April 12, 2021 – TheNewswire – Rockport, Ontario – New Age Metals Inc. (TSXV:NAM); (OTC:NMTLF); (FSE:P7J.F) (“NAM” or “Firm”) is happy to announce agreements with main engineering corporations to finish a Pre-Feasibility Examine of its 100% owned River Valley Palladium Mission close to Sudbury, Ontario (Canada). The Pre-Feasibility Examine will likely be undertaken over the following 8 to 12 months, with completion slated for early 2022.
The Pre-Feasibility Examine will likely be accomplished by 4 engineering corporations: P&E Mining Consultants Inc. for Preliminary Mineral Reserve estimation, mine planning, financial evaluation and Mission Lead; SGS Canada Inc. and D.E.N.M. Engineering Ltd. for mineral processing and metallurgical take a look at work; Knight-Piésold Consulting for design of the tailings facility and open pit geotechnical engineering; and Story Environmental for environmental and group impression interactions and allowing. P&E Mining Consultants Inc. will likely be updating the Mineral Useful resource Estimate and main the preparation of the Pre-Feasibility Examine NI 43-101 Technical Report.
Harry Barr, Chairman and CEO, mentioned, “We’re extraordinarily happy to have assembled such a powerful workforce for our Pre-Feasibility Examine. These corporations will work along with NAM to optimize the worth of the River Valley Palladium Mission, by maximizing the financial features whereas minimizing the environmental impacts and benefitting the native communities. The River Valley Mission will likely be very well-timed for the inexperienced steel revolution.”
Work for the Pre-Feasibility Examine is deliberate to start this month. 4 new holes will likely be drilled by NAM to recuperate contemporary materials for brand new mineral processing and metallurgical testwork. The SGS Canada Inc. and D.E.N.M workforce will work on the fabric to optimize restoration of palladium, platinum, gold, copper, nickel, rhodium and cobalt. This work will construct on earlier research by SGS Lakefield in 2012 and embrace, for the primary time, systematic rhodium restoration determinations. Knight-Piésold Consulting will full the primary geotechnical and geomechanical research of the Mission, primarily based on new drilling and excavations by NAM within the areas of the open pit mines, processing plant, waste dumps and tailings amenities, as outlined within the Preliminary Financial Evaluation (“PEA”) of June 2019 (Determine 1). Story Environmental will proceed baseline environmental research and construct efficient relationships with native authorities companies and communities, together with First Nations, for future allow functions and approvals.
Determine 1. 4 of the northwestern most mineralized zones and design open pits from the 2019 Preliminary Financial Evaluation of the River Valley Palladium Mission. The mineralized zones and design open pits fashions will likely be up to date as a part of the Pre-Feasibility Examine.
Total, the Pre-Feasibility Examine as led by P&E will take into account optimized mine manufacturing and mineral processing charges primarily based on a probably extra useful Up to date Mineral Useful resource Estimate than that which underpinned the 2019 PEA. The 2019 PEA had a optimistic financial final result. For the Pre-Feasibility Examine, nonetheless, River Valley Mission economics are anticipated to profit markedly from traditionally excessive palladium and rhodium steel costs, new extra tightly constrained area fashions of the mineralized zones, and a shift to Web Smelter Return-based reporting. In tandem with the Pre-Feasibility Examine, NAM plans to proceed exploration geophysical and drilling applications so as to add, broaden and improve Mineral Assets and examine the grades and distribution of rhodium within the precedence mineralized zones of the River Valley Palladium Mission.
About River Valley
The River Valley Palladium Mission is situated 100 road-km east from the Metropolis of Sudbury. The Mission space is linked to Sudbury by a community of all-weather highways, roads and rail beds and is accessible year-round with hydro grid and pure gasoline energy close by. River Valley enjoys the robust assist of native communities, just like the village of River Valley, 20 km to the south. A completely executed Memorandum of Understanding is in place with the native First Nation. Environmental baseline research re-commenced in 2020.
