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New Age Metals Delineates 3rd Lithium Project To Drill Stage On Its Lithman West Project In Southeast Manitoba $NAM.ca

Posted by AGORACOM-JC at 9:54 AM on Tuesday, May 16th, 2017

New age large

  • Project situated in the Winnipeg River-Cat Lake Pegmatite Field, west of the world-class Tanco Pegmatite
  • Numerous Lithium-bearing minerals known to exist in the region
  • Compilation work of historic assessment work reveals numerous untested rock and soil geochemical anomalies on the Lithman West Project
  • New Age Metals is looking for JV partners for its Lithium division.

 

Vancouver, Canada / May 16, 2017 – New Age Metals (“NAM”, the “Company”) (TSX.V: NAM; Frankfurt: P7J.F; OTCQX: PAWEF) is pleased to provide an exploration update on the Lithman West Project in Southeast Manitoba. The project is held under NAM’s 100% owned subsidiary, Lithium Canada Development Inc.

While compiling the historic geological data for the project areas, several untested geochemical targets were identified. None of the historic work has been verified with a NI-43-101, and therefore is considered non-compliant. The mineral claims were previously held by the Tantalum Mining Corporation of Canada (Tanco), which carried out rock and soil geochemistry in 1977 and between 1999 and 2007. Soil and rock samples were collected at 25 metre intervals on grid-lines 100 metres apart. Most of the historic work focused on the northern portion of the Lithman West Project area, with soil geochemistry completed over most of the project area. Soil samples were analyzed using the Enzyme Leach technique at Activation Laboratory. The lithogeochemistry targets are identified based on enrichment of Lithium, Rubidium and Cesium in host rocks. When pegmatites are emplaced, metasomatic fluids enrich the host country rocks in Lithium, Rubidium and Cesium. The metasomatic enrichment of the host rocks in the case of Lithium can occur up to 100 metres away from the pegmatites, whereas Rubidium and Cesium have smaller metasomatic aureoles. Using the three elements (Li+Rb+Cs) in conjunction and statistically determining background based on rock type, the identification of anomalous and highly anomalous rock types can be used to generate the lithogeochemical targets. This was Tanco’s procedure with regards to lithogeochemistry and all their historical exploration data are available in assessment files at the Manitoba Mines Branch.

All lithogeochemical anomalies (see Figure 1) appear to be oriented East-West, which is the general orientation of other lithium-bearing pegmatites in the Winnipeg River-Cat Lake

Pegmatite Field. Six Li+Rb+Cs lithogeochemical anomalies are recognized from compilation of historical assessment files on the Lithman West Project. Lithogeochemistry has only been carried out on the northern portion of the project area by previous explorers. Four of the lithogeochemical anomaly targets have been defined to be approximately 150 metres to 200 metres long and 25 metres to 50 metres wide. These targets appear not to have been drill tested. The two largest of the lithogeochemical anomalies is the Krista’s Pond Anomaly and Bernes Bay Anomaly (Figure 2). The Krista’s Pond Anomaly is tear-drop shaped and approximately 1200 metres long and 150 metres maximum width. This anomaly has not been drill tested, even though it appears to be a moderate to strong lithogeochemical target. The Bernes Bay anomaly on the project area is approximately 1000 metres long by 1500 metres wide. Previous work indicates that this anomaly extends eastward to the westernmost bay of Bernic Lake. This anomaly was considered to be a high priority target in 1977 and was tested with three shallow drill holes.


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Figure 1: Historic Rock (Li+Rb+Cs) Geochemical Anomalies – Lithman West Project

Seven soil Enzyme Leach anomalies have been defined from compilation of past Tanco exploration work (Figure 2). These anomalies are varying shapes and sizes. Areas where the soil and rock geochemistry overlap or nearly overlap are considered to be the highest priorities for follow-up drilling.


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Figure 2: Historic Soil (Enzyme Leach) Geochemical Anomalies – Lithman West Project

It is recommended that a diamond drill program be carried out in order to drill test the soil and rock geochemical anomalies (Figures 1 and 2). These are drill ready targets based on the historic geological exploration. In addition, it is recommended that follow-up geological work be carried out over the anomalies and that rock lithogeochemistry be completed on the southern portion of the project area.

