NAM Further Demonstrates Presence of Rhodium at the River Valley Palladium Project Near Sudbury, Ontario
New Age Metals TSX-V: NAM OTCQB: NMTLF
Field Office: 59 Burtch’s Lane, Rockport, ON, Canada, K0E 1V0 [email protected]
+1.613. 659.2773 www.newagemetals.com
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NAM FURTHER DEMONSTRATES PRESENCE OF RHODIUM
AT THE RIVER VALLEY PALLADIUM PROJECT NEAR
SUDBURY, ONTARIO
Highlights
• Rhodium (Rh) is the most valuable platinum group metal (PGM), with recent spot
price highs of over $US24,000/oz Rh, nearly 18 times higher than Pt
• 303 Rh assay results reported for the Pine Zone of the River Valley Deposit
• Highest assay result is 0.177 g/t Rh, with 9 other samples returned assays at or greater
than 0.100 g/t Rh and a total of 50 samples returned assays higher than 0.050 g/t Rh
• The highest Rh concentrations coincide with the highest palladium (Pd) and platinum (Pt)
grades
• Rh concentrations in the River Valley Deposit are equivalent to 12% of the Pt grades
• Based on encouraging results from phase 1, subsequent phases of the multi-phase
Rh evaluation program will take samples of PGM mineralized intervals from the
Dana South and Lismer zones
• The River Valley Deposit is one of North Americas largest undeveloped primary
platinum-group metal projects with 2.867 Moz Palladium Equivalent (PdEq) in the
Measured + Indicated classifications and 1.059 Moz Pd Eq in the Inferred classification
Rockport, Canada – March 2, 2021 Rockport, Canada - New Age Metals Inc. (NAM) (TSX.V:
NAM; OTCQB: NMTLF; FSE: P7J) (“NAM” or the “Company”) announces completion of Phase
1 of an ongoing Rh assay program on the River Valley Palladium Deposit near Sudbury, Ontario
(Figure 1). Phase 1 of the Rh assay program collected 303 pulp samples from 17 mineralized
intervals in 14 drill holes through the Pine Zone. The samples were selected to provide Rh data for
mineralization in two cross -sections spaced 50 metres apart through the Pine Zone, located near
the north end of the 16 km long River Valley Deposit (Figure 1). In addition to Rh, the samples
were also assayed for gold (Au), iridium (Ir), palladium (Pd), platinum (Pt), and ruthenium (Ru).
The assays were completed on 2015-2020 drill core sample pulps at the Geoscience Laboratories
in Sudbury.
The new Rh data reported herein are in addition to historical data generated from drill core, channel
and surface grab samples from the River Valley Deposit (Figure 2) (see also Pacific North West
Capital Corp. press release dated July 26, 2011). Rh is the most valuable platinum group metal
(PGM), with recent spot price highs of over $US24,000/oz Rh, nearly 18 times higher than
Pt. However, Rh analyses are too costly to be performed on every drill core assay sample. Rh is
reported in the current Mineral Resource Estimate for the River Valley Deposit ( see NAM press
New Age Metals TSX-V: NAM OTCQB: NMTLF
Field Office: 59 Burtch’s Lane, Rockport, ON, Canada, K0E 1V0 [email protected]
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release dated August 8, 2019 ), based on regression analysis of historical drill core and channel
sample assay data for the Dana North, Dana South and Lismer Zones.
This announcement is the first report of Rh assay data for the Pine Zone.
Figure 1. Geological map showing the location of the River Valley Palladium Deposit relative to
Sudbury, Ontario.
New Age Metals TSX-V: NAM OTCQB: NMTLF
Field Office: 59 Burtch’s Lane, Rockport, ON, Canada, K0E 1V0 [email protected]
+1.613. 659.2773 www.newagemetals.com
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Figure 2. Property scale geology and topography map showing location of the Pine Zone , River Valley
Palladium Deposit . Also shown are the number of Rh assays for contiguous drill core samples from each
mineralized zone (total = 7910). Note that the Pine Zone occurs 100 m to 250 m below surface in the immediate
footwall to the Dana North Zone.
