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#Palladium Price Hits 16-Year High #PGM $NAM.ca

Posted by AGORACOM-JC at 2:47 PM on Tuesday, October 17th, 2017
October 17, 2017  by SchiffGold

A UBS strategist told CNN she’s convinced palladium’s strength is driven by fundamentals.

Like silver, palladium has both industrial and investment value. It is used in cars, electronics, dentistry, and jewelry. Between 1988 and 2002, the Canadian mint produced a palladium Maple Leaf coin.

Commerzbank analysts talked up palladium in a note to its clients.

Palladium is continuing to soar. Not only does demand from the automotive industry appear robust — speculative financial investors are also remaining loyal to palladium.”

Analysts say the surge in the price of palladium is due to strong demand for the metal, coupled with tight supply. About 78% of the demand comes from the auto industry. The metal is used in catalytic converters for gasoline-powered engines. The drive to curb auto emissions and the “demise of the diesel engine” in passenger cars has boosted demand for the metal.

According to analysts at City Index, tight supply is the primary factor driving the price of palladium.

Palladium supply is at its lowest level for 14 years and demand has been outpacing supply since 2011.  There is a strong potential for an ongoing supply deficit in the coming months, which could trigger a further price rise.”

Joni Teves, an analyst at UBS, told the Telegraph there is a currently a major shortfall in palladium production. The market could hit a deficit of 830,000 ounces this year, as miners have cut back production due to unproductive mines and increasing mining costs.

Russia and South Africa lead the world in palladium production.

The palladium market’s downside stems from its heavy reliance on the auto industry. Some analysts say the eventual rise of electric vehicles will impact the demand for metals used in catalytic converters. But electronic car technology still appears a long way from mass consumer acceptance. Their lack of range, the need for frequent charging, and their cost makes electric vehicles less than ideal for the average person.

The palladium market is much more volatile than gold and silver, but it could serve as an excellent diversifier for your precious metals portfolio. Call 1-888-GOLD-160 to talk to one of SchiffGold’s precious metals specialists today to learn more about investing in palladium.

Source: https://schiffgold.com/key-gold-news/palladium-price-hits-16-year-high/

#Palladium tops $1,000 for first time since 2001 on auto demand #PGM $NAM.ca

Posted by AGORACOM-JC at 4:48 PM on Monday, October 16th, 2017
  • Palladium climbed above $1,000 an ounce for the first time since 2001 on hopes for rising demand from the car industry amid a shortage of supply
  • Prices for the metal, which is used in catalytic converters to curb pollution from mainly gasoline-powered vehicles, jumped as much as 1.9% to $1,010.22 on Monday in the spot market, before trading at $1,006.61 at 9:24am in New York

Singapore/London: Palladium climbed above $1,000 an ounce for the first time since 2001 on hopes for rising demand from the car industry amid a shortage of supply.

Prices for the metal, which is used in catalytic converters to curb pollution from mainly gasoline-powered vehicles, jumped as much as 1.9% to $1,010.22 on Monday in the spot market, before trading at $1,006.61 at 9:24am in New York. Gold for immediate delivery held near a three-week high.

Palladium is one of this year’s best-performing commodities, advancing 48%, more than three times the increase in gold and about 10 times the gain in its sister metal platinum.

“Palladium continues to be driven by the positive momentum created by expectations of a supply deficit amid rising demand,” Ole Hansen, head of commodity strategy at Saxo Bank A/S, said by email. Industrial metals have risen this year as the world economy recovers, and copper burst through $7,000 a metric ton on Monday for the first time since 2014.

Palladium became more expensive than platinum last month for the first time in 16 years. Prices for platinum, used in autocatalysts for diesel engines, have been hit as some European carmakers admitted to cheating emissions tests for such vehicles, curbing consumer demand.

Platinum declined 0.1% to $944.60 an ounce Monday.

Things could get worse. Europe’s diesel-engine market share may fall by half by 2025, potentially removing 300,000 to 600,000 ounces of platinum demand in the next decade, according to Citigroup Inc. The bank sees global surpluses in platinum stretching out to 2020, while the shortfall in palladium is set to widen to more than a million ounces next year before narrowing to 750,000 ounces by 2020.

