New Age Me­tals be­gins drilling at River Val­ley

Stockwatch Daily - - MINES & METALS - Mr. Harry Barr re­ports

NEW AGE Me­tals Inc.’s 2017 drill pro­gram has com­menced on the Pine zone at the River Val­ley platinum group metal project ap­prox­i­mately 100 kilo­me­tres from Sud­bury, Ont. The In­duced po­lar­iza­tion (IP) geo­phys­i­cal sur­vey and bore­hole geo­physics have been com­pleted by Abitibi Geo­physics, and a fi­nal re­port will be gen­er­ated. The com­pany will fo­cus the ex­plo­ration on drill test­ing the pre­vi­ous PGM min­er­al­iza­tion in the Pine zone and the rec­om­men­da­tions from the geo­phys­i­cal in­ter­pre­ta­tion re­port.


• Abitibi Geo­physics has com­pleted the sur­face IP geo­phys­i­cal pro­gram and bore­hole geo­physics.

• Drilling will fo­cus on fol­low-up drilling to fur­ther test the con­tin­u­a­tion of the Pine zone.

• Fur­ther drilling will drill test the geo­phys­i­cal in­ter­pre­ta­tion of Abitibi Geo­physics.

• River Val­ley is the largest un­de­vel­oped pri­mary PGM re­source in Canada, with 2.5 mil­lion ounces PGM in mea­sured plus in­di­cated min­eral re­sources and near-sur­face min­er­al­iza­tion cover­ing over 16 kilo­me­tres of strike.

The Pine zone is one of nu­mer­ous prospec­tive PGM zones within the district-scale River Val­ley PGM project and was re­cently drilled in the fall of 2016 (press re­lease dated Dec. 13, 2016). The 2016 drill pro­gram con­firmed the higher-grade, near-sur­face PGM dis­cov­ery made in the 2015 drill pro­gram (press re­lease dated March 11, 2015) and high­lighted the con­ti­nu­ity of the min­er­al­iza­tion for 200 me­tres along strike and 100 to 200 me­tres deep at the Pine zone. The Pine zone re­mains open along strike and at depth.

The sur­face geo­phys­i­cal sur­vey was de­signed to test the east­ward and south­ward ex­ten­sion of the Pine zone, as well as the ad­ja­cent Dana North zone. The ex­ten­sion of the IP sur­vey is de­signed to test the depth po­ten­tial of the Ban­shee zone. The sur­vey will aid in the generation of new tar­gets for fol­low-up drill test­ing. The di­a­mond drill crew is cur­rently on site and will be­gin drilling to test the on-strike and depth ex­ten­sions of the Pine zone as a con­tin­u­a­tion of the 2016 drilling (press re­lease dated Dec. 13, 2016). Ap­prox­i­mately 15,000 feet of drilling is planned in this pro­gram.

Abitibi Geo­physics will gen­er­ate a fi­nal re­port and in­ter­pre­ta­tion of the IP geo­phys­i­cal sur­vey. This re­port will rec­om­mend ad­di­tional drill tar­gets. These tar­gets will be on the Pine and Ban­shee zones. Ap­prox­i­mately two kilo­me­tres of untested po­ten­tial for dis­cov­ery of ad­di­tional min­er­al­iza­tion cur­rently ex­ist along strike be­tween the cur­rent drilled ex­tent of the Pine zone and the un­der­ex­plored Pardo zone to the north­west.

This present ex­plo­ration ac­tiv­ity of drilling and geo­physics is geared to es­tab­lish the re­source base for a pre­lim­i­nary eco­nomic as­sess­ment (PEA) re­port, which the com­pany plans to ini­tial­ize in the near fu­ture.

To date, an ap­prox­i­mate 612 holes (136,574 me­tres) have been con­ducted by the com­pany and its past joint ven­ture part­ners to test the PGM min­er­al­iza­tion ex­tents of the River Val­ley in­tru­sion. As well, sev­eral Na­tional In­stru­ment 43-101-com­plaint re­source es­ti­mates have been gen­er­ated. The River Val­ley deposit is the largest un­de­vel­oped pri­mary PGM re­source in Canada, with 2.5 mil­lion ounces PGM, in mea­sured plus in­di­cated min­eral re­sources and near-sur­face min­er­al­iza­tion cover­ing over 16 kilo­me­tres of con­tin­u­ous strike length.

The com­pany will con­tinue to up­date in­vestors as the drill re­sults are re­ceived.

Qual­i­fied per­son

The con­tents con­tained herein that re­late to ex­plo­ration re­sults or min­eral re­sources are based on in­for­ma­tion com­piled, re­viewed or pre­pared by Carey Galeschuk, a con­sult­ing geo­sci­en­tist for New Age Me­tals. Mr. Galeschuk is the qual­i­fied per­son as de­fined by Na­tional In­stru­ment 43-101 and has re­viewed and ap­proved the tech­ni­cal con­tent of this news re­lease.

We seek Safe Har­bor.

Harry Gor­don Barr, Colin Bird, John W Londry, Michael Fran­cis Neu­mann

(NAM) Shares: 68,439,503

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