Neo Lithium discovers new deep brine aquifer outside of the resource area on 3Q project in Argentina

Neo Lithium Corp (CVE:NLC) (OTCQX:NTTHF) revealed that it has intercepted a new deep brine aquifer on its 3Q lithium project in Argentina.

The new aquifer is located outside of the current 3Q resource area, approximately 250 metres east of the 3Q project lake.

Toronto-based Neo Lithium said it hopes to deliver a new resource update in 2Q 2021 that will include all the new, deeper and off-strike drill holes.

READ: Neo Lithium expands and optimizes pilot ponds at its 3Q lithium brine project in Argentina

According to the firm, brine was found in the sediments at 11 meters deep to the bottom of the well at 362 meters deep – the deepest well drilled in the northern high-grade sector of the deposit. The previous resource estimate high-grade zone in the northern portion of the Salar only went down to 100 metres.

The lower brine aquifer made of coarse sand that runs at depth is new and had not been detected in previous drilling of the high-grade zone because the deepest hole in the north was PP1-R-25 that went to a depth of 268 meters, Neo Lithium said. Rocks found in the hole are interlayered sands, gravel, and clays from surface to 264 metres and coarse sand from 264 to 362 metres, it added.

Two other wells drilled as part of the program ran from zero to 167 metres with 1,128 milligrams per litre (mg/l) lithium and from 90 to 268 metres with 1,117 mg/l.

“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,” Neo Lithium CEO Waldo Perez, told shareholders. “We are keen to see the results of the new resource estimate, further highlighting the quality and size of our project.”

The 3Q project is located in the Catamarca Province, the largest lithium-producing area in Argentina and covers approximately 35,000 hectares, including a salar complex of approximately 16,000 hectares.

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Story by ProactiveInvestors