New Age Metals (TSX-V:NAM, OTCQB:NMTLF) Inc has announced an update on the pre-feasibility study (PFS) of its River Valley Palladium project located near Sudbury, Ontario.
An ongoing mineral processing and metallurgical testing program at SGS Canada Inc (managed on behalf of the company by DENM Engineering Ltd) is nearing completion, the company said. The top priority of the program has been the Dana (South and North) and Lismer (Ridge and North) mineralized zone master and grade variability composites.
Grindability testing and flotation testwork on Dana and Lismer master composites that commenced in March are now complete. The in-depth flotation work was undertaken on the Lismer and Dana composites under locked cycle testing (LCT). Included in this exercise was the in-depth review of rhodium recovery for River Valley. The aforementioned LCT indicated 39.1% base rhodium recovery at Lismer and 41.% at Dana.
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In addition to LCT, variability work on higher-than-life-of-mine grades was conducted. Initial results have indicated possible higher recoveries and final grades at feed grades of greater than 1 gram per ton (g/t) of silver/platinum/palladium (known as 3E).
In a 2019 preliminary economic assessment (PEA), head grades of less than 1 g/t 3E were planned to be processed in the first three years of operation at River Valley. This modeling is underway for the PFS and will be reported accordingly, the company said.
Ultimately, the primary goal of the metallurgical testing was to produce a marketable single bulk copper concentrate (as in no selective flotation products) with associated platinum group metals as part of the concentrate.
Additionally, New Age Metals said that other advancements in the PFS of the River Valley Palladium project, such as in the geomechanical-hydrogeological-geotechnical, environmental and community relations and open pit mine design areas, will be reported in a future statement.
The PFS is expected to be completed in the fourth quarter of 2022, the company noted.
New Age Metals is a junior explorer focused on the discovery, exploration, and development of green metal projects in North America. It has two divisions— a platinum group metals division and a lithium/rare element division.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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