New Age Metals starts 2025 gold-antimony exploration, Newfoundland
New Age Metals Inc. [TSXV: NAM; OTCQB: NMTLF; FSE: P7J] has begun the 2025 field exploration program on its gold-antimony (Au-Sb) properties in central and south-central Newfoundland. This launch follows the receipt of a letter of acceptance from the mineral lands division of the government of Newfoundland and Labrador, authorizing grassroots-level exploration activities.
The 2025 exploration program is structured in two phases: Phase 1 (initiated mid-May): focuses on first-pass mineral prospecting, geological mapping and geochemical sampling to identify and prioritize target areas on the company’s properties.
Phase 2 (planned for late summer or early fall): will involve detailed follow-up activities, including geochemical surveys, channel sampling and backpack drilling on high-priority targets identified during phase 1.
New Age Metals’ lead technical consultant, Dr. William Stone, PGeo, and Axiom Exploration are managing and executing the exploration program. Currently, the field crew consists of two geologists and a two-man Newfoundland-based prospecting team.
Chairman and CEO Harry Barr states: “Following our May 13 announcement regarding the letter of acceptance from the government of Newfoundland and Labrador, permitting grassroots-level exploration, we are pleased to report that our field program is now well under way. We have moved swiftly to mobilize and begin work at a highly opportune time; antimony prices are at record highs and gold continues to trade near historic levels. Our strategically located projects are situated near the past-producing Beaver Brook antimony mine, Canada’s only primary antimony mine, and the Queensway gold project, one of the most advanced gold exploration projects in Newfoundland. We look forward to sharing updates with our shareholders as the program progresses.”
New Age Metals’ landholdings in Newfoundland amount to approximately 19,300 hectares in 10 non-contiguous properties. Five of these properties are strategically located along the same geological trend as the past-producing Beaver Brook antimony mine and in proximity to New Found Gold’s Queensway South gold project. The remaining five properties are located 90 km farther south in the St. Alban’s area, along Canstar’s Swanger and Little River mineralized trends.
New Age Metals has three divisions: a platinum group element division, a lithium/rare element division and a gold-antimony division.
The PGE division includes the 100%-owned, multimillion-ounce, district-scale River Valley project, one of North America’s largest undeveloped PGE projects, situated 100 km by road east of Sudbury, Ontario. New Age Metals also owns 100% of the Genesis PGE-Cu-Ni (PGE-copper-nickel) property in Alaska.
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.
New Age Metals is developing its lithium division in conjunction with its farm-in/joint venture agreement with Mineral Resources Ltd., one of the world’s largest lithium producers. A minimum budget to maintain the projects has been approved by Mineral Resources for May, 2025, to April, 2026. The companies agreed to the minimum budget due to current lithium pricing.
Management is seeking new mineral acquisition opportunities. The company is also seeking an option/joint venture partner for its River Valley palladium project and its road-accessible Genesis PGE-Cu-Ni property in Alaska.