I am taking this moment to update you on progress with your company.
Recently, we began our drill program at Salar Escondido, in Catamarca Province, Argentina. I enclose pictures of our drilling effort. We expect to be down to target depth in the next few days, and when we reach that depth, begin sampling. The intent of the program is to confirm our expectations that the Salar Escondido, a paleo salar, hosts a high-grade lithium deposit.
On other matters, Chemphys continues their due diligence of NRG Metals. We expect due diligence to conclude shortly, and we will then move forward with our strategic alliance as announced October 17, 2017. We are very excited to form a relationship with Chemphys, and believe mutually, we can help make NRG Metals a success.
We recently filed for approval to close on the acquisition of the Hombre Muerto North Lithium Project, located in Salta Province, Argentina. The permitting process is ongoing, and I expect approval to move forward shorlty. Our recently filed NI 43-101 Technical Report on the project suggests an exploration drill program to test for lithium, and we fully intend to quickly advance to drilling once permitting is obtained.
This is an interesting time for companies seeking to advance lithium projects in South America. We have an excellent team, well experienced in the exploration and development to production, of lithium assets. I hope to bring you further news shortly.
President and C.E.O.
Project Photos – October 2017 – SALAR ESCONDIDO LITHIUM PROJECT – 10/24/2017