New Age Metals Inc (TSX-V:NAM, OTCQB:NMTLF) has announced assay results from the 2022 exploration program at its River Valley palladium project near Sudbury, Ontario.
The company completed six diamond drill holes totaling 1,328 meters (m) at Dana South Zone, which is located near the north end of the River Valley Deposit. All six intersected palladium mineralization, thereby expanding the known extent of the mineralization, the company said.
Highlights included 1.553 grams per tonne (g/t) of palladium-platinum-gold (3E) and 0.070% copper over 14m from 249m downhole at the Dana South-Extension target in hole DS-22-01; and 0.891 g/t 3E and 0.091% copper over 14m from 210m downhole at the Dana South-Extension target in hole DS-22-02.
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“In terms of Pd grade and zone location, Dana South is one of the most important mineralized zones at River Valley,” CEO Harry Barr said in a statement. “The fact that there now appears to be even more higher-grade mineralization there than is included in the current Mineral Resource Estimate is very encouraging for the future exploration upside of the River Valley Project.”
Looking ahead, the plan is to fully model the drill hole results and expand the Dana South zone through additional step-out drilling as part of the company’s 2023 exploration program, Barr said.
The mineralization at the Dana South-Extension target remains open to expansion by drilling along strike and at depth.
A full breakdown of the results can be found here.
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 Andrew Kessel at andrew.kessel@proactiveinvestors.com
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