New Age Metals (TSXV:NAM) has released new assay results from its 2022 drilling program at the River Valley Palladium Project near Sudbury, Ontario. The company has completed a total of 1,328m of drilling across six diamond drill holes at the Dana South Zone, located close to the north end of the River Valley Deposit. All six drill holes intersected Pd mineralization, expanding the currently known extents of Pd mineralization. Mineralization at the Dana South Extension Target also remains open to expansion by drilling along strike and at depth.

New Age Metals Chairman and CEO, Harry Barr, commented in a press release: “In terms of Pd grade and zone location, Dana South is one of the most important mineralized zones at River Valley. The fact that there now appears to be even more higher-grade mineralization there than is included in the current Mineral Resource Estimate is very encouraging for the future exploration upside of the River Valley Project. We plan to fully model the drill hole results and expand the Dana South Zone though additional step-out drilling as part of NAM’s 2023 exploration program.

Highlights from the results are as follows:

• DS-22-01:1.553 g/t Pd+Pt+Au (“3E”) and 0.070% Cu over 14 m from 249 m downhole at the Dana South-Extension target 
• DS-22-02: 0.891 g/t 3E and 0.091% Cu over 14 m from 210 m downhole at the Dana South-Extension Target 
• DS-22-03: 1.335 g/t 3E and 0.134% Cu over 41 m from 258 m downhole at the Dana South-Extension Target 
• DS-22-04:1.251 g/t 3E and 0.145% Cu over23 m from 190 m downhole at the Dana South extension Target 
• DS-22-05:2.076 g/t 3E and 0.131% Cu over 63 m from 12 m downhole at the Dana South-SET Target  
• DS-22-06:1.073 g/t 3E and 0.085% Cu over 3 m from 11 m downhole at the Dana South-SET Target 

Dana South Zone 2022 Drilling Program

Two Pd mineralization targets were drilled in September 2022: 1) the Dana South-Extension Target and 2) the Dana South-SET Target (Figure 2).  

Dana South-Extension Drilling Results    

Four drill holes totalling 1,133 m were completed at the Dana South-Extension Target (Table 1). These drill holes were designed to test for mineralization intersected in a 2021 geomechanical drill hole that intersected a thick interval of higher-grade mineralization outside the modelled boundary of Dana South mineralized (see NAM press release dated June 9, 2022). All four 2022 drill holes intersected Pd mineralization. Assay interval highlights are listed in Table 2.

Drill holes DS-22-01 to DS-22-03 were completed on a step-out cross-section 50 m from the previously interpreted, faulted boundary of Dana South (Figure 2).  Drill hole DS-22-01 tested the middle part of the section, returned four mineralized intersections, one of which is higher-grade than the average grade of the current Dana South Mineral Resources (Table 2). DS-22-02, drilled above DS-22-01, intersected 6.803 g/t 3E over 1 m from 197 m downhole. DS-22-03, the deepest hole on the section, returned the best results: 1.335 g/t 3E and 0.134 % Cu over 41 m from 258 m downhole, including 2.010 g/t 3E and 0.156% Cu over 15 m from 268 m downhole and 1.582 g/t 3E and 0.221% Cu over 9 m from 288 m downhole.

Drill hole DS-22-04, completed on an additional 50-m step-out, returned three mineralized intersections. The best of these intersections was 1.251 g/t 3E and 0.145% Cu over 23 m from 190 m downhole, including 1.744 g/t and 0.205% Cu over 13 m from 195 m downhole. In addition, DS-22-04 also intersected mineralization from surface; that is, 0.969 g/t 3E and 0.110% Cu over 10.4 m from bedrock surface (Figure 2). This shallower occurrence of mineralization is known from historical drilling, but the latter is currently too sparse for Mineral Resource estimation.  

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

New Age Metals (TSXV:NAM) has announced that on September 1, 2022 it commenced its maiden drill program at its Lithium One Project in Southeastern Manitoba. The property is located in the Winnipeg River Pegmatite Field known for the numerous Li-bearing pegmatite showings.

Critical to the project is the active exploration agreement the company has with the Sagkeeng First Nation. New Age will work with members of Sagkeeng throughout the project. Sagkeeng will be an important partner in consultation with New Age Metals to ensure that the project is carried out with respect to local needs.

Figure 1: White spodumene blades in a matrix of lepidolite (Lithium Mica) from the Silverleaf showing. Spodumene blades can reach a length of up to 40 centimetres and a width of 10 centimeters.

The Lithium One Property is part of the world-renowned Tanco Pegmatite, which has been mined for Tantalum, Cesium, and Lithium in varying amounts since 1969. The historic presence of several surface Pegmatites of various sizes and compositions in the area surrounding the Lithium One Project has made it famous for its Silver Leaf Pegmatite.

The planned drilling program’s focus is to target the down-dip extension and lateral continuity of the Silverleaf Pegmatite. This will be done with 10 drill holes that go 150 meters deep at surface. The targeting has been better defined by 3D modelling historic drill results as well as newly acquired airborne gradient magnetics data.

The Silverleaf Pegmatite is a highly fractionated Lithium-bearing Pegmatite that dips shallowly. Shallow diamond drilling and trenching have been used to explore the deposit for approximately 170 meters on either side of strike, with a maximum width of about 30 m. The lepidolite-spodumene (lithium-bearing) zone outcrops as three large masses individually up to 23 x 6 m in size.

The open pit began in the late 1920s, when a substantial sample of spodumene was dug from the southwest side of the Silverleaf Pegmatite. Due to fluctuations in market conditions and commodity rates, large-scale mining operations were not attempted at that time.

Figure 2: New Age Metals land holdings, Southeast Manitoba

New Age Metals is a junior mineral exploration and development company with two divisions: Platinum Group Metals & Lithium/Rare Element. Based in North America, their green metal projects have the potential to make a large impact in the near future, and beyond.

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.