June 10, 2021 – TheNewswire – Rockport, Ontario – New Age Metals Inc. (TSXV:NAM); (OTC:NMTLF); (FSE:P7J.F) (“NAM” or “Firm”) is happy to supply an replace on its rhodium assay and metallurgical drilling packages at its 100% owned River Valley Palladium Venture, positioned 100 km east of Sudbury, Ontario. These research are being carried out as key parts of a Pre-Feasibility Examine of the River Valley Venture, which was introduced in a Firm press launch dated April 12, 2021.
Rhodium Assay Program
The aim of the rhodium (“Rh”) assay program is to generate knowledge with which to judge whether or not Rh might be a payable metallic for any potential mining operation at River Valley. As a result of expense of the analyses, the Rh assay program might be multi-phase. In part 1 (2020), new Rh knowledge have been generated for 2015 to 2020 drill core from the Pine Zone (see firm press launch dated March 2, 2021). Historic knowledge space accessible for the Dana North Zone.
In Section 2 (the present part), Rh knowledge might be generated for the Lismer North Zone (aka Lismer Extension Zone) (Determine 1). To this finish, samples from eight (8) mineralized intervals in 4 diamond drill cores on a key cross-section have been chosen for Rh assay evaluation. The historic drill cores have been sampled and the 189 samples (plus blind QC) delivered to Geo Labs in Sudbury for preparation and high-sensitivity assay evaluation. Assay outcomes are anticipated in September. As of June 9, 2021, Rh is buying and selling for $US 19,800/oz (Kitco).
Determine 1. Geology map of the northern space of the River Valley Palladium deposit. Mineralized zones projected to floor. Mineral Useful resource Estimates utilizing 0.35 g/t PdEq cut-off and PdEq calculation of Preliminary Financial Evaluation (2019). The Huronian and Nipissing items (youthful) and the Grenville items (older) excluded for illustration functions.
Metallurgical Drill Program
The metallurgical drilling is being carried out to pattern contemporary materials for mineral processing and metallurgical research as a part of the continuing Pre-Feasibility Examine of River Valley. 4 holes are deliberate; one every on the Dana North Zone, Dana South Zone, Lismer North Zone and Lismer Ridge Zone. Every gap might be HQ measurement and drilled down by way of no less than 200 metres of PGM-Cu sulphide mineralization, with the intention to present loads of materials for complete metallurgical research.
At this level, metallurgical gap DN-21-01m has been accomplished on the Dana North Zone (Determine 2) and gap DS-21-01m is drilling on the Dana South Zone, 0.5 km to the south. Metallurgical holes LN-21-01m and LR-21-01m might be drilled on the Lismer North Zone and the Lismer Ridge Zone, respectively. The metallurgical drill program is deliberate to be accomplished earlier than the tip of June. The samples might be despatched to SGS for assay, compositing and metallurgical research and to Geo Labs for Rh assay evaluation.
Determine 2. Collar areas and traces (floor projections) of the deliberate metallurgical research drill holes overlain on 3D mineralization fashions and LiDAR DEM. 4 of the 5 deliberate holes are to be drilled (1 contingency). As of the date of this press launch, drill gap DN-21-01m is accomplished and DS-21-01m drilling.
The Firm pronounces that it has granted 1,900,000 incentive inventory choices to administrators, officers and consultants of the Firm at an train value of $0.18 per share for a interval of 5 (5) years from the date of grant in accordance with the Firm’s Inventory Possibility Plan. The Inventory Choices granted might be topic to vesting restrictions, acceptance by the TSX Enterprise Change and might be topic to regulatory maintain durations in accordance with relevant Canadian Securities Legal guidelines.
As well as, the Firm intends to increase the expiry date of an combination of 983,331 inventory choices initially granted to Administrators, Officers and Consultants of the Firm on July 15, 2016. Topic to TSX Enterprise Change approval the Firm will apply to increase the expiry date from July 15, 2021 to July 15, 2026. The train value of $0.21 will stay the identical.
Rh is the rarest and most beneficial of the PGMs. The primary use for Rh is in catalytic converters designed to wash automobile emissions. This metallic is especially efficient in cleansing nitric oxide emissions from inside combustion engine automobiles. The vast majority of Rh is produced as a by-product of platinum and palladium mining at grades usually ≤0.10 g/t Rh. South Africa is the world’s largest producer of Rh (~80%), adopted by Russia (~10%), Zimbabwe (~5%), Canada (~2%), and the USA (~2%).
About River Valley
The River Valley Palladium Venture is positioned 100 road-km east from the Metropolis of Sudbury. The Venture 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. River Valley enjoys the sturdy assist of native communities, just like the village of River Valley, 20 km to the south. A totally executed Memorandum of Understanding is in place with an area 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 metallic costs considerably decrease than as we speak. 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 Venture 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 12 months 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 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 $2,700/oz Pd.
New Age Metals is a junior mineral exploration and growth firm centered on the invention, exploration and growth of inexperienced metallic tasks 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 Venture, certainly one of 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 venture and, plans are to finish a Pre-Feasibility Examine by the tip of the primary half of 2022. In Alaska, the Firm owns 100% of the Genesis PGM-Cu-Ni Venture.
The Lithium Division is among the largest mineral declare holders within the Winnipeg River Pegmatite Discipline, the place the Firm is exploring for onerous rock lithium and numerous uncommon parts corresponding to tantalum and rubidium. 2021 plans embrace drone geophysics on no less than 5 of the Firm’s seven tasks and a maiden drill program on the Firm’s Lithium Two Venture.
Our philosophy is to be a venture generator with the target of optioning our tasks with main and junior mining corporations by way of to manufacturing. The Firm is actively in search of an possibility/ 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.
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The contents contained herein that relate to Exploration Outcomes and Mineral Assets for the River Valley Venture is predicated 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 authorized the technical content material of this information launch.
On behalf of the Board of Administrators
Harry G. Barr
Chairman and CEO
Neither the TSX Enterprise Change nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts duty for the adequacy or accuracy of this launch. Cautionary Be aware Relating to Ahead Trying Statements: This launch comprises forward-looking statements that contain dangers and uncertainties. These statements could differ materially from precise future occasions or outcomes and are primarily based on present expectations or beliefs. For this objective, statements of historic truth could also be deemed to be forward-looking statements. As well as, forward-looking statements embrace statements through which the Firm makes use of phrases corresponding to “proceed”, “efforts”, “anticipate”, “imagine”, “anticipate”, “assured”, “intend”, “technique”, “plan”, “will”, “estimate”, “venture”, “purpose”, “goal”, “prospects”, “optimistic” or related expressions. These statements by their nature contain dangers and uncertainties, and precise outcomes could differ materially relying on quite a lot of necessary elements, together with, amongst others, the Firm’s means and continuation of efforts to well timed and fully make accessible ample present public info, extra or completely different regulatory and authorized necessities and restrictions which may be imposed, and different elements as could also be mentioned within the paperwork filed by the Firm on SEDAR (www.sedar.com), together with the newest stories that establish necessary danger elements that might trigger precise outcomes to vary from these contained within the forward-looking statements. The Firm doesn’t undertake any obligation to overview or verify analysts’ expectations or estimates or to launch publicly any revisions to any forward-looking statements to replicate occasions or circumstances after the date hereof or to replicate the incidence of unanticipated occasions. Buyers mustn’t place undue reliance on forward-looking statements.