New Age files NI 43-101 report on River Valley Palladium, Ontario
New Age Metals Inc. [NAM-TSXV; NMTLF-OTCQB; PJ7-FSE] filed an independent NI 43-101 compliant Technical Report on its 100%-owned River Valley Palladium Deposit, near Sudbury, Ontario. The Technical Report was prepared by P&E Mining Consultants Inc.
Highlights of the updated 2021 Mineral Resource Estimate include, at a cut-off of CDN$15/t NSR, pit constrained Measured and Indicated Mineral Resources contain 2.25 Moz palladium+platinum+gold within 89.0 Mt grading 0.79 g/t Pd+Pt+Au or at $CDN47.6/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 CDN$31.1/t NSR.
At a CDN$25/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 CDN$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 CDN$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 CDN$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 CDN$68.1/t NSR, at a CDN$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 mineralized zones to potentially expand the Mineral Resources at depth.
Pre-Feasibility Study Update A Pre-Feasibility Study of the River Valley Palladium Project was announced in a press release dated April 2021. A progress update was announced in a Company press release dated November 10, 2021. Story Environmental continued baseline environmental studies of the River Valley Property and working toward establishing meaningful relationships with local Indigenous Communities.
New Age’s philosophy is to be a project generator with the objective of optioning its projects with major and junior mining companies through to production. The company is actively seeking an option/ joint venture partner for its road-accessible Genesis PGM-Cu-Ni project in Alaska.