NOA Lithium Completes CSAMT Survey and Boosts Resource Estimate by 65% at Rio Grande Project

Noa Lithium Brines Inc. (TSXV:NOAL)(FSE:N7N) has completed a Controlled Source Audio-Magnetotelluric (CSAMT) survey and updated its NI 43-101 resource technical report for the Rio Grande Project. According to the study by Montgomery and Associates, NOA's inferred resource has grown by 407% to 1,880,000 tonnes of Lithium Carbonate Equivalent (LCE) with a 450 mg/l concentration. The total mineral resource estimate now stands at 3.8 million tonnes of LCE at an average concentration of 535 mg/l, marking a 65% increase.

The CSAMT survey included 20 lines with an average line spacing of 1,500 meters. The new drilling campaign aims to explore additional diamond drilling in unexplored properties, drilling of pumping wells, and industrial water exploration. NOA anticipates this will lead to a Preliminary Economic Assessment for the Rio Grande Project.

Gabriel Rubacha, NOA’s CEO, expressed optimism over the findings, stating the results bolster the company's expectations for the southern area of Rio Grande. NOA is finalizing its evaluation to update the current drilling plan for 2024, while also working on enhancing its Technical Report based on new data.