New Energy Metals Reports Encouraging Results from Troitsa Copper Project
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New Energy Metals Reports Encouraging Results from Troitsa Copper Project
Vancouver, British Columbia, May 18, 2023 ( Globe Newswi re) New Energy Metals Corp. (TSXV:
ENRG) (OTCPink: NRGYF) (“New Energy” or the “ Company “) is pleased to announce pos itive results from
its 2022 exploration program on the Troitsa Copper Project (“Troitsa” or the “Project”). The program, which
included extensive geological mapping and sampling, confirmed historic channel and drill intercepts
defining the Main Zone, with 26 samples averaging 0.61% copper.
Troitsa is located 30 kilometers south of the advanced -stage Berg porphyry copper deposit, and 15
kilometers southwest of the Huckleberry past -producing porphyry copper-moly deposit and the nearby Ox
and Seel developed po rphyry copper prospects (Fig. 1). Troitsa is a promising copper porphyry exploration
project which has had significant potential for future development confirmed by our latest exploration
program, which focused on finding extensions to the Main Zone (Fig. 2) where the most continuous high -
grade copper mineralization was discovered.
Highlights:
1. New Main Zone sampling averages 0.61% Cu and 909 ppm Mo in 26 samples in and around a
porphyry dyke.
2. The Trogold showing may be an extension of Main Zone geology ov er 2 ki lometers to the
southeast where disseminated chalcopyrite was discovered in porphyry dykes (e.g., 0.15% Cu and
0.87% Cu) at the centre of a zone of sulphide veinlets in the stock (0.57% Cu, 0.76% Cu).
3. Gold mineralization is confirmed at Trogold in two samples (6.5 g/t Au and 2.9 g/t Au).
4. Peripheral-zone porphyry Pb-Zn mineralization confirmed at Astiort, Tro and Troitsa Easter.
"We are excited to report these positive results from our 2022 exploration program on the Troitsa Copper
Project,” said Rishi Kwatra, CEO. “The Main Zone has consistently shown high- grade copper mineralization,
and these latest results are a testament to the significant potential of this Project."
The average copper grade of 0.61% in 26 out of 31 samples (capped at 1.4% Cu) t aken from the Main Zone
in the 2022 p rogram is consistent with previous exploration programs and indicates the presence of
significant copper mineralization in the area.
New Energy is now planning further exploration and development work on the Project, with the aim of
expanding the Main Zone mineralization.
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Main Zone
The prominent feature of the Main Zone (Fig. 3) is a 20-meter wide, biotite-feldspar porphyritic granite dyke
in which biotite has been pervasively replaced by chal copyrite. Fracture -controlled quartz- chalcopyrite-
pyrite ve inlets, oriented parallel to the track of the dyke, occur both in the dyke and proximally in the
granodiorite of the Troitsa stock. Historically, a 121 meter series of channel samples (Callinex, 2 010)
averaged 0.28% Cu, and was corroborated by long drill intercepts of copper mineralization (Fig. 3) in 7 holes
over a 600 meter strike length.
In the 2022 exploration program, thirty -one mineralized samples were taken from the creek outcrops
channel sampled by Callinex along with three whole rock samples and three QP check samples. The 0.61%
average copper grade is from 26 out of 31 samples taken at the Main Zone, which excluded 5 high -grade
veins above 1.4% Cu (assays: 29.2%, 15.8%, 7.4%, 4.3%, and 2.7% Cu). Molybdenum is also significant and
averages 909 ppm Mo in the same 26 samples, some of which had very high -grade Mo, or 215 ppm Mo in
29 of 31 samples capped at 1% Mo. Three QP check samples verify the Main Zone sampling: 0.84% Cu
(multiple grabs from the Main Zone dyke), 0.21% Cu (2 grabs of a 20 m-wide dyke in an adjacent creek), and
0.11% Cu (a 5 m-wide dyke 80 m downstream).
Tracking the Main Zone mineralization to the northwest beyond drill intersections, 5 samples were taken on
the North R idge (Fig. 2) from rusty w eathering veins and breccia zones. One 10 cm quartz vein sample
located 1 kilometer north of the Main Zone in a rusty shear zone graded 18.3 g/t Au, and a QP check sample
of pyritic brecciated granodiorite graded 0.21% Cu.
