(TheNewswire)
June 1 st , 2022 – TheNewswire- Rockport, Ontario - New Age Metals Inc.(TSXV:NAM ) ; ( OTC:NMTLF ) ; ( FSE:P7J2) (“NAM” or the “Company”) in conjunctionwith its partner Mineral Resources Ltd. is pleased to announce it hasengaged Axiom Exploration Group Ltd. to conduct a Helicopter-borneTri-axial Gradiometer Magnetics Survey including Lidar, covering atotal of 5600 hectares over portions of the company’s Lithium Oneand Lithman East properties. The survey infills areas not covered bythe 2021 UAV magnetics survey and provides detailed magnetic maps andlidar imagery to aid in the summer exploration, geological mapping,and drill-targeting of these prospective areas. Previous magnetic surveys proved to be avaluable exploration technique in identifying multiple prospectivetrends that enhance the potential for additional discoveries as wellas further delineating known surface exposures.
The Lithium East and Extension hosts abundant surfaceexposed pegmatites along trend of rare-metal pegmatite groups (RushLake Group and Tanco Pegmatite Group - Buck-Coe-Pegil deposit). Very little historic work hasbeen completed on this property with no documented drilling.
The Lithium One property hosts numerous showings thathave been traced at surface and have limited historical drilling(Figure 1). The survey should assist in outlining the total extent ofthese known showings beyond what has been traced at surface and tofurther refine the planned Phase-One Diamond Drill Program on theSilverleaf Pegmatite and other showings on the property. Additionally, there is potential for thediscovery of buried pegmatites that may have been missed by historicalsurface mapping/prospecting.
Figure 2: Lithium One Property with HistoricalShowings/Pegmatite Occurrences
A comprehensive program of mapping and surface samplingis planned for the summer to follow-up the results of theHelicopter-borne Tri-axial Gradiometer Magnetics Survey. The results in combination with a SatelliteSpectral Analysis will be valuable in defining additional areas withhigh potential to host lithium bearing pegmatites and advance theCompany’s projects.
About Airborne Tri-Axial GradiometerMagnetics
Axiom Exploration Group utilizes a helicopter withthree specially designed potassium vapor magnetometers mounted in atriaxial array to conduct gradient magnetic surveys along 50-meterline spacing. The data from the three individual sensors allows themeasurement of the horizontal and vertical gradients of the magneticfield. Horizontal gradient measurements provide details about thelateral extent of subsurface anomalies located between survey lines.Vertical gradients can assist significantly in identifyinggeologic/structural contacts and near-surface targets that maycorrelate with lithium-bearing pegmatites. Measuring these gradientsdirectly is a significant advantage when compared to a single sensorof a conventional total field system.
About NAM
New Age Metals is a junior mineral exploration anddevelopment company focused on the discovery, exploration, anddevelopment of green metal projects in North America. The Company hastwo divisions: a Platinum Group Metals division and a Lithium/RareElement division.
The PGM Division includes the 100% owned,multi-million-ounce, district scale River Valley Project, one of NorthAmerica’s largest undeveloped Platinum Group Metals Projects,situated roughly 100 km by road east of Sudbury, Ontario. The Company completed a positivePreliminary Economic Assessment on the Project in 2019 and is fullyfinanced to complete a Pre-Feasibility Study on the Project in2022. In addition to River Valley, the Companyowns 100% of the Genesis PGM-Cu-Ni Project in Alaska and has plans tocomplete a surface mapping and sampling program in 2022.
The Lithium Division is one of the largest mineralclaim holders in the Winnipeg River Pegmatite Field, where the Companyis exploring for hard rock lithium occurrences and various rareelements such as tantalum and rubidium. The plans for 2022 include additionalgeophysical surveys and a maiden drill program on the Lithium OneProject, phase two drill program at Lithium Two Project, and a fieldprogram to follow up prospective targets identified on the five gridscompleted in the 2021 geophysical surveys. On September 28, 2021, theCompany announced a partnership with Mineral Resource Limited (MRL,ASX: MIN), the world’s fifth largest lithium producer to explore anddevelop the Company’s lithium project portfolio.
Our philosophy is to be a project generator with theobjective of optioning our projects with major and junior miningcompanies through to production. The Company is actively seeking anoption or joint venture partner for its road-accessible GenesisPGM-Cu-Ni project in Alaska.
Investors are invited to visit theNew Age Metals website at www.newagemetals.com where they can review the company and itscorporate activities. Any questions or comments can be directed to info@newagemetals.com , Harry Barr at Hbarr@newagemetals.com or Farid Mammadov at faridm@newagemetals.com or call 613 659 2773.
Qualified Person
The technical information in this news release has beenreviewed and approved by Matthew Schwab, P.Geo. (Senior VicePresident, Axiom), who is a “Qualified Person” for the Company asdefined under National Instrument 43-101 - Standards of Disclosure forMineral Projects (“NI 43-101”).
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On behalf of the Board of Directors
“ Harry Barr”
Harry G. Barr
Chairman and CEO
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release. Cautionary Note RegardingForward Looking Statements: This release contains forward-lookingstatements that involve risks and uncertainties. These statements maydiffer materially from actual future events or results and are basedon current expectations or beliefs. For this purpose, statements ofhistorical fact may be deemed to be forward-looking statements. Inaddition, forward-looking statements include statements in which theCompany uses words such as “continue”, “efforts”,“expect”, “believe”, “anticipate”, “confident”,“intend”, “strategy”, “plan”, “will”, “estimate”,“project”, “goal”, “target”, “prospects”,“optimistic” or similar expressions. These statements by theirnature involve risks and uncertainties, and actual results may differmaterially depending on a variety of important factors, including,among others, the Company’s ability and continuation of efforts totimely and completely make available adequate current publicinformation, additional or different regulatory and legal requirementsand restrictions that may be imposed, and other factors as may bediscussed in the documents filed by the Company on SEDAR(www.sedar.com), including the most recent reports that identifyimportant risk factors that could cause actual results to differ fromthose contained in the forward-looking statements. The Company doesnot undertake any obligation to review or confirm analysts’expectations or estimates or to release publicly any revisions to anyforward-looking statements to reflect events or circumstances afterthe date hereof or to reflect the occurrence of unanticipated events.Investors should not place undue reliance on forward-lookingstatements.
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