NOA Lithium Brines Commences Drilling at its Flagship Rio Grande Project
NOA Lithium Brines Commences Drilling at its
Flagship Rio Grande Project
March 13, 2023, Toronto, Ontario – NOA Lithium Brines Inc. (TSX-V: NOAL) (“NOA” or the
“Company”) is pleased to announce that the Company has started its Phase 1 core drilling
program at its flagship Rio Grande Project ( “Rio Grande ” or the “ Project”) in Salta Province,
Argentina. The Phase 1 program is expected to consist of six exploration holes, totalling
approximately 3,000 meters, and may be expanded ba sed on results. The initial drill program is
expected to be complete by Q4 2023.
The Company’s Rio Grande Project covers approximately 43,000 hectares and is located
adjacent to the project of the same name owned by Pluspetrol Resources Corporation
(“Pluspetrol”). The key objectives for NOA’s initial drill campaign at Rio Grande include:
• Drilling targets where recent geophysical testing has identified lithium brine to a depth of ~500
meters (“m”), as historical drilling at the salar has only drilled to depths of ~100 m;
• Exploration of the broader salar basin (salar under alluvial cover) which shows brine potential
from geophysics completed by NOA and others.
Taj Singh, President and CEO of NOA stated, “We are very pleased to start drilling less than a
week after trading began on the TSX Venture Exchange. The depth and experience of our team
in-country has been a key contributor to how fast the Company’s operations have advanced. We
are one of the largest claimholders at Rio Grande and through historical work carried out by
neighbouring companies, we have access to salar-wide drilling and geophysical data, which gives
us a high degree of confidence in the exploration potential at the Project. In addition, we have
carried out geophysics on several of our claims at the Project which further confirms the brine
potential here. In parallel with our Rio Grande drill program, we are also excited to start exploration
programs on our Arizaro and Salinas Grandes projects to get them ready for drilling later this year
or early in 2024.”
Rio Grande Phase 1 Drill Program
At the Rio Grande Project, NOA plans to drill six core holes on its claims. NOA’s target is to drill
until bedrock (salar basement) is reached and a high-level estimate is that each hole will be drilled
to ~500 m. The overall aim is to release a maiden mineral resource estimate by late 2023 / early
2024. A plan map of the Project claims can be found at: https://noalithium.com/projects/.
NEWS RELEASE
The current drill plan at the Rio Grande Project is to drill three holes in the salar core and three
holes in the alluvial cover of the broader salar basin. Drill targeting was supported by a
combination of nearby existing drillhole data, geophysical testing and geological mapping.
About the Rio Grande Project
NOA controls a 100% interest in approximately 43,000 hectares of claims located at the Rio
Grande salar in Salta Province, 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 Grande salar is located at approximately 3,600 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 in the surface salar, brine potential was indicated
down to the salar basement of ~500 m, significantly deeper than what has been historically drilled
on this salar. Certain applicable exploration data and geophysical results suggest that lithium
concentrations may increase with increased depths in and around this 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 prospective salars (Rio Grande, Arizaro, Salinas Grandes) and totalling 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
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 c onsidered forward 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.