The present Mineral Useful resource Estimate was introduced in a Firm press launch dated January 15, 2019 and is predicated on steel costs considerably decrease than in the present day. At a cut-off grade of 0.35 g/t PdEq, the Mineral Useful resource consists of: 99 Mt grading 0.52 g/t Pd, 0.20 g/t Pt, 0.03 g/t Au and 0.06% Cu, or 0.90 g/t PdEq within the Measured and Indicated classifications; and 52 Mt grading 0.31 g/t Pd, 0.15 g/t Pt, 0.04 g/t Au and 0,04% Cu, or 0.63 g/t PdEq within the Inferred classification. Contained steel contents are 2.4 Moz Pd+Pt+Au or 2.9 Moz PdEq within the Measured and Indicated classifications and 0.8 Moz Pd+Pt+Au or 1.1 Moz PdEq within the Inferred classification.
The 2019 PEA outcomes for the River Valley Palladium Mission had been introduced in a press launch dated June 27, 2019. The PEA outlines a 20,000 t/day open pit mine and processing plant operation producing a mean of 119,000 ounces of PdEq per yr over a mine lifetime of 14 years. Utilizing base case steel costs of US$1,200/oz Pd, $1,050/oz Pt and $3.25/lb Cu, the PEA confirmed a pre-tax NPV5% of US$261 million and a pre-tax IRR of 13%. At a +20% palladium worth of $1,440/oz Pd, the pre-tax NPV5% will increase to $501M and the pre-tax IRR to 19%. The present worth of Pd is roughly $2,600/oz Pd.
New Age Metals is a junior mineral exploration and growth firm targeted on the invention, exploration and growth of inexperienced steel tasks in North America. The Firm has two divisions; a Platinum Group Metals division and a Lithium/Uncommon Ingredient division.
The PGM Division consists of the 100% owned, multi-million-ounce, district scale River Valley Mission, one in all North America’s largest undeveloped Platinum Group Metals Initiatives, located 100 km from Sudbury, Ontario. The Firm has not too long ago accomplished a Preliminary Financial Evaluation on the undertaking and, plans are to finish a Pre-Feasibility Examine by the top of the primary quarter of 2022. In Alaska, the Firm owns 100% of the Genesis PGM-Cu-Ni Mission.
The Lithium Division is among the largest mineral declare holders within the Winnipeg River Pegmatite Subject, the place the Firm is exploring for onerous rock lithium and numerous uncommon parts resembling tantalum and rubidium. 2021 plans embrace drone geophysics on three of the Firm’s seven tasks and a drill program on the Firm’s Lithium Two Mission.
Our philosophy is to be a undertaking generator with the target of optioning our tasks with main and junior mining firms by to manufacturing. The Firm is actively looking for an possibility/ three way partnership associate for its road-accessible Genesis PGM-Cu-Ni undertaking in Alaska and for all or a part of our Lithium Division in Manitoba.
The Firm will likely be collaborating in Renmark’s Digital Non-Deal Roadshow Sequence on Monday, April 12, at 4:00 pm EST. The presentation will characteristic Harry Barr, New Age Steel’s Chairman & CEO presenting to shareholders, buyers and establishments. Matters coated will embrace the River Valley Mission Prefeasibility Examine and ongoing geophysical applications on the Manitoba Lithium Division. The dialogue will spotlight growth and working methods and strategic path for 2021 and past. Traders keen on collaborating on this occasion should register utilizing the hyperlink under. As a reminder, registration for the reside occasion could also be restricted however accessed for replay after the occasion. A replay hyperlink will likely be obtainable on the Firm’s investor web site.
The Company has issued 73,297 common shares at a deemed value of $0.185 per share to Agora Internet Relations Corp. (“AGORACOM”) pursuant to the terms of the March 2020 agreement. The securities issued represent the final payment for services under the terms of the agreement and are subject to a four month plus one day hold period expiring August 13, 2021.
Investors are invited to visit the New Age Metals website at www.newagemetals.com where they can review the company and its corporate activities. Any questions or comments can be directed to email@example.com or Harry Barr at Hbarr@newagemetals.com or Cody Hunt at Codyh@newagemetals.com or call 613 659 2773.
If you have not done so already, we encourage you to sign up on our website (www.newagemetals.com) to obtain our up to date information.
The contents contained herein that relate to Exploration Outcomes or Mineral Assets for the River Valley Mission is predicated on data compiled, reviewed or ready by Dr. Invoice Stone, P.Geo., a consulting geoscientist for New Age Metals. Dr. Stone is the Certified Individual as outlined by Nationwide Instrument 43-101 and has reviewed and permitted the technical content material of this information launch.
On behalf of the Board of Administrators
Harry G. Barr
Chairman and CEO
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