New Age Metals Inc (TSX-V:NAM, OTCQB:NMTLF) said it has acquired 19,321 hectares of mineral exploration license (MEL) area at McLaughlin Lake in Manitoba, expanding its lithium portfolio.
The company said the MEL covers approximately 30 kilometres strike length of the Stull-Wunnummin Fault structure.
The property hosts spodumene-bearing pegmatites with historical assay values up to 2.87% lithium oxide and numerous prospective LCT-style pegmatites, New Age Metals said.
The company noted that all the claims are held by Lithium Canada Development, a 100% owned Lithium Division of New Age Metals, and it is looking for a strategic partner to advance the project to a drill-ready stage.
“With the strong competition in today’s lithium market for available and prospective projects, we are thrilled to acquire such a large, underexplored area with mapped occurrences of lithium-bearing pegmatites,” commented New Age Metals CEO Harry Barr.
“The acquisition of the McLaughlin Lake lithium project expands our Manitoba Lithium Division land position by 79% to an amalgamated 43,870 hectares confirming our commitment to delivering shareholder value through project generation and development.
“The company looks forward to working with local First Nation(s), local stakeholders, and the Province of Manitoba to increase the lithium economic potential in the region.”
New Age Metals is a junior mineral exploration and development company focused on the discovery, exploration, and development of green metal projects in North America.
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