The Company has five Lithium Pegmatite projects in the Winnipeg River-Cat Lake Pegmatite Field of Southeast Manitoba. This pegmatite field (Figure 3) is host to the world-class Tanco Pegmatite, a highly fractionated Lithium-Cesium-Tantalum (LCT)-type pegmatite, which has been mined at the Tanco Mine for Lithium-bearing minerals (Spodumene), Tantalum, Beryllium, Rubidium and Cesium since 1969. There are no current NI43-101 compliant reports, but academic reports suggest that the Tanco Pegmatite prior to the start of mining was approximately 1520 metres long, 1060 metres wide, and up to ~100 metres thick with a volume of ~21,850,000 m3 and a mass of ~57,430,000 tonnes.Numerous other lithium-bearing pegmatites exist within the pegmatite field.

 


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Figure 3: Approximate Outline of the Winnipeg River-Cat Lake Pegmatite Field

(Lithium Canada claim locations in green and the Tanco Mine Leases in red)

The Company has two other drill ready targets for lithium-bearing pegmatites in the Pegmatite Field (News Release Feb 22nd, 2017). To date, the Company has approximately 6,318 hectares (15,612 acres) of mineral claims, with Lithium Mineral Potential in the Winnipeg River-Cat Lake Pegmatite Field of southeast Manitoba. NAM is the largest mineral claim holder in the Pegmatite Field. As part of Company’s Prospector Generator Model, negotiations are currently ongoing with interested 3rd parties for possible Option/Joint Ventures and other Exploration Initiatives.

ABOUT NAM’S PGM DIVISION

NAM’s flagship project is its 100% owned River Valley PGM Project (PFN Website – River Valley Project) in the Sudbury Mining District of northwest Ontario (60 kilometres due east of Sudbury, Ontario). Presently the River Valley Project has Measured + Indicated Resources of 91 million tonnes @ 0.58 g/t* Palladium, 0.22 g/t Platinum, 0.04 g/t Gold at a cut-off grade of 0.8 g/t for a PdEq of 2,463,000 ounces PGM plus Gold. River Valley PGM-Copper-Nickel sulphide mineralized zones remain open to expansion and is undergoing continued exploration.

QUALIFIED PERSON

The contents contained herein that relates to Exploration Results or Mineral Resources is based on information compiled, reviewed or prepared by Dr. Bill Stone, Principal Consulting Geoscientist for New Age Metals Inc. Dr. Stone is the Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical content.

On behalf of the Board of Directors

“Harry Barr”

Harry G. Barr

Chairman and CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward Looking Statements: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. In addition, forward-looking statements include statements in which the Company uses words such as “continue”, “efforts”, “expect”, “believe”, “anticipate”, “confident”, “intend”, “strategy”, “plan”, “will”, “estimate”, “project”, “goal”, “target”, “prospects”, “optimistic” or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company’s ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company does not undertake any obligation to review or confirm analysts’ expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forward-looking statements.

NAM Commences 2017 Exploration Program At The River Valley Pgm Project $NAM.ca

Posted by AGORACOM-JC at 9:30 AM on Wednesday, May 10th, 2017

New age large

  • Closed $2,614,762 Private Placement, April 27, 2017
  • Signed contract with Abitibi Geophysics to commence surface geophysical program
  • Projects cover 16 km long River Valley PGM deposit
  • River Valley is the Largest Undeveloped Primary PGM resource in Canada, with 2.5 Moz PGM, in Measured Plus Indicated mineral resources and near-surface covering over 16kms of strike
  • New discovery in 2015: 3.91 g/t Pd+Pt/9m from 145m in drill hole 2015-DN002
  • Discovery confirmed in 2016: 4.07 g/t Pd+Pt/9m from 202m in drill hole DN-T2-06
  • Upon completion of the geophysical program, drilling slated for summer 2017.

MAY 10, 2017 Vancouver, Canada – New Age Metals Inc. (“NAM” and the “Company”) (TSX.V: NAM; OTCQB: PAWEF) is pleased to announce that the Company plans to commence its 2017 Exploration Program this spring with a surface geophysical program at the Pine Zone of the River Valley platinum group metal (PGM) deposit near Sudbury, Ontario (Figure 1). The Pine Zone is one of many PGM zones within the district-scale River Valley PGM Project and was most recently drilled in the fall of 2016 (see to press release dated December 13, 2016). The 2016 drill program confirmed the higher-grade, near-surface PGM discovery made previously in the 2015 drill program (see press release dated March 11, 2015) and highlighted the continuity of the mineralization for 200 metres along strike and 100-200 metres depth. The Pine Zone remains open along strike and at depth. The surface geophysical survey will be performed to test the potential for eastwards and southwards extension of the Pine Zone and aid generation of new targets for drill testing later in 2017.

