Agoracom Blog Home

Posts Tagged ‘Platinum’

New Age Metals $NAM.ca Completes Genesis #PGM/ #Polymetallic Technical Report, Management Actively Seeking Option/Joint-Venture Partner Drill Ready/Road Accessible Alaskan Project $WG.ca $XTM.ca $WM.ca $PDL.ca $GLEN $LIC.ca $LIX.ca

Posted by AGORACOM-JC at 8:53 AM on Wednesday, August 29th, 2018

New age large

  • On April 4th, NAM announced it had signed a binding Letter of Intent (LOI) with Avalon Development Corp. in Alaska to use its PGM database. This agreement will aid NAM in acquiring additional PGM projects in the State in the future.
  • The Genesis PGM Project is a road accessible, under explored, highly prospective multi-prospect drill ready Pd-Pt-Ni-Cu property that warrants initial 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.
  • On April 18th, NAM acquired rights for 100% interest in the 10,240-acre, road accessible and drill ready Platinum Group Metal (PGM)/Polymetallic Project.
  • The mineralized horizon has been identified in outcrop sampling for 850 m along strike and a 40 m true thickness. (for more information please click to the April 18, 2018 news release).
  • The identification of two different styles of PGM/ Multi-Element mineralization at Sheep Hill suggests that multiple mineralizing events have occurred.
  • The stable land status, ease of access and superb infrastructure make this project prospective for year-around exploration, development and production.
  • Outcrop sampling has returned values of 16-9,660 ppm Ni, 0.5-5,800 ppm Cu, 0-2,800 ppb Pt, 0-2,540 ppb Pd
  • The company is actively seeking an Option/Joint-Venture partner to further develop this project

August 29th 2018 / Rockport, Canada – New Age Metals Inc. (NAM) (TSX.V: NAM; OTCQB: NMTLF; FSE: P7J.F) The company is very pleased to announce that the first technical report on NAM’s 100% owned Genesis PGM/Polymetallic Project is complete.

NAM Seeking Option/Joint-Venture Partner

NAM management is actively seeking an option/joint-venture partner for this road accessible PGM/Multiple Element Project using the Prospector Generator business model. For a copy of the Avalon report please contact Cody Hunt, Business Development ([email protected]) or by phone at 613-659-2773. A standard confidentiality agreement will be forwarded to the interested party and the report will be made available.

Avalon Development Corporation (Avalon) provided geologic consulting, including field sampling, mapping and data compilation on this project in the past and was retained to compile this NI 43-101 compliant report.

The Genesis project is a Ni-Cu-PGM property located in the northeastern Chugach Mountains, 75 road miles north of the city of Valdez, Alaska. The project is within 3 km of the all-season paved Richardson Highway and a high capacity electric power line. The project is covered by 4,144 hectares (10,240 acres) of State of Alaska mining claims owned 100% by New Age Metals. Past exploration has revealed the presence of chromite-associated platinum and palladium mineralization and stratabound Ni-Cu-PGM mineralization within steeply dipping magmatic layers of the Sheep Hill portion of the Tonsina Ultramafic Complex. The mineralized horizon has been identified in outcrop sampling for 850 m along strike and a 40 m true thickness.

 


Click Image To View Full Size

Figure 1: Location of the Genesis Project, Nelchina Mining District, Alaska.

PGM values at Genesis are strongly correlated with the chromite rich portions of the mineralized horizon, while Ni and Cu are strongly correlated with sulfide rich portions of the mineralized horizon. Metal grades are regular over multiple meter intervals, including 6 meters grading 804 ppb platinum and 1,018 ppb palladium, and 12 meters grading 5,938 ppm nickel. There has been no drilling on this district-scale project and the strike and depth extent of Ni-Cu-PGM mineralization remains untested. Additionally, two areas of banded chromite hosted in dunite and harzburgite on the Bernard Mountain portion of the Tonsina Ultramafic Complex host multiple ppm PGM and a sample of chromite hosted in the olivine websterite unit contains the high values for both Platinum (Pt) and Palladium (Pd) for a combined 5,340 ppb PGM. Outcrop sampling has returned values of 16-9,660 ppm Ni, 0.5-5,800 ppm Cu, 0-2,800 ppb Pt, 0-2,540 ppb Pd. Limited geochemical sampling and geologic mapping has been conducted over these two mafic-ultramafic massifs.

The identification of two different styles of PGM mineralization at Sheep Hill suggests that multiple mineralizing events have occurred. The parental magma for the Tonsina Ultramafic Complex contained highly anomalous concentrations of PGM and Ni. More exploration is required to define if a reef event has formed the stratabound magmatic sulfide mineralization and if the geochemical patterns caused by reef formation hosts economically significant Ni-Cu-PGM mineralization in the Tonsina Ultramafic Complex.

The different Cr/Fe ratios for chromite ores studied by the USBM during the 1980’s (Foley et al, 1985, Foley and others, 1987) fits with observations from layered intrusions with multiple chromite horizons (Maier and Barnes, 2005) where the Cr/Fe ratio decreases in successive chromite layer formation. The decrease in Cr/Fe ratios between Bernard Mountain, thought to be a basal sequence, and Sheep Hill, interpreted to be a stratigraphically higher portion of the intrusive complex (Foley and others, 1987), could indicate that multiple chromite formation events have occurred in the ultramafic magma chamber, and that other PGM-enriched horizons remain undiscovered. PGM profiles of Genesis project outcrop samples show a Ruthenium trough, which is postulated to have formed during partial melting of the mantle in a subduction environment, and are more similar to PGM profiles from Ni-Cu-PGM ores from layered intrusions such as Stillwater, the Great Dyke, and Penikat, than PGM profiles from ophiolite associated ores.

 


Click Image To View Full Size

Figure 2: 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:

  • – Drill ready PGM-Ni-Cu reef style target with 2.4 grams/ton Palladium (Pd), 2.4 grams/ton Platinum (Pt), 0.96% Nickel (Ni), and 0.58% Copper (Cu).
  • – Reef mineralization is open to the west, east, north, and at depth.
  • – Mineralized reef identified in outcrop for 850 m along strike and a 40 m true thickness.
  • – Separate style of chromite mineralization contains Platinum Group Metals (PGM) up to 2.5 g/t Pd and 2.8 g/t Pt.
  • – Known PGM mineralization covers a distance of 9 km across the prospect.
  • – 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.

The agreement with Anglo Alaska is for an aggregate of 64 contiguous one hundred and sixty-acre claims (10,240 acres) in the Valdez and Chitina Recording District, Alaska.

 


Click Image To View Full Size

Figure 3: Claim location map for the Genesis Project.

Future Recommended Work on the Genesis Project by Avalon Development’s August 2018 Report

Year 1: Initial efforts at Genesis should focus on detailed geologic mapping (1:1,000 or better), grid-based lithogeochemical sampling, 2D and 3D reinterpretation of previously completed airborne and ground geophysical surveys, and acquisition, interpretation and ground-truthing of hyperspectral imagery over the Tonsina Ultramafic complex and vicinity. This effort will require some pre-season desk-top work (geophysical reinterpretation and hyperspectral analysis) followed by field work centered on 6 to 8 person tent camps that are emplaced by helicopter but which do not have daily helicopter support. The focus of field efforts will be detailed geologic mapping and lithogeochemical sampling designed to locate and define both bedded and chromite-related Cu-Ni-PGM mineralization to a degree sufficient to target drilling in year 2. All analytical work will include Pt+Pd+Au by fire assay and multi-element IPC-AES analysis with 4-acid digestion. Total estimated cost of this program is approximately $500,000.

Year 2: Exploration recommended for year 2 will be focused on initial scout drilling of one or more targets as refined by year one efforts. Approximately 2,500m of drilling is included in this program. Hole coordinates, inclinations and azimuths will be refined using results from year 1 field efforts. Drilling will be helicopter supported using an LF70 or CS1000 or equivalent drilling rig supplied with water derived from local streams or ponds. Drill support will be from a contract tent camp capable of supporting 10-12 persons. All drill core will be logged, photographed, and sawed with one-half of the core remaining in archive, the other half being shipped for geochemical analysis. All analytical work will include Pt+Pd+Au by fire assay and multi-element IPC-AES analysis with 4-acid digestion. Total estimated cost of this program is approximately $1,000,000.

Year 3: Exploration recommended for year 3 will be focused on definition drilling of the most promising target drilled in year 2. The goal of year 3 efforts will be to advance at least one target to the inferred resource stage. Approximately 5,000 metres of drilling is included in this program. Hole coordinates, inclinations and azimuths will be refined using results from year 2 drilling efforts. Drilling will be helicopter supported using an LF70 or CS1000 or equivalent drilling rig supplied with water derived from local streams or ponds. Drill support will be from a contract tent camp capable of supporting 10-12 persons. All drill core will be logged, photographed, and sawed with one-half of the core remaining in archive, the other half being shipped for geochemical analysis. All analytical work will include Pt+Pd+Au by fire assay and multi-element IPC-AES analysis with 4-acid digestion. Total estimated cost of this program is approximately $1,500,000. NAM’s management are actively seeking an Option/Joint-Venture partner for Genesis.

ABOUT NAM’S LITHIUM DIVISION

The summer exploration plan has begun for the company’s Lithium Division (June 14th, 2018). NAM has 100% ownership of eight pegmatite hosted Lithium Projects in the Winnipeg River Pegmatite Field, located in SE Manitoba, with focus on Lithium-bearing pegmatites. 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 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 for Lithium and Rare Metal projects in the Winnipeg River Pegmatite Field.

