Posted by AGORACOM
at 8:10 AM on Thursday, October 1st, 2020
TORONTO, Oct. 01, 2020 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce the appointment of Matthieu (Matt) Lapointe as VP Exploration effective immediately.
Mr. Lapointe, P.Geo. has over 15 years of greenfield and brownfield precious metal exploration throughout Canada and internationally. Most recently Mr. Lapointe was Chief Geologist for TMAC Resources where he developed exploration strategy and managed regional exploration of the 1,600 km2 Hope Bay Project in Nunavut including brownfield targeting at the active Doris gold mine and two advanced stage gold deposits.
“I am very pleased to welcome Matt to the LabGold technical team,” said Roger Moss, President and CEO of the Company. “He is a seasoned explorationist well versed in evaluating large land packages and advancing projects from grassroots to production stages. I expect him to have an immediate impact on our exploration program at Kingsway, especially as we gear up for our fall drilling campaign.”
Matt Lapointe commented, “I am pleased to join the LabGold team as the company begins the next phases of exploration. LabGold has assembled an impressive property portfolio and have been systematically exploring highly prospective areas. The progress and results to date are encouraging and I look forward to continue advancing these exciting projects.”
Roger Moss, PhD., P.Geo., is the qualified person responsible for all technical information in this release.
About Labrador Gold Labrador Gold is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada.
In early March 2020, Labrador Gold acquired the option to earn a 100% interest in the Kingsway project in the Gander area of Newfoundland. The property is along strike to the northeast of New Found Gold’s discovery of 92.86 g/t Au over 19.0 metres on their Queensway property. (Note that mineralization hosted on adjacent or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property). In early July 2020, the Company signed an option agreement to acquire a third license to add to the property package which now covers approximately 77 km2. The three licenses comprising the Kingsway project cover approximately 16km of the Appleton fault zone which is associated with gold occurrences in the region, including the New Found Gold discovery. Historical work over the area covered by the Kingsway licenses shows evidence of gold in till, vegetation, soil, stream sediments, lake sediments and float. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water.
The Hopedale property covers much of the Hunt River and Florence Lake greenstone belts that stretch over 80 km. The belts are typical of greenstone belts around the world but have been underexplored by comparison. Initial work by Labrador Gold during 2017 show gold anomalies in soils and lake sediments over a 3 kilometre section of the northern portion of the Florence Lake greenstone belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 kilometres along the southern section of the greenstone belt (see news release dated January 25th 2018 for more details). Labrador Gold now controls approximately 57km strike length of the Florence Lake Greenstone Belt.
The Ashuanipi gold project is located just 35 km from the historical iron ore mining community of Schefferville, which is linked by rail to the port of Sept Iles, Quebec in the south. The claim blocks cover large lake sediment gold anomalies that, with the exception of local prospecting, have not seen a systematic modern day exploration program. Results of the 2017 reconnaissance exploration program following up the lake sediment anomalies show gold anomalies in soils and lake sediments over a 15 kilometre long by 2 to 6 kilometre wide north-south trend and over a 14 kilometre long by 2 to 4 kilometre wide east-west trend. The anomalies appear to be broadly associated with magnetic highs and do not show any correlation with specific rock types on a regional scale (see news release dated January 18th 2018). This suggests a possible structural control on the localization of the gold anomalies. Historical work 30 km north on the Quebec side led to gold intersections of up to 2.23 grams per tonne (g/t) Au over 19.55 metres (not true width) (Source: IOS Services Geoscientifiques, 2012, Exploration and geological reconnaissance work in the Goodwood River Area, Sheffor Project, Summer Field Season 2011). Gold in both areas appears to be associated with similar rock types.
The Company has 93,294,175 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB.
Posted by AGORACOM-JC
at 5:24 PM on Wednesday, September 30th, 2020
HPQ Silicon Resources (HPQ:TSXV) is a Canadian producer of Silicon that is building a line of specialty silicon products needed for electric batteries.
More than just lip service, HPQ has already announced NDA’s with 2 undisclosed companies in the space and has hinted at other NDA’s that are so tight they could not even be announced.
