Geology, geophysics, and exploration on Treaty Creek indicate potential for world class deposits.
April 18th, 2018 /Â Rockport, Canada – New Age Metals Inc. (TSX.V: NAM; OTCQB: NMTLF; FSE: P7J.F) is pleased to announce that it has signed an agreement with Anglo Alaska Gold Corp. (“Anglo Alaska”). The agreement which is subject to regulatory approval allows for New Age Metals and its wholly owned subsidiary Pacific Northwest Capital USA (jointly called “NAM”) to acquire 100% interest of the 10,240 acre road accessible and drill ready Genesis PGM Project, located in the Valdez and Chitina Recording District, of Alaska.
Harry Barr, Chairman/CEO of New Age Metals stated: “We are pleased to have the final agreement completed and partner with Anglo Alaska on the Genesis PGM Project. NAM uses the Prospector Generator Model and after the preliminary field work and additional ground proofing, our objective is to find an option/joint venture partner to further the development of this promising new drill ready project, with excellent base metal credits. NAMs management will continue to actively acquire other PGM and other rare metal projects in the state of Alaska.
Click Image To View Full Size
Figure 1: Projects Location Map: The road accessible Genesis PGM Project adjacent to Richardson Highway and 138 kv electric lines. The project is 460 road kilometers to Fairbanks, Alaska and 120 road kilometers to the all-weather port city of Valdez
Merits of the Genesis PGM Project
The Genesis PGM Project is an under explored, highly prospective multi-prospect drill ready Pd-Pt-Ni-Cu property that warrants follow-up drilling, additional surface mapping, sampling to expand the known footprint of mineralization and to determine the ultimate size and grade of the layered mineralization outlined to date. The stable land status, ease of access and superb infrastructure make this project prospective for year-around exploration, development and production.
Significant aspects of the Genesis PGM Project include:
– No historic drilling has been done on the project.
– Project is within 3 km of a paved highway and electric transmission line.
– Project is on stable State of Alaska claims.
– Fraser Institute’s 2017 survey of mining companies has Alaska ranked as the 10th best jurisdiction in the world for mining.
Terms of the Final Agreement
In order for NAM to earn 100% of the Genesis PGM Project, NAM has agreed to the following terms:
Under the terms of the agreement and in the event the project goes into production, NAM has agreed to pay Anglo Alaska a 3% net smelter royalty return on the project. The agreement also calls for NAM to be able to buy down the 3% royalty as follows:
The agreement between NAM and Anglo Alaska calls for NAM to pay the minimum State of Alaska mining claim rentals and annual labor on a yearly basis.
All securities issued in connection with the property option will be subject to a four-month-and one-day statutory hold period. The property option remains subject to a number of conditions, including negotiation of definitive agreements, approval of the TSX Venture Exchange, and such other conditions as are customary in transactions of this nature.
The agreement is for an aggregate of 64 contiguous one hundred and sixty-acre claims (10,240 acres) in the Valdez and Chitina Recording District, Alaska. This can be seen in the map below.
Click Image To View Full Size
Warrant Extension
The Company also announces that it will make an application to the TSX Venture Exchange to amend the terms of 5,273,560 (post-consolidated) share purchase warrants, (the “Warrants”). Subject to TSX Venture Exchange approval, the original expiry date of May 3, June 29 and October 4, 2018 is proposed to be extended to May 3, June 29 and October 4, 2020. The Company will also apply to amend the exercise price of 4,550,917 Warrants from their current exercise price of $0.60 to an amended exercise price of $0.20 per share during the first year and $0.25 per share during the second year, subject to an acceleration clause, such that the exercise period of the Warrants will be reduced to 30 days if, for any 10 consecutive trading days during the unexpired term of the Warrants, the closing price of the Company’s shares is $0.30 or more. All other terms and conditions will remain the same.