Lithium Canada Development is a 100% owned subsidiary of New Age Metals (NAM) who presently has an agreement with Azincourt Energy Corporation (AAZ) whereby AAZ will now expend a minimum of $600,000 in 2018. In its initial earn in AAZ may earn up to 50%, of the eight Lithium projects that are 100% owned by NAM. AAZ’s 50% exploration expenditure earn in is $2.950 million and should they continue with their option they must issue up to 1.75 million shares of AAZ to NAM. NAM has a 2% royalty on each of eight Lithium Projects in this large underexplored pegmatite field. On July 11th,2018, NAM announced that they had exercised their option to search for Lithium and Rare Metals on the CAT4 claim. For additional information on the NAM/AAZ option/joint-venture and recent acquisitions (see the news releases dated Jan 15, 2018, May 2, 2018, May 10, 2018, June 6, 2018, June 13, 2018, July 11, 2018) or go to the investors presentation on www.newagemetals.com

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 Mineral Resources of 160 million tonnes @ 0.44 g/t Palladium, 0.17 g/t Platinum, 0.03 g/t Gold, with a PdEq metal grade of 0.90 g/t at a cut-off grade of 0.4 g/t PdEq equating to 3,297,000 ounces PGM plus Gold and 4,626,000 PdEq Ounces (Table 1). This equates to 4,626,000 PdEq ounces M+I and 2,714,000 PdEq ounces in Inferred classification (see May 8th, 2018 press release). NAM is currently conducting Phase 4 of their proposed 2018 exploration and development program. The current program is based on recommendations of previous geophysical studies and reviews by the company’s consultants, recent drilling, ongoing advanced metallurgical and minerology studies and selective pit design drill programs. The results of Phase 4 will assist in early PEA work being conducted by P&E Mining Consultants Inc and DRA Americas Inc and is meant to contribute towards the River Valley PEA. Mr. Michael Neumann, P.Eng., a veteran mining engineer and one of NAM’s directors, will oversee the completion of the PEA.

On 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. On April 18th, 2018, NAM announced the right to purchase 100% of the Genesis PGM Project, NAM’s first Alaskan PGM acquisition related to the April 4th agreement. The Genesis PGM Project is a road accessible, under explored, highly prospective, multi-prospect drill ready Palladium (Pd)- Platinum (Pt)- Nickel (Ni)- Copper (Cu) property. A comprehensive report on previous exploration and future phases of work was completed in August 2018 on Genesis. This report was completed by Avalon Development of Fairbanks Alaska.

On August 29 the Avalon report was submitted to NAM, management is actively seeking an option/joint-venture partner for this road accessible PGM and Multiple Element Project using the Prospector Generator business model. For a copy of the Avalon report please contact Cody Hunt, Business Development ([email protected]) or by phone at 613-659-2773. A standard confidentiality agreement will be forwarded to the interested party and the report will be made available.

The results of the new Mineral Resource Estimate for NAM’s flagship River Valley PGM Project are tabulated in Table 1 below (0.4 g/t PdEq cut-off).

Class Tonnes

‘,000

Pd (g/t) Pt (g/t) Rh (g/t) Au (g/t) Cu (%) Ni (%) Co (%) PdEq (g/t)
Measured 62,877.5 0.49 0.19 0.02 0.03 0.05 0.01 0.002 0.99
Indicated 97,855.2 0.40 0.16 0.02 0.03 0.05 0.01 0.002 0.83
Meas +Ind 160,732.7 0.44 0.17 0.02 0.03 0.05 0.01 0.002 0.90
Inferred 127,662.0 0.27 0.12 0.01 0.02 0.05 0.02 0.002 0.66
Class PGM + Au (oz) PdEq (oz) PtEq (oz) AuEq (oz)
Measured 1,440,200 1,999,600 1,999,600 1,136,900
Indicated 1,856,900 2,626,700 2,626,700 1,463,800
Meas +Ind 3,297,200 4,626,300 4,626,300 2,600,700
Inferred 1,578,400 2,713,900 2,713,900 1,323,800

Notes:

  1. A.CIM definition standards were followed for the resource estimation.
  2. B.The 2018 Mineral Resource models used Ordinary Kriging grade estimation within a three-dimensional block model with mineralized zones defined by wireframed solids.
  3. C.A base cut-off grade of 0.4 g/t PdEq was used for reporting Mineral Resources.
  4. D.Palladium Equivalent (PdEq) calculated using (US$): $1,000/oz Pd, $1,000/oz Pt, $1,350/oz Au, $1750/oz Rh, $3.20/lb Cu, $5.50/lb Ni, $36/lb Co.
  5. E.Numbers may not add exactly due to rounding.
  6. F.Mineral Resources that are not Mineral Reserves do not have economic viability
  7. G. The Inferred Mineral Resource in this estimate has a lower level of confidence that that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.

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, P.Geo., of Avalon Development Corp, a consulting geoscientist for New Age Metals. Mr. Freeman 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 Anthony Ghitter, Business Development, Tel: 1-613-659-2773, email: [email protected] and/or Cody Hunt Business Development, 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.

New Age Metals $NAM.ca Engages DRA Americas Inc to Collaborate with P&E Mining Consultants Inc to Complete Preliminary Economic Assessment on the River Valley $WG.ca $XTM.ca $WM.ca $PDL.ca $GLEN

Posted by AGORACOM-JC at 9:06 AM on Wednesday, August 1st, 2018

New age large

  • NAM has commissioned P&E Mining Consultants Inc (P&E) to lead the PEA on the River Valley PGM Project.
  • DRA Americas Inc (DRA) will be collaborating with P&E to complete the PEA, please refer to the news release dated July 25, 2018 to read further into NAM engaging P&E for the PEA.
  • DRA will assess results from previous and ongoing mineralogical and metallurgical studies, which will help create a business model to determine an optimal processing route.

August 1, 2018 / Rockport, Canada – New Age Metals Inc. (TSX.V: NAM; OTCQB: NMTLF; FSE: P7J.F). Mr. Harry Barr Chairman/CEO stated: “We are pleased to announce that we have engaged DRA Americas Inc (DRA) to collaborate with P&E Mining Consultants Inc (P&E). Their combined objective is to complete the first economic study (PEA) on our River Valley PGM Project. On behalf of our shareholders, Board of Directors, management and consultants I am extremely pleased to get this all important economic study underway. River Valley is a unique North American Platinum Group Metal Project. These two extremely experienced engineering companies have been chosen because of their rare combination of engineering talent and expertise. The PEA will be a high-level engineering and financial study. The main conclusions of the study will include key financial parameters such as after-tax Net Present Value (NPV) and after-tax Internal Rate of Return (IRR) that will evaluate the projects economic viability.

In the meantime, our late summer 2018 drill planning is in progress, metallurgical and mineralogical studies are underway, a complete evaluation of all of our previous geophysical studies is in progress. Management will keep the shareholders informed through the exploration, development and PEA process.

About DRA Americas Inc

DRA is a multi-disciplinary global engineering group that offers comprehensive service such as: delivering mining, mineral processing, energy, agriculture, water treatment and infrastructure services from concept to project development financing options, delivery, asset management and maintenance services. DRA has over 30 years of experience and 3,000 employees working from 12 offices on five continents. DRA has engineered and built most of the primary PGM concentrators in the world representing the majority of the world’s primary platinum being produced. DRA is a preferred due diligence provider to many financial institutions including M&A of PGM projects. For more information on DRA please click the link here to go to their website. Refer to Figure 1 below to see a Platinum concentrator plant that was built by DRA for Ngezi Platinum in South Africa.


Click Image To View Full Size

Figure 1: 2.2 Mtpa concentrator plant built for the Impala Platinum, Ngezi project by DRA in South Africa.

About P&E Mining Consultants Inc.

P&E Mining Consultants Inc, was established in 2004 and provides geological and mine engineering consulting reports, Mineral Resource Estimate technical reports, Preliminary Economic Assessments and Pre-Feasibility Studies. P&E are affiliated with major Toronto based consulting firms for the purposes of collaborating on Feasibility Studies. Their experience covers over 300 technical reports, including but not limited to PGM’s and Base Metals projects.

P&E has experience in geological interpretation, 3D geologic modeling, technical report writing, Mineral Resource and Mineral Reserve Estimates, property evaluations, mine design, production scheduling, operating and capital cost estimates and metallurgical engineering. P&E Mining Consultants Inc operates under Certificates of Authorization from the provinces of Ontario, Newfoundland and Saskatchewan. Associates are also licenced in the provinces of British Columbia, Quebec, NWT/Nunavut and New Brunswick. For more information on P&E please click www.peconsulting.ca to go to their website.

About the PEA

The PEA will evaluate the River Valley Project at a high-level engineering and financial study level. The study will incorporate the latest information provided by the exploration programs as well as metallurgical and geotechnical studies, and recent geophysics. Two international mining engineering consulting groups are collaborating to complete the study: P&E Mining Consultants Inc and DRA Americas Inc.

P&E are the lead group on this study but will be working with DRA to first determine a target production rate by incorporating the most recent May 2018 Mineral Resource model, new mining, process, and geotechnical cost estimates as well as new open pit optimizations to develop a mine production schedule. Please refer to the news release dated July 25, 2018 to read further into NAM engaging P&E for the PEA.

From the target production rate, DRA will be using their extensive database of PGM concentrators to consider all possible processing routes for River Valley material. DRA will review all mineralogical and metallurgical test work that has been completed on River Valley material, with a main focus of analyzing results from an ongoing Ore Sorting study being conducted by XPS and Steinert. The purpose of the current XPS/Steinert study is to explore various methodologies that could facilitate pre-concentration of River Valley material. Pre-concentration would involve rejecting waste and therefore upgrading or increasing the value of material that will be trucked out to further processing.