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Trogold Showing
The Trogold showing is located on the NW slopes of Piano Peak in a cirque that is rapidly losing ice cover
(Fig. 4). T he showing is notable for several gold -rich samples collected in the Callinex survey of 2011 that
range between 5.1 and 19.4 g/t Au. Outcrops at the showing and on the nearby lower slopes of the cirque
and along the steep head-wall were mapped in 2022 and 25 samples were collected. At the original Trogold
showing, two of six samples corrob orate the previ ous gol d-rich samples: both samp led quartz- pyrite
chalcopyrite veinlets in granodiorite; one graded 6.5 g/t Au and 0.86% Cu and the other 2.9 g/t Au. Two
samples of granodiorite with disseminated chalcopyrite graded 2.6% and 0.94% Cu.
At the headwall of the cirque, a felsic porphyry d yke tracks up the cliff face and can be seen to continue
across the mountain crest in the photo in Fig. 4. The dyke is mineralized with disseminated chalcopyrite
while the adjacent monzodiorite - granodiorite has quartz chalcopyrite-pyrite veinlets. Grades in the dyke
include a one -meter composite with 0.16% Cu and a grab with 0.87% Cu. Peripheral to the dyke, veinlet -
mineralized granodiorite samples graded 0.76% and 0.57% Cu. North of the dyke a quartz carbon ate
altered shear zone yielded a sample with 5.3% Cu and another with 0.53% Cu.
The results of the sa mpling and assays suggest similarities to the Main Zone showings 2 kilometers to the
northwest, which are associated with potassically altered, chalcopyrite mineralized porphyritic granite
dykes.
Cirque Showing
West of the Trogold showin g (Fig. 4), the redefined Cirque showing is located at a col between the west
buttress of Piano Peak and its main westerl y ridge. In previous Callinex samples from the area, 30 of 32
samples averaged 0.33% Cu and 197 ppm Mo (excluding 2 vein samples assaying 4.5% and 2.4% Cu).
Thirteen mineralized samples and two whole rock samples were taken from quartz sulphide veins in
granitoid and mafic volcanic rocks at the Cirque showing. Copper grades in the samples vary from 0.05% Cu
in a semi- massive pyritic vein to 7.0% in a 2 cm chalcopyrite vein in granodiorite. The average of 11 of 13
samples is 0.21% (capped at 1.4%; excluded 5.0% and 7.0% Cu). Samples with higher grades of copper tend
to have higher gold assays (0.5 4 and 0.44 g/t Au), but one vuggy quartz vein sample wit h only 0.15% Cu
yielded 0.99 g/t Au. Molybdenum ranges from 1.3 ppm to 549 ppm and averages 175 ppm Mo in all 13
samples indicating that higher Mo grades are independent of copper.
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South Glacier
The Astiort and Tro showings are located about 900 meters south of the Main Zone in an area of recent
deglaciation ( Fig. 2) where Callinex took 61 samples in 2010 that averaged 0.11% Cu from glacially
smoothed, near continuous outcrops. The mineralization and related alteration is interpreted to represent a
peripheral zone in the porphyry system exhibiting more argillic styles of alteration, higher pyrite to
chalcopyrite ratios, galena, sphalerite and carbonate veining.
Seven of eight new sa mples, excluding a 7.4% Cu sample, averaged 0.44% Cu, but included tw o samples
with significant galena and sphalerite (8.6% and 7.0% Pb; and 0.34% and 0.53% Zn). The excluded high
copper sample also graded 3550 ppm Mo, 98 g/t Ag and 599 ppm Bi, and is from a 25 cm quartz carbonate
vein found along the contacts of a hornblen de phyric diorite dyke. Galena- sphalerite - bearing veins were
also sampled by the QP at Troitsa Easter 2 km to the NE near the Troitsa stock contact with hornfelsed tuffs.
A copy of the NI 43 -101 Technical Report is available on SEDAR at www.sedar.com and on the Company’s
website, www.new-enrg.com.
The technical inf ormation contained in this news release has been approved by Dr. Hardolph Wasteneys,
P .Geo., a Qualified Person as defined by NI 43-101.
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 Com pany ha s an op tion to purchase a 100 -per-cent interest in the Roslyn lithium property,
covering 5,100 hectares located 20 kilometers southeast of the Georgia Lake pegmatite field and 35
kilometers southeast of where Rock Tech Lithium just published a preli minary economic assessment
supporting the indicated mineral resource of 10.6 Mt (million tons) grading 0.88 pe r cent lithium oxide and
an inferred mineral resource of 4.2 Mt grading 1.0 per cent Li2O. The Company also has an option to
purchase a 100 -per-cent interest in the Troitsa copper propert y covering approximately 7,000 hectares
located in the Omineca mining division of British Columbia.
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.
Forward Looking Statements
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: the technical update, future plans and objectives on the Troitsa
Copper Project, and all other statements that are not historic al facts, particularly statements that express,