New Age Metals acquires 19,321 hectares at McLaughlin Lake, Manitoba
New Age Metals Inc. [NAM-TSXV; NMTLF-OTCQB; P7J2-FSE] has acquired 19,321 hectares of a mineral exploration licence (MEL) area at McLaughlin Lake, Manitoba. The MEL covers approximately 30 km of strike length of the Stull-Wunnummin Fault structure. The property hosts spodumene-bearing pegmatites with historical assay values up to 2.87% Li2O (lithium oxide) and numerous prospective LCT-style (lithium/cesium/tantalum) pegmatites.
The newly acquired property is located in Northern Manitoba’s Oxford Lake/Knee Lake greenstone belt, which is largely underexplored for LCT pegmatites. All the claims are held by Lithium Canada Development, a 100%-owned lithium division of New Age Metals.
The company is looking to find a strategic partner to advance the project to a drill-ready stage.
Key highlights of the McLaughlin Lake lithium property: Spodumene-bearing pegmatites have been historically documented at McLaughlin Lake. A channel sample taken across the main dike assayed 1.32% Li2O over 1.52 metres and more recent whole-rock sampling conducted by the Manitoba Geological Survey (MGS) on this dike assayed 1.64% lithium.
The dike was traced at surface for a reported length of 400 metres and varies in thickness from 1.2 metres to 2.2 metres. Spodumene forms up to 40% of the dike locally, with individual crystals noted to be up to 35 cm long and seven cm wide.
In a later report by Barry (1962), a second spodumene-bearing dike was described approximately 20 metres west of the main showing. Two representative grab samples taken from a second spodumene-bearing dike in the area assayed 2.87% and 0.98% lithium. The pegmatite has an exposed width of up to one metre and was traced for 10 metres before disappearing under overburden.
The nearby and related Magill Lake pluton contains abnormally high rubidium (eight samples range from 238 parts per million to 692 parts per million rubidium) and a high degree of fractionation is inferred; the associated pegmatites therefore have a potential for rare element mineralization.
Analysis of regional till sampling conducted by the MGS returned coincident lithium/cesium/rubidium anomalies, with the McLaughlin Lake pegmatite indicating an effective exploration tool and shows additional anomalies occurring west on the property that have yet to be investigated.
Harry Barr, chairman and CEO, commented: “With the strong competition in today’s lithium market for available and prospective projects, we are thrilled to acquire such a large, underexplored area with mapped occurrences of lithium-bearing pegmatites. The acquisition of the McLaughlin Lake lithium project expands our Manitoba lithium division land position by 79% to an amalgamated 43,870 hectares, confirming our commitment to delivering shareholder value through project generation and development. The company looks forward to working with local first nation(s), local stakeholders and the Province of Manitoba to increase the lithium economic potential in the region.”
New Age Metals and its technical consultants from Axiom Exploration Group Ltd. are working on a go-forward exploration plan for the coming field season that will include: permitting and consultation with the local first nations and government representatives to support initial exploration plans; combined airborne magnetics, radiometrics and lidar survey over the central spodumene-bearing structure; first-pass prospecting and geological mapping focusing on historical showings; surficial geochemical surveys including mobile metal ions to expand upon regional till sampling anomalies identified by the government; and identify and prioritize drill targets by integrating historical data with new exploration surveys and data sets.
The company’s lithium division is one of the largest mineral claimholders in the Winnipeg River pegmatite field, where the company is exploring for hard-rock lithium and various rare elements such as tantalum, rubidium and cesium. The company recently completed a phase 2 drill program at the Lithium Two project and is beginning to receive initial assay results.
Further exploration plans for 2023/2024 include continued mapping/sampling field programs following up on prospective trends outlined in the magnetic data and 2022 surface sampling, additional geophysical surveys, and diamond drilling. The company has a partnership with Mineral Resources, a top global lithium producer, to explore and develop the company’s lithium project portfolio.
The 2023/2024 budget for New Age Metals’ Manitoba lithium division has been submitted to Mineral Resources and a final budget is expected by mid-April, 2023. The company is currently completing its 2022/2023 $2.3-million budget.
The company is actively seeking an option/joint venture partner for its newly acquired McLaughlin Lake lithium project and the SouthBay lithium project in Northern Manitoba and its road-accessible Genesis platinum group metal/copper/nickel project in Alaska.