Could 12, 2021 – TheNewswire – Rockport, Ontario – New Age Metals Inc. (TSXV:NAM ) ; ( OTC:NMTLF ) ; ( FSE:P7J.F) (“NAM” or “Firm”) is happy to announce initiation of a metallurgical examine at its 100% owned flagship River Valley PGM Challenge close to Sudbury, Ontario. The first goal of the examine is to research the optimum movement sheet parameters for processing mineralized materials from the River Valley Palladium Challenge. The outcomes of the metallurgical examine might be included into the Firm’s Prefeasibility Research (“PFS”) of River Valley (see Firm press launch dated April 12, 2021), which is slated for completion in H1 2022.
4 new HQ-size drill holes have been designed to offer recent mineralized materials for the 2021 metallurgical examine (Determine 1); one gap every on the Dana North, Dana South, Lismer North and Lismer Ridge mineralized zones (Desk 1). These zones mixed characterize roughly
4 km of the 16 km lengthy River Valley Palladium Deposit . Every HQ-size gap might be drilled for about 200 m down via sulphide mineralized materials and supply as much as 1000 kg of recent mineralized rock and wall rock for the assaying and metallurgical testwork functions.
A contract with Multi Drilling of Rouyn-Noranda (Quebec) has been signed and the drilling is deliberate to begin in early June 2021.
Harry Barr, NAM Chairman and CEO feedback, “Earlier metallurgical take a look at work research on the River Valley Challenge targeted on recent mineralized drill core and floor samples from the Dana North and Dana South Zones. For the 2021 metallurgical examine, the sampling is being expanded southwards to incorporate the strategic Lismer North and Lismer Ridge Zones, to finish protection of the Indicated and Measured Mineral Assets within the northern 4 km strike-length of the 16 km lengthy River Valley Deposit . The metallurgical outcomes might be included within the Prefeasibility Research for improvement planning of a bulk-tonnage, open pit mining operation on the River Valley Palladium Challenge.”
Determine 1. Map displaying the places of the deliberate metallurgical drill holes on 4 of the mineralized zones (pink) of the River Valley Palladium Deposit close to Sudbury, Ontario. Mineralization continues for an additional 12km southwest (not proven in Determine 1).
TABLE 1 PLANNED COLLAR LOCATIONS, ORIENTATIONS AND LENGTHS FOR THE 2021 METALLURGICAL DRILL HOLE PROGRAM AT RIVER VALLEY
*Contingency for LNZ-21-01m
Collar coordinates NAD83 z17N
Deliberate drill holes DN-21-01m and DS-21-02m will pattern the Dana North and Dana South Zones respectively (Determine 1), that are the important thing zones for any preliminary mining operations at River Valley.
Gap LN-21-01m will pattern Lismer North, the place the very best grades of rhodium (0.877 g/t Rh) at River Valley have been intersected in historic drilling . Gap LR-21-01m will pattern the a lot bigger Lismer Ridge Zone for the primary materials from there to bear metallurgical testwork.
The metallurgical examine might be managed by David Salari, P.Eng. of D.E.N.M Engineering Ltd in Burlington, Ontario. The drill core samples might be transported to SGS Canada Inc. of Lakefield, Ontario (“SGS”) for assaying, compositing, variability, mineralogical, grinding, environmental and Platsol TM research on the composited samples. SGS accomplished an preliminary metallurgical testwork examine on the Dana North and Dana South Zones in 2012, which might be referenced for preliminary testing circumstances and testwork outcomes. This new metallurgical examine would be the first-time supplies from outdoors the Dana North and Dana South Zones are included in testwork research. Particulars of the metallurgical testwork program would be the topic of a future press launch.
About River Valley
The River Valley Palladium Challenge is positioned 100 road-km east from the Metropolis of Sudbury. The Challenge 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 fuel energy close by. Environmental baseline research re-commenced in 2020 and proceed via 2021.
The present Mineral Useful resource Estimate was introduced in a Firm press launch dated January 15, 2019 and relies on metallic costs considerably decrease than at present . 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 metallic 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 Challenge have 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 median of 119,000 ounces of PdEq per yr over a mine lifetime of 14 years. Utilizing base case metallic costs of US$1,200/oz Pd, $1,050/oz Pt and $3.25/lb Cu, the PEA confirmed a pre-tax NPV 5% of US$261 million and a pre-tax IRR of 13%. At a +20% palladium value of $1,440/oz Pd, the pre-tax NPV 5% will increase to $501M and the pre-tax IRR to 19%. The present value of Pd is roughly $2,900/oz Pd.
New Age Metals is a junior mineral exploration and improvement firm targeted on the invention, exploration and improvement of inexperienced metallic tasks in North America. The Firm has two divisions; a Platinum Group Metals division and a Lithium/Uncommon Component division.
The PGM Division contains the 100% owned, multi-million-ounce, district scale River Valley Challenge, one in all North America’s largest undeveloped Platinum Group Metals Initiatives, located 100 km from Sudbury, Ontario. The Firm has lately accomplished a Preliminary Financial Evaluation on the undertaking and, plans are to finish a Pre-Feasibility Research by the tip of the primary quarter of 2022 . In Alaska, the Firm owns 100% of the Genesis PGM-Cu-Ni Challenge, an early-stage exploration property.
The Lithium Division is among the largest mineral declare holders within the Winnipeg River Pegmatite Area, the place the Firm is exploring for exhausting rock lithium and varied uncommon parts comparable to tantalum, cesium, and rubidium. 2021 plans embody drone geophysics on three of the Firm’s seven tasks and a drill program on the Firm’s Lithium Two Challenge.
Our philosophy is to be a undertaking generator with the target of optioning our tasks with main and junior mining corporations via to manufacturing. The Firm is actively in search of an choice/ three way partnership accomplice for its road-accessible Genesis PGM-Cu-Ni undertaking in Alaska and for all or a part of our Lithium Division in Manitoba.
Buyers are inspired to go to the New Age Metals web site at http://www.newagemetals.com the place they’ll evaluate the corporate, the tasks and its company actions. Any questions or feedback might be directed to the next: email@example.com or Harry Barr at Hbarr@newagemetals.com or Cody Hunt at Codyh@newagemetals.com or name 613 659 2773.
We encourage you to enroll on our web site ( 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 Challenge relies on data compiled, reviewed or ready by Dr. Invoice Stone, P.Geo., a consulting geoscientist for New Age Metals. Dr. Stone is the Certified Particular person as outlined by Nationwide Instrument
43-101 and has reviewed and authorized the technical content material of this information launch.
On behalf of the Board of Administrators
“ Harry Barr”
Harry G. Barr
Chairman and CEO
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