New Age Metals TSX-V: NAM OTCQB: NMTLF
Field Office: 59 Burtch’s Lane, Rockport, ON, Canada, K0E 1V0 [email protected]
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The purpose of the multi-phase Rh assay program is three-fold:
1) Investigate Rh concentration and distribution trends within the River Valley Deposit;
For this study of the Pine Zone, the Rh assay values returned range from <0.00005 g/t (below
the lower limit of detection) to 0.177 g/t Rh. Ten samples returned assays of equal to or greater
than 0.100 g/t Rh and 50 samples returned assays higher than 0.050 g/t Rh (Table 1) (click
here to view all results). The highest assay result for Ir is 0.039 g/t and for Ru is 0.013 g/t.
New Age Metals TSX-V: NAM OTCQB: NMTLF
Field Office: 59 Burtch’s Lane, Rockport, ON, Canada, K0E 1V0 [email protected]
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Drill Hole Sample Au (g/t) Ir (g/t) Pd (g/t)* Pt (g/t) Rh (g/t) Ru (g/t)
DN-T2-06 RV2016-180 0.368 0.039 2.700 1.898 0.177 0.013
DN-T2-06 RV2016-186 0.135 0.031 2.700 1.018 0.136 0.011
DN-T2-06 RV2016-184 0.238 0.028 2.700 1.237 0.130 0.010
2015-DN002 RV2015-0207 0.148 0.024 2.700 1.266 0.109 0.010
DN-T2-10 RV2016-490 0.072 0.023 2.700 1.404 0.106 0.009
2015-DN002 RV2015-0201 0.116 0.022 2.700 1.115 0.102 0.009
DN-T2-13 RV2016-581 0.142 0.025 2.700 1.144 0.102 0.009
PZ-20-04 RV2020-0434 0.085 0.019 2.223 0.783 0.102 0.008
2015-DN002 RV2015-0206 0.188 0.022 2.700 1.289 0.100 0.009
2015-DN002 RV2015-0208 0.119 0.021 2.700 1.053 0.100 0.008
DN-T2-03 RV2016-037 0.014 0.021 1.078 0.708 0.097 0.007
PZ-17-06 RV2017-0913 0.178 0.021 2.700 1.050 0.096 0.010
DN-T2-11 RV2016-342 0.102 0.021 2.700 1.053 0.096 0.008
2015-DN001 RV2015-0074 0.161 0.020 2.700 0.852 0.093 0.009
DN-T2-10 RV2016-491 0.057 0.020 2.700 0.864 0.090 0.008
DN-T2-06 RV2016-183 0.165 0.020 2.669 0.809 0.087 0.007
DN-T2-11 RV2016-347 0.164 0.016 1.784 0.549 0.087 0.007
DN-T2-11 RV2016-341 0.063 0.019 2.631 0.684 0.085 0.008
PZ-17-08 RV2017-1048 0.060 0.016 1.573 0.519 0.085 0.006
PZ-17-08 RV2017-1054 0.083 0.019 2.700 0.790 0.083 0.009
2015-DN001 RV2015-0075 0.137 0.018 2.620 0.861 0.082 0.009
T3-17-04 RV2017-0633 0.212 0.019 2.582 0.938 0.081 0.008
DN-T2-10 RV2016-498 0.143 0.018 2.482 0.798 0.080 0.008
PZ-17-06 RV2017-0914 0.115 0.017 2.700 0.820 0.078 0.007
PZ-17-06 RV2017-0915 0.129 0.016 2.402 0.725 0.077 0.007
2015-DN001 RV2015-0030 0.125 0.016 2.695 0.821 0.076 0.007
PZ-17-06 RV2017-0919 0.077 0.017 1.797 0.607 0.076 0.007
2015-DN001 RV2015-0066 0.117 0.016 2.456 0.833 0.075 0.008
2015-DN001 RV2015-0076 0.103 0.017 2.164 0.650 0.075 0.007
T3-17-03 RV2017-0446 0.052 0.016 2.607 0.699 0.073 0.006
2015-DN002 RV2015-0193 0.125 0.016 2.112 0.691 0.072 0.007
2015-DN002 RV2015-0194 0.051 0.022 1.282 0.552 0.072 0.008
DN-T2-11 RV2016-355 0.100 0.017 2.189 0.712 0.072 0.007
DN-T2-06 RV2016-177 0.111 0.015 2.118 0.726 0.071 0.007
PZ-17-06 RV2017-0921 0.107 0.015 2.171 0.774 0.070 0.006
2015-DN002 RV2015-0204 0.149 0.015 2.700 0.845 0.070 0.006
PZ-17-08 RV2017-1047 0.087 0.013 1.968 0.593 0.067 0.006
PZ-17-08 RV2017-1057 0.098 0.014 2.252 0.750 0.066 0.006
T3-17-02 RV2017-0378 0.094 0.015 2.052 0.620 0.065 0.006
2015-DN002 RV2015-0200 0.059 0.015 1.465 0.430 0.065 0.007
DN-T2-06 RV2016-181 0.075 0.015 1.693 0.627 0.063 0.006
