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New Age Metals

TSXV:NAMLive AI agent

New Age Metals is a well financed mineral exploration and development company focused on the discovery, exploration and development of green metal projects in North America.

Investor website: https://newagemetals.com/

About

New Age Metals is a well financed mineral exploration and development company focused on the discovery, exploration and development of green metal projects in North America. The Company has two divisions; a Platinum Group Metals division and a Lithium/Rare Element division. It is developing its flagship multi-million ounce River Valley Palladium Project near Sudbury, ON, and has entered into an exploration agreement with Mineral Resources Limited to fund exploration activities. The Company owns 100% of all its projects and is actively seeking joint venture partners.

Verified company data

Cash position
$2-million
Shares outstanding
74,775,896
Fully diluted shares
89,345,598
Mineral resource
The River Valley Intrusion (RVI) is shallow-dipping and layered body that appears to be approximately 900 m thick. The dominant rock types are brecciated and massive leuco-gabbronorite and leucogabbro with gabbro and anorthosite. There is an increase in metamorphic grade from the northwest part of the intrusion (greenschist facies) to the southeast part (amphibolite facies). The RVI intrudes Archean age paragneiss and orthogneiss of the Grenville Province and, along the Grenville Front, is in thrust contact with quartzite of the Huronian Mississagi Formation. Click for results from the 2021 NI 43-101 Mineral Resource Estimate | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Class | Tonnes ‘,000 | Pd (g/t) | Pt (g/t) | Rh (g/t) | Au (g/t) | Cu (%) | Ni (%) | Co (%) | NSR (C$/t) | | Measured | 15,488 | 0.70 | 0.25 | 0.02 | 0.05 | 0.1 | 0.02 | 0.003 | 59.54 | | Indicated | 74,152 | 0.51 | 0.20 | 0.02 | 0.04 | 0.01 | 0.001 | 0.002 | 45.08 | | Measured + Indicated | 89,640 | 0.54 | 0.21 | 0.002 | 0.04 | 0.1 | 0.01 | 0.002 | 47.58 | | Inferred | 94,268 | 0.35 | 0.16 | 0.01 | 0.03 | 0.00 | 0.02 | 0.002 | | | | | | | | --- | --- | --- | --- | | Class | Pd + Pt + Au(oz) | Pd(oz) | Pt(oz) | | Measured | 492,300 | 347,200 | 122,400 | | Indicated | 1,789,100 | 1,221,100 | 484,000 | | Measured + Indicated | 2,281,400 | 1,568,300 | 606,400 | | Inferred | 1,648,500 | 1,073,700 | 480,600 | Notes: 1. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. 2. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. 3. The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could potentially be upgraded to an Indicated Mineral Resource with continued exploration. 4. The Mineral Resources were estimated in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions (2014) and Best Practices Guidelines (2019) prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council. 5. The Mineral Resource Estimate is based on US$ metal prices of $1,850/oz Pd, $900/oz Pt, $1,600/oz Au, $3.00/lb Cu, $16/lb Co, $6.50/lb Ni, $8,000/oz Rh, $18.50/oz Ag. The US$:CDN$ exchange rate used was 0.75. 6. The NSR estimates use flotation recoveries of 80% for Pd, 80% for Pt, 80% for Au, 85% for Cu, 25% for Co, 90% for Ni, 80% for Rh and 65% for Ag and smelter payables of 80% for Pd, 80% for Pt, 85% for Au, 85% for Cu, 50% for Co, 90% for Ni, 80% for Rh and 65% for Ag. 7. The pit optimization used a mining cost of $2.25/t mined, combined processing and G&A costs of CDN$15/t, and pit slopes of 50º. The out-of-pit Mineral Resources used underground mining, processing and G&A cost of CDN$50/t. 8. Out-of-pit Mineral Resources were determined to be potentially extractable with the longhole mining method.
Projects
["River Valley Palladium\n\n100% owned by New Age Metals\n\nLocated 100km NE of Sudbury, Ontario\n\n2.25 MOz Pd+Pt+Au M&I, 1.59 MOz Pd+Pt+Au Inferred\n\nAdvanced Preliminary Economic Assessment completed\n\nThe River Valley Palladium Project is located approximately 100 km northeast of the City of Sudbury, in northern Ontario. The Project is road accessible and boasts strong established infrastructure and local community support.\n\nThe River Valley Palladium project was acquired in 1998 by NAM (formally Pacific North West Capital, now New Age Metals). NAM discovered significant PGM occurrences on the Property and entered into a joint venture agreement with Anglo Platinum in 1999. NAM was the operator of the joint venture until 2010 as Anglo Platinum earned-in for 50% ownership, and continues to be the operator today.\n\nIn January 2011, NAM successfully acquired Anglo Platinum Limited’s 50% of the Project, to achieve 100% ownership. In 2016, NAM’s management negotiated the purchase of 100% of the River Valley Extension from Mustang Minerals. This acquisition increased the size of NAM’s land position to 15,800 acres and its portion of the River Valley Deposit from 12 km to 16 km in strike length.\n\nThe Project is currently covered by two Mining Leases. The Mining Leases cover an approximate area of 12,000 acres and include surface and mining rights. A buffer zone of approximately >5000 acres has been added to the existing River Valley Project.\n\nThe River Valley PGM Project is100% owned by New Age Metals\n\nThe new Preliminary Economic Assessment (PEA) of the River Valley Palladium Project was completed in August 2023 by P&E Mining Consultants Et all and the Technical Report is available on SEDAR or at the bottom of this webpage under technical documents. Compared to the 2019 PEA, this new PEA is based on a much smaller, higher-grade operation with markedly lower CAPEX, expanded underground mining and reduced open pit mining, and significantly smaller environmental impact. These encouraging results are based on the 2021 Mineral Resource Estimate, produced in accordance with current CIM standards and guidelines, to provide feed to an on-site 2.5 Mtpa process plant.\n\nThe exploration program includes: 1) continued exploration drilling, particularly for mineralization in the intrusion footwall; 2) advanced metallurgical testing to improve process recoveries and more accurately estimate concentrate grades; 3) geotechnical logging of drill core to create a 3D geomechanical block model and estimate open pit wall angles; and 4) hydrogeological studies to generate a water management plan for the site. The Pre-Feasibility study could support the first Mineral Reserve Estimate for the River Valley Palladium Project."]
Leadership
Harry G. Barr (Chairman & CEO), Chris Berlet (Director, 30 years of experience in finance and the mineral industries. Graduate of Mining Engineering from Queen’s University and holds a Diploma in Accounting & Finance from the London School of Economics.), Cody Hunt (VP Business Development, Graduate of Queen’s University with a Bachelor's degree in Mining Engineering specializing in Mineral Processing. Actively pursuing his Chartered Financial Analyst designation.), Ron Hieber (Director, Internationally recognized expert in Platinum Group Metals with extensive experience in mining geology and exploration, previously Head of Worldwide Exploration for Anglo Platinum.)

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