DRA will further define specific mining and process design parameters for the River Valley Project in conjunction with P&E such as a preliminary mechanical equipment list, which will form the basis of a factored CAPEX estimate. Both firms work will complement each other and aid in developing a high-level review of infrastructure and utility requirements to create inputs for the final technical report which is expected to be completed on or before the end of the first half of 2019.

2018 Drill Program Slated for Late Summer/Fall

NAM plans to initiate a diamond drilling program on the newly discovered high-grade Pine Zone to contribute to early PEA work that will be performed by P&E. P&E will use all previous NI 43-101 compliant Mineral Resource data, the 2017/2018 Abitibi Geophysical report, the reinterpretation of Abitibi Geophysical reports by Alan King, P.Geo., our Sudbury Geophysical consultant as well as the 2018 Summer/Fall drilling results to determine a target mine size for the potential starter open pits in the northern 16 kilometres of mineralization. From this target size, P&E will be able to generate early and advanced mine production scenarios including a mine production schedule. The PEA is scheduled to be completed on or before the end of the first half of 2019.

Additional Northern Portion Footwall PGM Targets

(Pine Zone and other new drill targets)


Click Image To View Full Size

Figure 2: Induced Polarization (IP) chargeability results which show potential drill targets from the 2017 Alan King Geophysical report on the northern portion of the project.

Pine Zone: the most advanced of 9 priority structural PGM targets based on geophysics in the northern portion of the River Valley deposit: open to the east along strike. Target T3: large overlapping geological & surface IP chargeability anomaly in footwall to Dana North Zone; possible down-dip continuation of Pine Zone. Target T9: surface IP chargeability anomaly in footwall to Lismer Zone. Targets T4-T8: drill target modelling in progress. Plus, extensive IP chargeability anomaly in footwall to Banshee Zone and to the south at River Valley Extension (RVX)


Click Image To View Full Size

Figure 3: Zone map of the River Valley PGM Deposit: The Yellow Band in Figure 2 represents the footwall potential area of the River Valley Deposit. Over time NAM’s technical team would like to complete an extensive geophysical program from the top of the 16 km in the most northern zones to its most southernly areas that now are known as the River Valley Extension. The objective of a 16 km program would be to outline other Pine Zone type deposits. The 2018 Abitibi geophysical program and Alan King’s reinterpretation of that report have defined several excellent new targets in the northern portion of the project in both the footwall and along the established contact mineralization. See Figure 2, page 6 of this release for more related information.

ABOUT NAM’S LITHIUM DIVISION

The summer exploration plan has begun for the company’s Lithium Division (June 14th, 2018). NAM has 100% ownership of eight pegmatite hosted Lithium Projects in the Winnipeg River Pegmatite Field, located in SE Manitoba, with focus on Lithium-bearing pegmatites. 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 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 for Lithium and Rare Metal projects in the Winnipeg River Pegmatite Field.

Lithium Canada Development is a 100% owned subsidiary of New Age Metals (NAM) who presently has an agreement with Azincourt Energy Corporation (AAZ) whereby AAZ will now expend a minimum of $600,000 in 2018. In its initial earn in AAZ may earn up to 50%, of the eight Lithium projects that are 100% owned by NAM. AAZ’s 50% exploration expenditure earn in is $2.950 million and should they continue with their option they must issue up to 1.75 million shares of AAZ to NAM. NAM has a 2% royalty on each of eight Lithium Projects in this large underexplored pegmatite field. On July 11th,2018, NAM announced that they had exercised their option to search for Lithium and Rare Metals on the CAT4 claim. For additional information on the NAM/AAZ option/joint-venture and recent acquisitions (see the news releases dated Jan 15, 2018, May 2, 2018, May 10, 2018, June 6, 2018, June 13, 2018, July 11, 2018) or go to the investors presentation on www.newagemetals.com

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 Mineral Resources of 160 million tonnes @ 0.44 g/t Palladium, 0.17 g/t Platinum, 0.03 g/t Gold, with a PdEq metal grade of 0.90 g/t at a cut-off grade of 0.4 g/t PdEq equating to 3,297,000 ounces PGM plus Gold and 4,626,000 PdEq Ounces (Table 1). This equates to 4,626,000 PdEq ounces M+I and 2,714,000 PdEq ounces in Inferred classification (see May 8th, 2018 press release). NAM is currently conducting Phase 4 of their proposed 2018 exploration and development program. The current program is based on recommendations of previous geophysical studies and reviews by the company’s consultants, recent drilling, ongoing advanced metallurgical and minerology studies and selective pit design drill programs. The results of Phase 4 will assist in early PEA work being conducted by P&E Mining Consultants Inc and is meant to contribute towards the River Valley PEA. Mr. Michael Neumann, P.Eng., a veteran mining engineer and one of NAM’s directors, will oversee the completion of the PEA.

On 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. On April 18th, 2018, NAM announced the right to purchase 100% of the Genesis PGM Project, NAM’s first Alaskan PGM acquisition related to the April 4th agreement. The Genesis PGM Project is a road accessible, under explored, highly prospective, multi-prospect drill ready Palladium (Pd)- Platinum (Pt)- Nickel (Ni)- Copper (Cu) property. A comprehensive report on previous exploration and future phases of work is slated for completion by early August 2018 on Genesis. This report will be completed by Avalon Development of Fairbanks Alaska.

After the Avalon report has been submitted to NAM, management will then actively seek an option/joint-venture partner for this road accessible PGM and Multiple Element Project using the Prospector Generator business model.

The results of the new Mineral Resource Estimate for NAM’s flagship River Valley PGM Project are tabulated in Table 1 below (0.4 g/t PdEq cut-off).

Class Tonnes

‘,000

Pd (g/t) Pt (g/t) Rh (g/t) Au (g/t) Cu (%) Ni (%) Co (%) PdEq (g/t)
Measured 62,877.5 0.49 0.19 0.02 0.03 0.05 0.01 0.002 0.99
Indicated 97,855.2 0.40 0.16 0.02 0.03 0.05 0.01 0.002 0.83
Meas +Ind 160,732.7 0.44 0.17 0.02 0.03 0.05 0.01 0.002 0.90
Inferred 127,662.0 0.27 0.12 0.01 0.02 0.05 0.02 0.002 0.66
Class PGM + Au (oz) PdEq (oz) PtEq (oz) AuEq (oz)
Measured 1,440,200 1,999,600 1,999,600 1,136,900
Indicated 1,856,900 2,626,700 2,626,700 1,463,800
Meas +Ind 3,297,200 4,626,300 4,626,300 2,600,700
Inferred 1,578,400 2,713,900 2,713,900 1,323,800

Notes:

  1. A.CIM definition standards were followed for the resource estimation.
  2. B.The 2018 Mineral Resource models used Ordinary Kriging grade estimation within a three-dimensional block model with mineralized zones defined by wireframed solids.
  3. C.A base cut-off grade of 0.4 g/t PdEq was used for reporting Mineral Resources.
  4. D.Palladium Equivalent (PdEq) calculated using (US$): $1,000/oz Pd, $1,000/oz Pt, $1,350/oz Au, $1750/oz Rh, $3.20/lb Cu, $5.50/lb Ni, $36/lb Co.
  5. E.Numbers may not add exactly due to rounding.
  6. F.Mineral Resources that are not Mineral Reserves do not have economic viability
  7. G. The Inferred Mineral Resource in this estimate has a lower level of confidence that that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.

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, P.Geo., 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.

New Age Metals $NAM.ca Engages P&E Mining Consultants Inc to Complete Preliminary Economic Assessment (PEA) Study on its 100% Owned River Valley Platinum Group Metals #PGM Project, Sudbury Ontario $WG.ca $XTM.ca $WM.ca $PDL.ca $GLEN $LIC.ca $LIX.ca

Posted by AGORACOM-JC at 8:53 AM on Wednesday, July 25th, 2018

New age large

  1. NAM’s Platinum Group Metals (PGM) Division, more specifically our River Valley PGM Project in Sudbury, Ontario, is the largest undeveloped primary platinum group metal project in North America. Management has director approval to advance the project towards its first economic study, a Preliminary Economic Assessment (PEA).
  2. NAM has engaged P&E Mining Consultants Inc of Toronto Ontario to lead the PEA study on the River Valley PGM Project.
  3. The objectives of the PEA are to create a mine plan, mine schedule, a capital cost estimate, and an operating cost estimate incorporated into a financial model to provide total cash flow, after-tax net present value (NPV), and after tax internal rate of return (IRR).
  4. NAM plans to initiate a 4th phase diamond drilling program (see page 2 for further details) on the newly discovered high-grade Pine Zone to contribute to early PEA work, performed by P&E Mining Consultants Inc and a second international mining consultant group selected to assist on this study.
  5. The completion of the PEA is scheduled to be completed on or before the end of the first half of 2019; Geotechnical, metallurgical, mineralogical, and cost estimation work is ongoing, all of which will assist in the completion of the PEA.
  6. 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 or click here.
  7. Our proposed Corporate Mandate is to build a series of open pits (bulk mining) over the 16 kilometres of mineralization. Initially, we will focus on the northern portion of the project and our proposed plan is to mine, crush, and concentrate on site, then ship the concentrates to Sudbury. The objective of NAM before the May 2018 NI 43-101 updated Mineral Resource Estimate was to increase the Mineral Resource in the northern portion of the project which has traditionally been higher grade (Dana North/Dana South/Lismer North) to over 1Moz of PGMs. The discovery of the new higher-grade Pine Zone has added considerably to this area. The new NI 43-101 accomplished this goal.

