NRG Metals Inc. is an exploration stage company focused on the advancement of lithium brine projects in Argentina. It is currently drilling the 29,000 hectare (71660 acre) Salar Escondido Lithium Project, in Catamarca province where the company recently completed a 400 meter rotary hole, as described in the Company’s press release dated May 8, 2018. The diameter of the hole is currently being enlarged by reaming to install casing so that it can be sampled.
In addition to the Salar Escondido lithium project, the Company is currently drilling at its 3,287 hectare (8,100 acre) Hombre Muerto Norte lithium project (“HMN”) in Salta province and just added a second drill rig to the project as described in the Company’s development stage project, as described in the Company’s press release dated May 14, 2018. A NI 43-101 report for HMN was filed on SEDAR in October 2017. The HMN project 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.
The Company currently has working capital of CAD$4.0 million dollars. The Company plans to use its working capital to fund the ongoing exploration drill programs at the Salar Escondido and HMN Projects.
The Company currently has approximately 132 million shares issued and outstanding, and trades on the TSX Venture Exchange under the symbol NGZ, on the OTCQB Market under the symbol, NRGMF, and on the Frankfurt Stock Exchange under the symbol, OGPN.
PRESIDENT & CHIEF EXECUTIVE OFFICER, DIRECTOR
Mr. Hobkirk has 26 years of experience in the mining and venture capital industry, beginning with Norgold Resources in 1990, which was ultimately purchased by BEMA Gold. Mr. Hobkirk has been involved in Guyana for over twenty years and founded the company to develop the Groete Gold Copper Deposit in 2006. He has worked in many countries including Canada, Mongolia, Venezuela, Guyana, Chile, Colombia, the United States and Mexico. He has been involved in mineral exploration and technology ventures, and has extensive public company experience. He holds a BA in Economics from Simon Fraser University and is the largest single individual shareholder of the Company.
DIRECTOR & CHIEF OPERATING OFFICER
Mr. de Castro is a chemical engineer with extensive experience in the evaluation and development of lithium projects. From 2010 to 2015, he was country manager of Orocobre Ltd. for Argentina, during which time he grew the company from 10 employees to over 800 during construction and 200 in operation. His accomplishments during this period include the exploration and development of the $US300 million Olaroz Salar lithium project to commercial production. In addition, he supervised the exploration of the Salinas Grandes salar, and was responsible for the development of a new process patent for lithium carbonate battery grade production. Prior to Orocobre, he served as Assistant Superintendent at the lithium division of FMC Corp., which operates South America’s largest lithium project at the Hombre Muerto salar. He holds an M.B.A. degree from the Institute for Executive Development, Antofagasta, Chile. He graduated as a chemical engineer from the University of Salta, Argentina, and graduated in the C.E.O. program at Kellogg School in Northwestern University in Chicago.
Ms. Dai has 7 years of experience in the lithium industry and is responsible for business development and is a director for Chengdu Chemphys Chemical Industry Co., Ltd. In her role at Chemphys, Ms. Dai has been involved in developing strategic partnerships, international markets and procurement. Prior to joining Chemphys, Ms. Dai was an investment banking analyst at J.P. Morgan Australia in the mining and metals team. Ms. Dai holds a double degree in Bachelor of Laws and Bachelor of Commerce from the University of Western Australia.
Mr. Ambrose has nearly three decades of experience in the mining industry, including work with large companies as well as junior exploration companies. He was a director of Minera Andes from November 1995 until its combination with McEwen Mining in January 2012. Mr. Ambrose also served as President and Chief Executive Officer of Minera Andes from 1995 until June 2008. Mr. Ambrose has extensive experience in all phases of exploration, project evaluation and project management, and has worked as a geologic consultant in the US, Venezuela, and Argentina. As a consultant, he was a co-discoverer of a Venezuelan auriferous massive sulfide deposit acquired by Gold Reserve Corporation and known generally as the Brisas deposit. He holds a BS in Geology from Eastern Washington University.
Gordon Neal has more than 35 years experience in governance, corporate finance and investor relations. He founded Neal McInerney Investor Relations in 1991. Through marketing more than $4 billion in debt and equity financings, the company grew to be the second largest full service Investor Relations firm in Canada with offices in Vancouver, Toronto and Los Angeles. Clients included; BCE, Nortel, Bell Canada International, Bell Mobility, Clearnet, Intrawest, Canaccord Capital, BMO Nesbitt Burns, and Blackberry (RIM). Mr. Neal was VP Corporate Development at MAG Silver Corp. where he provided capital market strategies and solutions to the board. He is currently VP Corporate Development for Silvercorp Metals Inc.. Mr. Neal has served on the board of Falco Resources, Balmoral Resources, Americas Petrogas, Rockgate Capital, and Xiana Mining. Mr. Neal has raised more than $500 million for resources companies since 2004. Mr. Neal graduated from Dalhousie University with a B.Sc. in Biochemistry. 1977. He has also served as a member of the Dalhousie University Senate and Board of Governors.