“Despite the PGM spread inversion since the end of September, we remain favorable to palladium over the short term,” Citigroup analysts including Nell Agate said in a note dated Friday. “However, ever-looming substitution risks prevent an outright bullish view on palladium over the long term.”

Trading activity has also played a role in boosting palladium prices, Simona Gambarini at Capital Economics Ltd in London, said by email. “As such, prices look vulnerable to a correction,” she said.

Spot gold touched the highest intraday since 26 September, gaining as much as 0.2% to $1,306.11 an ounce before a host of US Federal Reserve speakers this week who may provide clues on the outlook for US monetary policy. Silver was little changed at $17.4155 an ounce.

Source: http://www.livemint.com/Money/a3TzHLW6hHkXjXMcMBoPgJ/Palladium-tops-1000-for-first-time-since-2001-on-auto-dema.html

Fundamental Research Re-Initiates Coverage on New Age Metals Inc. $NAM.ca with Largest Undeveloped Primary #PGM Deposit in Canada

Posted by AGORACOM-JC at 12:13 PM on Thursday, September 21st, 2017

New age large

  • Advancing its River Valley PGM project to a Preliminary Economic Assessment in 2018
  • Project has a measured and indicated resource of 91 Mt grading 0.84 g/t Pd + Pt + Au, 0.06% Cu, and 0.02% Ni, containing 3.9 Moz PdEq (palladium equivalent)
  • Currently pursuing a 16,500 ft drill program to confirm and expand the newly discovered high-grade near surface resource on the northern portion of the project
  • Palladium prices have almost doubled since the end of 2015
  • Also has a portfolio of five hard-rock lithium projects in Canada

Global platinum production was approximately 5.5 Moz, and global palladium production was approximately 6.6 Moz in 2016. To put in perspective, global gold production was 99.2 Moz in 2016. The following charts show the top platinum and palladium producers in the world. 


Canada is the fourth largest platinum (8% of global), and third largest palladium (11% of global) producer. The U.S. imports approximately 1.38 Moz of platinum (92% of its demand) and 1.92 Moz of palladium (86% of its demand) every year. The strong reliance on imports indicates the importance of PGM projects in North America. 

Canada is the fourth largest platinum (8% of global), and third largest palladium (11% of global) producer. The U.S. imports approximately 1.38 Moz of platinum (92% of its demand) and 1.92 Moz of palladium (86% of its demand) every year. The strong reliance on imports indicates the importance of PGM projects in North America. 


Palladium has been one of the best performing commodities in recent times as prices were up 96%, from US$500 per oz at the end of 2015, to the current price of US$980 per oz. 

READ ENTIRE REPORT

Drill Program Encounters 2.45 g/t Pd+Pt+Au Over 28 m at the River Valley #Platinum Group Metals #PGM Project, Sudbury #Mining District

Posted by AGORACOM-JC at 8:55 AM on Wednesday, September 20th, 2017

New age large

Highlights

  • A drill hole collared in main mineralized zone (Dana North) encountered 2.45 g/t Pd+Pt+Au over 28m, including 7.12 g/t over 3m and 4.06 g/t over 6m with a second zone of 3.30 g/t Pd+Pt+Au over 4m
  • Drilling continues to encounter PGM mineralization in the footwall of the River Valley PGM Deposit with assays of 1.56 g/t Pd+Pt+Au over 9m, 1.41 g/t over 8m, 1.12 g/t over 17 m and 1.64 m of 7m were obtained from drilling in the footwall
  •  

    Drilling has been focused on follow-up drilling to further test the continuation of the Pine Zone and Dana North Zone

  •  

    River Valley is the Largest Undeveloped Primary PGM resource in Canada, with 3.9Moz PdEq in Measured Plus Indicated including an additional 1.2Moz PdEq in Inferred.