July 25th, 2018 / Rockport, Canada – New Age Metals Inc. (TSX.V: NAM; OTCQB: NMTLF; FSE: P7J.F). Mr. Harry Barr Chairman/CEO stated: “We are pleased to announce that we have engaged P&E Mining Consultants Inc to lead the first economic study on our River Valley PGM Project. The study is meant to evaluate the Project and complete a PEA which will be a high-level engineering and financial study. The main conclusions of the study will include key financial parameters such as after-tax Net Present Value (NPV) and after-tax Internal Rate of Return (IRR) that will evaluate the projects economic viability. NAM directors, management and technical team as well as P&E’s management team are also looking to engage a second engineering company and contract them for specialized PEA assistance focusing on developing high level processing parameters, metallurgical, and mineralogical scenarios.”

About P&E Mining Consultants Inc.

P&E Mining Consultants Inc, was established in 2004 and provides geological and mine engineering consulting reports, Mineral Resource Estimate technical reports, Preliminary Economic Assessments and Pre-Feasibility Studies. P&E are affiliated with major Toronto based consulting firms for the purposes of joint venturing on Feasibility Studies. Their experience covers over 300 technical reports, including but not limited to Platinum Group Metals (Platinum, Palladium, Gold, Rhodium) and Base Metals projects including Copper, Nickel, and Cobalt.

P&E has extensive Canadian and International experience in geological interpretation, 3D geologic modeling, NI 43-101 Technical Report writing, Mineral Resource and Mineral Reserve Estimates, property evaluations, mine design, production scheduling, operating and capital cost estimates and metallurgical engineering. P&E Mining Consultants Inc operates under Certificates of Authorization from the provinces of Ontario, Newfoundland and Saskatchewan. Associates are also licenced in the provinces of British Columbia, Quebec, NWT/Nunavut and New Brunswick.

2018 Drill Program Slated for Late Summer/Fall

NAM plans to initiate a diamond drilling program on the newly discovered high-grade Pine Zone to contribute to early PEA work that will be performed by P&E. P&E will use all previous NI 43-101 compliant Mineral Resource data, the 2018 Abitibi Geophysical report, the reinterpretation of Abitibi Geophysical reports by Alan King, P.Geo our Sudbury Geophysical consultant as well as the 2018 Summer/Fall drilling Results to determine a target mine size for the potential starter open pits in the northern 16 kilometres of mineralization. From this target size, P&E will be able to generate early and advanced mine production scenarios including a mine production schedule. The PEA is scheduled to be completed on or before the end of the first half of 2019.

Additional Northern Portion Footwall PGM Targets

(Pine Zone and other new drill targets)


Click Image To View Full Size

Figure 1: Induced Polarization (IP) chargeability results which show potential drill targets from the 2018 Alan King Geophysical report on the northern portion of the project.

Pine Zone: the most advanced of 9 priority structural PGM targets based on geophysics in the northern portion of the River Valley deposit: open to the east along strike. Target T3: large overlapping geological & surface IP chargeability anomaly in footwall to Dana North Zone; possible down-dip continuation of Pine Zone. Target T9: surface IP chargeability anomaly in footwall to Lismer Zone. Targets T4-T8: drill target modelling in progress. Plus, extensive IP chargeability anomaly in footwall to Banshee Zone and to the south at River Valley Extension (RVX)


Click Image To View Full Size

Figure 2: Zone map of the River Valley PGM Deposit: The Yellow Band in Figure 2 represents the footwall potential area of the River Valley Deposit. Over time NAM’s technical team would like to complete an extensive geophysical program from the top of the 16 km in the most northern zones to its most southernly areas that now are known as the River Valley Extension. The objective of a 16 km program would be to outline other Pine Zone type deposits. The 2018 Abitibi geophysical program and Alan King’s reinterpretation of that report have defined several new targets in the northern portion of the project. See Figure 1, page 3 of this release for more related information.

ABOUT NAM’S LITHIUM DIVISION

The summer exploration plan has begun for the company’s Lithium Division. NAM has 100% ownership of eight pegmatite hosted Lithium Projects in the Winnipeg River Pegmatite Field, located in SE Manitoba, with focus on Lithium bearing pegmatites. 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 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 for Lithium and Rare Metal projects in the Winnipeg River Pegmatite Field.

Lithium Canada Development is a 100% owned subsidiary of New Age Metals (NAM) who presently has an agreement with Azincourt Energy Corporation (AAZ) whereby AAZ will now expend a minimum of $600,000 in 2018. In its initial earn in AAZ may earn up to 50%, of the eight Lithium projects that are 100% owned by NAM. AAZ’s 50% exploration expenditure earn in is $2.950 million and should they continue with their option they must issue up to 1.75 million shares of AAZ to NAM. NAM has a 2% royalty on each of eight Lithium Projects in this large underdeveloped pegmatite field and receives a consulting fee as the field manager of the project. In early June (June 14th, 2018) the option/joint-venture has begun their field exploration program. On July 11th,2018, NAM announced that they had exercised their option to search for Lithium and Rare Earths on the CAT4 claim. For additional information on the NAM/AAZ option/joint-venture and recent acquisitions (see the news releases dated Jan 15, 2018, May 2, 2018, May 10, 2018, June 6, 2018, June 13, 2018, July 11, 2018) or go to the investors presentation on newagemetals.com.

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 Mineral Resources of 160 million tonnes @ 0.44 g/t Palladium, 0.17 g/t Platinum, 0.03 g/t Gold, with a PdEq metal grade of 0.90 g/t at a cut-off grade of 0.4 g/t PdEq equating to 3,297,000 ounces PGM plus Gold and 4,626,000 PdEq Ounces (Table 1). This equates to 4,626,250 PdEq ounces M+I and 2,714,000 PdEq ounces in Inferred (see May 8th, 2018 press release). NAM is currently conducting Phase 4 of their proposed 2018 exploration and development program. The current program is based on recommendations of previous geophysical studies and reviews by the company’s consultants, recent drilling, ongoing advanced metallurgical and minerology studies and selective pit design drill programs. The results of Phase 4 will assist in early PEA work being conducted by P&E Mining Consultants Inc and is meant to contribute towards the River Valley PEA. Mr. Michael Neumann, P.Eng., a veteran mining engineer and one of NAM’s directors, will oversee the completion of the PEA.

On 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. On April 18th, 2018, NAM announced the right to purchase 100% of the Genesis PGM Project, NAM’s first Alaskan PGM acquisition related to the April 4th agreement. The Genesis PGM Project is a road accessible, under explored, highly prospective, multi-prospect drill ready Palladium (Pd)- Platinum (Pt)- Nickel (Ni)- Copper (Cu) property. A comprehensive report on previous exploration and future phases of work is slated for completion by early August 2018 on Genesis. This report will be completed by Avalon Development of Fairbanks Alaska.

After the Avalon report has been submitted to NAM, management will then actively seek an option/joint-venture partner for this road accessible PGM and Multiple Element Project using the Prospector Generator business model.

The results of the updated Mineral Resource Estimate for NAM’s flagship River Valley PGM Project are tabulated in Table 1 below (0.4 g/t PdEq cut-off).

Class Tonnes

‘,000

Pd (g/t) Pt (g/t) Rh (g/t) Au (g/t) Cu (%) Ni (%) Co (%) PdEq (g/t)
Measured 62,877.5 0.49 0.19 0.02 0.03 0.05 0.01 0.002 0.99
Indicated 97,855.2 0.40 0.16 0.02 0.03 0.05 0.01 0.002 0.83
Meas +Ind 160,732.7 0.44 0.17 0.02 0.03 0.05 0.01 0.002 0.90
Inferred 127,662.0 0.27 0.12 0.01 0.02 0.05 0.02 0.002 0.66
Class PGM + Au (oz) PdEq (oz) PtEq (oz) AuEq (oz)
Measured 1,440,200 1,999,600 1,999,600 1,136,900
Indicated 1,856,900 2,626,700 2,626,700 1,463,800
Meas +Ind 3,297,200 4,626,300 4,626,300 2,600,700
Inferred 1,578,400 2,713,900 2,713,900 1,323,800

Notes:

  1. A.CIM definition standards were followed for the resource estimation.
  2. B.The 2018 Mineral Resource models used Ordinary Kriging grade estimation within a three-dimensional block model with mineralized zones defined by wireframed solids.
  3. C.A base cut-off grade of 0.4 g/t PdEq was used for reporting Mineral Resources.
  4. D.Palladium Equivalent (PdEq) calculated using (US$): $1,000/oz Pd, $1,000/oz Pt, $1,350/oz Au, $1750/oz Rh, $3.20/lb Cu, $5.50/lb Ni, $36/lb Co.
  5. E.Numbers may not add exactly due to rounding.
  6. F.Mineral Resources that are not Mineral Reserves do not have economic viability.
  7. G. The Inferred Mineral Resource in this estimate has a lower level of confidence that that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.

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, P.Geo., 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.

