New Age Metals TSX - V: NAM OTCQB: PAWEF 101 -
New Age Metals
TSX
-
V: NAM OTCQB: PAWEF
101
-
2148 W 38th Ave, Vancouver BC, V6M 1R9
+1.604.685.1870
www.newagemetals.com
2017
Exploration
Update at the
River Valley
Platinum Group Metal
s
Project
,
Sudbury Mining District, Ontario.
Footwall PGM mineralization
continues
to
be encountered at
the
River Valley
PGM
Deposit
Drilling from 2015 to 2017 has
confirmed footwall
mineralization in the
Pine Zone
with
mineralization extending
~140m
east and
1010m of strike
of the original mineralized
zone
of the River Valley PGM Deposit
.
Future exploration will involve
additional
ground
IP geophysics along the T4 to T9
footwall anomalies.
Footwall PGM mineralization is a new and additional source of PGM mineralization
which will be included in
the resource model
.
Updated
geological exploration plan and
NI 43
-
101
resource calculations with WSP
Canada have
commence
d
and will include all the new data on the deposit and the
deposits southern extension
. This
is expected to be completed in Q1
-
2018.
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.
November
2
8
th
, 2017 Vancouver, Canada
–
New Age Metals Inc. (TSX
.
V: NAM; OTCQB:
PAWEF; FSE: P7J.F)
is pleased to announce
all data from the latest drill program is completed
and that the new NI 43
-
101 resource calculation has commenced with Todd
McCracken
at WSP
Canada.
This
drill
program
was
focused on the
Pine Zone (T2) and T3
as a follow up
to
the 2015
and 2016 drilling
and IP geophysical work
at the River Valley
Platinum Group Metals (
PGM
)
Deposit.
President and COO Trevor Richardson states “
PGM Mineralization was discovered in the River
Valley Intrusion in 1999 and active exploration was carried out f
rom 1999 to 2012
(Figure 1).
In 2015, reinterpretation of past results led to the theory of PGM mineralization in the
footwall.
The
2015 drilling confirmed
this
theory and led to the 2016 and 2017 drilling (Figure
2
-
Table
3
) that continued to confirm the PGM footwall miner
alization
(see NAM website
–
Press Releases
)
”
.
In 2016, the company obtained the Mustang Minerals’ southern portion of the River Valley
PGM Deposit (River Valley Extension, News Release
–
Oct 5
th
, 2016
). This added 4 kilometres
of mineralized strike length to the company’s River Valley PGM Deposit
. This additional
mineralization will be a part of the new resource model presently being developed by WSP
Canada.
New Age Metals
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2148 W 38th Ave, Vancouver BC, V6M 1R9
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Figure 1: The River Valley PGM Deposit
–
approximately 16 kilometres of Mineralization
In the fall of 2012, two holes were drilled for metallurgical purposes
(news release
–
Oct 12,
2012).
O
ne at Dana North
Zone
and the other 600 metres to the south at Dana South
Zone
(refer to maps in Figure 1 or Figure 2 for location)
.
The hole at Dana North was drilled for 300
metres obliquely down
-
dip where the zone shows a
consistent orientation laterally. The Dana
South hole was drilled vertically for 300 metres in deference to its relatively more irregular
orientation laterally.
True thickness of the deposit is not reflected in the holes as they were
drilled parallel to t
he mineralization to maximize the amount of mineralization for purposes of
metallurgy work (Table 1
and Table 2
).
New Age Metals
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101
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Table 1: 2012 Metallurgy hole coordinates.
A review of the drill logs indicated that multiple zones may be present.
Table 2: 2012 Assay
Results of the Metallurgical Holes
During the spring of 2017 (Figure
2
), a ground IP survey was carried out by Abitibi Geophysics
(News Release
–
June 19
th
, 2017)
.
This worked was carried out in the Pine Zone, T3 and
Banshee Zone areas with focus on the area into the footwall of the main deposit
(Figure 2)
.
Drilling in 2017 utilized the geophysical
survey as a guide to drill targeting.