September 20th, 2017 / Vancouver, Canada – New Age Metals Inc. (TSX.V: NAM; OTCQB: PAWEF; FSE: P7J.F) is pleased to announce the first drill hole results of the 2017 drilling campaign. Drilling has focused on the Dana North (T3) and Pine Zone as a follow up of the 2015 and 2016 drilling at the River Valley PGM Deposit.

Harry Barr, Chairman and CEO states, “Drill results (Table 1) have confirmed continued PGM mineralization in the footwall to the main River Valley contact, where the current measured and indicated resources have been proven. At present the PGM mineralization has been extended for approximately 140 metres east of the previous known mineralization into the footwall of the identified resources. PGM mineralization in the Pine Zone has now been shown to extend to at least 300 m below surface. With continued drilling success, other new targets could extend along the 16kms of strike and at depth that have not been previously explored.”

A ground geophysical survey was carried out on the Pine Zone by Abitibi Geophysics (News Release: June 19th, 2017). The surface IP geophysical survey was designed to test the eastward and southward extension and dip/plunge of the Pine Zone as well as the adjacent Dana North Zone (Figure 1-2). The extension of the IP survey tested the Banshee Zone. Initial interpretations are complete and the final report has been completed. Several new targets from the geophysics have been identified and are planned for drill testing. The Company has also retained the services of a geophysical consultant, Alan King of Geoscience North Ltd (News Release: Aug 22nd, 2017), to compile all past and current geophysics into one 3D model and aid in the understanding of the structural controls on the PGM mineralization.


Click Image To View Full Size

Figure 1: River Valley Geology Layered Over Recent IP Geophysics with Recent Area of Drilling

(Red Banded Unit represents the River Valley mineralized breccia contact zone-westward dip)


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Table 1 Drill Results from Dana North/Pine Zone

(3E = Pd+Pt+Au, N.S.A. = no significant assays)

Assay results have been received for six of the eleven presently drilled holes. Breccia host zones were indentified in all holes in the program with four drill holes (Table 1) returning significant Pd+Pt+Au (3E in the Table 1) mineralization to date. The drilling is mainly of an exploratory nature and intended to test the footwall mineralization in the northern portion of the property. Further re-interpretation of the geology, structure and PGM mineralization on the project are ongoing with the company’s geological and geophysical consultants.

Drill hole T3-17-04 was collared obliquely into the main PGM Zone and therefore the results are not true widths. Two high grade PGM zones were encountered from surface to 41 m. The drill hole was designed to test the footwall Pine Zone PGM mineralization to depth. PGM mineralization in the Pine Zone has now been shown to extend to at least 300 m below surface.

 


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Figure 2. Zoom in of the Pine Zone and Present Area of Drilling

Drill holes were drilled into the Pine Zone to test the PGM footwall mineralization. Drill widths are considered not true width due to the exploratory nature of the drill campaign.

Assay Procedures and QAQC

The drilling is being undertaken by Jacob & Samuel Drilling Ltd. of Sudbury, Ontario under the supervision of NAM geologists. The drill core samples are sent to the SGS Canada Inc. Laboratory in Lakefield, Ontario for sample preparation and assay analyses. The preparation involved crushing of 3 kilograms of each sample to 90% passing 2 mm, and then pulverizing 0.5 kilograms to 85% passing 75 um. Palladium, Platinum and Gold were assayed by fire assay with ICP-AES finish (GE-FAI313). Copper, Nickel and 32 additional metals were assayed by two acid digestion and ICP-OES finish (GE-ICP14B). Blanks and blind certified standard samples were submitted at regular intervals for assay with the core samples as part of NAM’s rigorous Quality Assurance/Quality Control program.

Future Activity

WSP Canada (News Release: Sept 7th, 2017) will be conducting the updated resource calculation and model for the River Valley PGM Deposit. This will incorporate any new drill results and interpretations.

This present exploration activity of drilling and geophysics is geared to establish the resource base for a Preliminary Economic Assessment (PEA) Report which the company plans to initialize in the near future.

To date (not including the present drill program) an approximate 612 holes (136,574 metres) have been conducted by the company and its past major joint venture partner to test the PGM mineralization extents along the contact of the River Valley Intrusion. As well, several 43-101 complaint resource estimates have been generated. The River Valley Deposit is the Largest Undeveloped Primary PGM resource in Canada, with 3.9Moz PdEq in Measured Plus Indicated including an additional 1.2Moz PdEq in Inferred.

