(TheNewswire)
September 20, 2021 – TheNewswire - Rockport, Ontario - New Age Metals Inc. (TSXV:NAM); (OTC:NMTLF); (FSE:P7J.F) (“NAM” or “the Company”) is pleased to update our shareholders and interested parties about the Company’s 2021 exploration program at its 100% owned Genesis PGM-Cu-Ni Project. The project is located in southeast Alaska, about 65 km south of the community of Glenallen and about 265 km east of Anchorage.
Highlights of the Genesis project are listed below:
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- The Genesis PGM-Cu-Ni Project is 100% owned by New Age Metals.
- The project is located within 3 km of the all-season paved Richardson highway and a high-capacity electric power line.
- The Genesis property comprises 4,144 hectares of State of Alaska mining claims.
- Two separate settings of magmatic reef-style mineralization occur: chromate-hosted Platinum Group Metals (PGM) returning up to 2.4 g/t palladium (Pd) and 2.4 g/t platinum (Pt); and nickel-copper (Ni-Cu)-bearing sulphide mineralization with values up to 0.96% Ni and 0.58% Cu.
- Reef-style cumulate mineralization is open to the west, east, north and at depth.
- Reef-style mineralization has been identified in outcrop for 2,000 metres along strike, with a 40-metre true thickness.
- Known PGM mineralization covers a distance of 9 km across the prospect. The target areas have never been drilled.
- The 2018 NI 43-101 Technical Report is available on SEDAR.
Genesis 2021 Exploration Program
In August, the Company engaged Aurora Geosciences Ltd. of Whitehorse, Yukon, to complete a surface rock, soil and stream sediment geochemical sampling and geological mapping program at the Bernard Mountain and Sheep Hill areas of the Genesis Project. Rock grab samples were collected and small soil sample pits were dug to assess soil profiles at target areas outlined from previous work. A subsequent phase of similar geochemical sampling and mapping was initiated in early September. The estimated expenditure for both phases of work is US$100,000. Results from the program are expected in Q4-2021.
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NAM’s 100% owned road accessible Genesis PGM-Cu-Ni Project, Alaska
About NAM
New Age Metals is a junior mineral exploration and development company focused on the discovery, exploration and development of green metal projects in North America. The Company has two divisions; a Platinum Group Metals (PGM) division and a Lithium/Rare Element division.
The PGM Division includes the 100% owned, multi-million-ounce, district scale River Valley Project, one of North America’s largest undeveloped Platinum Group Metals projects, situated 100 km northeast from Sudbury, Ontario. The Company completed a positive Preliminary Economic Assessment on the Project in 2019, and is fully financed to complete a Pre-Feasibility Study on the Project. A technical report is slated to be published by the end of the first half of 2022. In addition to River Valley, the Company is the 100% owner of the Genesis PGM-Cu-Ni Project.
The Lithium Division is one of the largest mineral claim holders in the Winnipeg River Pegmatite Field, where the Company is exploring for hard-rock lithium and various rare elements, such as tantalum and rubidium. 2021 plans include drone-supported geophysics on at least five of the Company’s seven projects, and a maiden diamond drill program on the Company’s Lithium Two Project.
Our philosophy is to be a project generator with the objective of optioning our projects to major and junior mining companies to potentially develop them through to production. The Company is actively seeking an option/ joint venture partner for its road-accessible Genesis PGM-Cu-Ni Project in Alaska.
Investors are invited to visit the New Age Metals website at www.newagemetals.com where they can review the company and its corporate activities. Any questions or comments can be directed to info@newagemetals.com or Harry Barr at Hbarr@newagemetals.comor Cody Hunt at Codyh@newagemetals.comor call 613 659 2773.
Qualified Person
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for New Age Metal’s Alaskan exploration projects, and has reviewed and approved the technical information in this release.
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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 forward-looking statements.
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