New Age Metals (TSX-V:NAM, OTCQB:NMTLF) Inc has revealed encouraging new drill results from the Banshee zone on its River Valley palladium project near Sudbury, Ontario.
The firm drilled 2.92 grams per ton (g/t) platinum, palladium and gold (3E) over 6 metres and 0.88 g/t 3E over 4 metres.
Another hole intersected 1.47 g/t 3E from 4 metres. All four holes intersected palladium mineralization, the company said.
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In a statement, New Age Metals said that palladium mineralization at Banshee appears open to expansion by drilling down-dip.
Drilling continues to demonstrate strength and continuity of the palladium mineralization at River Valley, CEO Harry Barr told shareholders.
“This is the first drilling completed at Banshee Zone since 2004. Intersecting the palladium mineralization after almost 20 years is very encouraging, as we plan to expand the Banshee Zone by drilling multiple down-dip and footwall targets in 2022," Barr said in a statement.
New Age Metals plans to complete another nine holes at Banshee. In addition to the expansion drilling, three in-fill drill holes are to be completed in 2022 on a single cross-section, in order to advance Inferred to Indicated mineral resources in the centre of the zone, the company said.
The Banshee Zone program in 2022 is in addition to follow-up drilling of the new, higher-grade mineralization recently exposed 700 metres to the north near the Dana South zone. Banshee is located between the core Dana zones to the north and the Lismer zones to the east and south, which collectively are the focus of the ongoing prefeasibility study of the River Valley project.
Separately, New Age said that it is saying goodbye to its vice president of business development, Cody Hunt, effective April 14.
New Age Metals is a Rockport, Ontario-based junior mineral exploration and development company focused on the discovery, exploration and development of green metal projects in North America.
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