New Age Metals $NAM.ca 2018 Abitibi IP Geophysics Report Completed, Exploration Program Initiated $WG.ca $XTM.ca $WM.ca $PDL.ca $GLEN

Posted by AGORACOM-JC at 10:33 AM on Wednesday, June 13th, 2018

New age large

River Valley Platinum Group Metals Project, Sudbury Ontario

  1. 1.New Age Metals (NAM) flagship project is the River Valley Project, which is the largest undeveloped primary PGM resource in North America, with 4.6 Moz PdEq in Measured Plus Indicated including an additional 2.6 Moz PdEq in Inferred. The River Valley PGM Project is located in Ontario and has an excellent infrastructure and is within 100 kilometers of the Sudbury Metallurgical Complex. The project is 100% owned by New Age Metals (see news releases dated March 21st, 2018 and April 11th, 2018).
  2. 2.Ground IP geophysics final report completed by Abitibi Geophysics. NAM’s Management is working with Alan King, NAM’s Sudbury Geophysical consultant, to review all geophysics and complete a separate more comprehensive report and recommendations.
  3. 3.The goal of the geophysical survey was to test various new footwall targets on the main River Valley PGM Deposit, southward of the 2016/2017 new discovery, the Pine Zone (See News Release: Jun 19th, 2017) to cover the area between target anomalies T4 through to T9 (Figure 1) which is in the northern portion of the 16km project.
  4. 4.Field crews have mobilized to begin surface exploration on the project, more specifically to complete further detailed testing of the new geophysical anomalies from the Abitibi report and to collect further samples that will be used for additional ongoing metallurgical and mineralogical testing, all of which will add to the information needed to complete a Preliminary Economic Assessment (PEA).
  5. 5. The footwall PGM mineralization is new and the Pine Zone discovery has proven that it is both adjoining and adjacent to the existing mineralization and is an additional source of PGMs at the River Valley project. Several new large anomalies have been identified in the northern portion of the project and will be ground proofed in the summer and fall of 2018.
  6. 6.NAM’s management is working on finalizing its selection of an experienced PGM engineering company who will help NAM’s technical team to complete this projects first Economic study, a Preliminary Economic Assessment (PEA), on NAM’s 100% owned River Valley PGM Project.
  7. 7.NAM’s Lithium Division has a minimum commitment of $600,000 of exploration, leading to late summer/fall drill programs on NAM’s eight Lithium Project in Southeast Manitoba (see news release June 6th, 2018), which is financed by NAM’s option/joint-venture partner Azincourt Energy Corp. (TSX.V:AAZ)

June 13th, 2018 / TheNewswire / Rockport, Ontario, Canada – New Age Metals Inc. (TSX.V: NAM; OTCQB: PAWEF; FSE: P7J.F) is pleased to announce that the Abitibi geophysical report for the River Valley Project is complete. All past and present geophysical reports are being reviewed by Alan King, the company’s Sudbury based Geophysical Consultant, and Mr. King’s objective is to work with NAM’s technical team to recommend a two phase drill program for the Northern portion of the River Valley Project based on several large new anomalies which appear to be adjacent to our existing mineralization.

The anomalies will be examined in 2018 in the field and if warranted, added to the two phase drill programs. Alan King’s report will include specific recommendations for drilling in the northern portion of the River Valley Project.

The ground geophysical survey performed was a high-resolution OreVision(R) IP survey performed by Abitibi Geophysics (Thunder Bay, Ontario). OreVision IP can reveal targets at four times the depth of conventional IP without compromising near-surface resolution. The goal of the geophysical survey was to test the footwall portion to the main River Valley PGM Deposit, southward of the Pine Zone IP survey (News Release: Jun 19th, 2017, and May 8th,2018) and to cover the area between target anomalies T4 to T9 (Figure 1). This area represents a survey strike length of approximately 2000 metres.


Click Image To View Full Size

Figure 1: Drill Hole Distribution Map in the Northern Portion of the River Valley PGM Deposit Showing Regions IP Geophysical Coverage. (Image only represents approximately 3.5 km of the overall strike length of the deposit)

An initial review of the chargeability plan map from the Abitibi report (Figure 2) shows a good correlation with the River Valley PGM Deposit at surface and the recent footwall discoveries in the Pine Zone. The mineralization zone (red unit on Figure 2, RV Mineralized Breccia Zone) has a well-defined geophysical signature (blue) on the chargeability map (Figure 2). This will be a strong exploration tool in going forward in planning new drill targets into the main zone and into the footwall. The main mineralization corresponds well and correlates with the chargeability feature. This feature extends the length of the survey and as mentioned, corresponds with the location of the surface mineralization. Figure 2 is the chargeability at the 125 meter level above sea level. A further review notes that the Pine Zone (footwall mineralization) extends perpendicular to near perpendicular from the chargeability feature. Elsewhere along the extent of the chargeability feature are other perpendicular to near perpendicular features similar to the area of the Pine Zone Figure 2 – Zones of Interest).

These anomalies will be further examined in the field as they may indicate other areas of footwall mineralization as seen at the Pine Zone.


Click Image To View Full Size

 

Figure 2: Chargeability at 125 m elevation level – Abitibi 2018 IP Survey – River Valley

Field crews will focus on the target areas above in Figure 2 to generate additional drill targets which appear to be adjacent to the existing mineralization identified in the May 8th 2018 NI-43-101 report.

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 or click here.

ABOUT NAM’S LITHIUM DIVISION

The summer/fall exploration plan has begun for the company’s Lithium Division. NAM has 100% ownership of eight pegmatite hosted Lithium Projects in the Winnipeg River Pegmatite Field, located in SE Manitoba, with focus on Lithium bearing pegmatites. 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 for Lithium and Rare Metal projects in the Winnipeg River Pegmatite Field.

Lithium Canada Development is a 100% owned subsidiary of New Age Metals (NAM) who presently has an agreement with Azincourt Energy Corporation (AAZ) whereby AAZ will now commit on its first year a minimum of $600,000 in 2018. In its initial earn in AAZ may earn up to 50%, of the eight Lithium projects that are 100% owned by NAM. AAZ’s 50% exploration expenditure earn in is approximately $2.950 million and should they continue with their option they must issue up to 1.75 million shares of AAZ to NAM. NAM has a 2% royalty on each of eight Lithium Projects in this large pegmatite field. For additional information on the NAM/AAZ option/joint-venture and recent acquisitions (see the news releases dated Jan 15, 2018, May 2, 2018, May 10, 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 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 (Table 1). This equates to 4,626,250 PdEq ounces M+I and 2,713,933 PdEq ounces in inferred (see May 8th, 2018 press release). 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. On May 23rd, 2018, NAM’s board approved a Preliminary Economic Assessment (PEA) on River Valley Platinum Group Metals Project’s. Management is currently finalizing its selection of a 3rd party engineering company to complete this PEA. This will be the first economic study on the project. 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. On April 18th, 2018, NAM announced the right to purchase 100% of the Genesis PGM Project, NAM’s first Alaskan PGM acquisition related to the April 4th agreement. The Genesis PGM Project is a road accessible, under explored, highly prospective, multi-prospect drill ready Pd-Pt-Ni-Cu property.

 

The results of the new resource estimation are tabulated in Table 1 below (0.4 PdEq cut-off).

 

Class Tonnes

‘,000

Pd (g/t) Pt (g/t) Rh (g/t) Au (g/t) Cu (%) Ni (%) Co (%) PdEq (g/t)
Total Measured 62,877.5 0.49 0.19 0.02 0.03 0.05 0.01 0.002 0.99
Total Indicated 97,855.2 0.40 0.16 0.02 0.03 0.05 0.01 0.002 0.83
Total Meas +Ind 160,732.7 0.44 0.17 0.02 0.03 0.05 0.01 0.002 0.90
Inferred 127,662.0 0.27 0.12 0.01 0.02 0.05 0.02 0.002 0.66

 

Class PGM + Au (oz) PdEq (oz) PtEq (oz) AuEq (oz)
Total Measured 1,440,248 1,999,575 1,999,575 1,136,930
Total Indicated 1,856,925 2,626,675 2,626,675 1,463,793
Total Meas +Ind 3,297,173 4,626,250 4,626,250 2,600,724
Inferred 1,578,367 2,713,933 2,713,933 1,323,809

 

Notes:

 

  1. 1.CIM definition standards were followed for the resource estimation.
  2. 2.The 2018 resource models used Ordinary Krig grade estimation within a three-dimensional block model with mineralized zones defined by wireframed solids.
  3. 3.A base cut-off grade of 0.4 % g/t PdEq was used for reporting resources.
  4. 4.Palladium Equivalent (PdEq) calculated using (US$): $1,000/oz Pd, $1,000/oz Pt, $1,350/oz Au, $1750/oz Rh, $3.20/lb Cu, $5.50/lb Ni, $36/lb Co.
  5. 5.Numbers may not add exactly due to rounding.
  6. 6.Mineral Resources that are not mineral reserves do not have economic viability
  7. 7.The quantity and grade of reported inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured mineral resource category.

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.

 

New Age Metals $NAM.ca Board Approves Preliminary Economic Assessment (PEA) River Valley Platinum Group Metals Project’s First Economic Study $WG.ca $XTM.ca $WM.ca $PDL.ca $GLEN

Posted by AGORACOM-JC at 9:47 AM on Wednesday, May 23rd, 2018

New age large

1.New Age Metal’s (NAM) board gave the authority for management to complete the River Valley Projects first economic study, a Preliminary Economic Assessment (PEA), which is slated to be completed before the end of Q1 2019

2.The PEA will evaluate the Project at a high-level engineering and financial study. The mineralization will be interrogated with pit shell designs and mining schedule. The study would incorporate the latest information provided by the exploration programs as well as the metallurgical, geotechnical studies, and the new geophysics. The objective of the PEA would be a mine plan, mine schedule, a capital cost estimate, operating cost estimate incorporated into a financial model to provide total cash flow, net present value (NPV), and internal rate of return (IRR).

3.River Valley is the largest undeveloped primary PGM resource in North America, with 4.6Moz PdEq in Measured Plus Indicated including an additional 2.7Moz PdEq in Inferred. The River Valley PGM Project has excellent infrastructure and is within 100 kilometers of the Sudbury Metallurgical Complex. The project is 100% owned by New Age Metals.

4.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 or click here.

May 23rd, 2018 / Rockport, Canada – New Age Metals Inc. (TSX.V: NAM; OTCQB: NMTLF; FSE: P7J.F) is pleased to announce that the directors of the company have approved the request, from management, that NAM would like to complete a Preliminary Economic Assessment (PEA), on the 100% owned River Valley Platinum Group Metals (PGM) Project. Located approximately 100 km from the world famous Sudbury Metallurgical Complex, the River Valley Project is the largest undeveloped primary PGM resource in Canada. View our Corporate Video here.

