New Energy Metals Completes Exploration Program and Discovers Pegmatites at the Roslyn Lithium Project in Ontario
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New Energy Metals Completes Exploration Program and Discovers
Pegmatites at the Roslyn Lithium Project in Ontario
Vancouver, British Columbia, December 11, 2023, New Energy Metals Corp. (TSXV: ENRG) (OTCQB:
NRGYF) (“New Energy” or the “ Company“) is pleased to announce the successful completion of its initial
exploration program and the discovery of Pegmatites at the Roslyn Lithium Project (the “Property”) in the
Georgia Lake Pegmatite field located 50 km northeast of Nipigon, Ontario. The Property comprises 12 mining
claims (254 cells) covering approximately 5,100 hectares. The Georgia Lake Pegmatite Field is being
aggressively explored and developed by Rock Tech Lithium (TSXV:RCK), Imagine Lithium (TSXV:ILI) and Ultra
Lithium (TSXV:ULT). See Figure 1.
Work Program Highlights
• While assay results are still pending, preliminary LIBS testing conducted on the Property revealed
anomalous lithium values in the range of 100 to 15,600 parts per million (ppm) Li (1.56% Li or 3.35%
Li2O) in the majority of the 36 samples tested. Following the initial LIBS SCANS, 23 samples were
selected for assays at an independent certified laboratory.
• Handheld laser-induced breakdown spectroscopy (LIBS) was employed, a cutting-edge technology
that has emerged as a valuable tool for immediate geochemical analysis during initial scanning,
aiding in the selection of interesting samples for laboratory analysis. The LIBS device is capable of
on-site measurement of lithium content in minerals, rocks, soils, and brines.
• Due to extensive moss coverage and dense vegetation on the rocks, a drone was employed during
the fieldwork to identify potential pegmatite outcrops and other geologically promising rock
formations.
• The pegmatite formations consist of quartz, white feldspar and pink k -feldspar, muscovite, some
yellowish-green muscovite flakes approximately 1 cm in size, amphibole, some biotite, and a few
traces of garnet in certain locations.
• Several pegmatites were mapped and sampled during the fieldwork. These pegmatite formations
exhibited varying thicknesses, ranging from a few centimeters to 5 meters, and were found within
diverse geological formations, including metasedimary, granodiorite and granite lithologies.
• The Property is underlain by muscovite bearing granites, felsic intrusives, mafic metavolcanics, and
metasedimentary rocks which are trending east west.
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Figure 1. Rare-element and lithium pegmatite occurrences of the Georgia Lake Pegmatite Field.
Source OGS
Sample 599619 with consistently high values of Lithium on LIBS (193.2 ppm to 8323 ppm Li)
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Pegmatite outcrop of Sample 599619
Pegmatite outcrop of Sample 599617 with LIBS lithium values of 202 ppm to 9,150 ppm
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Pegmatite outcrop of Sample 599614 with LIBS lithium values of 192 ppm to 1.56% Li
Roslyn Lithium Property
The Georgia Lake Pegmatite Field represents the largest concentration of rare -element mineralization in
northwestern Ontario. The 32×105 km field hosts 38 rare-element occurrences and 10 spodumene pegmatite
deposits (Breaks et al., 2008). Breaks et al, 2008 discovered 19 additional rare -element occurrences and
recommended additional exploration proximal to the fertile Glacier Lake Ba tholith bodies in contact with
metasediments (Figure 2). The Roslyn property is located on the eastern side of the Georgia Lake Pegmatite
Field.
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Figure 2. Location of the Roslyn Lithium Property along the Glacier Lake Batholith. Source Breaks et al.,
2008.
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The Property is hosted by a muscovite -bearing granite, an S -type peraluminous fertile parental granite
according to Breaks et al., 2003 and in contact with metasediments which make excellent hosts for
pegmatites. Numerous faults transect the Property providing excellent pathways for granitic melts and
evolving pegmatites (Figure 3). Several white pegmatites with garnet and tourmaline have been documented
and mapped on the Property by the OGS in 1970 (Ontario Department of Mines map M2293). These are very
good indications of fertile granitic melts.
Figure 3. Regional geology of the Roslyn Lithium Property. Source OGS
Rishi Kwatra, CEO of New Energy states, “I am thrilled to announce the successful completion of our
exploration program and initial results at Roslyn in Ontario. This achievement is a step towards our
unwavering commitment to pioneering advancements in the mining industry. We remain dedicated
to responsible resource development and look forward to the next stages of this exploration and
will continue to innovate and contribute to a more sustainable future."
Qualified Person
The scientific and technical information contained in this news release ha ve been reviewed and
approved by Afzaal Pirzada, PGeo., a Qualified Person (“QP”) as defined by National Instrument 43-
101 – Standards of Disclosure for Mineral Projects . The QP and the Company have not completed
sufficient work to verify the historical information on the Roslyn Lithium Property, particularly
regarding historical exploration, neighboring companies, and government geological work. The
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mineralization reported on the other properties is not necessarily indicative of the mineralization
on the Roslyn Property.