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ABOUT AVALON DEVELOPMENT CORP, NAM’S GEOLOGICAL CONSULTING COMPANY IN AK
Since its founding in 1985, Avalon Development has evolved along with the mineral industry and its clients. Avalon exploration teams participated in a number of discoveries in the state. Avalon was responsible for Alaska’s newest gold discovery, the +1-million-ounce Peak zone deposit, as well as the 6.5 million ounce intrusive-hosted Dolphin gold deposit, initial targeting of the 20 million-ounce Livengood deposit, and deep high-grade gold resources at the historic Cleary Hill mine. Avalon has also been responsible for platinum group element, copper-nickel and rare metal discoveries on several exploration projects across Alaska. Avalon continues to work with a number of major and junior mining companies involved in precious, base and strategic metal exploration in Alaska. On April 4th, NAM announced that it had signed a binding Letter of Intent (LOI) with Avalon Development Corp. in Alaska. This agreement will allow NAM to utilize Avalon’s extensive geophysical and geochemical database for a period of two years to enable NAM’s management and technical team to acquire additional PGM, and rare metal projects in the State of Alaska in the future. See April 4th, 2018 press release for more details
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 North America’s largest undeveloped primary PGM deposit with Measured + Indicated resources of 160 million tones @ 0.44 g/t Palladium, 0.17 g/t Platinum, 0.03 g/t Gold, with a total metal grade of 0.64 g/t at a cut-off grade of 0.4 g/t equating to 3,297,173 ounces PGM plus Gold and 4,626,250 PdEq Ounces. This equates to 4,626,250 PdEq ounces M+I and 2,713,933 PdEq ounces in inferred (figure 1). Having completed a 2018 NI-43-101 resource update the company is finalizing its 2018 exploration programs which will include geophysics, and extensive drill programs, which are all working towards the completion of a Preliminary Economic Assessment (PEA). Our objective is to develop a series of open pits (bulk mining) over the 16 kilometers of mineralization, concentrate on site, and ship the concentrates to the long-established Sudbury Metallurgical Complex. Alaska: April 4th, 2018, NAM signed an agreement with one of Alaska’s top geological consulting companies. The companies stated objective is to acquire additional PGM and Rare Metal projects in Alaska.
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 one of the largest mineral claim holders for Lithium in the Winnipeg River Pegmatite Field. On January 15th 2018, NAM announced an agreement with Azincourt Energy Corporation (see Jan 15, 2018 and Feb 22nd, 2018 Press Releases) whereby Azincourt will commit up to $3.85 million dollars in exploration, up to 3 million shares of Azincourt stock to NAM, up to $210,000 in cash, and a 2% net smelter royalty on all 5 projects. Exploration plans for 2018 are currently in progress, whereby a minimum of $500,000 will be expended this year.
QUALIFIED PERSON
The contents contained herein that relate to Exploration Results or Mineral Resources is based on information compiled, reviewed or prepared by Curt Freeman, a consulting geologist for New Age Metals. Mr. Freeman is the Qualified Person as defined by National Instrument 43-101 and is the owner of Avalon Development Corp. and Anglo Alaska Gold Corp, which is the vendor of the Genesis PGM Project. Mr. Freeman 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
ADDITIONAL INFORMATION
Should you have additional inquiries, please contact Paul Poggione, Corporate Development, Tel: 1-613-659-2773, email: [email protected].
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.
TN: CSE
Investment Highlights
Kenbridge Ni Project (ON, Canada)
Toronto, Ontario – Tartisan Nickel Corp. (CSE: TN, FSE: A2DPCM) (“Tartisanâ€, or the “Companyâ€) is pleased to announce that the Company has signed a contract with Abitibi Geophysics Ltd (“Abitibiâ€) of Thunder Bay, Ontario for a drone magnetic survey and a 3D induced polarization orientation survey over the Kenbridge Nickel-Copper-Cobalt deposit near Kenora, Ontario. Contracted works will commence once lines have been cut and break-up has advanced sufficiently to allow surface access to the Kenbridge site.
Abitibi will provide an Aerovision™ drone magnetometer survey over approximately 70% of the total Kenbridge lands and is a follow up to the VTEM survey conducted by the previous owners in 2008. This survey delineated a strong magnetic feature with a 2-km strike length with a prominent deep-seated 200m long conductive anomaly located along the flank of the magnetic anomaly. The prospective target is located some 2.5km to the northeast of the Kenbridge deposit, situated along the same structural trend of the Kenbridge intrusion. The drone survey automatically corrects for objects of varying height (building on site; tall trees) allowing for consistent data over the 14.73 square km survey area. A total of 338.5 line-km will be flown with lines at 50m spacing.
