NOA Lithium Acquires New Claims At Its Flagship Rio Grande Project
NOA Lithium Acquires New Claims At Its Flagship Rio Grande Project
March 29, 2023, Toronto, Ontario – NOA Lithium Brines Inc. (TSX-V: NOAL) (“NOA” or the
“Company”) is pleased to announce that it has recently acquired two mining claims covering 896
hectares (“ha”) at the Rio Grande salar, located in Salta province, Argentina.
One of the claims, the Purita claim (“Purita”), is 60 ha and lies directly within surface s alar,
immediately adjacent to claim blocks controlled by NOA and surrounded by claims owned by
Pluspetrol Resources Corporation , which host an existing lithium resource (see “About Rio
Grande Project” below). NOA acquired Purita by winning the public tender to purchase the claim
for a cost of US$330,000 in instalments over one year from Recursos Energeticos Y Mineros De
Salta S.A. (“REMSA”, the state-owned mining company of Salta ). REMSA retains a 2% NSR
royalty on this claim which is purchasable by the Company for a cost to be negotiated prior to
purchase.
The other newly acquired claim, the West Road claim (“West Road”), 836 ha, is located in the Rio
Grande basin at the alluvial fan / northern salar interface and was acquired through lottery ($5,000
to enter) from the Salta Province Mining Court and carries no royalties . This claim also lies
immediately adjacent to large claim blocks under the Company’s control and where NOA believes
there is a good potential for lithium-bearing brines based on previous geophysical studies carried
out by others as well as NOA. West Road provides continuity with the other claims already
controlled by NOA, and where the Company is currently executing its drilling campaign.
Both new claims will form part of the Company’s flagship Rio Grande project (the “Project”), which
inclusive of these acquisitions, brings the Company’s total controlling position to 37,027 ha at the
Rio Grande salar. The Company also holds a 100% interest in approximately 44,000 ha of claims
located at the Arizaro salar, and 9,200 ha of claims located at the Salinas Grandes salar.
Taj Singh, President & CEO of NOA, stated, “These recent claim acquisitions further strengthen
NOA’s position on an exciting and underexplored lithium salar in the Lithium Triangle. NOA is one
of the largest claimholders at Rio Grande and these acquisitions not only increase our resource
potential at the Project but also add land holdings in the immediate vicinity of our core claim block
positions, both on the salar and in the basin. We look forward to continuing to strategically expand
our land positions at our current projects and elsewhere in the region.”
A map showing the Rio Grande project land holdings, including the acquired claims, can be found
in Figure 1 below.
NEWS RELEASE
About the Rio Grande Project
NOA controls a 100% interest in approximately 37,000 ha of claims located at the Rio Grande
salar in Salta Prov ince, Argentina. The Project is approximately 70 kilometers (“km ”) from the
Company’s Arizaro project and 250 km from its Salinas Grandes project. The Rio Grande salar is
known to host lithium -bearing brines with production potential. Pluspetrol owns the most
advanced project on the Rio Grande salar and acquired these claims through its acquisition of
LSC Lithium Corporation (“LSC”) in 2019. At the time of this acquisition, LSC had an inferred
resource of 2.2 million tonnes of lithium carbonate equivalent (“LCE”) at an average grade of 374
milligrams per liter (“mg/l ”) lithium, as disclosed in the most current technical report, with an
effective date of March 28, 2018, that can be found on LSC’s SEDAR profile.
Location & Infrastructure
The Rio Gr ande salar is located at approximately 3,600 m etres (“m”) above sea level, and the
geological environment at the salar is similar to other salars in the Puna region where lithium and
potash are commonly present. The Project is situated close to Provincial Route 27, and 185 km
south of Provincial Route 51, the international road that connects to Chile’s coastal ports, and is
50 km away from the Caipe international railway station. The InterAndes power corridor runs
within a few km of the Rio Grande salar.
Previous Exploration
Significant exploration has been carried out by various operators at Rio Grande, including
extensive drilling. Typical lithium values intercepted are in the 350 -450 mg/l range. NOA carried
out geophysical testing in 2022 on its Rio Grande claims which indicated significant brine potential
in the alluvial fans of the salar, and for the claims on the surface salar, brine potential was
indicated down to the salar basement of ~500 m, significantly deeper than what has been
historically dri lled on this salar. Certain applicable exploration data and geophysical results
suggest that lithium concentrations may increase with increased depths in and around this salar.
Current Exploration Program
The Company is currently executing a core drill program at Rio Grande. Its first drill hole is located
in the north of the salar, on the Sulfa X claim (Figure 1). The hole is well-advanced, and results
are expected early Q2 2023. The next hole planned will be drilled within the surface salar.
About NOA Lithium Brines Inc.
NOA is a lithium exploration and development company formed to acquire assets with significant
resource potential. All NOA’s projects are 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 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 pros pective salars (Rio Grande, Arizaro, Salinas Grandes) and totaling over
100,000 hectares.
On Behalf of the Board of Directors,
Taj Singh, M.Eng, P.Eng, CPA
President & CEO, Director
For Further Information
Website: www.noalithium.com
Email: [email protected]
Telephone: 416-568-1027
Qualified Person
Taj Singh , P. Eng, President & CEO , NOA Lithium Brines Inc ., is the Company's designated
Qualified Person for this news release within the meaning of National Instrument 43 -101
Standards of Disclosure for Mineral Projects and has reviewed and validated that the information
contained in this news release is accurate.
Technical Notes & Forward-Looking Statements
The most recent technical report for NOA’s Rio Grande Project is the 2022 Technical Report
which was completed by Montgomery & Associates. The full document is available on NOA’s
website (https://www.noalithium.com/projects/rio-grande/reports/) and on the NOA Lithium Brines
Inc. SEDAR profile.
Cautionary Note Regarding Forward-Looking Statements
This news release may include forward -looking statements that are subject to inherent risks and uncertainties. All
statements within this news release, other than statements of historical fact, are to be considered for ward looking
statements. Forward-looking statements including, but not limited to NOA’s future plans and objectives regarding its
projects, which constitute forward looking information that involve various risks and uncertainties. Although NOA
believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual results or developments may differ materially from
those described in forward -looking statements. Factors that could cause actual results to differ materially from those
described in forward -looking statements include fluctuations in market prices, including metal prices, continued
availability of capital and financing, and general economic, market or business conditions. There can be no assurances
that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such
uncertainties. NOA does not assume any obligation to update any forward-looking statements except as required under
applicable laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Figure 1 - Rio Grande Project – Claim map