References and Disclosures
Breaks, F.W., Selway, J.B. and Tindle, A.G. 2003. Fertile peraluminous granites and related rare
element mineralization in pegmatites, Superior Province, northwest and northeast Ontario:
Operation Treasure Hunt; Ontario Geological Survey, Open File Report 6099, 179p.
Breaks, F.W., Selway, J.B. and Tindle, A.G. 2008. The Georgia Lake rare-element pegmatite field and
related S -type, peraluminous granites, Quetico Subprovince, north- central Ontario; Ontario
Geological Survey, Open File Report 6199, 176p.
On behalf of the Board of Directors,
New Energy Metals Corp.
Rishi Kwatra
CEO & Director
#610 – 700 West Pender Street
Vancouver, BC V6C 1G8 Canada
Tel: 604-669-9788
www.new-enrg.com
About New Energy Metals Corp.
New Energy is a Canadian -based resource company listed on the TSX Venture Exchange under the
symbol ENRG.
The Company has an option to purchase a 100% interest in the Atikokan lithium Project which
comprises 3,788 hectares and is located approximately 12 km east of Atikokan, Ontario. The claims
straddle the contact between a peraluminous S-type muscovite-bearing granite and metasediments
within the Quetico subprovince. The Quetico-Marmion subprovincial boundary lies just 4 km north
of the Property.
The Company also has an option to purchase a 100-percent interest in the Roslyn lithium property,
covering 5,100 hectares located 25 kilometers southeast of the Georgia Lake pegmatite field and 35
kilometers southeast of where Rock Tech Lithium just published a preliminary economic assessment
supporting the indicated mineral resource of 10.6 Mt (million tons) grading 0.88 percent lithium
oxide and an inferred mineral resource of 4.2 Mt grading 1.0 percent Li2O.
The Company also has an option to purchase a 100 -percent interest in the Troitsa copper property
covering approximately 7,000 hectares located in the Omineca mining division of British Columbia.
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Cautionary Statement on Forward Looking Information
This news release contains forward-looking statements and forward-looking information within the
meaning of Canadian securities laws (collectively, “forward- looking statements”). Forward-looking
statements in this news release relate to, among other things: statements with respect to anticipated
exploration program results from exploration activities, the anticipated business plans and timing of
future activities of the Company and all other statements that are not historical facts, particularly
statements that express, or involve discussions as to, expectations, beliefs, plans, objectives,
assumptions or future events or performance of the Company. Often, but not always, forward
looking statements can be identified through the use of words or phrases such as “will likely result”,
“are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”,
“intends”, “plans”, “forecast”, “projection”, “s trategy”, “objective” and “outlook”. Forward-looking
statements contained in this news release are made based on reasonable estimates and assumptions
made by management of the Company at the relevant time in light of its experience and perception
of historical trends, current conditions and expected future developments, as well as ot her factors
that are believed to be appropriate and reasonable in the circumstances. Forward- looking
statements contained in this news release are made as of the date of this news release and the
Company will not update any such forward- looking statements as a result of new information or if
management’s beliefs, estimates, assumptions or opinions change, except as required by law. There
can be no assurance that forward-looking statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements. Accordingly, the
reader is cautioned not to place undue reliance on forward-looking statements.
Forward-looking statements involve known and unknown risks, uncertainties and other factors,
many of which are beyond the Company’s control, which could cause actual results, performance,
achievements and events to differ materially from those that are dis closed in or implied by such
forward-looking statements. Such risks and uncertainties include, among others, operating and
technical difficulties in connection with mineral exploration and development activities, actual
results of exploration activities, including on the Property, the estimation or realization of mineral
reserves and mineral resources, the fact that the Company’s interest in the Property is an option only
and there is no guarantee that such interest, if earned, will be certain, capital expe nditures,
requirements for additional capital, future prices of lithium, changes in general economic conditions,
changes in the financial markets and in the demand and market price for commodities, delays in
obtaining governmental approvals, permits or financing, title disputes, the inability of the Company
to obtain any necessary permits, consents, approvals or authorizations, including approval by the
TSX Venture Exchange required for the acquisition of the Properties, the timing and possible outcome
of any pending litigation, environmental issues and liabilities, and all other risks and uncertainties
disclosed in the Company’s publicly filed documents under the Company’s profile on SEDAR at
www.sedarplus.ca. The Company cautions that the list of risk factors and uncertainties described in
its publicly filed documents on SEDAR is not exhaustive and other factors could materially affect its
results. New factors emerge from time to time, and it is not possible for the Company to consider all
of them, or assess the impact of each such factor or the extent to which any factor, or combination
of factors, may cause results to differ materially from those contained in any forward- looking