New Age Metals Signs Exploration Agreement with Sagkeeng First Nation Manitoba
October 25, 2018 (Source) —
- On October 22, 2018 NAM and the Sagkeeng Anicinabe Nation (Sagkeeng) signed an Exploration Agreement. The objective of the agreement is to promote a cooperative and mutually respectful relationship concerning certain mineral exploration projects being developed by NAM, and any additional mining claims or properties in which NAM may acquire an interest, located within Sagkeeng Traditional Territory.
- NAM has eight pegmatite hosted Lithium Projects in the Winnipeg River Pegmatite Field, located in SE Manitoba
- The mineral claims are 100% owned by NAM’s Lithium Division, Lithium Canada Development, and an Option/Joint Venture has been signed on the claims with Azincourt Energy Corp. (AAZ).
- The eight projects are strategically situated within the Winnipeg River Pegmatite Field, which hosts the world class Tanco Pegmatite that has been mined for Tantalum, Cesium and Spodumene (one of the primary Lithium bearing minerals) in varying capacities, since 1969.
- Drill permits have been applied for on the Lithium Two and Lithium One Projects and the signing of this agreement with Sagkeeng has outlined a clear path to receive the approvals.
New Age Metals Inc. (NAM) (TSX.V: NAM; OTCQB: NMTLF; FSE: P7J.F) New Age Metals is pleased to provide an update on our Lithium division in Manitoba.
Harry Barr, Chairman & CEO stated, “By signing this Exploration Agreement the Company believes that there is a structured method to work constructively with the Sagkeeng Nation in regards to the exploration and development of any of the company’s claims that are located on traditional Sagkeeng territories. Going forward, NAM has agreed to complete desktop archaeological studies on the areas in which exploration and development activities will be conducted. These studies will help to expedite the drill application approval process and to conduct our drill objectives. Once desktop archaeological assessments are completed, NAM expects to begin drilling shortly thereafter.”
The company’s Lithium Division, Lithium Canada Developments, has an aggressive exploration and development plan for 2018/2019. NAM’s Manitoba projects are financed via an Option/Joint Venture agreement with Azincourt Energy (AAZ) (see News Release Jan 18th, 2018).
Figure 1: Claim map showing priority areas where archaeological studies will be completed as part of the new Exploration Agreement with the Sagkeeng Nation.
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On behalf of the Board of Directors
Harry G. Barr
Chairman and CEO
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