The PEA will evaluate the Project at a high-level engineering and financial study. The mineralization will be interrogated with pit shell designs and mining schedule. The study would incorporate the latest information provided by the exploration programs as well as the metallurgical, geotechnical studies, and the new geophysics. The objective of the PEA would be a mine plan, mine schedule, a capital cost estimate, operating cost estimate incorporated into a financial model to provide total cash flow, net present value (NPV), and internal rate of return (IRR). NAM is currently conducting negotiations with several 3rd party engineering companies and will finalize its selection by the end of June 2018. NAM’s phase 1 program outlined in the NI-43-101: Diamond Drilling, Geological and Engineering Consulting, Metallurgical Studies, Geotechnical Studies, and a LiDAR survey. The approximate cost of the phase 1 program, including the PEA, will be $980,000, according to WSP Canada, the company who completed the May 2018 NI-43-101.

WSP, who completed the May 2018 NI-43-101, recommends that additional exploration expenditures are warranted to improve the viability of the Project and advance the Project towards a Preliminary Economic Assessment (PEA). It is recommended that NAM undertake a two-stage exploration program focused on delineation and expansion drill programs that will concentrate on the open pit potential along strike and down-dip of the known resources. Each program can be carried out concurrently and independently of each other; neither is contingent on the results of the other.

River Valley 2018 Exploration & Development Objectives

  1. 1.Ground IP geophysics from T3 south to T9 completed and Alan King, NAM’s Sudbury based Senior Geophysical Consultant, will have his final recommendations (for Q2 2018)
  2. 2.Utilize the new resource estimation, geophysical studies and reports to establish further drill targets (Q1-Q3 2018)
  3. 3.Continue with drilling in the northern portion of the project (Q3-Q4 2018 & Q1 2019)
  4. 4.Explore more target areas based on recommendations of the updated 43-101 and the 2018 geophysics (Q3-Q4 2018 & Q1-Q2 2019)
  5. 5.Complete further baseline studies, geotechnical studies, a Lidar survey, and mineralogical and metallurgical studies (Q4 2018)
  6. 6.Continue to advance the River Valley PGM Project towards a Preliminary Economic Assessment (PEA) on the River Valley PGM Deposit (slated for end of Q1 2019)
  7. 7.The PEA will evaluate the Project at a high-level engineering and financial study. The mineralization will be interrogated with pit shell designs and mining schedule. The study would incorporate the latest information provided by the exploration programs as well as the metallurgical and geotechnical studies. The output of the PEA would be a mine plan, mine schedule, a capital cost estimate, operating cost estimate incorporated into a financial model to provide total cash flow, net present value (NPV), and internal rate of return (IRR).
  8. 8.Our Corporate Mandate is to build a series of open pits (bulk mining) over the 16 kilometers of mineralization. We will mine, crush, and concentrate on site, then ship the concentrates to Sudbury. The objective of NAM before the March 2018 NI-43-101 was to increase the resource in the northern portion (Pine Zone/Dana North/Dana South/Lismer North) to over 1Moz of PGMs. The new NI-43-101 accomplished this.

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 or click here.

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 (Table 1). This equates to 4,626,250 PdEq ounces M+I and 2,713,933 PdEq ounces in inferred (see May 8th, 2018 press release). 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. On April 18th, 2018, NAM announced the right to purchase 100% of the Genesis PGM Project, NAM’s first Alaskan PGM acquisition related to the April 4th agreement. The Genesis PGM Project is a road accessible, under explored, highly prospective, multi-prospect drill ready Pd-Pt-Ni-Cu property.

The results of the new resource estimation are tabulated in Table 1 below (0.4 PdEq cut-off).

Class Tonnes

‘,000

Pd (g/t) Pt (g/t) Rh (g/t) Au (g/t) Cu (%) Ni (%) Co (%) PdEq (g/t)
Total Measured 62,877.5 0.49 0.19 0.02 0.03 0.05 0.01 0.002 0.99
Total Indicated 97,855.2 0.40 0.16 0.02 0.03 0.05 0.01 0.002 0.83
Total Meas +Ind 160,732.7 0.44 0.17 0.02 0.03 0.05 0.01 0.002 0.90
Inferred 127,662.0 0.27 0.12 0.01 0.02 0.05 0.02 0.002 0.66
Class PGM + Au (oz) PdEq (oz) PtEq (oz) AuEq (oz)
Total Measured 1,440,248 1,999,575 1,999,575 1,136,930
Total Indicated 1,856,925 2,626,675 2,626,675 1,463,793
Total Meas +Ind 3,297,173 4,626,250 4,626,250 2,600,724
Inferred 1,578,367 2,713,933 2,713,933 1,323,809

Notes:

  1. 1.CIM definition standards were followed for the resource estimation.
  2. 2.The 2018 resource models used Ordinary Krig grade estimation within a three-dimensional block model with mineralized zones defined by wireframed solids.
  3. 3.A base cut-off grade of 0.4 % g/t PdEq was used for reporting resources.
  4. 4.Palladium Equivalent (PdEq) calculated using (US$): $1,000/oz Pd, $1,000/oz Pt, $1,350/oz Au, $1750/oz Rh, $3.20/lb Cu, $5.50/lb Ni, $36/lb Co.
  5. 5.Numbers may not add exactly due to rounding.
  6. 6.Mineral Resources that are not mineral reserves do not have economic viability
  7. 7.The quantity and grade of reported inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured mineral resource category.

PRIVATE PLACEMENT EXTENSION

The Company also announces that it has received approval from the TSX Venture Exchange (the “Exchange”) for an extension to complete its current non-brokered private placement financing previously announced May 7, 2018 for proceeds of up to $1,200,000. For further details on the private placement please contact Paul Poggione, Corporate Development, 1-613-659-2773, [email protected].

ABOUT NAM’S LITHIUM DIVISION

The Company has seven separately funded pegmatite hosted Lithium Projects in the Winnipeg River Pegmatite Field, located in SE Manitoba, with focus on Lithium bearing pegmatites. 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 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, Feb 22nd, 2018 and April 11th, 2018 Press Releases) whereby Azincourt will commit up to $4.35 million dollars in exploration, up to 3.5 million shares of Azincourt stock to NAM, up to $210,000 in cash, and a 2% net smelter royalty on all 7 projects. Exploration plans for 2018 are currently in progress, whereby a minimum of $600,000 will be expended this year. For complete details on the terms and conditions of the NAM/AAZ option joint venture please see the press release dated Jan 15th, 2018.

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.

FEATURE: New Age Metals $NAM.ca Canada’s Largest Undeveloped Primary PGM Resource, with M&I 4,626,250 Palladium Equivalent Ounces$WG.ca $XTM.ca $WM.ca $PDL.ca $GLEN

Posted by AGORACOM-JC at 2:20 PM on Wednesday, May 9th, 2018

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 M&I 4,626,250 Palladium Equivalent Ounces
  • 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.

WHAT YOU NEED TO KNOW

  • 100% owned River Valley Extension Project (RVE), is undergoing its first NI 43-101 resource calculation.
  • To date, River Valley has M&I 4,626,250 Palladium Equivalent Ounces
  • Excellent infrastructure and are within 100 kilometers of the Sudbury Metallurgical Complex.
  • Ground IP geophysics to test T4-T9 targets are now complete, final report slated for early April.
  • Drilling is slated for Summer/Fall 2018/Winter 2019.
  • Advanced stage mineralogical testing is ongoing in Sudbury at Expert Process Solutions (XPS).

New Age Metals $NAM.ca Announces 4,626,250 PdEq Ounces, With 2,713,933 Ounces in Inferred NI 43-101 Update River Valley Platinum Group Metal Deposit, Sudbury $WG.ca $XTM.ca $WM.ca $PDL.ca $GLEN

Posted by AGORACOM-JC at 10:10 AM on Tuesday, May 8th, 2018

New age large

  • River Valley is the largest undeveloped primary PGM resource in Canada, the March 2018 NI 43-101 has updated the 2012 resource. The River Valley PGM Project has excellent infrastructure and is within 100 kilometers of the Sudbury Metallurgical Complex. The project is 100% owned by New Age Metals.
  • 4,626,250 PdEq ounces, with 2,713,933 ounces in Inferred at a 0.4 g/t cut-off.
  • The company objective of increasing the resource beyond 1Moz in the northern portion was achieved.
  • Footwall PGM mineralization, “The Pine Zone/T3”, a new discovery and additional source of PGMs at the River Valley Project (RVP), was included in the new resource model.
  • The River Valley Extension mineralization in the south end of the deposit was added to the NI 43-101 Resource Calculation
  • The 43-101 is filed on Sedar at www.sedar.com or on the NAM website at 2018 NI 43-101.
  • Lithium Division: A minimum of $600,000 will be expended in 2018 on the companies Lithium division by New Age Metals option/joint venture partner Azincourt Energy Corp. (TSX.V: AAZ) (news release May 2nd, 2018) The 2018 budget will allow for 2 out of the 3 drill ready projects to be drilled. New Age Metals technical team is the field manager (press release dated Jan 15th, 2018).

May 8th 2018 / Rockport, Canada – New Age Metals Inc.(NAM) (TSX.V: NAM; OTCQB: NMTLF; FSE: P7J.F) The company is very pleased to announce that the NI43-101 compliant Measured and Indicated mineral resource calculation at a cut-off grade of 0.4 g.t PdEq is complete and has been posted on Sedar and the company website. The River Valley PGM Project is located 100 km from the world-class Sudbury Ni-Cu-PGM Mining Camp and has excellent infrastructure. The project is 100% owned by New Age Metals (NAM).

