New Age Metals Provides Update ON the Winter Drilling Program and Detailed Geophysical Study at the Winnipeg River-CAT Lake Lithium Project
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 PROVIDES UPDATE ON THE WINTER DRILLING
PROGRAM AND DETAILED GEOPHYSICAL STUDY AT THE
WINNIPEG RIVER-CAT LAKE LITHIUM PROJECT
March 1st, 2024, Rockport, Ontario - New Age Metals Inc. (TSX.V: NAM; OTCQB: NMTLF; FSE:
P7J.F) (“NAM” or the “Company”) in conjunction with its Farm-in/Joint Venture agreement with
Mineral Resources Ltd. (“MinRes”) is pleased to provide an update on the drilling operations and
exploration program at its Winnipeg River-Cat Lake Lithium project in Southeast Manitoba. The
project area hosts numerous spodumene -bearing pegmatites and surrounds the world class
Tanco mine. The program is being carried out by Platinum Diamond Drilling Inc. (“Platinum”) with
technical and geological oversight by Axiom Exploration Group Ltd. (“Axiom”).
2024 Drill Program Update
The 2024 Exploration Program has comp leted 54 of 57 diamond drill holes for approximately
12,500 total meters targeting high priority geophysical and geochemical targets identified from
the extensive summer fieldwork campaign. Diamond drilling on the Lithium Two and Lithium East
property has been completed with ongoing drilling at the Bird River Lithium property. The
unseasonable warm conditions have forced the company to postpone drilling on the Lithman
West property as access relies on an ice bridge crossing and current conditions do not allow for
safe a crossing. The Lithman West property is a high priority target area where geophysics
analysis identified numerous demagnetized trends analogous to those on the Tanco Mine
Property which lies 3 kilometers east along strike. The Company plans to further progress the
understanding of the property by collecting additional surface data to correlate with high
priority targets identified by the Australian consulting company Resource Potentials (see figure
3). A drill program for this project will be slated for the winter of 2025.
To date 1,452 core samples have been submitted to SGS Laboratories for analysis and results are
pending. Mineralization has been identified visually in some exploration holes on the Lithium
Two property. Drill hole LT24 -032 targeting the FD5 pegmatite on the Lithium Two property
intersected 21.75 meters core length of spodumene -bearing pegmatite . Drill hole LT24 -044
targeting the Magpie showing discovered during the summer program intersected 66.60
meters core length of pegmatite with localized spodumene zones (figure 1). On the Lithman
East property d rill testing underneath elevated C esium (Cs) values on the Lithman East
property intersected 199.33 meters core length of pegmatite with preliminary observations
indicating a fractionated pegmatite (assays pending). Orientation of these pegmatites and true
width has yet to be defined.
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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Harry Barr, Chairman and CEO, commented; “We are pleased with how the 2024 Drill Campaign
has progressed despite the challenging weather conditions. Our contractors were able to
complete 12,500 m of the originally planned 15,000 m in an extremely efficient manner. The
exploration drilling has proved that our properties cover a large LCT -style pegmatite field and
that the potential for a discovery remains. The safety of our contractors remains our highest
priority and while it is unfortunate that we were unable to test the Lithman West property, we
are content with the amount of drilling we were able to complete in such a short time frame
and given the historically warm winter. We eagerly await the pending assay results from the
drill program and look forward to providing further updates.”
Figure 1: Drill hole LT24 -032 showing FD5 pegmatite hosting pale-green spodumene blades intercept from 60.80 –
82.55 meters (assays results pending)
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: Drill hole LE24-011 showing fractionated pegmatite intercepted from 390.16 – 406.79 m (assay
results pending)
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: Overview of 2024 Lithium Two Drilling (assays pending)
Figure 4: Overview of 2024 Lithman East Drilling (assays pending)
Geophysics Interpretation Update
Resource Potentials based out of Perth, Western Australia were contracted to conduct a detailed
analysis, interpretation, and targeting of the company’s large geophysical dataset in-conjunction
with geological and geochemical data.
Newly acquired and pre-existing geological, geochemical and geophysical exploration datasets
were compiled over the regional project area, including wide spaced government datasets and
high-resolution company datasets, especially the recently acquired 4,354 line -kms of high-
resolution helicopter borne magnetic, radiometric and LiDAR digital elevation model (DEM)
survey datasets flown by Axiom in summer of 2023. The different mineral exploration datasets
were processed and imaged to generate suites of geophysical and geochemical anomaly images
for use in GIS software. Government and company geology maps and observations, rock ages,
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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mineralised lithium pegmatite deposit locations, mapped pegmatites, DEM, and different
geochemical and geophysical anomaly images were integrated together and reviewed in GIS to
interpret geological domains, shear and fault structures, and other key geolog ical features.