2015-DN002 RV2015-0209 0.074 0.013 2.016 0.583 0.060 0.005
PZ-17-08 RV2017-1056 0.034 0.014 1.557 0.571 0.060 0.007
2015-DN001 RV2015-0067 0.081 0.013 1.667 0.526 0.059 0.006
DN-T2-11 RV2016-343 0.056 0.013 2.193 0.736 0.057 0.005
DN-T2-10 RV2016-502 0.051 0.013 1.609 0.566 0.054 0.006
DN-T2-13 RV2016-600 0.313 0.012 1.599 0.663 0.054 0.004
DN-T2-10 RV2016-499 0.140 0.012 1.533 0.528 0.054 0.008
DN-T2-13 RV2016-597 0.090 0.013 1.659 0.568 0.053 0.005
2015-DN002 RV2015-0203 0.041 0.011 1.844 0.564 0.053 0.005
PZ-17-06 RV2017-0918 0.063 0.012 1.508 0.546 0.052 0.005
2015-DN002 RV2015-0196 0.078 0.011 1.825 0.545 0.052 0.005
DN-T2-06 RV2016-189 0.070 0.012 1.249 0.384 0.051 0.005
2015-DN002 RV2015-0197 0.106 0.012 1.739 0.533 0.051 0.005
PZ-17-08 RV2017-1055 0.070 0.012 1.858 0.639 0.051 0.006
2015-DN002 RV2015-0202 0.063 0.011 2.099 0.557 0.051 0.005
DN-T2-06 RV2016-187 0.181 0.012 1.231 0.429 0.051 0.004
DN-T2-10 RV2016-503 0.055 0.012 1.520 0.515 0.050 0.005
*2.700 g/t Pd was the upper detection limit used in the analyses
Table 1.
Rhodium Assay Highlights from the Pine Zone
New Age Metals TSX-V: NAM OTCQB: NMTLF
Field Office: 59 Burtch’s Lane, Rockport, ON, Canada, K0E 1V0 [email protected]
+1.613. 659.2773 www.newagemetals.com
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Compared to the other mineralized zones, the range of Rh assay values for Pine Zone appears to
be most similar to Dana South Zone (Table 2).
Rh at Pine Zone was determined for 303 samples out of a total of 2443 (12%) drill core samples
from that zone. The results show very strong positive correlation of Rh with the other four
PGM (R2 >0.9) (Table 3), consistent with presence in the mineral phase H ollingworthite
[(Rh,Pt,Pd)AsS], which has been identified in previous mineralogical studies of River Valley.
Rh shows strong correlation (R2 >0.8) with copper (Cu) and moderate correlation
(R2 >0.5) with sulphur (S) ( Table 3). On the other hand, Rh does not correlate (R2 = -0.015)
with chromium, and therefore is not held in C r-bearing phases (chromite).
The occurrence of Rh with sulphides and not chromite differs from other Rh-bearing
PGM deposits elsewhere, and could potentially simplify metallurgical recovery processes.
New Age Metals TSX-V: NAM OTCQB: NMTLF
Field Office: 59 Burtch’s Lane, Rockport, ON, Canada, K0E 1V0 [email protected]
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2) Develop a more robust regression technique to estimate Rh concentrations from Pt
grades for future Mineral Resource Estimates; and
Statistical analysis indicates that Rh values for the remaining 2140 samples from the Pine Zone
can be estimated on the basis of Pt values through regression analysis. Results of this study
indicate that Rh concentrations are equivalent to be approximately 12% of the Pt grades.
A plot of measured Pt values versus Rh values for the 303 drill core samples from the Pine
Zone and the robust simple regression line with its derived equation are shown in Figure 3.
New Age Metals TSX-V: NAM OTCQB: NMTLF
Field Office: 59 Burtch’s Lane, Rockport, ON, Canada, K0E 1V0 [email protected]
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Figure 3. Plot of measured Pt versus Rh values for all Rh assayed samples (303) from the Pine Zone and
the robust simple regression line with derived equation.