5 YEARS ON THE SILICON ROAD LESS TRAVELED
Over the past 5 years, HPQ has teamed up with 2 world renowned technology partners to manufacture high purity silicon cleaner, cheaper and better than anyone in the world – because you can’t dig it out of the ground like other battery metals such as graphite, cobalt and nickel. Now HPQ is on the verge of sending samples of its industry leading silicon to NDA and other potential partners as early as December.
However, despite providing shareholders with a great return during this period, HPQ’s silicon strategy was still met by scepticism amongst investors who found it easier to understand traditional battery metal stories.
TESLA CHANGED EVERYTHING OVERNIGHT
This all changed 7 days ago on September 23rd 2020, when this headline emerged from Tesla’s “Battery Day”
“Tesla To Revolutionize Use Of Silicon In Batteries: Slash Costs, Increases Range”
With the specific references to Silicon + Cheaper Cost + Longer Range, you would have thought HPQ wrote this headline themselves given the fact this is EXACTLY what they have been telling the world for the last 5 years. Now, thanks to this headline, HPQ Silicon no longer has to convince everybody that Silicon is the holy grail of batteries …. Elon Musk and Tesla have done it for them in one fell swoop.
7 DAYS LATER, A GLOBAL AUTO MANUFACTURER COMES KNOCKING TO SECURE FIRST POSITION
This quote from CEO Bernard Tourillon says it all:
“To have piqued the interest of a major industrial player so early on, and to the point where they will pay for product before production just to secure a position, speaks volumes about where we are and what we are doing”
And this one from technology partner PyroGenesis Canada drives the point home:
“To receive this type of validation mere weeks after signing a Development Agreement with HPQ Silicon , and mere days after a major Battery Conference, which highlighted the importance of such products, is astounding. We are excited to see HPQ NANO effectively taking pre-orders from giants in the industry who, based on our experience, are not in the habit of wasting their time”
If you are serious about battery metals and electric vehicles entering a paradigm shifting parabolic stage in the next 5 years, then you owe it to yourself to watch this interview with CEO Bernard Tourillon.
Posted by AGORACOM
at 3:17 PM on Wednesday, September 30th, 2020
Montreal, Quebec–(Newsfile Corp. – September 30, 2020) – Beauce Gold Fields (Champs D’Or en Beauce) (TSXV: BGF),(“BGF”), is pleased to announce that the Company has paid in full the principal and interest on a mortgage for 176 acres of real estate and bought back a 1.5% Net Smelter Royalty (NSR) held over the historical placer gold deposit in the municipality of Saint-Simon-les-Mines in the Beauce region of Quebec.
Patrick Levasseur, President and CEO of Beauce Gold Fields said, “The reimbursement of the mortgage represents a significant savings to shareholders. Moreover, with respect to the NSR, our predecessor company (Uragold) was granted certificates of authorization in 2013 for trial mining a section of the placer gold channel. In the event of a potential mining operation, the NSR we purchased will represent another significant saving as well.”
Reference to the historical placer gold deposit does not comply with the CIM reporting standards National Instrument 43-101 for mineral resources or reserves and should not be relied upon. While the Company considers historical estimates and the calculated Gold Exploration Target* for the entire historical placer channel to be relevant to investors as it may indicate the presence of mineralization, the Company is not treating these historical estimates as a current mineral resource.
During December 2018, the Company signed a real estate mortgage of $180,000, secured by the land with a net carrying amount of $204,346, bearing interest at compound rate of 18 % annually. On September 4, 2020, the Company reimbursed principal and interest.
The Company also had assumed the payment to a third party of a royalty of 1.5% of which, at the option of the company, 1% was redeemable for an amount of $1,000,000. The 1.5% royalty will be redeemed by the Company from the holder thereof by means of the issuance of 700,000 common shares of its capital stock representing the redemption price of $108,500. This transaction is subject to the TSX Venture Exchange approval
Modification To Stock Option Plan
Beauce Gold Fields Inc. announces that its Board of Directors has approved the modification of the total number of shares that may be issued pursuant to its stock option plan, increasing it by 1,480,000 shares from 1,900,000 shares to 3,380,000 shares and, as a result, the consolidation of its current stock options plan into the new 2020 stock options plan. The maximum number of common of shares that may be issued under the plan shall be equivalent to less than 10% of the issued and outstanding common shares of the Corporation. The modification is subject to regulatory approval and TSX Venture Exchange approval.