The Company will continue to update investors as the drill results are received.

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 Northern Ontario (100 km east of Sudbury, Ontario). Presently the River Valley Project is Canada’s largest primary undeveloped PGM deposit with 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 PdEq for 2,463,000 ounces PGM plus Gold. This equates to 3,942,910 PdEq ounces. The River Valley PGM-Copper-Nickel Sulphide mineralized zones remain open to expansion. Currently the company has completed new ground geophysics and is in the middle of a drill program focused on the Pine and Dana North Zones.

In 2016, the Company acquired the River Valley extension property from Mustang Minerals which added approximately 4kms to the project’s mineralized strike length to the southern portion of the intrusion.

ABOUT NAM’S LITHIUM DIVISION

The Company has five pegmatite hosted Lithium Projects in the Winnipeg River Pegmatite Field, located in SE Manitoba. Three of the projects are drill ready. This Pegmatite Field hosts the world class Tanco Pegmatite that has been mined for Tantalum, Cesium and Spodumene (one of the primary Lithium ore minerals) in varying capacities, since 1969. 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.

QUALIFIED PERSON

The contents contained herein that relate to Exploration Results or Mineral Resources is based on information compiled, reviewed or prepared by Carey Galeschuk, a consulting geoscientist for New Age Metals. Mr. Galeschuk 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.

New Age Metals $NAM.ca Selects WSP Canada for the Updated River Valley #PGM Project Resource, Sudbury Mining District #Platinum #Palladium

Posted by AGORACOM-JC at 10:39 AM on Thursday, September 7th, 2017

New age large

  • Selected WSP Canada Inc as the consulting company heading up the new resource model for the River Valley PGM Project
  • New resource estimation work will be directed and supervised by Todd McCracken

September 7th, 2017 / Vancouver, Canada – New Age Metals Inc. (TSX.V:NAM; OTCQB: PAWEF; FSE:P7J.F). The Company is pleased to have selected WSP Canada Inc (Sudbury Office) as the consulting company heading up the new resource model for the River Valley PGM Project. The new resource estimation work will be directed and supervised by Todd McCracken.

WSP is one of the world’s leading engineering professional services consulting firms. WSP brings together 40,000 staff, based in more than 500 offices, across 43 countries to provide engineering and multidisciplinary services in a vast array of industry sectors, with a focus on technical excellence and client service. WSP has a comprehensive and skilled team that can determine the sustainability of investment opportunities and related assets for the Mining and Resource Industry. There experienced multidisciplinary team of professionals can determine the engineering, geology, mining, infrastructure, transportation, financial, and operational sustainability of the targeted asset. WSP has been providing engineering services to the mining
industry for over 20 years.

The last technical report on the River Valley Project was in 2012 which was also carried out by Todd McCracken (under Tetra Tech), thus ensuring technical continuity. Since that date, the company has carried out several drill programs, made a new PGM discovery on the project, carried out a ground IP geophysical survey (News Release: June 19th, 2017) and obtained the River Valley Extension (News Release: Oct 5th, 2016). The extension ground (Figure 1) adds approximately 4 kilometres of mineralized strike length to the River Valley PGM Project. It has approximately 100 drill holes carried out by the previous claim holder. The new resource estimate will incorporate all the data as well as the present drilling (News Release: July 18th, 2107).


Click Image To View Full Size

Figure 1: River Valley PGM Project – Mineralized Contact Breccia Zone (Red)

Todd McCracken, P.Geo, is a professional geologist with more than 25 years of experience in mineral exploration, mine operations and resource estimation. Presently he is Manager-Mining at WSP Canada. He is experienced in both underground operations and exploration. Todd’s commodities expertise includes PGE, nickel, gold, base metals, Li-rare earths and vanadium. He has worked for numerous Canadian and International clients. He is responsible for the Front-end Mining Group’s activities at WSP, which include project management, QA/QC programs, due diligence reviews, resource estimations, mine design, ventilation, rock mechanics, tailing facilities, preliminary economic analysis (PEA), as well as pre-feasibility and feasibility studies. His team at WSP will include other geologists and mining engineers.

