New Age Metals (TSX-V:NAM, OTCQB:NMTLF) Inc and partner Mineral Resources, have revealed that a maiden drill program has kicked off at the Lithium One project in Manitoba, Canada.
New Age's lithium division is the largest claim-holder in the Winnipeg River pegmatite field and its exploration there is being funded by Mineral Resources—the fifth largest lithium producer in the world.
Manitoba-based Rodren Drilling has been hired as drilling contractor, while Axiom Exploration will manage the work.
The drilling will target the down dip extension and lateral continuity of the Silverleaf Pegmatite and comprise ten holes to a maximum depth of 150 metres (m). The targeting has been further defined by 3D modeling of historic drill results as well as newly acquired airborne gradient magnetics data.
"The deposit has been traced by shallow diamond drilling and trenching along strike for approximately 170 meters with a maximum width of about 30m," added New Age Metals (TSX-V:NAM, OTCQB:NMTLF).
READ: New Age Metals boosts land holdings in lithium-rich Winnipeg River Pegmatite Field
The Lithium One asset sits within the Winnipeg River Pegmatite Field which is known for the presence of numerous lithium-bearing pegmatite showings including the Silverleaf Pegmatite.
Surface samples from the Silverleaf Pegmatite have yielded assays of up to 4.33% lithium oxide.
New Age Metals (TSX-V:NAM, OTCQB:NMTLF) 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 the author at giles@proactiveinevstors.com