical Report “) for its Rio Grande Project. Montgomery and Associates updated the resource estimate based on the CSAMT which confirmed low conductivity areas corresponding to lithium saturated brines in the southeast area of NOA’s Rio Grande properties, adding 1,509,000 tonnes of Lithium Carbonate Equivalent (“ LCE “) of Inferred resource with a concentration estimated at 450 milligrams per litre (“ mg/l “), for an aggregate Measured, Indicated and Inferred Mineral Resource Estimate (“ MRE “) of 3,799,000 tonnes of LCE with an average estimated concentration of 535 mg/l.

Highlights from the results of the program include:

  • CSAMT Survey : The CSAMT survey consisted of 20 lines with an average line spacing of 1,500 meters at the Rio Grande project.
  • Significant Resource Expansion: There has been a significant increase in Inferred resources to 1,880,000 Mt of LCE, from 371,000 Mt of LCE previously, resulting in an increase of 407%.
  • Revised Mineral Resource Estimate: The new Rio Grande MRE contains a total resource of 3.8 million tonnes @ 535 mg/l, resulting in an increase of 65% compared to the prior MRE dated February 26, 2024.
  • Upside Potential: Certain property areas in the north and northeast of the Rio Grande Project may be subject to a change in category from indicated to measured and from inferred to indicated.
  • North Properties: A resource estimate on the northern properties of the Rio Grande Project may be increased as further expanded to the west.

Quantec Geoscience Argentina S.A. conducted the CSAMT study completing and surveying most of the properties contained in the Rio Grande Project.

The main objective of the study included the identification of areas to be explored as part of our second stage drilling campaign, which is planned to begin during 2024. This second stage drilling program will include additional diamond drilling in unexplored properties, drilling of pumping wells close to existing diamond drilled holes, and industrial water exploration and process engineering which will lead to our planned Preliminary Economic Assessment on the Rio Grande Project.

Conductive brine material highlighted by CSAMT

About Quantec Geoscience Argentina S.A.

Quantec Geoscience is a recognized leader in the industry, with experience over 40 countries with and extensive experience in the provision of geophysical services for the evaluation of salars in lithium prolific areas of Argentina.