Anomaly patterns and trends were also interpreted and traced out in GIS to identify granite
contacts, including radiogenically “hot” granites which could be the parent granites for lithium
bearing pegmatites, including the world class Tanco deposit which sits adjacent to the project
areas, radiometric trends and anomaly zones which could be cause d by internal granites and
pegmatites within the east-to-west trending host greenstone belt, major and minor shear zones,
late cross faults and E -W oriented faults which are key targets for hosting lithium bearing
pegmatites, and demagnetised zones within the greenstone belt rocks which could indicate thick
and flat zones of pegmatite intrusions at depth. Areas having overlapping geological,
geochemical and geophysical anomalies of interest were outlined in GIS as target areas for
detailed follow -up exploration, and were assigned a priority from 1 (high) to 3 (low). This
regional and prospect scale interpretation and lithium pegmatite targeting work is ongoing,
with several high priority target areas already identified along geological trend to the east and
west of Tanco.
Figure 5: Interpretation lines and target areas over a greyscale magnetic image (TMIRTP 1VDAGC)
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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CEO Interview Video
Agoracom released a corporate overview on the Company which can be accessed by clicking the
following link. https://youtu.be/mSJHoa29Gi8?si=lO9iOydrml0O4j5I
About NAM
New Age Metals is a junior mineral exploration and development company focused on the
discovery, exploration, and development of green metal projects in North America. The Company
has two divisions: a Platinum Group Element division and a Lithium/Rare Element division.
The PGE Division includes the 100% owned, multi -million-ounce, district -scale River Valley
Project, one of North America’s largest undeveloped Platinum Group Element Projects, situated
100 km by road east of Sudbury, Ontario. In addition to River Valley, N AM owns 100% of the
Genesis PGE-Cu-Ni Project in Alaska and plans to complete a surface mapping and sampling
program in 2023.
The Company’s Lithium Division is one of the largest mineral claim holders in the Winnipeg River
Pegmatite Field, where the Company is exploring for hard rock lithium and various rare elements
such as tantalum, rubidium, and cesium. Exploration for 2024 includes 12,500 meters of diamond
drilling following up on the anomalous results from the geochemical samples collected during
summer 202 3 and geophysical/structural interpretation . The Company has a partnership with
Mineral Resource Limited (MRL, ASX: MIN), a top global lithium producer to explore and
develop the Company’s lithium project portfolio in Southern Manitoba. Our philosophy is to be a
project generator with the objective o f optioning our projects with major and junior mining
companies through to production.
The Company is actively seeking an option/joint venture partner for our newly acquired
Northman and South Bay Lithium Projects in northern Manitoba, and its road -accessible
Genesis PGE-Cu-Ni Project in Alaska.
Investors are invited to visit the New Age Metals website at www.newagemetals.com where they
can review the company and its corporate activities. Any questions or comments can be directed
to [email protected] or Harry Barr at [email protected] or Farid Mammadov at
[email protected] or call 613 659 2773.
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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Qualified Person
The technical information in this news release has been reviewed and approved by Lynde Guillaume
(Senior Geologist, Axiom Exploration Ltd.), an independent consultant of the Company, and a “Qualified
Person” as defined by NI 43-101.
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If you have not done so already, we encourage you to sign up on our website
(www.newagemetals.com) to receive our updated news.
On behalf of the Board of Directors
“Harry Barr”
Harry G. Barr
Chairman and CEO
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. Cautionary Note Regarding Forward Looking State ments: This release contains
forward-looking statements that involve risks and uncertainties. These statements may differ
materially from actual future events or results and are based on current expectations or beliefs.
For this purpose, statements of historical fact may be deemed to be forward-looking statements.
In addition, forward -looking statements include statements in which the Company uses words
such as “continue”, “efforts”, “expect”, “believe”, “anticipate”, “confident”, “intend”, “strategy”,
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Company’s ability and continuation of efforts to timely and completely make available adequate
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confirm analysts’ expectations or estimates or to release publicly any revisions to any forward -
looking statements to reflect events or circumstances after the date hereof or to reflect the
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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occurrence of unanticipated events. Investors should not place undue reliance on forward-looking
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