Among North America’s Leaders in PGM & Lithium Exploration
Updated NI 43-101 Mineral Resource Estimate 2,867,000 PdEq Measured and Indicated Ounces, with an additional 1,059,000 PdEq Ounces in the Inferred
Two Divisions: PGM and Lithium
- PGM Division: focus on Development of the 100% owned River Valley PGM Project.
- Updated NI 43-101 Mineral Resource Estimate 2,867,000 PdEq Measured and Indicated Ounces, with an additional 1,059,000 PdEq Ounces in the Inferred Classification
- Lithium Canada: with a focus on Exploration of Hard Rock Lithium, in Manitoba, Canada. The company uses the Prospector Generator Model.
WHAT YOU NEED TO KNOW
- 100% owned River Valley Extension Project (RVE), is undergoing its first PEA Study.
- Excellent infrastructure and are within 100 kilometers of the Sudbury Metallurgical Complex.
- Advanced stage mineralogical testing is ongoing in Sudbury at Expert Process Solutions (XPS).
- The price of Palladium, the prominent metal at River Valley is trading at $971.15USD (June 2018 from Kitco.com) near its all-time high based on limited supply and increasing demand.
- Engaged DRA Americas Inc to Collaborate with P&E Mining Consultants Inc to Complete Preliminary Economic Assessment on the River Valley PGM Project
River Valley PGM Project is located 100 km east of Sudbury, Ontario
The amended January 9, 2019 NI 43-101 Mineral Resource Estimate confirms that the River Valley Project has 2,867,000 Measured and Indicated PdEq ounces, with 1,059,000 PdEq ounces in Inferred at a 0.35 g/t and 2.0 g/t PdEq cut-off for open pit and underground respectively.
The amended and restated Mineral Resource Estimate presents a Mineral Resource that demonstrates reasonable prospects for eventual economic extraction.
The new pit constrained Mineral Resource will be more representative of the potentially economic portion of the Mineral Resource that will be disclosed in the upcoming 2019 Preliminary Economic Assessment (PEA)
River Valley is the largest undeveloped primary PGM Mineral Resource in North America. The Project has excellent infrastructure and is within 100 kilometres of the Sudbury Metallurgical Complex. The Project is 100% owned by New Age Metals.
The Project's first economic study (Preliminary Economic Assessment) is slated to be completed on or before the end of Q2 2019.
NAM Announces Acquisition of the River Valley PGM Extension Project from Mustang MineralsCorp.
- Strike Length of NAM’s River Valley Deposit Increased from 12 km to 16 km
- Mustang’s surface grab samples returned Assays of up to 10 g/t PGM
- Drilling Highlights Include:
- 1.4 g/t PGM/9.0m in MR02-59 from 35m downhole
- 4.0 g/t PGM/2.1m in MR02-62 from 153.7m downhole
- 2.2 g/t PGM/4.5m in MR02-64 from 60.5m downhole
- PGM mineralization is Open at Depth and footwall potential remains untested
- T2-like Targets identified from Favourable Geological and Geophysical Surveys
- The Tanco Mine was one of North America’s only
- producers of Tantalum, Cesium and Lithium minerals (Spodumene), with the mine opening in 1969. Owned by the Cabot Corporation as of 1993
- Presently the Tanco Mine produces Cesium Formate, a completion fluid for the petroleum industry.
- At the end of 1992 (last published historic mineral inventory) was 1.075 Mt of 0.12% Ta2O5, 3.5 Mt of 2.7% LiO2 and 315,000 t of 23.3% Cs2O
- Targets under evaluation for drill testing
Signed Agreement to Acquire 100% of the Genesis PGM Project in Alaska
Signed an agreement with Anglo Alaska Gold Corp. to acquire 100% interest of the 10,240 acre road accessible and drill ready Genesis PGM Project, located in the Valdez and Chitina Recording District, of Alaska.
Figure 1: Projects Location Map: The road accessible Genesis PGM Project adjacent to Richardson Highway and 138 kv electric lines. The project is 460 road kilometers to Fairbanks, Alaska and 120 road kilometers to the all-weather port city of Valdez
Merits of the Genesis PGM Project
The Genesis PGM Project is an under explored, highly prospective multi-prospect drill ready Pd-Pt-Ni-Cu property that warrants follow-up drilling, additional surface mapping, sampling to expand the known footprint of mineralization and to determine the ultimate size and grade of the layered mineralization outlined to date. The stable land status, ease of access and superb infrastructure make this project prospective for year-around exploration, development and production.
Significant aspects of the Genesis PGM Project include:
- Drill ready PGM-Ni-Cu reef style target with 2.4 grams/ton Palladium (Pd), 2.4 grams/ton Platinum (Pt), 0.96% Nickle (Ni), and 0.58% Copper (Cu).
- Reef mineralization is open to the west, east, north, and at depth
- Mineralized reef identified in outcrop for 850 m along strike and a 40 m true thickness
- Separate style of chromite mineralization contains Platinum Group Metals (PGM) up to 2.5 g/t Pd and 2.8 g/t Pt.
- Known PGM mineralization covers a distance of 9 km across the prospect.
- No historic drilling has been done on the project.
- Project is within 3 km of a paved highway and electric transmission line.
- Project is on stable State of Alaska claims.
- Fraser Institute's 2017 survey of mining companies has Alaska ranked as the 10th best jurisdiction in the world for mining.