The 2017 Exploration Program will begin in May-June with cutting of a line grid for the surface geophysical induced polarization (IP) survey. The IP survey itself will consist in part of a detailed orientation survey to record geophysical responses over known geologic features and higher-grade PGM mineralization located in the Pine Zone and the adjacent Dana North Zone (Figure 2). The orientation survey will produce a geophysical fingerprint, which can be used to target favorable geologic features and potentially identify additional blind, structurally controlled PGM mineralization to the east, down-dip and up-dip of the Pine Zone, and elsewhere at River Valley for drill testing. Approximately 2 km of untested potential for discovery of additional mineralization presently exists along strike between the current drilled extent of the Pine Zone and the under explored Pardo Zone to the northwest (Figure 2).

The geophysical survey will be a high-resolution OreVision(R) IP survey performed by Abitibi Geophysics (Thunder Bay, Ontario). OreVision IP can reveal targets at four times the depth of conventional IP without compromising near-surface resolution. The survey size will be 20 line-km over an area measuring 1.1 sq km (Figure 3). The survey will be performed along NW-SE trending, 50m to 100m spaced cut-lines across the apparent strike direction of the geological features controlling the Pine Zone. The depth of investigation is planned to be 440m, which is 40m below the maximum predicted depth of the Pine Zone in this area. In addition to the OreVision(R) IP survey, Abitibi Geophysics will also survey two open drill holes through the host geology and PGM mineralization for physical property measurements. The physical property data will benefit 3D inversion and modelling of the OreVision(R) survey dataset, thereby aiding generation of high priority targets for drill testing. Target generation will be followed by a ~5000 metre drill program in the summer or fall of 2017.


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Figure 1. Location of NAM’s 100% owned River Valley PGM Project.


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Figure 2. Property scale geological map showing the location of the Pine Zone discovery relative to the Dana North Zone immediately to the west and the Pardo Zone 2 km to the northeast. Note the apparent dextral sense of offset of the River Valley PGM deposit (red) across the Grenville Front Tectonic Zone.


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Figure 3. Design map grid for the OreVision(R) IP surface survey in the Pine Zone-Dana North Zone (DNZ) area of the River Valley PGM Project. WBSZ = West Boundary Shear Zone. Solid black circles = diamond drill hole collar locations.

ABOUT NAM’S PGM DIVISION

NAM’s flagship project is its 100% owned River Valley PGM Project (NAM Website – River Valley Project) in the Sudbury Mining District of NW Ontario (100 km east of Sudbury, Ontario). Presently, the River Valley Project has Measured + Indicated resources of 91 million tonnes @ 0.58 g/t* Palladium, 0.22 g/t Platinum, 0.04 g/t Gold, at a cut-off grade of 0.8 g/t for a PdEq of 2,463,000 ounces PGM plus Gold. The River Valley PGM-Copper-Nickel Sulphide mineralized zones remain open to expansion and are undergoing continued exploration.

In 2016, the company acquired the River Valley extension property which added approximately 4kms to the project mineralized strike length.

ABOUT NAM’S LITHIUM DIVISION

The Company has several Hard Rock Lithium Projects in Canada:

To date the Company has acquired 5 hard rock (Pegmatite) Lithium Projects, in the Winnipeg River Pegmatite Field, in SE Manitoba. This Pegmatite Field hosts the giant Tanco Pegmatite that has been mined for Tantalum, Cesium and Spodumene (one of the primary Lithium ore minerals) in varying capacities, since 1969. Today, the Tanco Mine is focused on the mining of Pollucite (primary Cesium ore) and the production of Cesium Formate, a completion drilling fluid for the petroleum industry. NAM’s Lithium Projects are strategically situated in this prolific Pegmatite Field. Presently, NAM is the largest mineral claim holder in the Winnipeg River Pegmatite Field and is seeking JV partners to further develop the company’s Li division.

The Company also announces that it has issued an aggregate of 287,954 common shares to Agora Internet Relations Corp. (“AGORACOM”). The securities issued represent the payment for services under the terms of an existing agreement and are subject to a four month plus one day hold period expiring September 3, 2017.

QUALIFIED PERSON

The contents contained herein that relate to Exploration Results or Mineral Resources is based on information compiled, reviewed or prepared by Dr. Bill Stone, Principal Consulting Geoscientist for Pacific Northwest Capital. Dr. Stone is the Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical content of this news release.

