New Age Metals Palladium Exploration Plan Update for Q3 2020

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Algemeen advies 24/06/2020 15:57
June 24, 2020 Rockport, Canada – New Age Metals Inc. (TSXV: NAM; OTCQB: NMTLF; FSE: P7J). NAM is pleased to announce plans for its Phase 2 2020 exploration and development program at the Company’s 100% owned River Valley Palladium Project. This district-scale land package and large mineral resource is located near the City of Sudbury, Ontario, and its world-class mining and processing facilities.

Following completion of its successful Phase 1 drill program in May 2020 (see press release dated June 2, 2020), Phase 2 of the 2020 field season will commence in July with exploratory drilling and environmental baseline studies. The drill target prioritized for testing is a large chargeability high detected in the 2017 IP survey (Figure 1), which was performed over the Pine Zone and footwall at the northern end of the 16 km long River Valley Palladium deposit. The IP target appears to be strongly chargeable, links to the eastern known extent of the Pine Zone resource via a curvilinear chargeability trend about 300 metres long (Figure 1), and extends from approximately 120 metres to 340 metres below surface in geophysical inversion modelling of the IP survey results.

The Phase 2 drill program as planned consists of two vertical holes totalling 750 metres and will be completed by a single diamond drill rig. Drilling is scheduled to commence in the third week of July and should be completed within about two weeks. The drilling will test for presence of the favourable Breccia Unit of the River Valley Intrusion (or feeder magma conduit), fault and fold structures, and Palladium mineralization, either an along strike continuation of the Pine Zone or a new zone (Figure 2). Assay results should be available from the laboratory by the end of August. Pending results, the two Phase 2 holes and other holes nearby may be surveyed by downhole IP techniques for off-hole anomalies. This drill program is the second phase of a three phase 5,000 metre drill program proposed for 2020.

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