About Beauce Gold Fields
Beauce Gold Fields is a gold exploration company focused on placer to hard rock exploration in the Beauce region of Southern Quebec. The Company’s flagship property is the St-Simon-les-Mines Gold project site of Canada’s first gold rush that pre-dates the Yukon Klondike. The Beauce region hosted some of the largest historical placer gold mines in Eastern North America that were active from 1860s to the 1960s. It produced the largest gold nuggets in Canadian mining history (50oz to 71oz).
Comprising 152 contiguous claims and 7 real estate lots, the project area contains a six kilometer long placer channel consisting of an unconsolidated gold-bearing auriferous units of a lower saprolite and an upper brown diamictite. The Company has calculated a Gold Exploration Target for the entire historical placer channel ranges between 61,000 ounces (2,200,000 m3 @ 0.87g Au/m3) and 366,000 ounces* (2,200,000 m3 @ 5.22 g Au/m3).
*Source: Beauce July 4th 2018[43-101 Report.
The Company has identified a major Fault Line that coincides with an interpreted fault structure across the property. Evidence suggests the erosion of the Fault Line as a probable source of the historical placer gold channel.
Posted by AGORACOM
at 3:12 PM on Wednesday, September 30th, 2020
Lomiko Metals (LMR: TSXV) has discovered high-grade graphite at its La Loutre property in Quebec and is working toward a Pre-Economic Assessment to increase the current resource to 10m/t of 10% Cg (graphite) in order to supply the future demand needs of a burgeoning metals battery market.
LOMIKO METALS Paul A. Gill:
“Initial indications are that La Loutre Graphite Property is high-quality and high-grade and thus worthy of development.” stated A. Paul Gill, CEO. “The only operating graphite mine in North America which is the Imerys Graphite & Carbon at Lac-des-Îles, is 30 miles northwest of La Loutre and has operated for 30 years.
Lomiko is in an ideal position to participate in the Electrical Vehicle market with the potential to become a North American supplier of graphite materials for the emerging battery EV battery market. Here is why:
WoodMac – Graphite…..forecasts that the battery sector would make up more than 35% of demand by 2030, with demand growing by 1.6 million tonnes by that date.
Simon Moores – “There is no doubt now that regardless of how well Tesla’s vehicles continue to sell, raw material availability will be the primary slowing factor on the company scaling.”
Wood Mackenzie highlight the demand impact battery production will have on the raw materials required. ” When it comes to graphite, the report forecasts that the battery sector would make up more than 35% of demand by 2030, with demand growing by 1.6 million tonnes by that date.
2 Reasons Why Battery Demand is Key to Lomiko’s Growth
2019 to 2030 demand increase forecast for EV metals as the EV boom takes off – ‘Battery’ graphite demand forecast to grow 10x.
Posted by AGORACOM-JC
at 12:00 PM on Wednesday, September 30th, 2020
https://youtu.be/EjuLlQLffp8
ImagineAR CEO Alen Paul Silverrstieen and Valencia Chief Digital Innovation Officer Franco Segarra joined Steve Darling from Proactive to bring news the company has signed a two-year partnership agreement with Valencia FC, one of the biggest soccer clubs in the world and the winner of six La Liga titles.
Silverrstieen discusses just how huge this deal is for the company giving them access to such a large audience, while Segarra discusses the need to keep fans engaged during the pandemic.