A 5-line 10-km Induced Polarization Survey over the Kenbridge Deposit is planned with IPower 3D™ using a 3D electrode array measuring chargeability on multi-directional dipoles and yielding up to approximately a 600m depth of investigation, sufficient for proving mineralization continuity down to the bottom of the deposit as defined by previous operators. If successful, this survey will be applied to the 2-km magnetic anomaly as previously described to test for deep-seated mineralization. This survey is expected in the latter part of 2018.
Tartisan Nickel CEO Mr. Mark Appleby noted, “The drone magnetometer survey and the deep IP survey are modern exploration tools that will give us a very good idea of the best areas for follow up exploration in the Kenbridge camp.â€
The drone magnetic survey will be integrated with a LIDAR survey at 1m contour intervals to better focus future exploration and definition efforts.
The Kenbridge Deposit hosts measured and indicated resources of 7.139 million tonnes of 0.62% nickel; 0.33% copper; and 0.016% cobalt; with inferred resources of 0.118 million tonnes of 1.38% nickel; 0.88% copper; and 0.003% cobalt. In total a contained nickel resource of 97.8 million pounds of nickel and 47 million pounds of copper has been defined by previous operators to data. The Kenbridge deposit is equipped with a 623m shaft and two levels and has never been mined. Mineralization is open at depth and along strike.
ABOUT TARTISAN NICKEL CORP.
Tartisan also owns a 100% interest in the Alexo-Kelex Nickel property, a past-producing nickel deposit near Timmins, Ontario with historical production of some 87,000 tonnes of nickel grading 3.06%. Tartisan Nickel is actively evaluating Alexo-Kelex to determine potential courses of action that would add value to the Corporation.
In Peru, Tartisan owns a 100% stake in the Don Pancho Zinc-Lead-Silver Project in Peru just 9 km from Trevali’s Santander mine and owns a 100% stake in the Ichuna Copper-Silver Project, contiguous to Buenaventura’s San Gabriel property. Tartisan also owns a significant equity stake (6 million shares and 3 million warrants at 40 cents) in Eloro Resources Ltd, which is exploring the low-sulphidation epithermal La Victoria Gold/Silver Project in Ancash, Peru. Tartisan Nickel Corp. common shares are listed on the Canadian Securities Exchange (CSE:TN, FSE: A2DPCM). Currently, there are 97,623,550 shares outstanding (109,547,594 fully diluted).
For further information, please contact Mr. D. Mark Appleby, President & CEO and a Director of the Company, at 416-804-0280 ([email protected]). Additional information about Tartisan can be found at the Company’s website at www.tartisannickel.com or on SEDAR at www.sedar.com.
Jim Steel MBA P.Geo. is the Qualified Person under NI 43-101 and has read and approved the technical content of this News Release.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
13 April 2018 – 08:38 Swati Verma
Gold rose on Friday and was set to post a small gain for a second consecutive week, supported by tensions over Syria.
Spot gold rose 0.4% to $1,339.71/oz as of 3.24am GMT, and was set for a weekly gain of 0.5%. US gold futures were up 0.1% at $1,342.70/oz.
Spot gold is expected to rise to $1,348/oz, as it has found a support at $1,334, said Reuters’ technical analyst Wang Tao.
Prices were gaining on tension over Syria, which had stoked geopolitical concern, said Richard Xu, a fund manager at HuaAn Gold, China’s biggest gold exchange-traded fund.
President Donald Trump and his national security aides on Thursday discussed US options on Syria, where he has threatened missile strikes in response to a suspected poison gas attack, as a Russian envoy voiced the fear of wider conflict between Washington and Moscow. Trump, however, cast doubt over the timing of his threatened strike on Syria on Thursday, by tweeting that an attack on Syria “could be very soon or not so soon at all”.
Global stocks recovered and the dollar firmed after Trump’s comments, which weighed on the dollar-denominated bullion.
Gold prices dropped 1.3% on Thursday, the biggest one-day percentage fall since March 28. Prices have fallen by more than $25/oz since climbing to an 11-week high of $1,365.23/oz on Wednesday.
The easing concern over the trade war between China and the US also weighed on gold prices in the previous session.
“Going forward I see downside risk for gold prices in general, the ebbing trade war concerns as well as improvement in growth-related news should bring safe-haven demand lower into the year ahead,” said OCBC analyst Barnabas Gan.
Trump said on Thursday that the trade “negotiations” between Washington and Beijing were going well, conflicting with Chinese official statements on the dispute.
Meanwhile, holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.69% to 865.89 tonnes on Thursday.
