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New Age Metals reports new high-grade drill hole intercept at its River Valley Palladium Project in Ontario.

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New Age Metals (TSXV:NAM) (OTCQB:NMTLF) (FSE:P7JF) reports new high-grade drill hole intercept at its River Valley Palladium Project in Ontario. Drill hole KP21-05, completed at the Dana South Zone, returned a long, higher-grade intersection of palladium mineralization lying outside the established boundary of Dana South.

Additional Information:

Company: New Age Metals Inc.
Website: https://newagemetals.com/
Stock Symbol: TSXV:NAM
Date Published: Jun 8, 2022
Transcript: Available

Video Transcript:

New Age Metals (TSXV:NAM) (OTCQB:NMTLF) (FSE:P7JF) reported new high-grade drill hole intercept at its River Valley Palladium Project in Ontario.

The River Valley Palladium Project, located 100 kilometres by road, east of the City of Sudbury, is linked to Sudbury by a network of all-weather highways, roads and rail beds and is accessible year-round with hydro grid and natural gas power nearby.

Drill hole KP21-05, completed at the Dana South Zone, returned a long, higher-grade intersection of palladium mineralization lying outside the established boundary of Dana South.

The Dana South Zone, which measures 250 metres along strike and 50 metres wide, has been traced in drilling to approximately 500 metres below surface, the deepest drilling completed at River Valley, and appears to be a fault offset from the larger Dana North Zone.

Highlights of Drill Hole KP21-05 include 1.129 g/t palladium + platinum + gold, shown as “3E” and 0.108% copper over 84 metres from 197 metres downhole, including 1.918 g/t 3E and 0.183% copper over 30 metres from 242 metres downhole; and 2.373 g/t 3E over 18 metres from 243 metres downhole.

As part of the ongoing Pre-Feasibility Study of the River Valley Project, diamond drill hole KP21-05 was designed to test the location and geomechanical nature of the footwall contact to the Dana South Zone of the River Valley Palladium Deposit.

The 290-metre long drill hole encountered a long interval of copper-iron sulphide mineralization in the favourable Breccia Unit of the River Valley Intrusion.

At approximately 224 metres downhole, the hole exited the Dana South wireframed mineralized domain and continued in mineralization mainly within the Breccia Unit for an additional 57 metres.

Although intersected at a shallow angle by KP21-05, the occurrence of such higher-grade mineralization outside of the wireframed domain suggests that the Dana South Zone mineralization extends farther south-southeast than previously modelled.

Harry Barr, Chairman and CEO of New Age Metals, stated: “This Pd mineralization intercept of the Dana South Zone in drill hole KP21-05 is remarkable. The exploration upside potential at River Valley continues to surprise, despite historical and recent drilling of 723 holes totalling 156,000 metres along the 16 km strike length of the Deposit. Follow-up drilling designed to confirm and expand the Dana South mineralization beyond the historically modelled boundaries will be undertaken this summer. Despite continued volatility in the global markets, palladium prices remain high and rhodium, an additional metal of potential interest at River Valley, is also trading at very high prices.”

New Age Metals, focused on the discovery, exploration and development of green metal projects in North America operates through two divisions; a Platinum Group Metals division and a Lithium/Rare Element division.

The PGM Division includes the 100% owned River Valley Project, one of North America’s largest undeveloped Platinum Group Metals Projects, and the 100% owned Genesis PGM-Copper-Nickel Project in Alaska.

With seven projects, three of which are drill ready, the Lithium Division is one of the largest mineral claim holders in the Winnipeg River Pegmatite Field, where the company is exploring for hard rock lithium and various rare elements such as tantalum and rubidium.
Last September, the company announced a partnership with Mineral Resource Limited (ASX:MIN), the world’s fifth largest lithium producer, to explore and develop the company’s lithium project portfolio.

The shares are trading at $0.075.

For more information, please visit the company’s website at www.NewAgeMetals.com, contact Harry Barr, Chairman & CEO, at 613-659-2773 or by email at hbarr@NewAgeMetals.com.