New Age Metals (TSX-V:NAM, OTCQB:NMTLF) Inc has announced updated exploration plans for its River Valley palladium property, located 100 kilometers east of Sudbury in northeastern Ontario, and kicked off a Phase 1 drill program earlier this week.
The company has worked-up several exploration targets, which it has ranked and prioritized for drill testing in fall 2022 and winter 2023. The highest ranked targets for drill testing are the Dana South zone-extension target, the Dana South zone-SET target, Pine zone and Banshee zone.
A diamond drill rig has been mobilized to the site and commenced a Phase 1 drill program at the Dana South zone-extension target on Tuesday, the company said.
READ: New Age Metals announces start of maiden drill program at Lithium One project in Manitoba
The Dana South zone-extension target was recently identified from core assays of drill hole KP21-05, which returned 1.129 grams per ton of palladium-platinum-gold over 84 meters within the Breccia Unit of the River Valley Intrusion.
This higher-grade mineralization extends southeastward beyond the previously interpreted, faulted-limited boundary of the Dana South zone, and therefore represents a recently recognized opportunity to expand this key zone in that direction, the company said.
The plan is to test this expansion opportunity in September with a 5-hole, 1550 m drill program. The 5 holes will be done in two cross-sections in order to test for presence of the higher-grade mineralization,up-dip, down-dip and southeast along strike of the KP21-05 intersection.
Following completion of the program at the Dana South zone-extension target, the rig may be moved to the next priority ranking target.
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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