VANCOUVER, British Columbia, Feb. 6, 2019 /CNW/ -- NRG Metals Inc. ("NRG" or the "Company") (TSX-V: NGZ) (OTCQB: NRGMF) (Frankfurt: OGPN) is pleased provide an update on progress with a Preliminary Economic Analysis of the Hombre Muerto North Lithium Project, located in Salta Province, Argentina. The evaluation is being conducted by Knight Piésold Consulting (KP) and JDS Energy & Mining (JDS).
The analyses are currently focused on process engineering optimizations. Simultaneously, design work and evaluation of site infrastructure is ongoing, including the overall general arrangement with optimal location for potential pilot and production plant sites and the ponds. Material quantities and costs are being prepared and preliminary economic numbers are being developed for the P.E.A.
The HMN Project is strategically located in the Hombre Muerto Salar, an area of active lithium production by FMC at the Fenix lithium mine, some 12 kilometers south of the project area. The project is surrounded by ground now owned by POSCO, a Korean based lithium producer, as a result of its US$ 280 million purchase of the area from Galaxy Resources Ltd, an Australian based producer. Galaxy is also moving their portion of the Hombre Muerto Salar, the Sal de Vida Project, to lithium production.
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This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward looking statements. The reader is cautioned not to place undue reliance on forward-looking statements. We seek safe harbor.
