New Age Metals prepares to meet the demands of a greener energy future
Platinum Group Metals (PGMs) are six noble precious metallic elements clustered together in the periodic table. They have similar physical and chemical properties, and tend to occur together in the same mineral deposits. PGMs are classified as rare precious metals which include palladium, platinum, rhodium, ruthenium, iridium and osmium.
Used in a variety of different applications, the primary use for PGMs (80%) is in catalytic converters, which convert harmful gases produced by hydrocarbon emissions in vehicles into less-harmful substances.
Palladium is currently red hot – Priced at USD $1,482/Oz, worth more than even gold at USD $1,331/Oz.
Palladium is now more valuable than gold
New Age Metals Inc. (TSXV: NAM | OTCQB: NMTLF) is a mineral exploration company focused on the exploration and development of platinum group metals (includes palladium) and lithium. The Company’s flagship is their 100% owned River Valley PGM Project in Canada. They also have options to purchase and JV in several lithium projects, and the Genesis PGM/Base Metals Project.
New Age Metals projects summary
The River Valley PGM Project (flagship)
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The River Valley Project is located in the Sudbury region of Northern Ontario. Exploration and development programs on the River Valley property include more than 600 holes drilled and several mineral resource estimates. Overall, the River Valley PGM deposit is 16 kilometres+ of mineralized deposit. The Company states that their project is Canada’s largest primary platinum group metals deposit.
The River Valley Project location map
The River Valley Project – NI 43-101 Mineral Resource Estimate
An amended NI 43-101 Mineral Resource Estimate that was announced January 9, 2019, confirms that the River Valley Project has 2,867,000 Measured and Indicated PdEq ounces, with 1,059,000 PdEq ounces in Inferred at a 0.35 g/t and 2.0 g/t PdEq cut-off for open pit and underground respectively. Management believes this study has upgraded the open pit bulk mining potential of this project.
The River Valley Project contained metals
2019 will see further drilling and the Project’s first PEA slated to be completed on or before the end of Q2 2019.
Lithium One Project (Manitoba, Canada)
The 100% owned Lithium One Project is a historically known pegmatite rich area and contains several lepidolite and spodumene bearing pegmatites. Small tonnages of spodumene were hand mined during the late 1920’s from the Silverleaf Pegmatite. In 2016 the Company carried out a small ground proofing program to confirm the historic lithium assays of several of the pegmatite bodies as well as the larger pegmatitic granite. Field surface sampling yielded assays for the Silverleaf Pegmatite up to 4.33% Li2O, 2.08% Rb2O and 0.04% Ta2O5.
Lithium Two Project (Manitoba, Canada)
The Lithium Two Project is also a historical known bearing pegmatite deposit. Two main pegmatite bodies exist on the property, the Eagle and the FD No. 5 Pegmatite. In 2016 the company carried out a small ground proofing program to confirm the historic lithium assays. Field surface sampling yielding assays for the Eagle Pegmatite up to 2.44% Li2O and assays up to 3.04% Li2O for the FD No. 5 Pegmatite.
In total, New Age Metals has 8 lithium projects, of which 2 are drill ready.
Genesis PGM/Poly-metallic Project (Alaska)
The Genesis PGM Project is an underexplored, highly prospective, multi-prospect drill ready Palladium (Pd) – Platinum (Pt) – Nickel (Ni) – Copper (Cu) property in Alaska. The Company is seeking to explore JV options with qualified companies.
New Age Metals has enormous exploration upside in key future metals such as the PGMs, lithium, and base metals. Each of these metals is experiencing large demand pulls as the world moves rapidly to greener energy solutions.
Matthew Bohlsen is a Senior Editor for InvestorIntel.com. With a Graduate Diploma in Applied Finance and Investment, and a Graduate Diploma in Financial Planning. He ... <Read more about Matthew Bohlsen>