In other precious metals, platinum was 0.2% higher at $926.74/oz.
Palladium was up 0.5% at $968.50/oz and on track for a more than 7% rise this week.
Spot silver rose 0.4% to $16.49/oz.
Global silver physical demand dropped to its lowest level in five years during 2017, led largely by a steep decline in coin and bar demand, even as industrial demand increased, according to Thomson Reuters GFMS.
Reuters
Source: https://www.businesslive.co.za/bd/markets/2018-04-13-gold-set-for-second-consecutive-weekly-gain-on-tension-over-syria/
ROUYN-NORANDA, Quebec, April 11, 2018 – Explor Resources Inc. (“Explor†or “the Corporationâ€) (TSX-V:EXS) (OTCQB:EXSFF) (FSE:E1H1) (BE:E1H1) is pleased to announce the acquisition of 9 mineral claims located in the Hébécourt Township and in the Lac Duparquet and Rapide-Danseur Municipalities, in the Rouyn-Noranda Mining Division, Province of Quebec for a total of 383.30 hectares. These claims are contiguous to the East Bay Property. Explor will issue pay $5,000 cash and issue 450,000 shares to acquire a 100% interest in the additional East Bay claims.
This program is in line with the Corporation’s strategy of conducting exploration along the Porcupine Destor Fault Zone (PDFZ), where several notable gold deposits have been found in the past, including the Timmins mining camp which produced more than 80 million oz of gold. The Corporation now owns 11,389.20 ha of land along this section of the PDFZ. Explor’s East Bay property is contiguous and wraps around the western portion of the former Clifton Star’s Duparquet property as shown on the attached plan. The East Bay property is approximately 0.5 km west of the former Consolidated Beattie and Donchester Gold Mines.The former Consolidated Beattie and Donchester Gold Mines, produced over 1.0 million oz of gold between 1933 and 1956. The former Clifton Star in a previous press release announced (Press Release dated April 09, 2014) significant proven and probable reserves of 1,895,530 oz at 1.50 g/t Au and a measured and indicated resource of 1,127,972 oz at 1.48 g/t Au on their property.
The East Bay Gold Property is located to the west of the Consolidated Beattie and Donchester Gold Property and contiguous to the ground on which the former Clifton Star Resources Inc. intersected wide width of gold mineralization (Press Releases dated June 19 and June 6, 2013).
Chris Dupont, P.Eng is the qualified person responsible for the information contained in this release.
Explor Resources Inc. is a publicly listed company trading on the TSX Venture (EXS), on the OTCQB (EXSFF) and on the Frankfurt and Berlin Stock Exchanges (E1H1).
This Press Release was prepared by Explor. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the Policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.
About Explor Resources Inc.
Explor Resources Inc. is a Canadian-based natural resources company with mineral holdings in Ontario, Québec, Saskatchewan and New Brunswick. Explor is currently focused on exploration in the Abitibi Greenstone Belt. The belt is found in both provinces of Ontario and Québec with approximately 33% in Ontario and 67% in Québec. The Belt has produced in excess of 180,000,000 ounces of gold and 450,000,000 tonnes of Cu-Zn ore over the last 100 years. The Corporation was continued under the laws of Alberta in 1986 and has had its main office in Québec since 2006.
Explor Resources Flagship project is the Timmins Porcupine West (TPW) Project located in the Porcupine mining camp, in the Province of Ontario. The TPW mineral resource (Press Release dated August 27, 2013) includes the following:
Open Pit Mineral Resources at a 0.30 g/t Au cut-off grade are as follows: Â Â Indicated: 213,000 oz (4,283,000 tonnes at 1.55 g/t Au) Â Inferred: 77,000 oz (1,140,000 tonnes at 2.09 g/t Au) Â Â Â Underground Mineral Resources at a 1.70 g/t Au cut-off grade are as follows: Â Â Indicated:Â 396,000 oz (4,420,000 tonnes at 2.79 g/t Au)Â Â Inferred:Â Â 393,000 oz (5,185,000 tonnes at 2.36 g/t Au)
This document may contain forward-looking statements relating to Explor’s operations or to the environment in which it operates. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and may be beyond Explor’s control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements, including those set forth in other public filling. In addition, such statements relate to the date on which they are made. Consequently, undue reliance should not be placed on such forward-looking statements. Explor disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.
