(TheNewswire)
11 th January 2024 – TheNewswire - Rockport, Ontario - New Age Metals Inc. (TSXV:NAM ) ; ( OTC:NMTLF ) ; ( FSE:P7J.F) (“NAM” orthe “Company”) in conjunction with its Farm-in/Joint Ventureagreement with Mineral Resources Ltd. (“MinRes”) is pleased toannounce that all assay results have been received from the extensivesummer exploration program on the Company’s Winnipeg River-Cat LakeLithium Projects of Southeast Manitoba.
The sampling campaign was conducted by the Company’stechnical consultants from Axiom Exploration Group Ltd. (“Axiom”).A total of 2086 rock lithogeochemistry samples, 2601 MMI soilgeochemistry samples, and 328 MMV biogeochemistry were collected overthe 20,270 hectare land package.
A detailed geostatistical review of the results isongoing in conjugation with a structural analysis/interpretation byResource Potentials Ltd. (“Respot”) of all newly acquiredhigh-resolution Tri-axial magnetics, Radiometrics, and LiDAR data. Todate the assessment has yielded several priority targets to beconsidered highly prospective for lithium-cesium-tantalum (“LCT”)type pegmatites.
“Review of the results derived fromthe summer program has successfully identified numerous target areasfor the focus of our much-anticipated winter drilling campaign whichis slated to begin the week of January 15 th 2023,” said Harry Barr, Chairman and CEOof New Age Metals. “Our team will continuefollow-up work from the data received as we now have an extensivegeological database integrating historical data compilation with arecent and robust sampling and geophysical program. Together with ourpartners from Mineral Resources, we look forward to further testingthese targets with a 15,000 meter winter drill program and develop ourproperties that surround the prolific Tanco Mine.”
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Bird River Lithium Property:
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Pegmatite swarm on the Bird RiverLithium property consisting of the spodumene-rich Tappy and Mattypegmatites as well as numerous other recently discovered LCT stylepegmatites.
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Recent option agreement datedDecember 1, 2023 with W.S. Ferreira Ltd. (“Ferreira”) to acquirean undivided 100% interest in the mineral property claim Bridge andBridge 1 which now creates a contiguous claim package across theCompany’s Bird River Lithium property. The claim hosts the MattyPegmatite which has historic assay results up to 3.5% Li O.
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Lithium Two Property:
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Newly discovered spodumene-bearing pegmatite dyke located 450m to the north of the Eagle Pegmatite on theLithium Two property returned grab samples grading up to3.13% Li O (sample# 215719)
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8 grab samples within 30 meters ofthe FD-5 Pegmatite returned over 0.5 % Li O including up to 1.13 % Li O (sample# 215747).
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Eagle Pegmatite extended at surface50 meters east with sample returning 1.33% Li O (sample# 633588).
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Lithman East:
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Initial geochemical evaluation showsindications of highly prospective trend and pegmatite swarm including anomalous Li, Cs, and Tavalues along the Rush LakeTrend of the Lithman East property which lies only ~ 6 km from TancoMine.
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Four samples within 65-meter trendreturned anomalous Cs values including up to 1476 ppm Cs (sample#215917).
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Figure 1 : Lithium Two Property with2023 Rock Sample Assay results
Figure 2 : Lithman East 2023 rocksample grid assay results
Figure 3 : Bird River LithiumProperty with rock sample grid assay results
Sampling, analyticalmethods and QA\QC protocols
A thoroughchain-of-custody and quality assurance and quality control(“QA/QC”) program was carried out during the field program.Samples were obtained by rock hammer and rock saw. Sample locationswere recorded by handheld Garmin GPS and samples were photographedwith the documented number tags, then placed in poly sample bags andzip tied.
The Company’simplemented QA/QC procedures included the routine insertion of LCT(lithium-caesium-tantalum) pegmatite certified standard controlsamples, lab duplicates, and silica blanks in accordance with industryrecommended practices. This was used to test for natural variability,sampling bias, and homogeneity during sample preparation processeswithin the lab as well as testing the precision of the sample and anypossible contamination from the lab and ensure proper calibration oflab equipment. Analytical results of certified reference materialswere verified graphically and determined to be within the allowableerror of 2 standards deviations of the certified lithiumvalues.
All rock samples were submitted to SGS Canada Inc. forSodium Peroxide Fusion / ICP-AES and ICP-MS analysis with a focus onLithium, Tantalum, and Cesium. All soil and biological samples weresubmitted SGS Canada Inc. in Burnaby, BC for MMI-M (soils) and MMI-MV(bio) analysis with measurement by conventional ICP-MS. SGS CanadaInc. is independent of the Company.
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 Element division and a Lithium/RareElement division.
The PGE Division includes the 100% owned,multi-million-ounce, district-scale River Valley Project, one of NorthAmerica’s largest undeveloped Platinum Group Element Projects,situated 100 km by road east of Sudbury, Ontario. In addition to RiverValley, NAM owns 100% of the Genesis PGE-Cu-Ni Project in Alaska andplans to complete a surface mapping and sampling program in2023.
The Company’s Lithium Division is one of the largestmineral claim holders in the Winnipeg River Pegmatite Field, where theCompany is exploring for hard rock lithium and various rare elementssuch as tantalum, rubidium, and caesium. Further exploration plansfor 2023 include continued mapping/sampling field programs followingup on the anomalous results from the soil and rock samples collectedpreviously during summer 2023. The Company has slated to begin a15,000 meter winter drill program on or about January 15 th 2024. TheCompany’s Projects are fully funded with the partnership the Companyhas with Mineral Resource Limited (MRL, ASX:MIN), a top global lithium producer to explore and develop theCompany’s lithium project portfolio in Southern Manitoba. Ourphilosophy is to be a project generator with the objective ofoptioning our projects with major and junior mining companies throughto production.
The Company isactively seeking an option/joint venture partner for our newlyacquired Northman and South Bay Lithium Projects in northern Manitoba,and its road-accessible Genesis PGE-Cu-Ni Project inAlaska.
Investors are invited to visit the New Age Metalswebsite at www.newagemetals.com where they can review the company andits corporate activities. Any questions or comments can be directed toinfo@newagemetals.com or Harry Barr at Hbarr@newagemetals.com or Farid Mammadov at faridm@newagemetals.com or call 613659 2773.
The technical information in this news release has beenreviewed and approved by Lynde Guillaume (Senior Geologist, AxiomExploration Ltd.), a Qualified Person, and a Professional Geoscientist(P.Geo) who is a registered member of the ‘Engineer and Geosciencesof Manitoba’ (no. 47952).
If you have not done so already, we encourage you tosign up on our website ( www.newagemetals.com ) toreceive our updated news.
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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