New Age Metals Inc. (TSXV: NAM; OTCQB: NMTLF) has filed an independent Technical Report on its 100% owned River Valley Palladium Deposit, near Sudbury, Ontario.
Highlights of the updated 2021 Mineral Resource Estimate include:
- At a cut-off of C$15/t NSR, pit constrained Measured and Indicated Mineral Resources contain 2.25 Moz Pd+Pt+Au within 89.0 Mt grading 0.79 g/t Pd+Pt+Au or at C$47.6/t NSR and Inferred Mineral Resources of 1.59 Moz Pd+Pt+Au within 92.7 Mt grading 0.53 g/t Pd+Pt+Au or at C$31.1/t NSR.
- At a $C25/t NSR cut-off, pit constrained Measured and Indicated Mineral Resources contain 1.96 Moz Pd+Pt+Au within 60.1 Mt grading 1.02 g/t Pd+Pt+Au or at C$60.5/t NSR and Inferred Mineral Resources contain 1.12 Moz within 48.4 Mt grading 0.72 g/t Pd+Pt+Au or at C$41.5/t NSR.
- Out-of-pit constrained Measured and Indicated Mineral Resources contain 31,000 ounces Pd+Pt+Au within 642,000 tonnes grading 1.49 g/t Pd+Pt+Au or at C$88.5/t NSR and Inferred Mineral Resources contain 62,000 ounces within 1.6 Mt grading 1.21 g/t Pd+Pt+Au or at C$$68.1/t NSR, at a C$50/t NSR cut-off.
- The predominant contribution of Pd + Pt to the NSR value (88.4%) is particularly noteworthy, given the rarity of such true platinum-group metal deposits in secure and established mining jurisdictions globally.
- Recommendations include in-fill drilling to convert Inferred to Indicated Mineral Resources and exploration drilling down-dip/down-plunge of the mineralised zones to potentially expand the Mineral Resources at depth.
The updated 2021 Mineral Resource Estimate is based on all historical and 2020 diamond drilling, more conservative mineralised domain wireframing strategy and revised mineralized domain modelling, inverse distance grade interpretation methodology, and higher overall metal prices, particularly for palladium. As a result, Measured and Indicated Mineral Resources increased compared to the 2019 updated Mineral Resource Estimate.
At the C$15/t NSR cut-off, the pit constrained Measured & Indicated Mineral Resources total of 89 Mt grading 0.79 g/t Pd+Pt+Au (2.3 Moz) reported herein significantly exceeds the potentially extractable Mineral Resources total of 78 Mt grading 0.79 g/t Pd+Pt+Au (2.0 Moz) reported in the 2019 Preliminary Economic Assessment of River Valley.
Pre-Feasibility Study Update
A Pre-Feasibility Study of the River Valley Palladium Project was announced in April 2021. A progress update was announced on November 10, 2021. At this point, the final batch of assay results for fresh drill core samples from the Dana North, Dana South, Lismer North and Lismer Ridge Zones should be delivered by SGS Canada Inc. this week. The geomechanical and hydrogeological site investigation studies by Knight Piésold Ltd. are largely completed, whereas the geotechnical site investigation studies are ongoing. Story Environmental continued baseline environmental studies of the River Valley Property and working towards establishing meaningful relationships with local Indigenous Communities.
Palladium Exploration Update
At this point in 2021, four Mineral Resource expansion holes totalling 1,277 m have been drilled at the Banshee Zone, which is located between the Dana Zones to the North and the Lismer Zones to the northeast and east.
Mineralisation was intersected in the drill holes and assays are pending from the laboratory. Near the Dana South Zone, a new trench has been excavated and more mineralisation exposed to the east adjacent to the mineralised domain. Channel samples have been taken of the mineralisation and assays are pending from the laboratory.
For further information please visit: https://newagemetals.com/