This technical addition strengthens the existing geological and geophysical expertise already present in the Company.

The Company also announces that it has issued an aggregate of 132,587 common shares to Agora Internet Relations Corp. (“AGORACOM”). The securities issued represent the final payment for services under the terms of the agreement and are subject to a four month plus one day hold period expiring January 2, 2018.

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 Northern Ontario (100 km east of Sudbury, Ontario). Presently the River Valley Project is Canada’s largest primary undeveloped PGM deposit with 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 PdEq for 2,463,000 ounces PGM plus Gold. This equates to 3,942,910 PdEq ounces. The River Valley PGM-Copper-Nickel Sulphide mineralized zones remain open to expansion. Currently the company has completed new ground geophysics and is in the middle of a drill program focused on the Pine and Dana North Zones.

ABOUT NAM’S LITHIUM DIVISION

The Company has several hard rock Lithium Projects in the Winnipeg River Pegmatite Field, located in SE Manitoba. This Pegmatite Field hosts the world class Tanco Pegmatite that has been mined for Tantalum, Cesium and Spodumene (one of the primary Lithium ore minerals) in varying capacities, since 1969. 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.

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.

Invested in Transition Metals $XTM.ca ? Check Out New Age Metals $NAM.ca #PGM #Platinum #Palladium

Posted by AGORACOM-JC at 12:08 PM on Tuesday, August 29th, 2017

New age large

(NAM:TSXV)

Two Divisions: PGM and Lithium

  • PGM Division: focus on Development of the 100% owned River Valley PGM Project. Canada’s Largest Undeveloped Primary PGM Resource, with 2.5 Moz PGM, in Measured plus Indicated mineral resources.
  • Lithium Canada: with a focus on Exploration of Hard Rock Lithium, in Manitoba, Canada and Lithium Brine in Nevada. The company uses the Prospector Generator Model.

River Valley PGM Project

Largest Undeveloped Primary PGM Deposit in Canada

  • Midway through 16,500ft drill program
  • Abitibi Geophysics has completed the final IP geophysical report
  • Drilling has been focused on follow-up drilling to further test the continuation of the Pine Zone and Dana North Zone
  • Further drilling will test the geophysical targets from the IP Survey

Are you an investor in Wellgreen Platinum $WG.ca Check Out New Age Metals $NAM.ca #PGM #Platinum #Palladium

Posted by AGORACOM-JC at 5:15 PM on Tuesday, August 22nd, 2017

New age large

(NAM:TSXV)

River Valley PGM Project

Largest Undeveloped Primary PGM Deposit in Canada

  • Midway through 16,500ft drill program
  • Abitibi Geophysics has completed the final IP geophysical report
  • Drilling has been focused on follow-up drilling to further test the continuation of the Pine Zone and Dana North Zone
  • Further drilling will test the geophysical targets from the IP Survey

River Valley #PGM Project Canada’s Largest Undeveloped Primary PGM Resource, With 2.5 Moz PGM In Measured Plus Indicated Mineral Resources $NAM.ca

Posted by AGORACOM-JC at 5:18 PM on Thursday, August 3rd, 2017

New age large

(NAM:TSXV)

  • PGM Division: focus on Development of the 100% owned River Valley PGM Project. Canada’s Largest Undeveloped Primary PGM Resource, with 2.5 Moz PGM, in Measured plus Indicated mineral resources.