If you have not done so already, we encourage you to sign up on our website (www.newagemetals.com) to receive our updated news or click here.

New NI 43-101 Compliant Resource Estimation

WSP Canada, under the supervision of Todd McCracken, P. Geo (Manager-Mining at WSP Canada) has completed the new NI 43-101 compliant resource estimation of the River Valley PGM Deposit in the Sudbury Mining District of Ontario, Canada. The new resource estimation has incorporated all the past data, geophysics, new drilling since 2015 and the River Valley Extension (RVE), including the additional drilling in the new footwall discoveries Pine Zone and T3.

The results of the new resource estimation are tabulated in Table 1 below (0.4 PdEq cut-off).

Class Tonnes

‘,000

Pd (g/t) Pt (g/t) Rh (g/t) Au (g/t) Cu (%) Ni (%) Co (%) PdEq (g/t)
Total Measured 62,877.5 0.49 0.19 0.02 0.03 0.05 0.01 0.002 0.99
Total Indicated 97,855.2 0.40 0.16 0.02 0.03 0.05 0.01 0.002 0.83
Total Meas +Ind 160,732.7 0.44 0.17 0.02 0.03 0.05 0.01 0.002 0.90
Inferred 127,662.0 0.27 0.12 0.01 0.02 0.05 0.02 0.002 0.66

 

Class PGM + Au (oz) PdEq (oz) PtEq (oz) AuEq (oz)
Total Measured 1,440,248 1,999,575 1,999,575 1,136,930
Total Indicated 1,856,925 2,626,675 2,626,675 1,463,793
Total Meas +Ind 3,297,173 4,626,250 4,626,250 2,600,724
Inferred 1,578,367 2,713,933 2,713,933 1,323,809

 

Table 1: River Valley 2018 Resource Calculation (WSP Canada, Todd McCracken, P.Geo)

 

Notes:

  1. 1.CIM definition standards were followed for the resource calculation.
  2. 2.The 2018 resource models used Ordinary Krig grade estimation within a three-dimensional block model with mineralized zones defined by wireframed solids.
  3. 3.A base cut-off grade of 0.4 % g/t PdEq was used for reporting resources.
  4. 4.Palladium Equivalent (PdEq) calculated using (US$): $1,000/oz Pd, $1,000/oz Pt, $1,350/oz Au, $1750/oz Rh, $3.20/lb Cu, $5.50/lb Ni, $36/lb Co.
  5. 5.Numbers may not add exactly due to rounding.
  6. 6.Mineral Resources that are not mineral reserves do not have economic viability
  7. 7.The quantity and grade of reported inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured mineral resource category.

To date, approximately 45 million dollars has been expended by NAM and previous partners on the projects. The River Valley mineralized contact extends throughout the 16 kilometers of the project as well as the additional possibility of other footwall mineralization zones. To date footwall PGM mineralization has been identified the Pine and T3 Zone.


Click Image To View Full Size

Figure 1: River Valley Geology and Zone Map, 2018

Zone Tonnes Pd (g/t) Pt
(g/t)
Au
(g/t)
Ni
(%)
Cu
(%)
Co
(%)
Rh (g/t) PdEq (g/t)
Measured Resources
Dana 32,631,150 0.52 0.20 0.04 0.01 0.06 0.002 0.02 1.05
Pine 2,568,000 0.55 0.20 0.03 0.02 0.06 0.004 0.01 1.11
Dana S 9,433,730 0.58 0.21 0.04 0.01 0.05 0.003 0.02 1.10
Lismer 18,244,630 0.38 0.16 0.03 0.01 0.04 0.002 0.01 0.80
Lismer Ext
Varley
Razor
Banshee
Azen
River Valley Ext
TOTAL 62,877,510 0.49 0.19 0.03 0.01 0.05 0.002 0.02 0.99
Indicated Resources
Dana 2,175,700 0.53 0.22 0.02 0.02 0.06 0.0003 0.01 1.00
Pine 271,600 0.49 0.21 0.02 0.01 0.07 0.001 0.01 0.97
Dana S 13,573,600 0.51 0.18 0.03 0.01 0.04 0.003 0.02 0.97
Lismer 33,356,300 0.35 0.14 0.03 0.02 0.05 0.002 0.01 0.77
Lismer Ext 19,836,300 0.46 0.19 0.03 0.01 0.05 0.002 0.02 0.93
Varley 28,632,100 0.37 0.14 0.02 0.01 0.05 0.002 0.01 0.76
Razor
Banshee 9,600 0.26 0.16 0.03 0.00 0.03 0.01 0.55
Azen
River Valley Ext
TOTAL 97,855,200 0.40 0.16 0.03 0.01 0.05 0.002 0.02 0.83
(table continues on next page)
Measured & Indicated Resources
Dana 34,806,850 0.52 0.20 0.04 0.01 0.06 0.002 0.02 1.05
Pine 2,839,600 0.55 0.20 0.03 0.02 0.06 0.003 0.01 1.10
Dana S 23,007,330 0.54 0.19 0.03 0.01 0.04 0.003 0.02 1.02
Lismer 51,600,930 0.36 0.14 0.03 0.02 0.05 0.002 0.01 0.78
Lismer Ext 19,836,300 0.46 0.19 0.03 0.01 0.05 0.002 0.02 0.93
Varley 28,632,100 0.37 0.14 0.02 0.01 0.05 0.002 0.01 0.76
Razor
Banshee 9,600 0.26 0.16 0.03 0.00 0.03 0.01 0.55
Azen
River Valley Ext
TOTAL 160,732,710 0.44 0.17 0.03 0.01 0.05 0.002 0.02 0.90
Inferred Resources
Dana 272,000 0.56 0.21 0.00 0.01 0.05 0.02 0.94
Pine 51,000 0.37 0.21 0.00 0.00 0.04 0.00 0.66
Dana S
Lismer 2,453,000 0.22 0.10 0.02 0.01 0.04 0.002 0.01 0.54
Lismer Ext
Varley 125,000 0.20 0.11 0.03 0.02 0.05 0.002 0.01 0.58
Razor 42,744,000 0.26 0.11 0.02 0.03 0.04 0.001 0.01 0.63
Banshee 13,893,000 0.25 0.14 0.03 0.01 0.04 0.01 0.57
Azen 35,903,000 0.27 0.09 0.02 0.03 0.05 0.00 0.01 0.70
River Valley Ext 32,221,000 0.29 0.17 0.02 0.03 0.05 0.70
TOTAL 127,662,000 0.27 0.12 0.02 0.02 0.05 0.002 0.01 0.66

 

Table 2: River Valley Detailed Resource Summary (using 0.4 g/t PdEq Cutoff)

 


Click Image To View Full Size

Figure 2: Northern Portion of the River Valley PGM Deposit Showing Regions of Recent IP Geophysics and grade at a 0.4g/t cut-off. NOTE: Image only represents approximately 3.5 km of the 16 km of the overall strike length of the River Valley PGM deposit. Note: The Yellow Band represents the 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 Pine Zone/ T3 main deposit. At present the only area that has confirmed footwall mineralization is in the Pine Zone (defined from 2015 to 2017 drilling). Geophysics and exploration are in progress to test other areas of the project.

River Valley 2018 Exploration & Development Objectives

  1. 1.Ground IP geophysics from T3 south to T9 (Completed);
  2. 2.Utilize the new resource estimation to establish further drill targets (Q1-Q3 2018);
  3. 3.Continue with drilling in the northern portion of the project (slated for Q3-Q4 2018 & Q1 2019);
  4. 4.Explore more target areas based on recommendations of the updated 43-101 and the 2018 geophysics (slated for Q3-Q4 2018 & Q1-Q2 2019);
  5. 5.Complete mineralogical studies (Complete), ongoing Metallurgical studies;
  6. 6.Continue to advance the River Valley PGM Project towards a Preliminary Economic Assessment (PEA) on the River Valley PGM Deposit; and
  7. 7.Our Corporate Mandate is to build a series of open pits (bulk mining) over the 16 kilometers of mineralization. We will mine, crush, and concentrate on site, then ship the concentrates to Sudbury. The objective of NAM before the March 2018 43-101 was to increase the resource in the northern portion (Pine Zone/Dana North/Dana South/Lismer North) to over 1Moz of PGMs. The new 43-101 accomplished this.

 


Click Image To View Full Size

 

Figure 3: Zone map of the River Valley PGM Deposit Note: The Yellow Band represents the 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 Pine Zone/ T3 main deposit. At present the only area that has confirmed footwall mineralization is in the Pine Zone (defined from 2015 to 2017 drilling). Geophysics and exploration are in progress to test other areas of the deposit. Management’s specific focus is to outline a sufficient economic resource in the northern portion of the project, and then develop a series of open pits (bulk mining), crush, and concentrate on site, then ship the concentrates to Sudbury.

 

River Valley PGM Exploration Plan Going Forward

 

To date an approximate 140,659 meters (461,480 feet) in 628 drill holes have been conducted by the company as operator on the River Valley Project. Several independent NI 43-101 compliant resource calculations have previously been generated for the deposit through the exploration and development phases. In 2016, the company purchased 100% of Mustang Minerals’ southern portion of the River Valley contact (River Valley Extension, News Release – Oct 5th, 2016). This added 4 kilometers of mineralized strike length to the southern portion of the company’s main River Valley Project. The River Valley Deposit’s present resource, with approximately 4.6M PdEq ounces in Measured Plus Indicated mineral resources (0.4 g/t cut-off) and near-surface mineralization, covers over 16 kilometers of continuous strike length. The acquisition of the RVE adds an additional 4 kilometers for a total of 16 kilometers of strike. The March 2018 NI 43-101 report added a new inferred resource of PdEq (Oz) for a total of 729,658 ounces at a 0.4 g/t PdEq cut off on the River Valley Extension (RVE). The company continues to explore and enhance the River Valley PGM Deposit and is progressing towards the completion of a preliminary economic assessment, (PEA).

