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New Age Metals Initiates PLATSOL (TM) Testwork at the River Valley Palladium Project, Ontario

Posted by Nicole Rojas at 12:00 PM on Tuesday, September 26th, 2023

New Age Metals Advances High-Value Palladium Project in Ontario with PLATSOL™ Testwork

New Age Metals Inc. (NAM), a dynamic mineral exploration and development company, has taken a significant step towards optimizing the potential of its River Valley Palladium Project in Ontario. The company announced the commencement of PLATSOL™ leaching testwork, a high-temperature and pressure acid leaching hydrometallurgical process developed by SGS Canada Inc., on concentrates from the Dana and Lismer mineralized zones. This pivotal move follows the findings of the New Preliminary Economic Assessment (PEA), disclosed in August 2023, which demonstrated the River Valley Project’s impressive potential.

The PLATSOL™ testwork aims to enhance the recovery of platinum group metals (PGM), gold, and copper from the project. Previous PLATSOL™ studies have yielded Pd, Pt, Au, and Cu recoveries exceeding 90% in various locations, and New Age Metals is eager to explore this opportunity to significantly increase the value of its product.

D.E.N.M. Engineering Ltd., based in Burlington, Ontario, will oversee the PLATSOL™ study, expected to conclude by the end of Q4 2023. Results will be closely monitored, with the potential for a comprehensive follow-up study in 2024.

The River Valley Palladium Project, strategically located near Sudbury, Ontario, is well-connected to essential infrastructure, enjoys local community support, and has secured agreements with First Nation groups. The recently unveiled PEA outlines a 16-year operation producing an average of 47,400 ounces of Pd annually. With favorable metal prices factored in, the PEA demonstrates a pre-tax NPV(5%) of US$296 million and a pre-tax IRR of 16%, offering compelling prospects for investors.

New Age Metals’ focus extends beyond palladium, as the company also explores green metal projects in North America, including lithium and rare elements. Their strategic partnerships and commitment to project generation underscore their dedication to sustainable mineral exploration and development.

As New Age Metals embarks on this innovative PLATSOL™ testwork program, the industry watches with anticipation, as it could potentially unlock new levels of value and sustainability in the mining sector.

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