On behalf of the Board of Directors

“Harry Barr”

Harry G. Barr

Chairman and CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward Looking Statements: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. In addition, forward-looking statements include statements in which the Company uses words such as “continue”, “efforts”, “expect”, “believe”, “anticipate”, “confident”, “intend”, “strategy”, “plan”, “will”, “estimate”, “project”, “goal”, “target”, “prospects”, “optimistic” or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company’s ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company does not undertake any obligation to review or confirm analysts’ expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forward-looking statements.

MUST READ WEEKEND FEATURE: New Age Dawns for Palladium $NAM.ca

Posted by AGORACOM-JC at 3:54 PM on Friday, February 24th, 2017

 

Primary PGM deposits are rather rare beasts in North America (indeed everywhere outside Russia and South Africa), the River Valley project of New Age Metals deserves special attention as PGMs are likely to become a subject of much interest in the next few years and the alternatives in terms of developers are few and far between

| February 22, 2017 |

While Lithium sets the pulse racing of some investors, in the case of New Age Metals Inc. (TSXV: NAM | OTCQB: PAWED) it is its PGM potential that is the standout feature. And of that, we particularly like that its Pd to Pt ratio is 2.5:1 as we are much more disposed to Palladium than Platinum at this time. As primary PGM deposits are rather rare beasts in North America (indeed everywhere outside Russia and South Africa), the River Valley project of New Age Metals deserves special attention as PGMs are likely to become a subject of much interest in the next few years and the alternatives in terms of developers are few and far between. In this article we shall look at what makes New Age Metals interesting.

Palladium – Back on a Tear

This metal may be Platinum’s less precious sister but it has been attracting more of the limelight in recent months. Despite substantial sell-offs from the South African-based ETFs (which was hoovered up by China apparently) the metal just kept bouncing back and as the chart below shows is heading into territory that represents multi-year highs. Indeed the last time it was at these levels was in early 2015.

The increase is said to be attributable not only to a noticeable drop in production of platinum group metals in South Africa in November, but also to an extension of tax breaks for car buyers in China. However some market pundits have claimed that the tax breaks in China are not a sufficient factor to explain the moves. All attempts at propagating bad news about the metal tends to just precede a rebound.

As long as auto sales continue around about their recent healthy levels then the prospect is for palladium (and platinum) to continue their gradual rise.

New Age and PGMs

The company’s River valley project is located in a road-accessible location in the Dana and Pardo townships of Northern Ontario, approximately 60km east of Sudbury, Ontario. The area is part of Canada’s prime Ni-Cu-PGM mining and smelting district with excellent infrastructure and community support for mining activities.

The River Valley PGM project became a target for Pacific North West Capital (PFN) in 1998. PFN discovered significant PGM occurrences on the property and entered into a joint venture agreement with Anglo Platinum in 1999. PFN was the operator of the joint venture. The project consists of two Mining leases covering an area of 5,381 hectares, including 4,756 hectares of Surface and Mining Rights and an additional 624 hectares of Mining Rights. These Mining Leases cover all of the NI43-101 mineral resources of the River Valley PGM Project. In January 2011, the company completed the terms for the acquisition of 100% of the project from Anglo Platinum Limited. The property remains subject to a 3% NSR, with options to buy down.

Geology

The River Valley intrusion (RVI) is shallow-dipping, layered, and approximately 900 m thick. There is an increase in metamorphic grade from the northwest part of the intrusion (middle greenschist facies) to the southeast part (lower amphibolite). The dominant rock types are leucogabbronorite and leucogabbro with gabbros and anorthosites . Along the Grenville Front, the RVI is either in thrust contact with quartzite of the Huronian Mississagi Formation or is in contact with mafic and felsic metavolcanic rocks of the lower Huronian Supergroup where the nature of the contact is unknown.

The map below shows the concession and in dark red can be seen the main identified areas of PGM mineralisation.

Two styles of mineralization have been observed at the Project; contact nickel-PGE and reef PGE mineralization. In the resource estimate Tetratech note that the presence of several highly anomalous assays from rocks lying within higher portions of the River Valley Intrusion’s stratigraphy (i.e. Azen Creek Wonder Showing) suggests that there are opportunities for PGE mineralization such as reef or stratabound-type targets or, narrow, high-grade breccia zones. The image below shows an axonometric view of the Dana South and Dana North and Banshee segments of the deposit (which are located at the northern end thereof).

Exploration

The exploration history of the region dated back to the 1960s, with work on the property starting in earnest in 1999. Completed exploration and development programs on the River Valley property include more than 600 holes drilled since 2000 and several mineral resource estimates and metallurgical studies.

