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 Research of its 100% owned River Valley Palladium Challenge close to Sudbury, Ontario (Canada). The Pre-Feasibility Research will probably be undertaken over the following 8 to 12 months, with completion slated for early 2022.
The Pre-Feasibility Research will probably be accomplished by 4 engineering corporations: P&E Mining Consultants Inc. for Preliminary Mineral Reserve estimation, mine planning, financial evaluation and Challenge 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 influence interactions and allowing. P&E Mining Consultants Inc. will probably be updating the Mineral Useful resource Estimate and main the preparation of the Pre-Feasibility Research NI 43-101 Technical Report.
Harry Barr, Chairman and CEO, stated, “We’re extraordinarily happy to have assembled such a formidable group for our Pre-Feasibility Research. These corporations will work along with NAM to optimize the worth of the River Valley Palladium Challenge, by maximizing the financial facets whereas minimizing the environmental impacts and benefitting the native communities. The River Valley Challenge will probably be very well-timed for the inexperienced steel revolution.”
Work for the Pre-Feasibility Research is deliberate to begin this month. 4 new holes will probably be drilled by NAM to get better contemporary materials for brand new mineral processing and metallurgical testwork. The SGS Canada Inc. and D.E.N.M group 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 Challenge, primarily based on new drilling and excavations by NAM within the areas of the open pit mines, processing plant, waste dumps and tailings services, 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 businesses 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 Challenge. The mineralized zones and design open pits fashions will probably be up to date as a part of the Pre-Feasibility Research.
Total, the Pre-Feasibility Research as led by P&E will think about optimized mine manufacturing and mineral processing charges primarily based on a probably extra priceless Up to date Mineral Useful resource Estimate than that which underpinned the 2019 PEA. The 2019 PEA had a constructive financial end result. For the Pre-Feasibility Research, nonetheless, River Valley Challenge economics are anticipated to learn 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 Research, NAM plans to proceed exploration geophysical and drilling packages so as to add, broaden and improve Mineral Sources and examine the grades and distribution of rhodium within the precedence mineralized zones of the River Valley Palladium Challenge.
About River Valley
The River Valley Palladium Challenge is situated 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 gasoline energy close by. River Valley enjoys the robust help 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 relies on steel 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 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 Challenge 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 value of $1,440/oz Pd, the pre-tax NPV5% will increase to $501M and the pre-tax IRR to 19%. The present value of Pd is roughly $2,600/oz Pd.
New Age Metals is a junior mineral exploration and improvement firm targeted on the invention, exploration and improvement of inexperienced steel initiatives in North America. The Firm has two divisions; a Platinum Group Metals division and a Lithium/Uncommon Ingredient division.
The PGM Division contains the 100% owned, multi-million-ounce, district scale River Valley Challenge, certainly one of North America’s largest undeveloped Platinum Group Metals Initiatives, located 100 km from Sudbury, Ontario. The Firm has just lately accomplished a Preliminary Financial Evaluation on the venture 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.
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 reminiscent of tantalum and rubidium. 2021 plans embrace drone geophysics on three of the Firm’s seven initiatives and a drill program on the Firm’s Lithium Two Challenge.
Our philosophy is to be a venture generator with the target of optioning our initiatives with main and junior mining corporations via to manufacturing. The Firm is actively searching for an choice/ three way partnership accomplice for its road-accessible Genesis PGM-Cu-Ni venture in Alaska and for all or a part of our Lithium Division in Manitoba.
The Firm will probably be taking part in Renmark’s Digital Non-Deal Roadshow Sequence on Monday, April 12, at 4:00 pm EST. The presentation will function Harry Barr, New Age Metallic’s Chairman & CEO presenting to shareholders, traders and establishments. Matters lined will embrace the River Valley Challenge Prefeasibility Research and ongoing geophysical packages on the Manitoba Lithium Division. The dialogue will spotlight improvement and working methods and strategic route for 2021 and past. Buyers concerned with taking part on this occasion should register utilizing the hyperlink under. As a reminder, registration for the stay occasion could also be restricted however accessed for replay after the occasion. A replay hyperlink will probably be obtainable on the Firm’s investor web site.
The Firm has issued 73,297 frequent shares at a deemed worth of $0.185 per share to Agora Web Relations Corp. (“AGORACOM”) pursuant to the phrases of the March 2020 settlement. The securities issued characterize the ultimate cost for companies beneath the phrases of the settlement and are topic to a 4 month plus sooner or later maintain interval expiring August 13, 2021.
When you’ve got not completed so already, 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 Sources for the River Valley Challenge relies on info 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 accepted 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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