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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. Eric Sprott, the billionaire resource investor, owns approximately 24.5% of the company. New Age Metals has two divisions: a Platinum Group Metals division and a Lithium/Rare Element division. The company is developing its flagship multi-million ounce River Valley Palladium Project near Sudbury, Ontario, which is one of the largest undeveloped primary palladium projects in North America. In June 2023, the company announced highlights from a recently completed Preliminary Economic Assessment (PEA). New Age Metals has entered into an exploration agreement with Mineral Resources Limited, the 5th largest global lithium producer, to fund exploration activities in Manitoba. The company currently has 11 projects and is one of the largest landowners in the Winnipeg River Pegmatite field, with many projects located near the Tanco Mine, one of Canada's only lithium producers. In early 2023, New Age acquired three additional 100% owned projects in Northern Manitoba and is actively seeking joint venture partners to further develop these projects. The company aims to be a project generator, optioning its projects with major and junior mining companies through to production, and owns 100% of all its projects.

Verified company data

Cash position
$2,000,000
Shares outstanding
79,775,896
Fully diluted shares
97,375,598
Mineral resource
The River Valley Intrusion (RVI) is shallow-dipping and layered body that appears to be approximately 900 m thick. The dominant rock types are brecciated and massive leuco-gabbronorite and leucogabbro with gabbro and anorthosite. There is an increase in metamorphic grade from the northwest part of the intrusion (greenschist facies) to the southeast part (amphibolite facies). The RVI intrudes Archean age paragneiss and orthogneiss of the Grenville Province and, along the Grenville Front, is in thrust contact with quartzite of the Huronian Mississagi Formation. Click for results from the 2021 NI 43-101 Mineral Resource Estimate | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Class | Tonnes ‘,000 | Pd (g/t) | Pt (g/t) | Rh (g/t) | Au (g/t) | Cu (%) | Ni (%) | Co (%) | NSR (C$/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 PGM\n\n### 100km NE of Sudbury, Ontario\n\n### [See Project](https://newagemetals.com/river-valley-pgm-project)\n\n### Multi-million oz. District Scale Asset\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\n### Technical Reports\n\nClick a document title to download\n\n[![](https://wp-newagemetals-2023.s3.ca-central-1.amazonaws.com/media/2023/09/download.png)**River Valley Palladium Project Preliminary Economic Assessment**](https://wp-newagemetals-2023.s3.ca-central-1.amazonaws.com/media/2023/09/NAM-River-Valley-PEA-by-PE-August-7-2019.pdf) [![](https://wp-newagemetals-2023.s3.ca-central-1.amazonaws.com/media/2023/09/download.png)**River Valley Palladium Project NI 43-101 Technical Report**](https://wp-newagemetals-2023.s3.ca-central-1.amazonaws.com/media/2023/09/New-Age-Metals-NI-43-101-River-Valley-Mineral-Resource-Update.pdf) [![](https://wp-newagemetals-2023.s3.ca-central-1.amazonaws.com/media/2023/09/download.png)**Genesis PGM-Ni-Cu Project NI 43-101 Technical Report**](https://wp-newagemetals-2023.s3.ca-central-1.amazonaws.com/media/2023/09/Genesis-Project-NI-43-101.pdf)","Genesis\n\n### PGM & Battery Metal Project in Alaska for option/joint venture\n\n100% owned by New Age Metals, subject to an underlying royalty\n\n3km from highway & electric transmission line\n\nKnown PGM mineralization covers 9km\n\nNo historic drilling on project\n\nProject on stable State of Alaska claims\n\nOn April 4th, 2018, NAM signed an agreement to acquire the Genesis Project from one of Alaska’s top geological consulting companies. The Genesis Project is a road accessible, under explored, highly prospective, drill ready Palladium (Pd)- Platinum (Pt)- Nickel (Ni)- Copper (Cu) property. A comprehensive report on previous exploration and future phases of work was completed in August 2018 on Genesis by Avalon Development of Fairbanks, Alaska. The Company’s stated mandate for the Genesis Project is to secure a strategic partner to co-fund the exploration and development of the project.\n\nThe Genesis project is a Ni-Cu-PGM property located in the northeastern Chugach Mountains, 75 road miles north of the city of Valdez, Alaska. The project is within 3 km of the all-season paved Richardson Highway and a high capacity electric power line.\n\nThe Genesis property is located in south central Alaska, approximately 82 km northeast of the port city of Valdez, Alaska, and approximately 8 km east of the Richardson Highway. The project is covered by 4,144 hectares of State of Alaska mining claims owned 100% by New Age Metals. The Genesis project has been divided into the Sheep Hill prospect and the Bernard Mountain prospect based on their differing geology and location both on the property and within the magmatic stratigraphy of the TUC.\n\nPast exploration has revealed the presence of chromite-associated platinum and palladium mineralization and stratabound Ni-Cu-PGM mineralization within steeply dipping magmatic layers of the Sheep Hill portion of the Tonsina Ultramafic Complex. Pyrrhotite, pentlandite, and chalcopyrite occur in disseminations and net textured segregations associated with disseminated to banded chromite within a 150 meter thick steeply north dipping layer of dunite and lherzolite just north of the Border Ranges Fault zone. The mineralized horizon has been identified in outcrop sampling for 2000 m along strike and a 40 m true thickness.\n\nClick a document title to download\n\n[![](https://wp-newagemetals-2023.s3.ca-central-1.amazonaws.com/media/2023/09/download.png)**NI 43-101 Technical Report**](https://wp-newagemetals-2023.s3.ca-central-1.amazonaws.com/media/2023/09/Genesis-Project-NI-43-101.pdf)","Lithium Projects\n\n### Proximity to North American Markets\n\nPortfolio of early stage, hard rock lithium exploration assets in Manitoba, Canada\n\nLithium discovery opportunity\n\n100% Owned\n\nExploration agreement with the Sagkeeng First Nation\n\nNew Age Metals is the largest mineral claim holder in the prolific, Winnipeg River – Cat Lake Pegmatite Field. All of the claims are held by Lithium Canada Development, a 100% owned Lithium Division of New Age Metals. We presently have several Lithium Projects in the SouthEast region of Manitoba which are situated along strike of the Tanco Pegmatite and the claims encompass several pegmatite groups. The projects are located 140 kms northeast of Winnipeg, Manitoba:\n\n- Total land position in the Winnipeg River Pegmatite Field equal to about 21,611 hectares.\n- Exploration funded by the 4th largest lithium producer in the world Mineral Resources Limited (ASX:MIN)\n- Three of the projects are considered drill ready. Lithium One, Lithium Two and Lithman West.\n- Active exploration of the claim holdings is ongoing.\n- New Age Metals has signed an exploration agreement with the Sagkeeng First Nation and will be working in partnership with them to conduct exploration activities."]
Leadership
Harry G. Barr (Chairman & CEO, Over 30 years of experience in the mining industry, leading New Age Metals since its inception.), 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 in Mining Engineering, specializing in Mineral Processing, actively involved in business development since 2018.)

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