Junior exploration, development roundup: Neo Lithium, Magna Terra, Inca Minerals

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Wednesday, September 6, 2017

Argentina-focused Neo Lithium expects a preliminary economic assessment for its Tres Quebradas (3Q) lithium project in Catamarca province to be completed in October, based on a production rate of 35,000t/y of lithium carbonate.

The surface easement for mine construction has been granted by local mining authorities, while the environmental impact assessment required for the final mining permit is expected for 1Q18, said a company release.

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Argentina-focused Magna Terra Minerals has started a geophysical program covering five projects in Santa Cruz province. The projects being advanced are Piedra Negra, Covadonga, El Meridiano, La Rosita and Gertrudis, a statement said.

The program is comprised of 138 line kilometers of ground magnetometry, 44.5 line km of induced polarization and 7.5 line km of CSAMT (controlled-source audio frequency magnetotellurics). The company owns 100% of the Gertrudis project and controls the other projects through an option agreement with a private individual.

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Peru-focused Inca Minerals received assays and detailed core logging data from drill hole RDDH-012, the first hole of phase 1, part 2 drilling at the Humaspunco prospect of its Riqueza project.

Restuls confirm two significant forms of zinc-silver-lead mineralization, a manto/vein intersection averaging 3.83% zinc over 2.6m, 68.7g/t silver over 3.35m and 3.69% lead over 3.35m, a press release said.