New Age Metals 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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New Age Metals Further Demonstrates Presence of Rhodium at the
River Valley Palladium Project near Sudbury, Ontario
• Rhodium (Rh) is the most valuable platinum group metal (PGM), with recent spot price
highs of >$US12,000/oz Rh, nearly 10 times higher than Pt
• 187 Rh assay results reported for the Lismer North Zone of the River Valley Palladium Deposit
• Highest assay result is 0.595 g/t Rh, with 8 other samples returned assays ≥0.100 g/t Rh and a
total of 25 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 about 10% of Pt grades
• Based on encouraging results from phases 1 and 2, 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 2.3 Moz Pd+Pt+Au in the Measured + Indicated classifications and 1.6 Moz
Pd+Pt+Au in the Inferred classification
Rockport, Canada – December 15, 2021 Rockport, Canada - New Age Metals Inc. (NAM)
(TSX.V: NAM; OTCQB: NMTLF; FSE: P7J) (“NAM” or the “Company”) announces completion
of Phase 2 of an ongoing Rh assay program on the River Valley Palladium Deposit near Sudbury,
Ontario (Figure 1). Phase 2 of the Rh assay program collected 185 one-quarter historical core
samples plus two coarse reject samples from 8 mineralized intervals in 4 drill holes on a
single cross-section through the Lismer North Zone. This Zone is located near the north end of
the 16 km-long River Valley Palladium Deposit. The sampled holes were drilled in 2001 and 2004.
In addition to Rh, the core samples were also assayed for gold (Au), iridium (Ir ), palladium (Pd),
platinum ( Pt), and ruthenium (Ru ). The assay analyses were completed 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 $US12,000/oz Rh, about 10 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
release dated October 5, 2021), based on regression analysis of historical drill core and channel
sample assay data for the Dana North, Dana South and Lismer Zones.
This announcement reports new Rh assay data for the Lismer North 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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Figure 1. Geological map showing the location of the Lismer North Zone relative to the other mineralized zones of
the River Valley Palladium Deposit, 100 road-km east-northeast of Sudbury. Pit-constrained Mineral Resources are
shown at a $15/t NSR cut-off. M&I = Measured and Indicated, Ind: = Indicated, Inf = Inferred.
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 Lismer North Zone relative to the other
mineralized zones of the 16 km long River Valley Palladium Deposit . Also shown are the number of Rh assays for
mineralized core sample intervals from each mineralized zone (total = 8097).
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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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 Lismer North Zone, the Rh assay values returned range from <0.00005
g/t (below the lower limit of detection) to 0.565 g/t Rh (Table 1). Eight samples returned assays
of ≥ 0.100 g/t Rh and 25 samples returned assays higher than 0.050 g/t Rh. The highest assay
result for Ir is 0.113 g/t and for Ru is 0.088 g/t.
Note: *2.700 g/t Pd is the upper limit of detection for the analytical method employed by the assay lab.
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 Lismer North Zone
appears to be most similar to the Dana North Zone (Table 2).
Notes:
*drill core samples of mineralized intervals
(Channel samples, surface rock samples and academic study samples excluded)
** <0.01 g/t (10 ppb) was lower limit of detection at the time of historical assay
Rhodium at the Lismer North Zone was determined for a total of 187 samples, 33 of which were
for mineralized core intervals with historical Rh assay results and 154 were for intervals lacking
Rh assays. The re-assay results for the 33 historical samples show moderately strong positive
correlation with the historical Rh assay results (Rh R 2 = 0.714). At this point, Rh assay data are
available for 654 out of a total of 10,719 (6%) drill core samples from that Zone. The results show
moderate to strong positive correlation of Rh with the other four PGM (R2 >0.7 to 0.9) (Table 3),
consistent with presence in the mineral phase s Hollingworthite [(Rh,Pt,Pd)AsS] , platarsite
[(PtAsS) with minor Rh and Ru), and laurite [(RuS2 with minor Rh], which have all been identified
in previous mineralogical studies of River Valley. In contrast to the Pine Zone, Rh shows only
weak correlation (R2 >0.3) with copper (Cu) and very weak correlation (R2 >0.2) with nickel
(Table 3). On the other hand, and like the Pine Zone, Rh (and Ru) do not correlate with chromium
(Rh R2 = 0.001 and Ru R2 = -0.016), and therefore is unlikely to be held in Cr-bearing phases like
chromite. The evident occurrence of Rh independently of chromite differs from other Rh-
bearing PGM deposits elsewhere , and could potentially simplify metallurgica l recovery
processes. Similarly, the presence of laurite may bode well for potential Ru recovery.
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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Notes:
*2021 assay data from Geoscience Laboratories and 2015-2019 previous assay data are for the same
samples
**Au, Ir, Pd, Pt, Rh and Ru values in grams per tonne (g/t); Cu, Ni, and Co values in %; Cr values in ppm
*** Correlation coefficient for rhodium
na = not analysed
2) Develop a more robust regression technique to estimate Rh concentrations from Pt
grades for future Mineral Resource Estimates;
Statistical analysis indicates that Rh values for the remaining 10,123 samples from the Lismer
North Zone can be estimated on the basis of Pt values through regression analysis (Pd values
too commonly exceed the upper limit of detection) . Results of this s tudy indicate that Rh
concentrations in the Lismer North Zone are equivalent to be approximately 11% of the
Pt grades. A plot of measured Pt values versus Rh values for the 187 drill core samples from
the Lismer North 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]
+1.613. 659.2773 www.newagemetals.com
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Figure 3. Plot of measured Pt versus Rh values for all 2021 Rh assayed core samples (187) from the Lismer
North Zone and the robust simple regression line with derived equation.
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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Statistical analysis indicates that Rh values for the remaining River Valley Deposit can be
estimated on the basis of Pt values through regression analysis. A plot of measured Pt values versus
Rh values for all the drill core samples from River Valley and the robust simple regression line
with its derived equation are shown in Figure 4.
Figure 4. Plot of measured Pt versus Rh values for all Rh assayed mineralized drill core intervals from the
River Valley Palladium Deposit (8,097 samples) and the robust simple regression line with derived equation.