- New Age Metals Inc. (NAM) announces the filing of an independent Technical Report in accordance with NNI 43-101 on its River Valley Palladium Deposit, near Sudbury, Ontario
- The River Valley Property hosts a magmatic contact type palladium-platinum-gold deposit located in northeastern Ontario, approximately 60 kilometres northeast of Sudbury
- The Mineral Estimate includes record of a $25/tonne NSR cut-off, pit constrained Measured and Indicated Mineral Resources containing 1.96 million ounces palladium-platinum-gold at $60.5/t NSR and Inferred Mineral Resources containing 1.12 million ounces at $41.5/tonne NSR
- Recommendations include an in-fill drilling to convert Inferred to Indicated Mineral Resources and exploration drilling down-dip/down-plunge of the mineralized zones to potentially expand the Mineral Resources at depth
- The local infrastructure, business community and populace of the region are well equipped to service the infrastructure and technical requirements of exploration and mining activities
- New Age Metals Inc. (NAM) is unchanged trading at $0.13 per share as of 3:34 p.m. ET
New Age Metals (NAM) has filed an independent Technical Report in accordance with NNI 43-101 on its River Valley Palladium Deposit in Ontario.
Highlights from the 2021 Mineral Resource Estimate include:
- A cut-off of $15/tonne Net Smelter Return (NSR), pit constrained Measured and Indicated Mineral Resources contain 2.25 million ounces palladium-platinum-gold at $47.6/tonne NSR and Inferred Mineral Resources of 1.59 million ounces at $31.1/tonne NSR.
- A $25/tonne NSR cut-off, pit constrained Measured and Indicated Mineral Resources contain 1.96 million ounces palladium-platinum-gold at $60.5/t NSR and Inferred Mineral Resources contain 1.12 million ounces at $41.5/tonne NSR.
- Out-of-pit constrained Measured and Indicated Mineral Resources contain 31,000 ounces palladium-platinum-gold within 642,000 tonnes at $88.5/tonne NSR and Inferred Mineral Resources contain 62,000 ounces at a $50/tonne NSR cut-off.
- The predominant contribution of palladium-platinum to the NSR value (88.4 per cent) is noteworthy, given the rarity of such true platinum-group metal deposits in mining jurisdictions globally.
- Recommendations include a in-fill drilling to convert Inferred to Indicated Mineral Resources and exploration drilling down-dip/down-plunge of the mineralized zones to potentially expand the Mineral Resources at depth
The River Valley Property hosts a magmatic contact type palladium-platinum-gold deposit located in northeastern Ontario, approximately 60 kilometres northeast of Sudbury, Ontario.
The property consists of two mining leases, 310 single cell mining claims and 18 boundary cell mining claims located within the Dana, Janes, McWilliams, and Pardo Townships in the Sudbury Mining Division.
The two mining leases and surrounding claims total approximately 10,700 hectares.
New Age Metals Inc. (NAM) is unchanged trading at $0.13 per share as of 3:34 p.m. ET.