New Energy Metals Corp. Announces Results of Vip/MT Survey at Exploradora North Porphyry Copper-GOLD Prospect, Chile; 25+ Square Kilometer High Chargeability Anomaly Trending to Codelco Boundary ON the South
#2300 – 1177 West Hastings Street, Vancouver, BC, Canada, V6E 2K3
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NEW ENERGY METALS CORP. ANNOUNCES RESULTS OF
VIP/MT SURVEY AT EXPLORADORA NORTH
PORPHYRY COPPER-GOLD PROSPECT, CHILE; 25+ SQUARE KILOMETER
HIGH CHARGEABILITY ANOMALY TRENDING TO
CODELCO BOUNDARY ON THE SOUTH
NR19-11 August 19, 2019
Vancouver, B.C. – New Energy Metals Corp. ("New Energy Metals" or the "Company")
(TSX.V:ENRG) (OTC:NEMCF) is pleased to announce results from the initial 3D Vector Induced
Polarization (“VIP”) and Magneto -Telluric (“MT”) geophysical su rvey carried out on the
Exploradora North porphyry coppe r-gold prospect (“Exploradora N orth” or the “Property”)
(Figure 1) along the West Fissure branch of the regional Domeyko Fault system, northern Chile.
Exploradora North covers approx imately 85,000 hectares and is d irectly north of the on-going
deep drilling at CODELCO’s Exploradora project, which previousl y reported near surface drill
results of 100 metres grading 0.3% copper and 0.2 g/t gold (Soc iety of Economist Geologists,
Special Publication 11, 2004, pages 97-111) (Figure 2). New Energy holds an option over the lands
of Exploradora North with the e xpressed purpose of discovering and delineating potentially near
surface and deep porphyry copper-gold and skarn mineralization. Due to the depth of potential
deposits (below 600 meters) and the presence of post-mineral co ver, deep-seeking geophysical
methods have been utilized in the first phase of exploration at Exploradora North. Previous drilling
on Exploradora North has not bee n c a r r i e d o u t b e l o w a d e p t h o f 600 meters, which is the
approximate depth to the top of mineralization at CODELCO’s El Salvador copper mine, 70
kilometers to the south. The El Salvador Mine had an original r esource of approximately 300 Mt
of 1.5% copper that started underground mining production in 1959 and is currently in operation.
New Energy has defined a number of prospects on the southern bo rder of Exploradora North as
shown in Figure 3, including the Chorreado prospect, a porphyry-type exposure with more than 25
square kilometres of intensely leached intrusions and breccias and limonite, which is indicative of
leaching of chalcocite, and copper-bearing skarns.
Cautionary Note Regarding Adjacent Properties - CODELCO's underground El Salvador mine is
an adjacent property, which the Company has no interest in or r ight to acquire. Mineral deposits
on adjacent or similar properties, and any production therefore or economics with respect thereto,
are not in any way indicative of mineral deposits on New Energy Metals' properties or the potential
production from or cost or economics of, any future mining of any of New Energy Metals' mineral
properties.
Southernrock Geophysics (“Southernrock”) completed VIP and MT s urveys over approximately
150 stations at Exploradora North on a one kilometre per statio n grid with the objective of
characterizing the chargeability and resistivity parameters tha t might be associated with buried
sulphide mineralization in the area (Figures 4 & 5).
New Energy Metals Corp.
NR19-11 Continued 2 August 14, 2019
Results of the VIP survey have identified and broadly delineate d an extensive and deep
(approximately 5 km by 5 km area, at a depth of at least 750 m) zone of anomalously elevated IP-
response (chargeability) characteristic of the presence of sulphide mineralization (Figure 6). A 3D
IP-Resistivity model created by Southernrock (Figure 7), shows the potential for sulphide
mineralization is predicted below 750 meters and has not been drill tested to date. However, skarn
and contact-type copper has been viewed in surface trenching in the southeast area of this new
defined anomaly. The complete report with all the survey detail s is located on the Company’s
website (https://www.newenergymetals.ca/). The principal anomal ous zone is open to the south
toward the adjoining CODELCO Exploradora project, currently being drilled by CODELCO near
the border. The information collected to date suggests a potent ial for continuous sulphide
mineralization onto the adjacent CODELCO ground, as well as to the north within the 40+
kilometers north-south length of the Exploradora North property.
Results of the MR survey show a zone of moderate-to-low resistivity, broadly coincident with the
lateral extent of the main zone of the IP anomaly such that thi s is flanked by zones of high
resistivity. Within this zone of moderate-to-low resistivity there is a south-north trending core zone
of low resistivity roughly coincident with the central portion of the main IP anomaly. The central
portion of this core zone may be partially ringed by overlying- flanking zones of particularly high
IP response. High resistivity is often interpreted as a combina tion of disseminated sulphides and
abundant quartz veining, or barren intrusions and fault zones.
Part of the deep low resistivity response in this area could re present the core of a system of
mineralization with the higher IP responses flanking and overly ing it, representing relative
increases in pyrite content with respect to other metallic sulp hide minerals. Furthermore, such an
extensive anomaly may harbour more than one target and/or targe t types (both porphyry copper-
molybdenum-gold and skarn mineralization) that will be determined from drilling.
Exploradora North exhibits excellent targets, both geologically and geophysically, for discovering
and delineating a porphyry copper-gold deposit in an emerging n ew district in Chile. The large
land holdings are all within and along 40 kilometers of the pro ductive West Fissure fault zone
between BHP’s Escondida mine to the north and CODELCO’s El Salv ador mine to the south.
Ground Magnetics are currently bei ng carried out by Southernroc k on the same area and a full
integrated report will be available in the next several weeks.
New Energy Metals Corp.
NR19-11 Continued 3 August 14, 2019
Figure 1. Location Map Exploradora District
New Energy Metals Corp.
NR19-11 Continued 4 August 14, 2019
Figure 2. New Energy Metals Holdings at Exploradora North
New Energy Metals Corp.
NR19-11 Continued 5 August 14, 2019
Figure 3. Potential Drill Targets on Exploradora North Project of New Energy Metals
New Energy Metals Corp.
NR19-11 Continued 6 August 14, 2019
Figure 4. Geology and Area of Geophysical Coverage in Southern Part of Exploradora North
Property (south of dashed red line)
New Energy Metals Corp.
NR19-11 Continued 7 August 14, 2019
Figure 5. Codelco/New Energy Metals (NEM) Border Area with Loca tion of VIP/MT survey
points and the Chorreado Prospect
New Energy Metals Corp.
NR19-11 Continued 8 August 14, 2019
Figure 6. 750 meter Plan View Depth Slice of 3D Vector IP/Resi stivity High Chargeability at
Chorreado, Exploradora North