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New Age Metals Inc.
Summary
| Project: | River Valley | |
|---|---|---|
| Deposit: | River Valley | |
| Location: | Canada | |
| Commodities: | Platinum-Palladium-Gold-Copper-Nickel-Cobalt | |
| Date: | 1/15/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing PEA | |
| Report details: | 15-1-2019: New Age Metals Inc. announces a Resource Estimation report for its River Valley deposit at the River Valley project. Updated mineral resource estimate at project. The River Valley Property (the Property) is a magmatic contact-hosted platinum- p | |
| Resources: | (Resource, M+I): 99.178Mt @ 0.90g/t PdEq for 2.377Moz PdEq contained at project | |
| CP/QP: | [Resources]: Todd McKracken (WSP Canada Inc.) | |
| ABSTRACT: | The River Valley Property (the Property) is a magmatic contact-hosted platinum- palladium-gold (platinum group elements (PGE)) project located in northeastern Ontario, approximately 60 km northeast of Sudbury. Sudbury is one of the largest metallurgical complexes in North America with several operating mines, two sulphide concentrator mills, two nickel-copper – PGE smelters, and a nickel refinery. The Property claim group consists of thirty claim units and two mining leases that cover approximately 6,688 ha, and are centered at approximately 555371 mE and 5172514 mN (North American Datum (NAD) 83-Universal Transverse Mercator (UTM) Zone 17T). The claims are currently 100% owned by New Age Metals Inc. (NAM) formerly known as a Pacific North West Capital (PFN). The Property has seen extensive exploration, which started in earnest in 1999 with work by NAM. Approximately $40 million has been spent on the Project by NAM and their joint venture partner. To date a total of 710 boreholes have been completed on the Property. Surface mineralization has been identified for approximately 16 km of strike along a contact zone of the River Valley Intrusion. This includes 4 km of the recently acquired River Valley Extension, where approximately $5 million was expended and a previous 84 drillholes were completed. To date, eight mineralized zones have been diamond drill delineated along the 16 km of strike. The mineralization has been mainly drill tested to less than 300 m vertical in the Dana North / Dana South Zones and to less than 200 m vertical in the other mineralized zones. An Induced Polarization surveys were completed in the summer of 2017 and the winter of 2018 has identified numerous anomalies, including the recently discovered Pine Zone occurring in the footwall of the Dana North Zone. WSP Canada Inc. (WSP) has been commissioned to generate a new resource estimate and technical report. This report has been prepared in accordance with National Instrument 43-101 (NI 43-101) and the Form 43-101F1. | |
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