Business
NOA Lithium Acquires New Claims At Its Flagship Rio Grande Project
TORONTO, ON / ACCESSWIRE / March 29, 2023 / NOA Lithium Brines Inc. (TSX-V:NOAL) ("NOA" or the "...
About this update from Noa Lithium Brines Inc
[{"type":"text","content":"NOA Lithium Acquires New Claims At Its Flagship Rio Grande ProjectTORONTO, ON / ACCESSWIRE / March 29, 2023 / 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 salar, 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 bu...