Rio Grande report
CDN Maverick notes NOA Lithium files Rio Grande report
2024-07-15 16:15 ET - News Release
Also News Release (C-NOAL) NOA Lithium Brines Inc
Mr. Sandy MacDougall of CDN Maverick reports
CDN MAVERICK REPORTS ON SUCCESSFUL INVESTMENT: NOA LITHIUM FILES UPDATED NI 43-101 TECHNICAL REPORT AND FURTHER INCREASES ITS MINERAL RESOURCE ESTIMATE BY 24% AT RIO GRANDE PROJECT
CDN Maverick Capital Corp. has updated its shareholders on its interest in NOA Lithium Brines Inc. On July 10, 2024, in Buenos Aires, Argentina, NOA Lithium announced that further to the press release dated May 29, 2024, it has filed an updated National Instrument 43-101 technical report, which includes the results of the fifth drill hole at its Rio Grande project and the controlled source audio-magnetotelluric survey that was completed on all properties at the Rio Grande project.
Based on the previously announced resource estimate, Montgomery and Associates has updated the resource estimate in the technical report at the Rio Grande project by including an additional 616,000 tonnes of lithium carbonate equivalent of measured resource with a concentration estimated at 571 milligrams per litre, 123,000 metric tonnes of LCE of indicated resource with a concentration estimated at 594 mg/L and 159,000 Mt of LCE of inferred resource with a concentration estimated at 468 mg/L for an aggregate measured, indicated and inferred mineral resource estimate of 4,697,000 Mt of LCE with an average estimated concentration of 525 mg/L.
Highlights from the updated technical report include:
- Significant measured resource expansion: There has been a significant increase in measured resources to 2,094,000 Mt of LCE from 1,478,000 Mt of LCE previously estimated, resulting in an increase of 42 per cent.
- Measured and indicated expansion: Associated with the increase above, the measured and indicated resource increased to 2,658,000 Mt of LCE from 1,919,000 Mt of LCE previously estimated, resulting in an increase of 38 per cent.
- Revised mineral resource estimate: The new MRE at the Rio Grande project contains a total resource of approximately 4.7 million Mt of LCE with concentration estimated at 525 mg/L, resulting in an increase of 24 per cent compared with the previously estimated MRE of approximately 3.8 million Mt that was disclosed in NOA Lithium's press release dated May 29, 2024.
About NOA Lithium Brines Inc.
NOA Lithium is a lithium exploration and development company formed to acquire assets with significant resource potential. All NOA Lithium's projects are located in the heart of the prolific Lithium Triangle, in the mining-friendly province of Salta, Argentina, near a multitude of projects and operations owned by some of the largest players in the lithium industry. NOA Lithium has rapidly consolidated one of the largest lithium brine claim portfolios in this region that is not owned by a producing company, with key positions on three prospective salars, being Rio Grande, Arizaro and Salinas Grandes, and totalling over 140,000 hectares.
Qualified person
The MRE was completed by Michael Rosko, MSc, CPG, of Montgomery and Associates. Mr. Rosko is a registered geologist (CPG) in Arizona, California and Texas, a registered member of the Society for Mining, Metallurgy and Exploration, and a qualified person as defined by National Instrument 43-101. Mr. Rosko and hydrogeologists from M&A have been on site multiple times during the various phases of drilling and sampling operations. Mr. Rosko has extensive experience in salar environments and has been a QP on many lithium brine projects. Mr. Rosko and M&A are completely independent of the company. Mr. Rosko has reviewed and approved the content of this news release, and has verified the data disclosed herein, including sampling, analytical and test data underlying the information contained herein.
About CDN Maverick Capital Corp.
CDN Maverick is a diversified exploration company, with a core focus on lithium.
Prospects and projects:
- James Bay, Quebec: The Poncheville and Chabinoche properties and extensions cover 150,000 hectares of prospective ground for lithium, base metals and platinum group elements targets. They are road accessible and located at about 65 kilometres north of Matagami in Quebec's James Bay.
- Electric Avenue, Ontario: The 7,040-hectare Northwind Lake lithium property is located at 10 kilometres from the Frontier Lithium's PAK lithium project in the Electric Avenue, an emerging lithium pegmatite exploration camp in the Red Lake area of Ontario.
- Rainbow Canyon, Nevada: In 2017, CDN Maverick drilled a notable high-grade intercept over five feet (1.5 metres) containing 19.6 grams per tonne gold in hole RCR-03.
Investments:
- NOA Lithium: CDN Maverick holds 3,109,135 shares of NOA Lithium.
- Noram Lithium Corp.: The company holds over 1.66 million shares in Noram Lithium.
CDN Maverick is actively expanding its critical mineral portfolio across the Americas, with a firm commitment to sustainable and environmental, social and governance friendly investing and exploration.
We seek Safe Harbor.
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