New Age Metals Inc. Harry Barr, Chairman & CEO, announced that River Valley is the largest undeveloped primary PGM resource in Canada, the March 2018 NI 43-101 has updated the 2012 resource. The River Valley PGM Project has excellent infrastructure and is within 100 kilometers of the Sudbury Metallurgical Complex. The project is 100% owned by New Age Metals. Estimate: 4,626,250 PdEq ounces, with 2,713,933 ounces in Inferred at a 0.4 g/t cut-off. Their stated objective now is to increase the resource resource base beyond 1 Million oz of platinum in the northern portion of the Footwall PGM mineralization, “The Pine Zone/T3”, a new discovery and additional source of PGMs at the River Valley Project (RVP), was included in the new resource model.
Winter ground IP geophysics report to be interpreted by Alan King to help identify further drilling in the northern portion of the project and the new targets from T3-T9.
Geological interpretation of the March 2018 NI 43-101 geophysical report is ongoing to target and better define the summer/fall 2018, winter 2019 drill programs.
Advanced stage mineralogical testing is ongoing in Sudbury at Expert Process Solutions (XPS).
Lithium Division: A minimum of $500,000 will be expended in 2018 on the companies Lithium division by New Age Metals option/joint venture partner Azincourt Energy Corp. The 2018 budget will allow for 2 out of the 3 drill ready projects to be drilled. New Age Metals technical team is the field manager.
The resource estimation of the River Valley Platinum Group Metals (PGM) Project. WSP Canada Inc. (WSP) was conducted under the supervision of Todd McCracken, P. Geo., who completed the resource estimation. Management concludes that this study has upgraded the bulk mining potential of this project. The River Valley PGM Project continues to grow and we are focusing our efforts on creating shareholder value with distinct project objectives. The first objective is establishing a minimum ounce bank in the northern portion of the project that would allow the company to economically open pit mine, crush, and concentrate on site and then ship the concentrates to the Sudbury Metallurgical Complex. The second objective is to continue to explore and develop the entire 16 kilometers of mineralization throughout the contact zone (current established resource) and test the new footwall discovery that has potential to extend throughout the overall project.
Additional information: http://newagemetals.com/river-valley-pgm-project/?utm_source=WhatCountsEmail&utm_medium=email&utm_campaign=New%20Age%20Metals%20News%20Spotlight%20March%2021%202018INN_FullListINN%20Company%20Spotlight
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