The 2015 drill program confirmed the new high-grade T2 discovery. Drill hole intercepts were much higher than the average grade of current mineral resource estimate. There is the possibility of a new mineralized zone at the north end of the River Valley deposit.

In 2015-16 seven drill holes at Pine Zone intersected high-grade PGM mineralization of:

  • Hole 2015-DN002 intersected 9 m grading 3.909 g/t Pd+Pt from 145 m downhole
  • Hole 2015-DN001 intersected 16 m grading 2.054 g/t Pd+Pt from 184 m downhole
  • Hole 2016-DN-T2-06 intersected 9 m grading 4.065 g/t Pd+Pt from 178 m downhole
  • Hole 2016-DN-T2-10 intersected 4m grading 3.093 g/t Pd+Pt from 202 m downhole

Resource

The most recent resource estimate dates from  May 2012 and were prepared by Tetratech. The estimate utilized a Cut-Off Grade of 0.8 g/t PdEq.

The results of which were:

Of which the contained “precious” metals were:

There are also showings of copper, nickel and silver but really this project will stand or fall on its PGM content and from the resource it is clear that these are starting to stack up as meaningful indeed.

Results for the most recent Metallurgical Testwork Study (prepared by Tetra Tech – Wardrop) are summarized below:

  • High Confidence: Measured plus Indicated = 72% of total
  • High Grade potential, particularly in the north part of River Valley deposit
  • Resources under evaluation for development potential as open pit mining operation

Adding to the Patch

In August 2016 PFN acquired what it calls the River Valley Extension Project (to the southeast of the existing claims) from Mustang Minerals Corp. With this transaction the area of the strategic land position at River Valley increased to 64 km2 (15,800 acres). More importantly the strike length of River Valley deposit increased from 12 km to 16 km. Not much work has been done as yet but surface grab samples returned assays of up to 10 g/t  of PGMs.

Next Steps

The plan for 2017 is to undertake:

  • Three-dimensional Geological and Structural Modelling
  • IP geophysical surveys over the new Pine Zone
  • Phase 3 Drilling of Pine Zone
  • Develop additionalstructural PGM targets for priority drill testing
  • Design Phase 4 Drill Plan

This work has a rather unchallenging provisional budget of around CAD$1mn.

As far as a mine plan is concerned that company plans to take the roughly 600,000 ounces it has in the Northern Portion of the Project up to one million ounces and then wrap a PEA around that.

  • Delineation and infill drilling of Pine Zone
  • Updated Mineral Resource Estimate
  • Phase 1 drill tests of other structural targets for higher grade mineralization (south from the Pine Zone in the area from T3 to T9)
  • Carry out Phase 2 metallurgical testwork

The timing for PEA (if all goes well) might be 12 to 15 months. This work has a provisional budget of a more challenging CAD$5mn.

Conclusion

The main priority for New Age now is its ongoing search for a strategic partner for the River Valley project. While the company has some secondary interests in Lithium, it’s more PGM projects that the market needs at this juncture. With the prices for this rarified group of metals showing a healthy rebound, those investors in search of the next companies to move towards production have little beyond New Age and Wellgreen to conjure with.

Considering that the recovery in PGM prices is now no longer in question we must wonder why the market seems to have missed the intrinsic virtues of the River Valley Project. We suspect it is more a case of the Canadian investor community still being in thrall to the gold price even when the gold price is quite patently not delivering in the way that PGMs are. When one overlays the industrial necessity for PGMs and the fact that the two largest producer nations are somewhat erratic there would appear to be space for the two challenger companies to join the two existing plays (North American Palladium and Stillwater, the latter being taken over by Sibanye) in the universe for consideration. At its current market capitalization New Age is patently undervalued on the basis of its sizeable in situ resource of PGMs.

With the resurgence of Palladium (and Platinum), a name change to a more pertinent designation (and a stock rollback) a New Age, to belabor the pun, should be dawning for this company.

Source: https://investorintel.com/sectors/gold-silver-base-metals/gold-precious-metals-intel/new-age-dawns-palladium/

Lithium: The Fuel of the Green Revolution $DGO.ca $FMR.ca $SX.ca $BFF.ca $NAM.ca

Posted by AGORACOM-JC at 4:26 PM on Wednesday, February 15th, 2017

VIDEO FEATURE: New Age Metals – 121 Mining Investment Cape Town 2017 $NAM.ca

Posted by AGORACOM-JC at 4:32 PM on Monday, February 13th, 2017