Posted by AGORACOM
at 8:47 AM on Wednesday, September 30th, 2020
Scarlette Lillie Science and Innovation has secured a relationship with Jinfiniti Precision Medicine
Exploring the potential roles that psilocybin and truffles can play for age-related and psychiatric disorders
Toronto, Ontario–(Newsfile Corp. – September 30, 2020) – Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTC: TRUFF) (“Red Light Holland” or the “Company“), an Ontario-based corporation positioning itself to engage in the production, growth and sale of its brand of magic truffles to the legal, recreational market within the Netherlands, is pleased to announce that its science division, Scarlette Lillie Science and Innovation (“Scarlette Lillie“), has secured a relationship with Jinfiniti Precision Medicine (“Jinfiniti“) in order to explore the potential roles that psilocybin and truffles can play for age-related and psychiatric disorders. Jinfiniti has created a world class “AgingSOS” test panel that can detect key factors from blood that drive aging and other genetic instabilities. The speed and affordability of this test can allow for both company’s Scientists to clearly evaluate the potential for psilocybin treatments that go beyond what is currently being explored. The CEO of Jinfiniti is Dr. Jin-Xiong She, a professor at Augusta University in Georgia, USA, whose expertise is in the creation of biomarker panels. Jinfiniti’s state of the art panel is making it possible to extend the applicability of psilocybin.
“We are pleased to work with Scarlette Lillie, and we are excited to add this special dimension to their clinical study explorations as they emerge,” says Dr. She, CEO of Jinfiniti.
“The idea that psilocybin and truffles have deep physiological and medicinal effects that go beyond psychiatric applications is not new, but as a scientist, Scarlette Lillie is allowing me to truly explore whole new markets, with a rigorous biomarker panel. Additionally, this work has the potential to help us understand if there are unknown mechanisms at play for neurological and psychiatric disorders,” says Dr. Joseph Geraci, CEO of NetraMark Corp. and a scientific advisor to Red Light Holland. Dr. Geraci is helping to establish several clinical programs. He brings a deep knowledge of systems biology, medical science, and artificial intelligence to the team.
This relationship with Jinfiniti will allow Scarlette Lillie to add a novel component to expected clinical studies for psilocybin and truffles. The knowledge that comes from this has the potential to not only influence the outcome of clinical studies but can also potentially lead to novel treatments for several disorders.
“When you see brilliant Scientists like Dr. Joseph Geraci and Dr. Jin-Xiong She, a professor at Augusta University, show this much excitement, it gets me really excited!” Added Todd Shapiro, CEO and Director of Red Light Holland. “I’ve always made it very clear that as a company we take Science and Innovation very seriously. This is just another example of Scarlette Lillie moving forward intelligently with world class experts to hopefully help be a part of positive change.”
About Jinfiniti Precision Medicine
Jinfiniti is a precision medicine company that aims to increase the human healthspan. Using measures of key blood biomarkers, Jinfiniti is able to provide a detailed overview of individual aging health. Composed of researchers who met at the Medical College of Georgia, the Jinfiniti team is dedicated to the prevention of chronic disease and the promotion of longevity. Their novel approach to anti-aging practices involves conducting lab tests to measure aging biomarkers within the blood. This information then helps to guide individual lifestyle adjustments, leading to improved health and quality of life.
Jin-Xiong She, Ph.D., Professor at Augusta University Founder & CEO Jinfiniti Precision Medicine, Inc. 1120 15th Street, Augusta, GA 30912
About Red Light Holland Corp.
RLH is an Ontario-based corporation positioning itself to engage in the production, growth and sale of its brand of magic truffles to the legal, recreational market within the Netherlands, in accordance with the highest standards, in compliance with all applicable laws. The Company’s brand of magic truffles are expected to be sold in the Netherlands through existing Smart Shops as well as its e-commerce platform, and are expected to be initially made available in the form of its previously announced Microdosing Packs.
For additional information on the Company:
Todd Shapiro Chief Executive Officer and Director Tel: 647-204-7129
Posted by AGORACOM-JC
at 6:46 AM on Wednesday, September 30th, 2020
Announced the signing of a two year partnership agreement with Valencia C.F., one of the biggest soccer clubs in the world and the winner of six La Liga titles, to provide its Augmented Reality Platform for fan activation and engagement
This historic agreement makes Valencia C.F. the first La Liga team to incorporate Augmented Reality for fan activation and engagement
Company believes there is a significant opportunity to expand its offering to further clubs in an effort to reach over 1.3 billion collective followers of La Liga players, 480 million collective followers of La Liga clubs and 82 million followers of La Liga itself across Twitter, Facebook, and Instagram channels.