 

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 (see March 21st, 2018 press release). 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. On April 18th, 2018, NAM announced the right to purchase 100% of the Genesis PGM Project, NAM’s first Alaskan PGM acquisition related to the April 4th agreement. The Genesis PGM Project is a road accessible, under explored, highly prospective, multi-prospect drill ready Pd-Pt-Ni-Cu property.

 

ABOUT NAM’S LITHIUM DIVISION

 

The Company has six 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 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, Feb 22nd, 2018 and April 11th, 2018, May 2nd, 2018 Press Releases) whereby Azincourt will commit up to $4.1 million dollars in exploration, up to 3.25 million shares of Azincourt stock to NAM, up to $210,000 in cash, and a 2% net smelter royalty on all 6 projects. Exploration plans for 2018 are currently in progress, whereby a minimum of $600,000 will be expended this year. For complete details on the terms and conditions of the NAM/AAZ option joint venture please see the press release dated Jan 15th, 2018.

 

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.

The Mineral Resources for the River Valley Project disclosed in this news release have been calculated by Mr. Todd McCracken, P.Geo., an employee of WSP and independent of New Age Metals. By virtue of his education and relevant experience, Mr. McCracken is a “Qualified Person” for the purpose of National Instrument 43-101. The Mineral Resource has been classified in accordance with CIM Definition Standards for Mineral Resources and Mineral Reserves, (May 2014). Mr. McCracken, P.Geo., has read and approved the contents of this press release as it pertains to the disclosed Mineral Resource calculation.

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].

New Age Metals

Ontario Field Office: 59 Burtch’s Lane |1000 Islands, Rockport, ON, K0E 1V0 [email protected]

+1-613-659-2773 www.newagemetals.com

 

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”, “calculation”, “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/calculations 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 Signs Agreement to Acquire 100% of the Genesis #PGM Project in Alaska $WG.ca $XTM.ca $WM.ca $PDL.ca $GLEN

Posted by AGORACOM-JC at 10:46 AM on Wednesday, April 18th, 2018

New age large

  • New Age Metals (NAM) owns 100% of the River Valley Platinum Group Metals (PGM) Project, which is North America’s largest undeveloped primary PGM Project located 100 kilometers from the Sudbury Metallurgical Complex, Ontario, Canada. Primary PGM deposits are rare outside of South Africa and Russia.
  • PGM’s are a Green Metal and their demand is increasing for autocatalysis, a key component for reducing toxic emissions for automotive, gasoline and diesel engines. Fuel cell automobiles use up to one ounce of platinum per vehicle.
  • In order to add to its mineral inventory, NAM has signed an agreement to acquire 100% of a road accessible and drill ready PGM project in Alaska.
  • 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 acquire PGM projects in the State in the future. See April 4th, 2018 press release for more details and to opt-in for NAM’s press releases: Click Here.
  • Lithium Division: As field manager, NAM is currently preparing for the spring/summer exploration program where a minimum of $500,000 is to be expended in 2018 on the company’s five Lithium projects in Manitoba (see news release dated January 15th, and February 22nd, 2018). The 2018 budget will allow for 2 out of the 3 drill ready projects to be drilled.
  • These new age metals, Lithium, PGM’s and Rare Metals, have robust macro trends with surging demands and limited supply, and will fuel the demand for energy storage and other core 21st Century Technologies.
  • Lithium has an ever increasing demand for batteries in cellphones, laptops, electric cars, solar storage, wireless charging and renewable energy products.

April 18th, 2018 /  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:

  • – Drill ready PGM-Ni-Cu reef style target with 2.4 grams/ton Palladium (Pd), 2.4 grams/ton Platinum (Pt), 0.96% Nickle (Ni), and 0.58% Copper (Cu).- Reef mineralization is open to the west, east, north, and at depth- Mineralized reef identified in outcrop for 850 m along strike and a 40 m true thickness- Separate style of chromite mineralization contains Platinum Group Metals (PGM) up to 2.5 g/t Pd and 2.8 g/t Pt.- Known PGM mineralization covers a distance of 9 km across the prospect.

    – 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:

  1. 1)Cash Payments to Anglo Alaska
  • – $30,000 on the Closing Date;- $30,000 on or before the one (1) year anniversary of the Closing Date;- $30,000 on or before the two (2) year anniversary of the Closing Date; and- $30,000 on or before the three (3) year anniversary from the Closing Date;
  1. 2)Stock Payments to Anglo Alaska
  • – 200,000 Consideration Shares on the Closing Date;- 200,000 Consideration Shares on or before the one (1) year anniversary of the Closing Date;- 200,000 Consideration Shares on or before the two (2) year anniversary of the Closing Date; and- 200,000 Consideration Shares on or before the three (3) year anniversary of the Closing Date;
  1. 3)Royalty to Anglo Alaska

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:

  • – $500,000 for each one-half percentage point for a total of $1,500,000, leaving Anglo Alaska with a one-point five percent (1.5%) net smelter return production royalty in the event that NAM exercises all of its buydown rights.
  1. 4)Minimum Assessment Expenditures

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.

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 or click here.

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.

New Age Metals $NAM.ca Completes Mineralogical #PGM Report and #Lithium / #PGM Division Updates $WG.ca $XTM.ca $WM.ca $PDL.ca $GLEN

Posted by AGORACOM-JC at 8:40 AM on Wednesday, April 11th, 2018

New age large

  • First round of mineralogical test work completed at Expert Process Solutions (XPS) Sudbury, Ontario.
  • Four composite samples were created from typical grade Pine Zone, high-grade Pine Zone, typical grade Dana Zone, and high-grade Dana Zone from existing samples.
  • This program focused on both Platinum Group Metals (PGM) and base metal mineralogy, using QEMSCAN, EPMA, and LA-ICP-MS technologies to characterize the samples.
  • The overall results of this program were positive and will help advance the River Valley PGM Project towards our proposed Preliminary Economic Assessment (PEA).
  • River Valley is the largest undeveloped primary PGM resource in Canada, with 4.6 Moz PdEq in Measured Plus Indicated including an additional 2.6 Moz PdEq in Inferred. The River Valley PGM Project has excellent infrastructure and is within 100 kilometers of the Sudbury Metallurgical Complex. The project is 100% owned by New Age Metals (see news release dated March 21st, 2018).
  • Ground IP geophysics has recently been completed and tested the footwall regions of the T4 to T9 anomalies. The report is expected by end of April. Footwall PGM mineralization is a new and additional source of PGMs at the River Valley project (see Figure 1 & 2 in the body of this press release).
  • Lithium Division: As field manager, NAM is currently preparing for the spring/summer exploration program where a minimum of $500,000 is to be expended in 2018 on the company’s five Lithium projects in Manitoba (see news release dated January 15th, and February 22nd, 2018). The 2018 budget will allow for 2 out of the 3 drill ready projects to be drilled.
  • 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 acquire PGM projects in the State in the future. See April 4th, 2018 press release for more details and to opt-in for NAM’s press releases: Click Here

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:

  • – Palladium (Pd) occurs as both discrete PGM minerals (described above) and in solid solution within the crystal structure of pentlandite. Pd that occurs as solid solution within pentlandite accounts for 16% (Dana) and 21% (Pine) of the total Pd in the samples;
  • – Total Nickel (Ni) that occurs in Ni sulphide (pentlandite and trace siegenite) range from 40% (Dana) to 50% (High Grade Pine), with the remaining occurring in Fe sulphide and Mg silicates. Future flotation testing focusing on recovery of Ni sulphide has the potential to increase Pd recoveries by 2-3% over previous testing, based on Pd in solid solution alone.
  • – The main PGM minerals are Kotulskite, Pd(Bi,Te), Isomertieite, Pd11Sb2As2 and Sperrylite, PtAs2. Kotulskite is more common in the Pine Zone than in the Dana Zone whilst Isomertieite was identified in higher quantities in the Dana Zone. Based on a grind target of 75um, PGMs are well liberated: 75% in the Dana Zone and 51% in the Pine Zone with grain sizes ranging from 2um up to a maximum of 50um. Grain sizes of PGMs locked in silicate gangue range in size from 1um to 15um.
  • – Silicate mineralogy in all samples consists of actinolite, feldspar, chlorite, biotite, quartz and epidote. Pine Zone samples contain higher levels of epidote and biotite compared to the Dana Zone. Epidote, which occurs as an alteration in Sudbury ores, is often associated with Cu mineralization.

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

  1. 1.Explore more target areas based on recommendations of the updated 43-101 and the 2018 geophysics (slated for Q3-Q4 2018 & Q1-Q2 2019);
  2. 2.Complete mineralogical studies (Q2 2018).
  3. 3.Continue with drilling in the northern portion of the project (slated for Q3-Q4 2018 & Q1 2019); and
  4. 4.Continue to advance the River Valley PGM Project towards a Preliminary Economic Assessment (PEA) on the River Valley PGM Deposit.

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.

‘Deep will be the new norm’ — #Glencore $GLEN spends $1B to find new ore beneath #Sudbury $NAM.ca $PDL.ca

Posted by AGORACOM-JC at 3:08 PM on Monday, April 9th, 2018
  • Glencore is spending nearly $1 billion to mine new ore underneath Sudbury
  • “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
  • New ore is needed to feed the company’s mill and smelter and maintain the Sudbury workforce of 1,300 employees, plus 500 contractors.

First ore expected in about 4 years, with full production by 2025

Erik White · CBC News · Posted: Apr 05, 2018 4:01 AM ET

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