New Age Metals (TSX-V:NAM, OTCQB:NMTLF) Inc has announced the results of multiple high-resolution UAV-borne magnetic surveys which were completed in 2021 by EarthEx Geophysical Solutions over its Lithman West, Lithman East, Lithman North, Lithium Two, and Cat Lake Properties in Manitoba.
The explorer said the surveys were completed to provide highly detailed magnetic maps to aid in the exploration, geological mapping, and drill-targeting of the highly prospective target areas.
The surveys were successful in identifying multiple prospective trends that enhance the potential for additional discoveries, it added. The 2021 geophysical programs in Manitoba were co-funded by a C$46,000 grant from the Manitoba Chamber of Commerce's Manitoba Mineral Development Fund.
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"The results of the high-resolution UAV-borne magnetic survey in combination with other exploration techniques will be valuable in defining additional areas with high potential to host lithium-bearing pegmatites and advance the company's projects,” chairman and CEO Harry Barr said in a statement. "We look forward to conducting follow-up surface exploration to ground-truth these geophysical targets in 2022.”
New Age Metals said its properties in Southeast Manitoba are strategically situated within the Winnipeg River Pegmatite Field, which hosts the world-class Tanco Pegmatite that has been mined for tantalum, cesium and spodumene in varying capacities, since 1969.
The company noted that the Lithium Two property survey results identified multiple offsetting features and potential structural breaks in the magnetic data cutting the regional geological trends. These structures coincide with the orientation of known high-grade lithium-bearing pegmatitic dikes (Eagle Pegmatite) and can be used to vector future drill targeting.
“This data may allow us to extend the strike length of known mineralization where outcrop is not exposed on surface and explore for parallel trends both north and south of the Eagle Pegmatite,” it said.
It said a one-week follow-up program in the fall of 2021 found unmapped pegmatites associated with multiple structural features identified in the magnetic survey results, confirming the value of the data as an exploration tool.
A more comprehensive program of mapping and surface sampling is being planned for the upcoming summer to follow up the results of the UAV-borne magnetic surveys on the five survey grids, the company added.
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 stephen.gunnion@proactiveinvestors.com