New Age Metals said it has received encouraging drill results from its second phase drilling at its Lithium Two project which warrant further exploration.
The drill program, carried out in conjunction with partner Mineral Resources Limited (MinRes), was completed in March and consisted of 16 diamond drill holes totalling 3,086 metres (m).
It targeted the down dip extension of the Eagle Pegmatites zone and nearby pegmatites and magnetic low anomalies/structures identified in the 2021 UAV magnetics survey.
Drilling successfully intersected spodumene-bearing pegmatite in all drill holes targeting the Eagle Pegmatite with a consistent steeply dipping orientation, New Age Metals reported in a statement.
It also extended the know high-grade lithium mineralization zone below 150 m vertically and remains open at depth.
Highlights from the 2023 assays include 1.08% lithium oxide (LiO) over 8.7 m, 1.06% LiO over 6.85 m, and 1.06% LiO over 5.9 m.
New Age Metals also noted that newly encountered spodumene-bearing lenses close to FD No. 5 Pegmatite warranted further exploration.
The company said it was in the process of applying for 2024 winter drill permits to test additional targets at Lithium Two.
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. The company has two divisions: a Platinum Group Metals division and a Lithium/Rare Element division.
Contact the author at emily.jarvie@proactiveinvestors.com
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