DIRECTOR & CHIEF FINANCIAL OFFICER
Mr. Cherry has over 14 years of corporate accounting and audit experience. Mr. Cherry has extensive corporate experience and has held senior-level positions for several public mining companies, including director, CFO and secretary. Mr. Cherry has been a chartered accountant since February, 2009, and a certified general accountant since 2004. In his former experience as an auditor, he held positions with KPMG and Davidson and Co. LLP in Vancouver, where he gained experience as an auditor for junior public companies and as an initial public offering specialist. Mr. Cherry served as CFO of the Company in 2012 and 2013, and has extensive knowledge of business in Guyana.
DIRECTOR & PROJECT MANAGER
Mr. Villaroel has 12 years of experience in the mining industry in Argentina with a focus on Lithium process development. From 2009 to 2013 he worked with Lithium Americas Corp. (Minera Exar S.A.) as Project Manager which included construction management and commissioning of the initial pilot evaporation facilities and laboratory at the Cauchari Olaroz Lithium Project. He has also acted as a consultant to Neo Lithium and International Lithium Inc. He holds a degree in Industrial Engineering and has specialized training in Data Modeling & Analysis for Business and Engineering from M.I.T.
Ms. Urata brings over 20 years experience in public company corporate finance and securities related matters including her years as a paralegal at McMillan. She also serves as Corporate Secretary of other TSX Venture issuers.
Drilling is underway the Salar Escondido lithium project (formerly called Carachi Pampa) in Catamarca province, Argentina. The Salar Escondido project comprises mining concessions totaling approximately 29,180 hectares (72,100 acres) located 280 km southeast of the provincial capital of Catamarca. The project area is strategically located within the Lithium Triangle, in close proximity to one of the largest known lithium deposits in Argentina, and within the Puna Region, an elevated plateau which lies on the eastern side of the Andes Mountains. This region contains a number of highly mineralized salars including the lithium producing salars Hombre Muerto.
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 about 2 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.
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.
During 2017, NRG’s drilling confirmed the presence of a buried brine zone beneath the alluvial cover on the surface of the basin. Brine was intersected at a depth of 140 m, and as reported in the Company’s press release dated December 7, 2017, sampling from 183 to 198 mreturned an average grade of 229 mg Li/liter in a porous, weakly consolidated sandstone horizon. A Vertical Electrical Sounding (“VES”) geophysical survey conducted by the Company suggests that the brine zone occurs at an even shallower depth where the upcoming hole will be drilled.
Located in Salta and Catamarca Provinces, Argentina. The property package of 3,287 hectares is comprised of the Alba Sabrina, Tramo, Natalia Maria, Gaston Enrique, Viamonte and Norma Edit concessions, all located in the Salar del Hombre Muerto in northwestern Argentina.
Highlights of the Hombre Muerto North Lithium Project Include:
Quotes taken from previous New Releases…
August 9th – José de Castro, Chief Operating Officer of NRG Metals Inc., commented,
“we are very pleased with the results of the pumping test at Hombre Muerto North. These results have removed a significant part of the risk associated with developing a lithium operation. We are seeing exceptionally high grades in clastic host rocks with good permeability, and the brine chemistry is very favorable. The Hombre Muerto North brine is unsaturated and has low sulfate and magnesium ratios. Brine with these characteristics has the potential to evaporate more quickly while using less pond area than would be the case for a typical saturated brine and will require lower consumption of chemical reagents potentially resulting in diminished capital and operating costs.”
July 10th – Adrian Hobkirk, CEO of NRG Metals Inc., commented,
“We are encouraged to find high lithium grades in the first part of the second hole, and these results demonstrate the presence of lithium bearing brine across our Tramo property. We will have a more complete picture once this hole is completed and when we have the results of the pumping test from the large diameter hole completed adjacent to the first core hole.”
Adrian Hobkirk, CEO of NRG Metals, commented:
“We are very excited to be able to lock-up this project in the preeminent lithium brine production and development area in Argentina. NRG has a highly qualified, Argentina-based team of professionals experienced with lithium exploration, development, through to lithium production.”