Hole ID
Zone
Easting (m)
Northing (m)
Azimuth
Inclination
Length
DNZ2012-MET1
Dana North
555290
5172684
155
-58
300
DSZ2012-MET1
Dana South
555490
5172040
0
-90
300
Note: Easting and Northing coordinates NAD83 Zone 17N
From
To
Interval
Pd
Pt
Au
3E
(m)
(m)
(m)
(g/t)
(g/t)
(g/t)
(g/t)
DNZ2012-MET1
Dana North
2
300
298
1.397
0.449
0.086
1.932
0.125
0.024
including
126
149
23
1.78
0.599
0.13
2.509
0.151
0.033
including
156
300
144
1.894
0.595
0.109
2.598
0.156
0.028
DSZ2012-MET1
Dana South
1
300
299
0.874
0.292
0.052
1.218
0.076
0.016
Including
1
47
46
2.001
0.652
0.125
2.778
0.168
0.031
including
149
239
90
1.295
0.399
0.061
1.755
0.096
0.018
Hole
Zone
Cu%
Ni%
New Age Metals
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Figure
2
: Drill Hole Distribution Map
in
the Northern Portion of the River Valley PGM Deposit
(Image only represents approximately
3
.5 km of the overall strike length of the deposit)
River Valley PGM
Exploration Going Forward
To date an approximate 140,659 meters (461,480 feet) in 628 drill holes have been conducted
by the company and its past major joint venture partners to test the PGM mineralization of the
River Valley PGM Deposit. Several independe
nt 43
-
101 compliant resource estimates have
previously been generated for the deposit through the development phases.
The River Valley
Deposit’s present resource, with approximately 3.9 PdEq ounces in Measured Plus Indicated
mineral resources and near
-
surf
ace mineralization covers over 16 kilometres of continuous
strike length.
New Age Metals
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Table
3
: 2015 to 2017 Drill Activity at the River Valley PGM Deposit
–
Footwall Mineralization
Drill Hole
Year
Meterage (m)
Interval (m)
Au g/t
Pt g/t
Pd g/t
3E g/t
Cu %
Ni %
Zone Location
Zone
News Release
2015-DN001
2015
153 to 155
2 m
0.12
0.61
2.19
2.91
N/A
N/A
Footwall
T2/Pine
Mar 2016
and
184 to 187
3 m
0.07
0.43
1.25
1.74
N/A
N/A
Footwall
T2/Pine
and
192 to 209
17 m
0.10
0.70
2.21
3.00
N/A
N/A
Footwall
T2/Pine
including
203 to 207
4 m
0.17
1.17
3.79
5.12
N/A
N/A
Footwall
T2/Pine
2015-DN002
2015
138 to 154
16 m
0.10
0.66
2.07
2.83
N/A
N/A
Footwall
T2/Pine
Mar 2016
including
146 to 152
6 m
0.13
0.97
3.13
4.23
N/A
N/A
Footwall
T2/Pine
DN-T2-03
2016
86 to 102
16 m
0.03
0.15
0.34
0.51
0.06
0.02
Footwall
T2/Pine
Dec 2016
DN-T2-06
2016
172 to 187
15 m
0.13
0.77
2.20
3.10
0.21
0.04
Footwall
T2/Pine
Dec 2016
including
178 to 184
6 m
0.22
1.28
3.78
5.29
0.34
0.05
Footwall
T2/Pine
DN-T2-10
2016
202 to 222
20 m
0.07
0.48
1.44
1.99
0.14
0.03
Footwall
T2/Pine
Dec 2016
including
203 to 205
2 m
0.09
1.05
3.46
4.60
0.24
0.05
Footwall
T2/Pine
DN-T2-11
2016
219 to 235
16 m
0.07
0.46
1.34
1.87
0.14
0.04
Footwall
T2/Pine
Dec 2016
including
219 to 221
2 m
0.11
0.89
3.05
4.05
0.24
0.04
Footwall
T2/Pine
DN-T2-13
2016
181 to 184
3 m
0.09
0.60
1.59
2.28
0.16
0.03
Footwall
T2/Pine
Dec 2016
and
188 to 190
2 m
0.03
0.36
0.81
1.20
0.09
0.03
Footwall
T2/Pine
and
196 to 202
6 m
0.08
0.40
1.14
1.62
0.16
0.03
Footwall
T2/Pine
T3-17-01
2017
193 to 202
9 m
0.08
0.37
1.11
1.56
0.14
0.32
Footwall
T3
Sept 2017
including
196 to 200
4 m
0.10
0.47
1.47
2.04
0.15
0.35
T3-17-02
2017
288 to 299
8 m
0.07
0.33
1.00
1.41
0.17
0.39
Footwall
T3
Sept 2017
including
290 to 292
2 m
0.15
0.54
1.83
2.52
0.26
0.64
T3-17-03
2017
262 to 279
17 m
0.05
0.26
0.81
1.12
0.11
0.03
Footwall
T3
Sept 2017
including
265 to 267
2 m
0.07
0.57
1.96
2.60
0.20
0.04
T3-17-04
2017
4 to 32
28 m
0.11
0.57
1.77
2.45
0.11
0.02
Main Zone
T3
Sept 2017
including
4 to 7
3 m
0.26
1.55
5.32
7.12
0.15
0.03
Main Zone
T3
Including
24 to 30
6 m
0.17
0.96
2.93
4.06
0.20
0.04
Main Zone
T3
and
37 to 41
4 m
0.13
0.83
2.35
3.30
0.19
0.04
Main Zone
T3
and
348 to 355
7 m
0.09
0.39
1.15
1.64
0.11
0.02
Footwall
T3
including
182 to 192
10 m
0.10
0.60
1.87
2.58
0.15
0.03
Footwall
Pine
including
183 to 185
3 m
0.14
0.89
2.92
3.95
0.16
0.04
Footwall