VANCOUVER , BC and ERIE, Pa. , Sept. 30, 2020 – Imagine AR Inc. (CSE: IP) (OTCQB: IPNFF) (“ImagineAR” or “Company”) an Augmented Reality Company that enables sports teams, businesses and enterprises to instantly create their own AR mobile campaigns, is pleased to announce the signing of a two year partnership agreement with Valencia C.F., one of the biggest soccer clubs in the world and the winner of six La Liga titles, to provide its Augmented Reality Platform for fan activation and engagement. This historic agreement makes Valencia C.F. the first La Liga team to incorporate Augmented Reality for fan activation and engagement.
VALENCIA CLUB DE FUTBOL – WORLD RENOWNED CHAMPION FOR 101 YEARS
Valencia C.F., founded in 1919, is a Spanish professional football club which is one of the most supported football clubs in Spain and one of the biggest clubs in the world in terms of number of associates, including close to 7 million fans on social networks and across five continents.
They play in La Liga, the top professional football division in Spain and have played in the top league in Europe in 3 of the past 6 editions.
Valencia C.F. President Anil Murthy stated “With this unique season being played so far behind closed doors and without our fans, ImagineAR will allow us to keep our personal connection to them as strong as ever, thanks to their amazing mobile augmented reality. The resulting immersive experiences will create fun, energy and excitement that can be shared with other fans on all social media platforms. We are happy to be the first La Liga team to integrate ImagineAR into our digital communications platform.
Valencia C.F. Chief Digital Innovation Officer Franco Segarra stated “Over the last three years, Valencia C.F. has been working extensively on digital innovation in order to get closer to our fans and introduce unique experiences to the world of football. The recent launch of our ‘VCF Innovation Hub” demonstrates our commitment to adapting the newest and best of breed technologies to make our club stronger. We are excited to bring ImagineAR into our Hub as our Augmented Reality partner over the next 2 years and I look forward to delivering incredible fan engagement with them.”
VALENCIA C.F. GLOBAL REACH WILL CREATE INTERNATIONAL SOCCER VISIBILITY AND OPPORTUNITIES FOR IMAGINEAR
As part of the Agreement, ImagineAR will provide Valencia C.F. with with the IOS and Android SDK that fully integrates into their Mobile app. The ImagineAR SDK will provide Valencia with a back-office reporting tool for the club to generate valuable marketing intelligence and insights.
In addition to financial benefits of the Agreement, ImagineAR will receive significant exposure via the promotion and branding of of ImagineAR as follows:
Becoming an “Innovation Partner of Valencia C.F.” and member of the “VCF Innovation Hub”.
Our brand will be included in all official Valencia C.F communications in the “Innovation Partner” category.
Branding on U-Television system (LED system) for all LaLiga and Copa S.M. el Rey matches played in Valencia C.F’s Mestalla Stadium.
Branding in the internal TV broadcasts of Mestalla TV, at Mestalla Stadium, during each match of the National League Championships and S.M. del Rey Cup, as well as, friendly matches and institutional acts celebrated in the Mestalla Stadium, excluding finals, throughout the soccer season.
Branding on the official website of the club in the section dedicated to the “VCF Innovation Hub”
Branding within the social networks, newsletters and videos of the “VCF Innovation Hub”
One ImagineAR event in the facilities of the VIP Box at Mestalla Stadium.
Given the fact Valencia C.F is one of the most supported football clubs in Spain and one of the biggest clubs in the world in terms of number of associates, including close to 7 million fans around the world, the Company expects to enjoy an incredible level of visibility and success within the Valencia C.F Mobile app and social media properties, creating a high level of recognition from fans and teams across La Liga and all major soccer leagues around the world.
