New Age Metals (TSX-V:NAM, OTCQB:NMTLF) Inc announced, in conjunction with its partner Mineral Resources Ltd (ASX:MIN), that it has increased its land position in the highly-prospective Winnipeg River Pegmatite Field from 11,620 to 21,611 hectares, adding 8,984 new hectares through claim staking.
The junior mineral exploration and development company said it is now the largest claimholder in the Winnipeg River Pegmatite Field, with 11 properties totalling 21,611 hectares.
New Age Metals also noted its C$1.8 million exploration budget for 2022 includes geophysics and prospecting over portions of these new holdings.
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It added that the expanded land position, identified from historical data compilation and review, incorporates prospective trends and pegmatite groups with the potential to host lithium, cesium, and tantalum-bearing pegmatites.
The Winnipeg River Pegmatite Field is host to numerous lithium-rich pegmatites in addition to the world-class Tanco Pegmatite, a highly fractionated lithium-cesium-tantalum (LCT) type pegmatite that has been mined at the Tanco Mine as an underground operation for tantalum, cesium, and lithium since 1969, according to the company.
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 Sean at sean@proactiveinvestors.com