New Age Metals Inc. (TSXV:NAM) has reported news from its operations and exploration projects. The company has successfully acquired a mineral exploration license (MEL) area covering an impressive 30,668 hectares surrounding Red Cross Lake, Manitoba. This marks NAM’s third property acquisition of 2023, with the newly acquired Northman Lithium Project being a significant addition to its portfolio. The MEL covers an extensive 28 km stretch of the North Kenyon Shear Zone, which encircles an LCT pegmatite swarm found at Red Cross Lake.
Historical assays of the pegmatite have revealed up to 1.25% Li2O and 2.86% Cs2O (LPG pegmatite) and 2.97% Li2O (SPG pegmatite). The Northman Lithium Project is situated within the underexplored Oxford-Stull domain in Northern Manitoba’s Red Cross Lake greenstone belt, known for its highly fractionated lithium-bearing pegmatites. All claims related to this project are held by Lithium Canada Development, a 100% owned Lithium Division of New Age Metals.
Harry Barr, Chairman and CEO of New Age Metals Inc. commented in a press release: “It is fantastic to see our research efforts and diligence paying off with the addition of this highly prospective ground. While we work and develop our Southeast Manitoba projects through the joint venture with Mineral Resources Ltd., we intend to be a leader and prospect generator for green metals in Canada. Our three recent 100% owned project acquisitions now give us a large lithium focused portfolio with excellent exploration targets in Northern Manitoba. Together with our technical team from Axiom Exploration Group Ltd., we are currently working on a comprehensive go-forward exploration plan for these properties as we patiently await the snow to melt so our crew can get boots on the ground.”
Highlights from the Northman Lithium Project are as follows:
- Along trend of lithium bearing pegmatites documented at Red Cross Lake
- LPG Pegmatite:
- Lepidolite and Pollucite rich pegmatite swarm with 17 parallel and sheared dykes up to 4 meters in width over an area of ~50 meters
- Work by the Geological Survey of Canada in the 1960’s identified the rubidium and cesium potential of these pegmatites, with one sample assaying 2.86% CsO, 1.29% RbO, and 1.26% Li 1
- SPG Pegmatite:
- Spodumene-bearing dyke with grab samples assaying up to 2.97% LiO
- LPG Pegmatite:
- In terms of K/Rb ratios, the pegmatites in the Red Cross area are ranked with the most evolved spodumene pegmatites worldwide
- Large leucogranite intrusions within the MEL zone that occur up to 5 km long and attain a maximum width of 90 meters. Thin-section analysis of these units identified the presence of spodumene and quartz replacing petalite
- Property covers 30 km of strike extent of the North Kenyon Shear Zone, a regional-scale structure in which “the pegmatitic rocks are situated within, or closely adjacent to” 4,5
- Identified targets from regional magnetics that are analogous to those hosting rare-metal pegmatites at Red Cross Lake.