As the first La Liga club to partner with ImagineAR, the Company believes there is a significant opportunity to expand its offering to further clubs in an effort to reach over 1.3 billion collective followers of La Liga players, 480 million collective followers of La Liga clubs and 82 million followers of La Liga itself across Twitter, Facebook, and Instagram channels.
Alen Paul Silverrstieen, CEO of ImagineAR, stated “We are truly honored to be working with the legendary Valencia Club de Fútbol by delivering unmatched AR experiences to their massive global fan base. Their VCF Innovation HUB positions Valencia C.F as an international technology hub and we are very proud to be part of this great initiative by playing a critical role in connecting their players and fans in a historic period of time that forces them to be apart. The connections and immersive experiences made through the ImagineAR platform will be groundbreaking, making us very optimistic that this partnership will grow enormously in the next two years.”
Silverrstieen added “With respect to our Company, this is a major milestone that cannot be overstated. Valencia C.F is not only our first LaLiga partner, they are also our first professional sports team partner outside of the United States and opens the door to further global expansion at the highest level of sports. Our shareholders can take great pride in this achievement.”
This News Release is available on the company’s CEO Verified Discussion Forum , a moderated social media platform that enables civilized discussion and Q&A between Management and Shareholders.
About ImagineAR
Imagine AR Inc. (CSE: IP) (OTC: IPNFF) has developed ImagineAR.com; an “AR-as-a-Service” platform for desktops that enables businesses of any size to create and implement their own AR campaigns with no programming or technology experience. Every organization, from professional sports franchises to small retailers, can develop interactive AR campaigns that blend the real and digital worlds using ImagineAR. Customers simply point their mobile device at logos, signs, buildings, products, landmarks and more to instantly engage with videos, information, advertisements, coupons, 3D holograms and any interactive content, all hosted in the cloud and managed using a menu-driven portal. Integrated real-time analytics means that all customer interaction is tracked and measured in real-time. The ImagineAR.com mobile app is available in the IOS and Android mobile app stores. The platform is available as a native mode SDK.
All trademarks of the property of respective owners. ON BEHALF OF THE BOARD Alen Paul Silverrstieen President & CEO (818) 850-2490
We encourage you to do your own due diligence and ask your broker if Imagine AR Inc. (cse: IP) is suitable for your particular investment portfolio*. The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release. This press release may include ‘forward-looking information’ within the meaning of Canadian securities legislation, concerning the business of the Company. The forward looking information is based on certain key expectations and assumptions made by Imagine AR’s management. Although Imagine AR believes that the expectations and assumptions on which such forward- looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Imagine AR can give no assurance that it will prove to be correct. These forward-looking statements are made as of the date of this press release, and Imagine AR disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
Posted by AGORACOM-JC
at 4:23 PM on Tuesday, September 29th, 2020
(KWE:TSXV)
WHY KWESST? HERE’S SOME GREAT REASONS
1. KWESST is a leader in defensive technologies that increase the capabilities of soldiers, including those of NATO and its allies.
2. These technologies make a critical difference to soldier safety and effectiveness.
3. The Leadership team experience spans decades and hundreds of millions of dollars in military and homeland security contracts.
4. KWESST develops next-generation systems for forces around the world, with a particular focus on special forces among NATO countries and their allies.
5. KWESST partners with globally recognized equipment manufacturers to integrate its systems into their solutions to create high value-add products for global customers.
6. KWESST provides small cap investors with a rare opportunity to invest in a high-growth, technology driven, global defence company with:
Tier-1 Customers
Global Customers
Proprietary Technologies
Diversified Product
Globally Renowned Executive Team With Massive Successful Track Records
FULL DISCLOSURE: Kwesst Micro Systems Inc. is an advertising client of AGORA Internet Relations Corp.
Posted by AGORACOM-JC
at 8:33 AM on Tuesday, September 29th, 2020
Announced its Q4 2020 program for the River Valley Palladium Project near Sudbury, Ontario
Primary focus of the program is a Phase 1 of a multi-phase rhodium assay program designed to prove-up the world’s most valuable metal as a payable component of River Valley.
