Encounters 2.45 g/t Pd+Pt+Au Over 28 m at the River Valley Platinum Group Metal s Project , Sudbury Mining District, Ontario.
1
Drill
Program
Encounters 2.45 g/t Pd+Pt+Au Over 28 m
at
the
River Valley
Platinum Group Metal
s
Project
,
Sudbury Mining District, Ontario.
Highlights
A drill hole collared in
main
mineralized
zone
(Dana North)
encounter
ed
2.45 g/t
Pd+Pt+Au over 28
m
,
includ
ing 7.12 g/t over 3m and 4.06 g/t over 6m with a second z
one
of 3.30 g/t Pd+Pt+Au
over 4
m
Drilling continues to encounter PGM mineralization in the footwall of the River Valley
PG
M Deposit with a
ssay
s
of
1.56 g/t
Pd+Pt+Au
over 9m, 1.41
g/t over 8m
,
1.12 g/t over
17 m
and 1.64 m of 7
m
were obtained from drilling in the footwall
D
rilling
has been
focus
ed
on follow
-
up drilling to further test the continuation of the
Pine Zone
and Dana North Zone
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.
September
20
th
, 2017 Vancouver, Canada
–
New Age Metals Inc. (TSX
.
V:
NAM; OTCQB: PAWEF;
FSE: P7J.F)
is pleased to announce
the first drill hole results of the 2017 drilling campaign. Drilling
has focused on the Dana North (T3) and Pine Zone as a follow up of the 2015 and 2016 drilling at
the River Valley PGM Deposit.
Harr
y Barr, Chairman and CEO states,
“
Drill results (Table 1)
have
confirmed continued PGM
mineralization in the footwall t
o the main River Valley contact, where the
current
measured
and indicated resources have been proven
.
At present
the
PGM mineralization has been
extended for approximately 140 metres east of the previous known mineralization into the
footwall of the
identified
resources
.
PGM mineralization in the Pine Zone has now be
en
shown
to extend to at least 300 m below surface.
Wi
th continued drilling success, o
ther
new
targets
could extend along
the
16kms of strike and at depth
that
have
not been previously explored.”
A
ground
geophysical survey was carried
out
on
the Pine Zone
by Abitibi Geophysics (News
Release:
June 19
th
, 2017
).
The surface
IP geophysical s
urvey
was
designed
to t
est the
eastward
and southward
extension
and dip/plunge
of the Pine Zone as well as the adjacent Dana North
Zone (Figure
1
-
2
). The
extension of the IP survey
tested
the Banshee Zone.
Initial
interpretation
s
are complete and the final report
has been completed. Several new targets from
the geophysics
have been identified and are planned for drill testing. The Company has also retained the services
of a geophysical consultant, Alan King of Geoscience North Ltd
(News Release:
Aug 22
nd
, 2017
)
,
to
compile all past and current geophysics into one 3D model and
aid in
the understanding of the
structural controls on the PGM mineralization
.
2
Figure 1
: River Valley Geology Layered Over
Recent IP Geophysics with Recent Area of Drilling
(Red Banded Unit represents the River Valley mi
neralized breccia contact zone
-
westward
dip)
Table 1 Drill Results from Dana North/Pine Zone
(3E = Pd+Pt+Au, N.S.A. = no significant assays)
3
Assay results have been received for
six
of the
eleven
presently drilled holes. Breccia host zones
were indentified in all holes in the program with
fou
r
drill holes (Table 1) returning significant
Pd+Pt+Au (3E in the Ta
ble 1) mineralization to date.
The d
rilling is
mainly of
an exploratory
nature and
intended to test t
he footwall mineralization in
the northern p
ortion
of
the property.
Further re
-
interpretation of the geology, structure and PGM mineralization on the project are
ongoing with the company’s ge
ological and geophysical consultants.
Drill hole T3
-
17
-
04 was collared obliquely into the main PGM Zone and therefore the results are
not true widths. Two high grade PGM zones were encountered from surface to 41 m. The drill
hole was designed to test the footwall Pine Zone PGM mineralization t
o depth.
PGM
mineralization in the Pine Zone has now be
en
shown to extend to at least 300 m below surface.
Figure
2
.
Zoom in of the Pine Zone and Present Area of Drilling
Drill holes were drilled into the Pine Zone to test the PGM footwall mineralization. Drill widths
are considered
not true
width due to the exploratory nature of the drill campaign.
Assay Procedures and QAQC
The drilling
is being undertaken by
Jacob & Sam
uel Drilling Ltd. of Sudbury, Ontario under the
supervision of
NAM geologists
. The drill core samples
are
sent to the SGS Canada Inc. Laboratory
in Lakefield, Ontario for sample preparation and assay analyses. The preparation
involved
crushing of 3 kilograms of each sample to 90% passing 2 mm, and then pulverizing 0.5 kilograms
to 85% passing 75 µm. Palladium, Platinum and Gold were assayed by fire assay with ICP
-
AES
finish (GE
-
FAI313). Copper, Nickel and 32 additional metals were assa
yed by two acid digestion
and ICP
-
OES finish (GE
-
ICP14B). Blanks and blind certified standard samples were submitted at
4
regular intervals for assay with the core samples as part of
NAM
’s rigorous Quality
Assurance/Quality Control program.
Future Activity
WSP Canada (News Release:
Sept 7
th
, 2017
) will be conducting the updated resource calculation
and model for the River Valley PGM Deposit. This will incorporate
any
new
drill results
and
interpretations.
This present exploration activity of drilling and geophysics is geared to establish the res
ource
base for a Preliminary Economic Assessment (PEA) Report which the company plans to initialize
in the near future.
To date (not including the present drill program) an approximate 612 holes (136,574 metres)
have been conducted by the company and its
past major joint venture partner to test the PGM
mineralization extents
along the contact of the
River Valley Intrusion. As well, several 43
-
101
complaint resource estimates have been generated.
The
River Valley
Deposit
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.
The Company will continue to update investors as the drill results are received.
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 N
orthern
Ontario (100 km east of Sudbury,
Ontario). Presently the River Valley Proj
ect 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, at a cut
-
off grade of 0.8 g/t PdEq
for
2,463,000 ounces PGM plus
Gold.
T
his equates to
3,942,910
PdEq
ounces.
The River Valley PGM
-
Copper
-
Nickel Sulphide
mineralized zones remain open to expansion
. Currently the company has completed new ground
geophysics and is in the middle of a drill program focused on the Pine and Dana North Zones.
In
2016, the
Company
acquired the River Valley extension property from Mustang Minerals which
added approximately 4kms to the project’s mineralized strike length
to the southern portion of
the intrusion
.
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
.
This Pegmatite Field hosts the world
class Tanco Pegmatite that has been mined for Tantalum, Cesium and Spodumene (one o
f the
primary Lithium ore minerals) in varying capacities, since
1969
. NAM’s Lithium Projects are
strategically situated in this prolific Pegmatite Field.
Presently, NAM is the largest mineral claim
5
holder in the Winnipeg River Pegmatite Field and is seeki
ng JV partners to further develop the
company’s Li 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 ge
oscientist 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
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-
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-
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