River Valley PGM Project

Largest Undeveloped Primary PGM Deposit in Canada

River Valley PGM Project is located 100 km east of Sudbury, Ontario

  • Sudbury hosts 1 of the Top 4 Nickel, Copper & PGM Mining & Processing Facilities in the World
  • Skilled Workforce, Established Mining Culture; Safe, Stable Pro-Mining Jurisdiction
  • Excellent Road Access to River Valley Property; Rail and Power Nearby
  • $30M Invested in Exploration, Large High-Confidence Resource, Favourable Metallurgy

New Age Metals Commences 15,000 ft Drill Program at River Valley – Largest Underveloped PGM Project in Canada $PGM.ca

Posted by AGORACOM-JC at 9:53 AM on Tuesday, July 18th, 2017

New age large

  • Abitibi Geophysics has completed the surface IP geophysical program and borehole geophysics
  • Drilling will focus on follow-up drilling to further test the continuation of the Pine Zone
  • Further drilling will drill test the geophysical interpretation of Abitibi Geophysics
  • 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 mineralization covering over 16kms of strike

Vancouver, Canada / July 18, 2017 – New Age Metals Inc. (TSX.V: NAM; OTCQB: PAWEF; FSE: P7J.F) is pleased to announce that the 2017 Drill Program has commenced on the Pine Zone at the River Valley PGM Project approximately 100km’s from Sudbury, Ontario. The Induced Polarization (IP) geophysical survey and borehole geophysics has been completed by Abitibi Geophysics and a final report will be generated. The Company will focus the exploration on drill testing the previous PGM mineralization in the Pine Zone and the recommendations from the geophysical interpretation report.

The Pine Zone is one of numerous prospective PGM zones (Figure 1) within the district-scale River Valley PGM Project and was recently drilled in the fall of 2016 (press release December 13, 2016). The 2016 drill program confirmed the higher-grade, near-surface PGM discovery made in the 2015 drill program (press release March 11, 2015) and highlighted the continuity of the mineralization for 200 metres along strike and 100-200 metres depth at the Pine Zone. The Pine Zone remains open along strike and at depth.

The surface geophysical survey was designed to test the eastward and southward extension of the Pine Zone as well as the adjacent Dana North Zone (Figure 2). The extension of the IP survey is designed to test the depth potential of the Banshee Zone. The survey will aid in the generation of new targets for follow up drill testing. The diamond drill crew is currently onsite and will begin drilling to test the on strike and depth extensions of the Pine Zone as a continuation of the 2016 drilling (press release December 13, 2016).Approximately 15,000ft of drilling is planned in this program.

Abitibi Geophysics will generate a final report and interpretation of the IP Geophysical Survey. This report will recommend additional drill targets. These targets will be on the Pine and Banshee Zones. 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 underexplored Pardo Zone to the northwest (Figure 2).


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

This present exploration activity of drilling and geophysics is geared to establish the resource base for a Preliminary Economic Assessment (PEA) Report which the company plans to initialize in the near future.

 


Click Image To View Full Size

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.

To date an approximate 612 holes (136,574 metres) have been conducted by the company and its past joint venture partners to test the PGM mineralization extents of the River Valley Intrusion. As well, several 43-101 complaint resource estimates have been generated. The River Valley Deposit is the Largest Undeveloped Primary PGM resource in Canada, with 2.5M oz PGM, in Measured Plus Indicated mineral resources and near-surface mineralization covering over 16kms of continuous strike length.

The Company will continue to update investors as the drill results are received.

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 Northern Ontario (100 km east of Sudbury, Ontario). Presently the River Valley Project is Canada’s largest primary undeveloped PGM deposit with 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 geophysics currently completed and drilling to commence mid July 2017 as part of our ongoing continued exploration.

In 2016, the Company acquired the River Valley extension property from Mustang Minerals which added approximately 4kms to the project’s mineralized strike length.

ABOUT NAM’S LITHIUM DIVISION

The Company has several Hard Rock Lithium Projects in the Winnipeg River Pegmatite Field, located in SE Manitoba. This Pegmatite Field hosts the world class 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.

QUALIFIED PERSON

The contents contained herein that relate to Exploration Results or Mineral Resources is based on information compiled, reviewed or prepared by Carey Galeschuk, a consulting geoscientist for New Age Metals. Mr. Galeschuk 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.

INTERVIEW: Harry Barr Discusses Canada’s Largest Primary PGM Deposit + Lithium Initiatives $NAM.ca

Posted by AGORACOM-JC at 12:45 PM on Friday, June 23rd, 2017