New Age Metals Inc. [NAM-TSXV; NMTLF-OTCQB; P7J-FSE] provided an update on its metallurgical study program at its 100%-owned River Valley palladium project, 100 km east of Sudbury, Ontario. This study is being carried out as a key component of the ongoing Pre-Feasibility Study of the River Valley Palladium Project.
Further to the November 10, 2021 announcement, New Age has now received metre-by-metre assay results from SGS for all four of the metallurgical holes drilled at River Valley in 2021. Four short diamond holes were drilled inside the River Valley Deposit, one each at the Dana North, Dana South, Lismer North and Lismer Ridge Mineralized Zones.
These HQ-size drill holes were planned to validate mineralized zone models and maximize recovery of fresh mineralized sample material for the mineral processing and metallurgical testwork studies. The Dana Zones and the Lismer Zones were selected for study, because they are the most assessable and the best understood of the 10 known palladium mineralized zones, and therefore the most probable starting location for any potential mining operation at River Valley. The four drill holes intersected palladium mineralization in gabbroic rocks of the host Breccia Unit for almost the entire length of each hole.
The Dana North Zone hole (DN-21-01m) was drilled for 201 metres obliquely down-dip, parallel to the metallurgical hole drilled in 2012. Drill hole DN-21-01m intersected 2.08 g/t 3E (platinum-palladium-gold) and 0.12% copper (or $117/t NSR) over 141.5 metres from 0.5 metres downhole from surface, including 2.24 g/t 3E and 0.13% copper (or $126/t NSR) over 124.5 metres, and 1.21 g/t 3E and 0.09% copper (or $68/t NSR) over 55 metres from 145 metres downhole, including 1.37 g/t 3E and 0.09% copper ($77/t NSR) over 45 metres.
The Dana South Zone hole (DS-21-01m) was drilled for 200 metres obliquely down-dip, in contrast to the vertical hole drilled in 2012. Drill hole DS-21-01m intersected 2.74 g/t 3E and 0.20% copper over 11 metres from surface, and 3.00 g/t 3E and 0.15% copper (or $166/t NSR) over 66 metres from 111 metres downhole, including 3.48 g/t 3E and 0.17% copper over 47 metres (or $192/t NSR). This drill hole ended in higher-grade mineralization.
The Lismer North Zone hole (LN-21-01m) was drilled for 185 metres obliquely down-dip. Drill hole LN-21-01m intersected 1.02 g/t 3E and 0.13% copper (or $59/t NSR) over 23 metres from 21 metres downhole, 1.01 g/t 3E and 0.06% copper (or $55/t NSR) from over 7 metres from 131 m downhole, 0.99 g/t 3E, and 0.08% copper (or $55/t NSR) over 11 metres from 143 metres downhole, including 1.63 g/t 3E and 0.12% copper (or $89/t NSR) over 3 metres from 145 metres downhole, 1.61 g/t 3E and 0.06% copper (or $87/t) over 3 metres from 151 metres downhole, and 2.34 g/t 3E and 0.07% copper (or $129/t NSR) over 14 metres from 162 metres downhole. Compared to the Dana North and Dana South results, the mineralization at Lismer North appears in this drill hole to be lower grade and less continuous.
The Lismer Ridge Zone hole (LR-21-01m) was drilled for 215 metres obliquely down-dip. This Lismer Ridge hole (LR-21-01m) intersected 1.06 g/t 3E and 0.06% copper (or $58/t NSR) over 27 metres from 6 metres downhole, 0.82 g/t 3E and 0.05% copper (or $45/t NSR) over 30 metres from 130 metres downhole, including 2.32 g/t 3E and 0.17% copper (or $130/t NSR) over 4 metres from 156 metres downhole, 1.16 g/t 3E and 0.07% copper (or $83/t NSR) over 21 metres from 170 metres downhole and 2.39 g/t 3E and 0.07% copper (or $128/t NSR) over 4 metres from 205 metres downhole. This surprising result makes this area east-adjacent to Lismer Ridge a promising exploration target of interest.