(TheNewswire)
-Line cutting is near completion in the footwall region of the River Valley Deposit
-Ground IP geophysics on new footwall discovery will commence January 20th to test the footwall
regions of the T4 to T9 anomalies
-Footwall PGM mineralization is a new and additional source of PGMs at the River Valley project and
it will be included in the new resource model.
-Updated NI 43-101 resource calculations with WSP Canada have commenced and will include all the new
data on the deposit and the recently acquired southern extension.
-The new resource calculation is expected to be completed in Q1-2018.
-Mineralogical testing is ongoing
-River Valley is the Largest Undeveloped Primary PGM resource in Canada, with 3.9Moz PdEq in Measured Plus Indicated including an additional 1.2Moz
PdEq in Inferred and has excellent infrastructure within 100 kilometers to the
Sudbury Metallurgical complex.
-The Price of Pallidum the prominent metal at River Valley is trading at $1,078USD
(Jan 10, 2018) near its all-time high based on limited supply and increasing demand.
Vancouver, Canada / TheNewswire / January 10, 2018 - New Age Metals Inc. (TSX.V: NAM; OTCQB: PAWEF;
FSE: P7J.F) is pleased to provide an update of exploration activity at the company’s River Valley PGM Deposit in
Ontario. Field exploration presently is concentrated on the upcoming ground IP geophysical survey. WSP Canada is currently working
on the upgraded 43-101 compliant resource calculation and mineralogical test of the different PGM grades is ongoing.
The geophysical survey will be a high-resolution OreVision® 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 is to test the footwall
portion to the main River Valley PGM Deposit, southward of the Pine Zone IP survey (News Release:
Jun 19
th
, 2017 ) and to cover the area between target anomalies T4 to T9 (Figure 1). This area represents a
survey strike length of approximately 2000 metres. The linecutting and grid is near completion and the IP crews are scheduled to
mobilize on site for January 20 th .
Upon completion of the geophysics, the company will outline a series of drill programs to test the
geophysical anomalies generated from the survey. The goal is to examine the potential for continuous PGM
mineralization into the footwall area of the main River Valley PGM Deposit.
WSP Canada (News Release:
Sept 7th, 2017 ) is progressing through the new resource calculation for the River Valley PGM Deposit under
the supervision of Todd McCracken, Manager-Mining at WSP Canada. The new resource model and
calculation will incorporate all the past data, geophysics, new drilling since 2012 and the River Valley
Extensions (previous Mustang Minerals ground).
Click Image To View Full Size
Figure 1: Drill Hole Distribution Map in the Northern Portion of the River Valley PGM Deposit
Showing Regions of Upcoming IP Geophysics.
(Image only represents approximately 3.5 km
of the overall strike length of the deposit)
In 2016, the company obtained the Mustang Minerals’ southern portion of the River Valley PGM Deposit (River
Valley Extension, News Release –
Oct 5
th
, 2016 ). This added 4 kilometres of mineralized strike length to the company’s River Valley PGM
Deposit .
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 Canada’s largest primary undeveloped PGM deposit with Measured
+ Indicated resources of 91 million tonnes @ 0.58 g/t Palladium, 0.22 g/t Platinum, 0.04 g/t Gold, with a total metal grade of 1.28
g/t at a cut-off grade of 0.8 g/t PdEq for 2,463,000 ounces PGM plus Gold. This equates to 3,942,910 PdEq
ounces. In the Northern portion of the project (Dana North), not including the new high-grade Pine Zone,
there is 24 million tonnes @ 1.58 PdEq. The River Valley PGM-Copper-Nickel Sulphide mineralized zones remains open to
expansion. The company has recently completed a drill program on the Pine and T3 Zones.
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
Recently NAM announced (News Release:
Dec 12
th
, 2017 ) a signed Letter of Intent with Azincourt Energy Corp for the Manitoba Lithium
Projects. . 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, under its subsidiary Lithium Canada
Developments, is one of the largest mineral claim holders in the Winnipeg River Pegmatite Field and is seeking JV partners to
further develop the company’s Lithium Division.
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
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 forw ard-looking statements.
Copyright (c) 2018 TheNewswire - All rights reserved.