Neo Lithium Announces Resource Estimate for 3Q Project
Neo Lithium Corp. has announced a maiden resource estimate for the Tres Quebradas (3Q) lithium brine project in Catamarca Province, Argentina. The estimate was conducted along the entire salar and brine lakes of the 3Q project covering an area of 8,183 hectares.
Based on the estimate, the 3Q project contains measured and indicated resources of 714,242 tonnes of lithium carbonate equivalent at an average grade of 716 mg/L lithium and inferred resources of 1.34 million tonnes of lithium carbonate equivalent at an average grade of 713 mg/L lithium.
The company prepared the mineral resource estimation using Geosoft Target 9.1 for ArcGIS in accordance with best practices specific to brine resources, including a reliance on drilling and sampling methods that yield depth-specific chemistry and drainable porosity measurements of the brine host rock. The estimate is based on 10 diamond drill holes (1,960 metres), 13 rotary wells (1,177 metres) and a total of 152 brine samples and 23 QA/QC samples collected in the drill holes.
A simplified geology model that identifies six main geological units was assembled from surface mapping and diamond drill core. The deepest hole goes down 330 metres and does not intercept the basement.
The 3Q project has significant potential for resource expansion at depth because the total thickness of the basin and the saturated sediments remains largely unknown. The next major phase of the project will be a Preliminary Economic Assessment.
Read the full news release on the company’s website.