Updates ON Manitoba Lithium Projects 2017
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TSX-V: NAM OTCQB: PAWED
NEW AGE METALS INC.
UPDATES on MANITOBA LITHIUM PROJECTS 2017
Five 100% owned Lithium Pegmatite Projects, in SE Manitoba, Canada
Projects are situated in the Winnipeg River -Cat Lake Pegmatite Field that hosts the world -class
Tanco Pegmatite
The region has seen Lithium -bearing minerals mined in the past and contains numer ous Lithium-
bearing Pegmatites.
2016 field work was focused on ground proofing many of the historically known Lithium
Pegmatites.
Two projects are drill ready, with drilling planned for 2017
February 22, 2017 - Vancouver, Canada – New Age Metals Inc. (formerly Pacific North West
Capital Corp. ) (“NAM”, the “Company”) (TSXV: NAM; OTCQ B: PAWE D; Frankfurt: P7J.F) is
pleased to provide an update to the Lithium Pegmatite Projects in Southeast Manitoba. The
projects are held under NAM’s 100% owned subsidiary, Lithium Canada Development Inc.
The five Lithium Pegmatite projects , which the company holds , are situated in the Winnipeg
River-Cat Lake Pegmatite Field of SE Manitoba. This pegmatite field (Figure 1) is host to the world-
class Tanco Pegmatite , which is a highly -fractionated, Lithium-Cesium-Tantalum (LCT) –type
pegmatite that has been mined at the Tanco Mine, in various capacities, since 1969 for Lithium-
bearing minerals (Spodumene), Tantalum, Beryllium, Rubidium and Cesium. The Tanco Mine is
presently owned by the Cabot Corporation. There are no current NI 43-101 compliant resources,
but a cademic reports suggest that the Tanco Pegmatite , prior to the start of mining , was
approximately 1520 metres long, 1060 metres wide and up to ~100 metres thick, with a volume
of ~21,850,000 m3 and a mass of about 57,430,000 tonnes.
Field work carried out by NAM in 2016 was focused on ground proofing many of the historically
reported pegmatites in the project region. Four out of five projects were examined. The best
results from surface sampling came from the Lithium One (news release December 8th, 2016) and
Lithium Two Projects (news release November 17th, 2016). Each project is drill ready.
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Figure 1: Approximate Outline of the Winnipeg River-Cat Lake Pegmatite Field
(Lithium Canada claim locations in green and the Tanco Mine Leases in red)
Figure 2: Lithium Projects in SE Manitoba
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Lithium Two Project
The Lithium Two Project is located approximately 145 kilometres NE of Winnipeg, Manitoba and
21 kilometres north of the Tanco Mine Site. The project overlies part of the Cat Lake portion of
the Winnipeg River - Cat Lake Pegmatite Field. The project is accessible via a major gravel covered
provincial highway through the area. Two Spodumene-bearing pegmatites were examined during
the 2016 summer field seaason; the Eagle and the FD 5 Pegmatites.
The Eagle Pegmatite has been reported to be exposed at surface as a series of lenticular
Spodumene-bearing Dykes, over a distance of about 823 metres . Approximately 200 metres of
the exposure area was examined in the 2016 field program. In 1947, drilling of the Eagle
Pegmatite estimated that there w as 545,000 tonnes (600 000 tons) of Spodumene , with an
average content of 1.4% Li 2O, to a depth of 60 metres (200 feet). This is a historic estimation
and is not NI 43-101 compliant. The Eagle Pegmatite remains open to depth. The 2016 surface
sampling yielded chip samples, across the pegmatite, up to 3.04% Li2O.
The F.D. No. 5 Pegmatite is exposed over an area of 15 metres. The best surface assay was 2.08%
Li2O, over a 1.5 m chip sample. The Pegmatite has not previously been drill tested.
The Lithium content over each of the sampled Pegmatites is extremely positive. In addition,
Tantalum, Cesium and Rubidium contents are enriched, as expected, for a Lithium-Cesium-
Tantalum (LCT) Type Pegmatite. LCT Type Pegmatites are the deposit types sought after, in
Lithium Exploration. The Tanco Pegmatite is a LCT Type Pegmatite.A 2500 metre drill program
is planned for the Eagle and FD 5 Pegmatite.
Figure 3: Geology of the Lithium Two Project, SE Manitoba
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Lithium One Project
The Lithium One Project is located 125 kilometres NE of Winnipeg, Manitoba and is also located
in the Cat Lake-Winnipeg River Pegmatite Field. Historically, the project area is known for the
presence of numerous surface Pegmatites of various dimensions and compositions. The first
commercial Spodumene production in Canada, occurred in this region in the 1920s.
The Company examined and sampled several of the known Lithium -bearing Pegmatite s.
Numerous Pegmatites and Pegmatite swarms were not sampled, due to access difficulties and
will be prospected at a later time. The Silverleaf and Annie Pegmatites yielded the best Lithium
assays.
The Silverleaf Pegmatite is a zoned complex Lithium-bearing Pegmatite, with a surface exposure
of approximately 80 metres x 45 metres. It was the largest pegmatite reviewed. Samples taken
from the Lepidolite-Spodumene Zone yielded assays from 1.30% to 2.43% Li2O, 0.15% to 2.08%
Rb2O and 104 ppm to 447 ppm Ta 2O5. This zone is approximately 50 metres x 20 metres in size
and extends into a historic excavated open pit. The open pit originates from the late 1920s, when
a bulk sample of Spodumene was mined , from the southwest side of the S ilverleaf Pegmatite.
Large scale mining operations were not undertaken at the time , due to changes in the market
conditions and commodity prices . A sample from the historically mined Spodumene rock pile ,
returned values up to 4.33% Li2O.
Figure 4: Lithium One Project Pegmatites Examined in 2016
The Annie Pegmatite is exposed on surface, for an approximate area of 15 metres x 90 metres.
Samples returned assays of 0.10% to 0.64% Li 2O and 0.21% to 0.81% Rb 2O. Other Pegmatites
returned elevat ed levels of Lithium. Due to the zoned nature of some of the Pegmatites,
additional Lithium-rich zones may exist that are not exposed on surface.
A drill program of 3 500 metres is proposed for 2017, to test several of the surface exposed
Pegmatites. To date, the company has approximately 6,318 hectares (15,612 acres) of mineral
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claims, with Lithium Mineral Potential in the Cat Lake -Winnipeg River Pegmatite Field of SE
Manitoba. NAM is the largest mineral claim holder in the Pegmatite Field. As part of the
Company’s Prospector Generator Model, negotiations are currently ongoing with interested
3rd parties, for possible Option/Joint Ventures and other Exploration Initiatives.
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 NW Ontario (60 kilometres due east of Sudbury,
Ontario). Presently, the River Valley Project h as 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 for a
PdEq of 2,463,000 ounces PGM, plus Gold. River Valley PGM-Copper-Nickel Sulphide mineralized
zones remain open to expansion and is undergoing continued exploration.
QUALIFIED PERSON
The contents contained herein , which relates to Exploration Results or Mineral Resources , is
based on information compiled, reviewed or prepared by Dr. Bill Stone, Principal Consulting
Geoscientist for New Age Metals . Dr. Stone is a 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
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 Statements: 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
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others, the Company’s ability and continuation of efforts to timely and completely make available adequate current public
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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 statements. The Company does not undertake any obligation to r eview 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 the occurrence of unanticipated events. Investors should not place undue reliance on forward-
looking statements.