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New Age Metals Inc.
Summary
| Project: | Genesis | |
|---|---|---|
| Deposit: | Genesis | |
| Location: | United States | |
| Commodities: | Platinum-Palladium-Copper-Nickel | |
| Date: | 12/14/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 14-12-2018: New Age Metals Inc. announces a Supporting Acquisition report for its Genesis deposit at the Genesis project. Revised summary of property in support of acquisition. The Genesis project is a Ni-Cu-PGE property located in the northeastern Chugac | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Curtis Freeman (Avalon Development Corp.) | |
| ABSTRACT: | The Genesis project is a Ni-Cu-PGE property located in the northeastern Chugach Mountains, 75 road miles north of the city of Valdez, Alaska. The project is within 3 km of the all-season paved Richardson Highway and a high capacity electric power line. The project is covered by 4,144 hectares of State of Alaska mining claims owned 100% by New Age Metals. Past exploration has revealed the presence of chromite-associated platinum and palladium mineralization and stratabound Ni-Cu-PGE mineralization within steeply dipping magmatic layers of the Sheep Hill portion of the Tonsina Ultramafic Complex. Pyrrhotite, pentlandite, and chalcopyrite occur in disseminations and net textured segregations associated with disseminated to banded chromite within a 150 meter thick steeply north dipping layer of dunite and lherzolite just north of the Border Ranges Fault zone. The mineralized horizon has been identified in outcrop sampling for 850 m along strike and a 40 m true thickness. PGE values at Genesis are strongly correlated with the chromite rich portions of the mineralized horizon, while Ni and Cu are strongly correlated with sulfide rich portions of the mineralized horizon. Metal grades are regular over multiple meter intervals, including 6 meters grading 804 ppb platinum and 1,018 ppb palladium, and 12 meters grading 5,938 ppm nickel. There has been no drilling on this district-scale project and the strike and depth extent of Ni-CuPGE mineralization remains untested. Additionally, two areas of banded chromite hosted in dunite and harzburgite on the Bernard Mountain portion of the Tonsina Ultramafic Complex host multiple ppm PGE and a sample of chromite hosted in the olivine websterite unit contains the high values for both Pt and Pd for a combined 5,340 ppb PGE. Outcrop sampling has returned values of 16-9,660 ppm Ni, 0.5-5,800 ppm Cu, 0-2,800 ppb Pt, 0-2,540 ppb Pd. Limited geochemical sampling and geologic mapping has been conducted over these two maficultramafic massifs. | |
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