For further information please contact: Â Â Â Â Â Â Â Â Â Â
Christian Dupont, President   Tel: 888-997-4630 or 819-797-4630   Fax: 819-797-1870   Website: www.explorresources.com   Email: [email protected]  Â
April 11th 2018 / Rockport, Canada – New Age Metals Inc. (NAM) (TSX.V: NAM; OTCQB: NMTLF; FSE: P7J.F) Harry Barr, Chairman & CEO, stated; “The company is pleased to update our shareholders on the first and positive round of 2018 mineralogical results from Expert Process Solutions (XPS) in Sudbury, Ontario. In regards to our Lithium Division, our second field manager meeting was held last week with our partner Azincourt Energy Corp. (TSX.V AAZ) and plans are well underway to begin the 2018 spring/summer exploration program when weather permits.”
2018 Phase 1 Mineralogical Result
A mineralogical analysis has been completed on four composites from New Age Metal’s River Valley property. The composites were created from existing samples and include typical grade Pine Zone, high-grade Pine Zone, typical grade Dana Zone and high-grade Dana Zone. The work focussed on both Platinum Group Metals (PGM) and base metals mineralogy. QEMSCAN (Quantitative Evaluation of Materials by Scanning Electron Microscope), EPMA (Electron Probe Micro Analysis) and LA-ICP-MS (Laser Ablation-Inductively Coupled Plasma-Mass Spectrometry) were utilised to characterise the samples.
President & COO, Trevor Richardson, stated: “The results from this Mineralogical program have added to our previous conclusive and positive studies. This study gave us much more detailed mineralogical analysis which will help provide and to better understand the River Valley Intrusion moving towards more detailed metallurgical studies, recovery analysis, and this work and further studies will become part of our proposed Preliminary Economic Assessment (PEA).” The report further added:
Ground IP Geophysics
Recently a second phase of ground IP geophysics has been completed on an area south of the Pine Zone and over the T4 to T9 target anomalies (Figure 1). The new survey area represents a strike length of approximately 2000 metres. The final report from Abitibi Geophysics is expected by mid-April. When completed, it will be sent to our Sudbury geophysical consultant Alan King who completed a previous compilation of our past geophysical programs in late 2017. Based on the recommendations of Abitibi and Alan King, the company will outline a series of drill programs to test the new geophysical anomalies generated from the survey and outline additional drilling in the Pine Zone through to the T9 areas. The geophysical survey was a high-resolution OreVision(R) IP survey, which can reveal targets at four times the depth of conventional IP without compromising near-surface resolution.
Click Image To View Full Size
Figure 1: Northern Portion of the River Valley PGM Deposit Showing Regions of Current IP Geophysics. NOTE: Image only represents approximately 3.5 km of the overall strike length of the River Valley PGM deposit.
River Valley PGM Exploration Plan Going Forward
Our corporate mandate for the River Valley PGM Project is to build a series of open pits (bulk mining) over the 16 kilometers of mineralization. We will concentrate on site and ship the concentrates approximately 100 km to the Sudbury Metallurgical Complex.
Click Image To View Full Size
Figure 2: The Yellow Band represents the interpolated footwall potential area of the River Valley Deposit based on the results of the Pine Zone where footwall mineralization was noted to extend 150 meters eastward from the main deposit. At present the only area that has confirmed footwall mineralization is in the Pine Zone (defined from 2015 to 2017 drilling). Exploration is in progress to test other areas of the deposit.
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 one of the largest mineral claim holder for Lithium in the Winnipeg River Pegmatite Field. On January 15th 2018, NAM announced an agreement with Azincourt Energy Corporation (see Jan 15, 2018 and Feb 22nd, 2018 Press Release) whereby Azincourt will commit up to $3.85 million dollars in exploration, up to 3 million shares of Azincourt stock to NAM, up to $210,000 in cash, and a 2% net smelter royalty on all 5 projects. Two field manager meetings have been held and exploration plans for 2018 are currently in progress for the spring and summer.
Click Image To View Full Size
Figure 3: Location of NAM’s 5 Lithium Projects in Southeast Manitoba. Presently, NAM, with its option/joint venture partner Azincourt Energy Corp. (AAZ), are one of the largest mineral claim holders in the Winnipeg River Pegmatite Field.
