New Age Metals (TSX-V:NAM, OTCQB:NMTLF) Inc has announced new palladium (Pd) assay results for channel samples taken from a trench excavated on an area of mineralized outcrops in the footwall to the Dana South Zone at its River Valley palladium deposit near Sudbury, Ontario, which included grades of up to 6.1 grams per tonne (g/t) palladium, 1.9 g/t platinum, and 0.3% copper.
The company said the palladium mineralization could represent an opportunity to expand Dana South eastwards, or is a new discovery in the footwall to the River Valley deposit.
“The Pd mineralized potential of the footwall to the River Valley Deposit continues to impress. From discovery of the Pine Zone in 2015 (1 km north of the Dana South Zone) to indications of mineralized footwall at Lismer North and now at Dana South, the potential for exciting new discoveries at River Valley remains surprisingly high,” New Age Metals (TSX-V:NAM, OTCQB:NMTLF) CEO Harry Barr said in a statement.
“As Russia is the world’s largest producer of palladium, the current sanctions have driven the palladium price to new all-time highs this week,” Barr added.
New Age Metals (TSX-V:NAM, OTCQB:NMTLF) noted that the Dana South Zone is located in the northern area of the deposit, and is, therefore, a key zone in the ongoing Pre-Feasibility Study of the River Valley project.
It added that the palladium mineralization in the Southeast Trench area remains open to the north, south and west towards Dana South.
As well, the company said additional trenching and channel sampling and new drilling programs to further test continuity of this mineralization are being planned for 2022.
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 Sean at sean@proactiveinvestors.com