Chairman & CEO Harry Barr stated; “We have seen the price of rhodium run from $6,050 an ounce to a high of $13,800 this year and the company plans to investigate the potential economic metal credit that rhodium offers at River Valley
We know the project contains rhodium as evidenced by its presence in our latest Mineral Resource Estimate.
However, rhodium was not included as a payable metal in our 2019 Preliminary Economic Assessment (PEA), due to insufficient number of assays and limited metallurgical recovery information.”
The highest-grade rhodium assay is 0.873 g/t Rh for drill core from the Lismer North Ridge Zone
This potential metal credit may be significant at current pricing and our objective is to complete sufficient re-assaying and metallurgy to prove that rhodium could provide up to 5% of the Project’s payable metal package”.
September 29, 2020 – Rockport, Canada – New Age Metals Inc. (NAM) (TSXV:NAM);(OTC:NMTLF);(FSE:P7J) (“NAM” or the “Company”) NAM is pleased to announce its Q4 2020 program for the River Valley Palladium Project near Sudbury, Ontario. The primary focus of the program is a Phase 1 of a multi-phase rhodium assay program designed to prove-up the world’s most valuable metal as a payable component of River Valley. Chairman & CEO Harry Barr stated; “We have seen the price of rhodium run from $6,050 an ounce to a high of $13,800 this year and the company plans to investigate the potential economic metal credit that rhodium offers at River Valley. We know the project contains rhodium as evidenced by its presence in our latest Mineral Resource Estimate. However, rhodium was not included as a payable metal in our 2019 Preliminary Economic Assessment (PEA), due to insufficient number of assays and limited metallurgical recovery information. The Mineral Resource Estimation work completed to date shows over 25,000 ounces of rhodium in the Measured plus Indicated resource classification and an additional 20,000 ounces in the Inferred classification. The highest-grade rhodium assay is 0.873 g/t Rh for drill core from the Lismer North Ridge Zone . The first phase of the rhodium work will focus on the northern area of the Project, where initial production would potentially begin as determined in the 2019 PEA Study. This potential metal credit may be significant at current pricing and our objective is to complete sufficient re-assaying and metallurgy to prove that rhodium could provide up to 5% of the Project’s payable metal package”.
Rhodium Market
Rhodium (Rh), one of the six Platinum Group Metals, is a silver-white metallic element that is highly reflective and strongly resistant to corrosion. Rh’s primary use is in catalytic converters of automobiles, where it reduces the amount of nitrogen oxides (NOx) exhaust gases emitted into the atmosphere. In 2019, almost 90% of rhodium demand was from the auto-catalyst sector . Rh is a very special metal in terms of its performance in converting NOx into harmless gases, and will continue to be the metal of choice for the control of NOx .
Mined supply of Rh in 2019 was over 750,000oz and recycled supply was 315,000oz, resulting in a deficit of approximately 50,000oz. Rh supply is inelastic to demand for various reasons: Rh content in the earth’s crust is extremely rare, and the metal is mined as a by-product of platinum and palladium mining or nickel mining. There is no such thing as a primary Rh mine, and the major producers are all located in South Africa . South Africa produces over 85% of the global Rh supply annually, with majority of this supply being generated by the mining companies listed below (Rh production listed as a percentage of overall mining production):
Rhodium (Rh), the world’s most valuable metal (US$ 12,000/oz as of September 28, 2020), is present with palladium and platinum at the River Valley Deposit (Figure 1). However, the amount of existing Rh assays is relatively small and their spatial distribution limited, due to the high cost of assaying. The highest-grade rhodium assay is 0.873 g/t Rh for a core sample from the Lismer North Zone . Rhodium is included in the 2001, 2012, 2018 and 2019 Mineral Resource Estimates. Rhodium grades in the 2019 Mineral Resource Estimate (Table 1) are based on Rh assay data for 7,471 drill core samples and 2,641 channel samples, for a total of 10,112 assays. Of these, 8,268 core and channel sample Rh assays records are for the Dana North Zone, 1,338 core and channel sample Rh assay records for the Dana South Zone, and 506 core sample assays for the Lismer Zones: there are no Rh assays available in the database for the Pardo, Pine, Banshee, Lismer Ridge, Varley, Azen, and Razor zones . Clearly, the Rh assay data distribution is highly concentrated at Dana North. Furthermore, the rhodium mineral hollingworthite (Rh, Pt, Pd) AsS has been identified during mineralogical and metallurgical testwork studies of drill core from Dana North and Dana South. Although included in the 2019 Mineral Resource Estimate for the River Valley Palladium deposit, Rh was excluded in the 2019 Preliminary Economic Assessment as payable metal in the Net Smelter Return estimates.
