New Age Metals Inc (TSX-V:NAM, OTCQB:NMTLF) announced that it has begun drilling on its Lithium Two project in Manitoba, with plans to drill a minimum of 1,500 metres (m).
The junior mineral exploration and development company said the program will consist of testing the down dip extension of mineralization intersected in the 2021 drill program, as well as exploratory drilling based on detailed geophysics and surface sampling.
New Age Metals noted 2021 drilling encountered high-grade lithium mineralization in 11 drill holes along the Eagle Pegmatite over a 500m strike length, with results that included 1.01% lithium oxide (LiO) over a 16.4m core length with individual samples grading up to 3.49% LiO.
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The company added that the purpose of the phase two program is to follow up on the results of the 2021 drill program, testing down dip of the intersected mineralization on the Eagle Pegmatite, as well as to test along strike of known surface mineralization and along favourable structures identified using the 2021 detailed UAV-borne magnetic survey.
New Age Metals also stated that exploration activities are being funded by Mineral Resources Limited (MRL), a Top 5 global lithium producer.
The Lithium Two project covers 137 hectares and is located about 20 kilometres north of the Tanco mine, the only currently producing hardrock lithium mine in Canada, according to the company.
New Age Metals is a junior mineral exploration and development company focused on the exploration and development of green metal projects in North America. It has two divisions: a Platinum Group Metals division and a Lithium/Rare Element division.
Contact Sean at sean@proactiveinvestors.com