ABOUT NAM IN ALASKA
On April 4th 2018 (see April 4th, 2018 Press Release), NAM signed a binding Letter of Intent (LOI) with Avalon Development Corp. This agreement will allow NAM to acquire projects in the State of Alaska. Under the terms of the LOI, Avalon will be providing NAM with its extensive geological, geochemical, and geophysical database on PGM’s, PGM Polymetallic, and Rare Metals for a minimum of 2 years. Additionally, the agreement states that Avalon will act as the field manager for any future projects as well as they will receive a finder’s fee and/or property option compensation for its services.
THIRD PARTY ANALYTICAL REPORTS
In January 2018, we received a second detailed analytical report conducted by Siddharth Rajeev of Fundamental Research Corporation. The FRC report is currently available to view on www.newagemetals.com for further information please email Paul Poggione in Corporate Development at [email protected] or call 613-659-2773.
OPT-IN LIST
If you have not done so already, we encourage you to sign up on our website (www.newagemetals.com) to receive our updated news.
STOCK OPTION GRANT
In addition, the Company announces that it has granted 150,000 incentive stock options to directors, officers and consultants of the Company at an exercise price of $0.14 per share for a period of five (5) years from the date of grant in accordance with the Company’s Stock Option Plan. The Stock Options granted will be subject to vesting restrictions and will vest over a period of one (1) year from the date of grant. The options are subject to acceptance by the TSX Venture Exchange and will be subject to regulatory hold periods in accordance with applicable Canadian Securities Laws.
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
ADDITIONAL INFORMATION: Should you have additional inquiries, please contact Paul Poggione, Corporate Development, Tel: 1-613-659-2773, email: [email protected]
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.
Glencore is spending nearly $1 billion to mine new ore underneath Sudbury.
The Onaping Depth project was announced at the same time as Vale revealed plans to go ahead with its multi-million dollar expansion of Copper Cliff Mine, also known as “Copper Cliff Deep.”
“I think deep will be the new norm and certainly in Sudbury, that’s where the future lies,” said Peter Xavier, Glencore vice-president of Sudbury operations.
The deposit is located 2,500 metres beneath the mothballed Craig Mine in Onaping and was found in the 1990s. Xavier says it’s taken years of planning to figure out how to mine safely and economically at that low level.
He says it’s also getting the greenlight now, despite nickel and other metal prices being in a prolonged slump, because Glencore’s two other Sudbury mines — Nickel Rim and Fraser — will be wrapped up by 2025, just as Onaping Depth hits full production.
Xavier says that new ore is needed to feed the company’s mill and smelter and maintain the Sudbury workforce of 1,300 employees, plus 500 contractors.
“Because it comes at the tail end of our existing operations, it would be more accurate to say it sustains our existing presence.” he said.
Peter Xavier is the vice-president of Glencore operations in Sudbury. (Erik White/CBC)
Xavier says one of the big advantages for the Sudbury basin is the polymetallic geology, with copper, platinum and palladium core fuelling profits even if nickel is down.
“And that mitigates a little bit the challenges of the fact that we’re going to depth to extract these ore bodies where it some parts of the world, it’s literally dirt on surface,” he said.
Some of those challenges are also being tackled by using only electric battery vehicles at Onaping Depth, which Xavier says will cut heating, cooling and ventilation costs, as well as the bill for running the machines.
Glencore will also use some of the existing infrastructure at Craig Mine, which was put on care and maintenance in 2009, but has been used since then by KGHM to access its Levack deposit.
“Most people in the community don’t realize that the organizations collaborate quite extensively,” Xavier said of other Sudbury mining companies, including Vale, which is partnering with Glencore to access a deposit through Fraser Mine.
“For us it’s a normal way of looking at things.”
For its Onaping Depth project, Glencore will use some of the existing infrastructure at Craig Mine, which was shut down in 2009. (Erik White/CBC)
However Xavier says formal mergers are “not the discussions of today.”
But he sees a bright future for the local mining sector, with a deep mining project at Nickel Rim next on the list.
All of this is good news for the members of Unifor Mine Mill Local 598, where Marcel Charron is the senior representative.
“It means long term viability for the company and good jobs for our members,” he said.
Charron says he’s hopeful that some positions will open up for younger workers in the coming years, especially with a large group of Glencore employees set to retire in 2019.
Source: http://www.cbc.ca/news/canada/sudbury/onaping-depth-sudbury-mining-1.4604208
