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MoistTech Corp
news Neo Lithium discovers new deep brine aquifer in the 3Q Project
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Neo Lithium has successfully intercepted a new deep brine aquifer, located outside the area which resulted in the company’s updated mineral resource estimate technical report in August 2018.
The well PP1-R-26 is off-strike and approximately 250 metres east of the 3Q Project lake (in the alluvial fan) outside the previous resource volume that ended at the rim of the 3Q Project lake. Brine was found in the sediments at 11 meters deep all the way to the bottom of the well at 362 meters deep. This is 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
reached a depth of only 100 metres. In light of this discovery, the company has engaged Groundwater Insight Inc
as an independent contractor to work on a new resource estimate. “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,” said Waldo Perez, President and CEO of Neo Lithium. “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 covering approximately 35,000 ha, including a salar complex of approximately 16,000 hectares.
interest in the project. The Project lies within 50 km of the Bolivian border with Chile. Bolivia does not permit foreign entities to own property within 50 km of international borders, although property owners in the restricted area are permitted to enter into mining association agreements, or joint ventures, with third parties, including foreign entities.
New Pacific commences initial discovery drilling at the Carangas Silver Project in Bolivia
New Pacific Metals Corp has commenced an initial discovery drill program at the Carangas Silver Project, Oruro Department, Bolivia.
The company has identified nearsurface bulk-tonnage and high-grade vein-hosted silver-rich polymetallic targets centred on and adjacent to the historically exploited West and East Dome areas.
Phase I of the 5,000-metre drill program will comprise approximately 20 drillholes for the initial 3,000 metres to be completed over an eight-week period. Contingent on the success of initial results, follow-up drilling will complete the budgeted 5,000-metre program. The project’s Bolivian drill contractor has commenced drilling with a single diamond drill rig. The Carangas Project comprises two exploration licenses owned 100% by the company’s Bolivian joint venture partner. New Pacific’s mining association agreement with the Bolivian partner requires New Pacific to cover 100% of the future expenditures on exploration, mining, development, and production activities in return for 98% economic