In addition, a relatively small amount of additional Rh assay data (337 analyses) are available for core samples analyzed during an academic research project and for surface grab samples (158) assayed during exploration programs. The highest grades were 0.372 g/t Rh for the core and 0.309 g/t Rh for the surface grab samples. However, these data cannot be used directly for Mineral Resource Estimation purposes.
The Rhodium Assay Program for Q4 2020 is to be based on re-assaying available drill core samples for Rh. The drill holes to be sampled will be carefully selected from representative drill cross-sections of priority zones, primarily Pine Zone and possibly Dana South and Lismer North. Samples from mineralized core intervals above the lower cut-off grade and adjacent material are to be submitted to an appropriate laboratory for PGM assay with enhanced detection limits. In addition to Rh (and palladium platinum and gold), the minor PGM ruthenium (Ru) and iridium (Ir) will also be assayed. The Q4 2020 work will be Phase 1 of a multi-phase program . Pending results and progress, the follow-up phases of work will include more sampling and assaying and mineralogical and metallurgical testwork, in order to ultimately prove-up rhodium as a payable metal for the River Valley Project.
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Figure 1. The mineralized zones and current pit constrained Mineral Resource Estimates of the River Valley Palladium Deposit near Sudbury, Ontario. Source: NAM press release dated August 8, 2019.
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Additional Activities for Q4 2020
Additional activities planned for Q4 regarding River Valley include environmental baseline studies, archaeological assessments, and development of new exploration targets for field validation and testing in 2021. The environmental baseline studies will involve a second round of surface water quality sampling and flow measurement. Exploration targeting will continue to focus on footwall mineralization, though at the Dana South Zone in addition to the Pine Zone-T3 target. The interior of the River Valley Intrusion will also be re-evaluated for the possibility of MT and gravity surveys to aid development of targeting models for contact-type PGM deposits.
About NAM
New Age Metals is a junior mineral exploration and development company focused on the discovery, exploration and development of green metal projects in North America. The Company has two divisions; a Platinum Group Metals division and a Lithium/Rare Element division. The PGM division includes the 100% owned River Valley Project, one of North America’s largest undeveloped Platinum Group Metals Projects, situated 100 km from Sudbury, Ontario as well as the Genesis PGM Project in Alaska. The Lithium division is the largest mineral claim holder in the Winnipeg River Pegmatite Field, where the Company is exploring for hard rock lithium and various rare elements such as tantalum and rubidium. Our philosophy is to be a project generator with the objective of optioning our projects with major and junior mining companies through to production. The Company is actively seeking an option/ joint venture partner for its road-accessible Genesis PGM project in Alaska and for our Lithium division in Manitoba.
About the River Valley Palladium Project
The details of the updated Mineral Resource Estimate (MRE) and Preliminary Economic Assessment (PEA) were announced in the press release dated August 9, 2019 and are described on NAM’s website. The pit constrained Updated Mineral Resource Estimate formed the basis of the PEA . At a cut-off grade of 0.35 g/t PdEq, the Updated Mineral Resource Estimate contains 2.867 Moz PdEq in the Measured plus Indicated classifications and 1.059 Moz PdEq in the Inferred classification. The PEA is a preliminary report, but it demonstrates that there are potentially positive economics for a large-scale mining open pit operation, with 14 years of Palladium production. Refer to the NAM website (www.newagemetals.com) for details.
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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, P.Geo., a consulting geoscientist for New Age Metals. 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
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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 forw ard-looking statements.
