New Age Metals Inc. (
TSX: V.NAM,
OTCQB: PAWED,
Forum) today announced an update on operations with its lithium division, the wholly-owned subsidiary, Lithium Canada Development Inc. The five properties of Lithium Canada are located in southeastern Manitoba, in the Winnipeg River-Cat Lake Pegmatite Field.
The pegmatite field is already host to the world-class Tanco Pegmatite. Pegmatite at the Tanco Mine has been extracted continuously since 1969, in the form of spodumene, tantalum, beryllium, rubidium, and cesium. That project is presently owned by Cabot Corporation. No NI 43-101 resource estimate exists on Tanco, however historical academic reports suggest that the pegmatite field measures 1,520 meters long, 1,060 meters wide, and reaching a thickness of approximately 100 meters. Volume is estimated at 21,850,000 m
3, with a mass of 57,430,000 tonnes. Further information can be found
here.
The Company was recently in the news when it
outlined its 2017 exploration program.
FULL DISCLOSURE: New Age Metals is a paid client of Stockhouse Publishing.