Pine
PZ-17-07
2017
77 to 84
7 m
0.04
0.25
0.77
1.06
0.06
0.02
Footwall
Pine
Oct 2017
PZ-17-08
2017
56 to 70
14 m
0.08
0.48
1.30
2.01
0.15
0.03
Footwall
Pine
Nov 2017
including
66 to 70
4 m
0.09
0.70
2.19
2.98
0.17
0.04
Footwall
Pine
T3-17-06
2017
331 to 334
3 m
0.02
0.11
0.21
0.34
0.02
0.02
Footwall
T3
Nov 2017
New Age Metals
TSX
-
V: NAM OTCQB: PAWEF
101
-
2148 W 38th Ave, Vancouver BC, V6M 1R9
+1.604.685.1870
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The exploration
plans of the company are
to carry out more ground IP geophysics in the
upcoming months (Figure
2
)
. Geophysics will be concentrated into the footwall portion of the
main River Valley PGM Deposit southward of the latest IP survey to cover the area between
targets T4 to T9.
This ar
ea represents a strike length of approximately 2000 metres.
Upon completion of the geophysics, the company will initiate a drill program to test the
anomalies generated from the geophysics. The goal is to examine the potential
for
continuous
PGM mineralization in
to the footwall area eastward of the main River Valley PGM Deposit.
WSP Canada
(News Release:
Sept 7
th
, 2017
)
has started the new resource calculation for the
River Valley PGM Deposit. This work will be supervised by Todd
McCracken
and will incorporate
the past data, new drilling since 2012 and the River Valley Extensio
ns (previous Mustang
Minerals ground).
The company plans to initialize a Preliminary Economic Assessment (PEA)
Report in the future
with WSP Canada
.
In addition, the Company announces that it has granted 200,000 incentive stock options to a
consultant of
the Company at an exercise price of $0.12 per share for a period of five (5) years
from the date of grant in accordance with the Company's Stock Option Plan.
The Stock Options
granted will be subject to vesting restrictions and will vest quarterly over on
e (1) year from the
date of grant. The options are subject to acceptance by the TSX Venture Exchange and will be
subject to regulatory hold periods in accordance with applicable Canadian Securities Laws.
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
Project 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
s
open to expansion
.
The company has recently completed a drill
program
on the Pine and
T3
Zones.
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
New Age Metals
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of the prim
ary 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 holder in the Winnipeg River Pegmatite Field and is seeking JV part
ners 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 geoscientist
f
or 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
N
either the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Vent
ure
Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Statem
ents: 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 his
torical 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”, “p
lan”, “will”, “estimate”, “project”, “goal”, “target”,
“prospects”, “optimistic” or similar expressions.
These statements by their nature involve risks and uncertainties, and actual
results may differ materially depending on a variety of important factors
, including, among others, the Company’s ability and
continuation of efforts to timely and completely make available adequate current public information, additional or different
regulatory and legal requirements and restrictions that may be imposed, and ot
her factors as may be discussed in the
documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk
factors that could cause actual results to differ from those contained in the forward
-
looking sta
tements.
The Company does
not undertake any obligation to review or 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 t
he occurrence of
unanticipated events.
Investors should not place undue reliance on forw
ard
-
looking statements.