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New Age Exploration Ltd.
Summary
| Project: | Redmoor | |
|---|---|---|
| Deposit: | Redmoor | |
| Location: | United Kingdom | |
| Commodities: | Tungsten-Tin-Copper | |
| Date: | 9/20/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 20-9-2018: New Age Exploration Ltd. announces an Exploration/Drilling Update report for its Redmoor deposit at the Redmoor project. Drilling results incl. 14.10m @ 0.74% Cu, 0.17% Sn, 0.68% WO3 from 420.25m. New Age Exploration (“NAE” or “the Company”) is | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Paul Gribble (Geologica UK) | |
| ABSTRACT: | New Age Exploration (“NAE” or “the Company”) is excited to announce the outstanding results from the first two holes of the 2018 Phase 1 drilling program at its Redmoor Tin‐Tungsten Project, being undertaken through its 50% owned joint venture vehicle Cornwall Resources Limited (“CRL”). NAE Managing Director Gary Fietz commented: “These results have exceeded our expectations and continue to demonstrate the potential for a larger higher‐grade resource extending to depth and increasing in grade with depth at Redmoor. Based on the outstanding results to date from the Phase 1 program, we expect to be providing an update within a month on the additional drilling plans being prepared by CRL which will pave the way for commencement of a PFS in 2019”. Introduction 2018 PHASE 1 DRILLING PROGRAM In June 2018, CRL began its 2018 Phase 1 drilling program aimed at further increasing the tonnage and grade of the high‐grade tin‐tungsten‐copper resource within the Sheeted Vein System at its Redmoor Project, which presently stands at an Inferred resource of 4.5 Mt @ 1.0% SnEq1. The seven‐hole Phase 1 program was funded by SML and NAE each having contributed £332,000 for the program. Assay results for the first two holes, CRD021 and CRD022 have now been received from the laboratory (ALS Loughrea) and are reported herein. Drilling of 3 further holes (CRD023, CRD024 and CRD025) of the Phase 1 program is now complete and these holes are in the process of being sampled and analysed. All three holes have intersected multiple zones of tungsten and copper mineralisation of a similar appearance to that in CRD021 and CRD022. The final two holes of Phase 1 are underway and are expected to complete drilling in early October 2018. Due to encouraging mineralisation, the majority of holes have been slightly extended beyond planned depths, with the total drilled depth for the Phase 1 program now forecast to be around 4,200 m. | |
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