Base Metals
New Age Metals (TSXV:NAM) Commenced Lithium One Project Maiden Drill Program on September 1, 2022
New Age Metals (TSXV:NAM) has announced that on September 1, 2022 it commenced its maiden drill program at its Lithium One Project in Southeastern Manitoba….
New Age Metals (TSXV:NAM) has announced that on September 1, 2022 it commenced its maiden drill program at its Lithium One Project in Southeastern Manitoba. The property is located in the Winnipeg River Pegmatite Field known for the numerous Li-bearing pegmatite showings.
Critical to the project is the active exploration agreement the company has with the Sagkeeng First Nation. New Age will work with members of Sagkeeng throughout the project. Sagkeeng will be an important partner in consultation with New Age Metals to ensure that the project is carried out with respect to local needs.
Figure 1: White spodumene blades in a matrix of lepidolite (Lithium Mica) from the Silverleaf showing. Spodumene blades can reach a length of up to 40 centimetres and a width of 10 centimeters.
The Lithium One Property is part of the world-renowned Tanco Pegmatite, which has been mined for Tantalum, Cesium, and Lithium in varying amounts since 1969. The historic presence of several surface Pegmatites of various sizes and compositions in the area surrounding the Lithium One Project has made it famous for its Silver Leaf Pegmatite.
The planned drilling program’s focus is to target the down-dip extension and lateral continuity of the Silverleaf Pegmatite. This will be done with 10 drill holes that go 150 meters deep at surface. The targeting has been better defined by 3D modelling historic drill results as well as newly acquired airborne gradient magnetics data.
The Silverleaf Pegmatite is a highly fractionated Lithium-bearing Pegmatite that dips shallowly. Shallow diamond drilling and trenching have been used to explore the deposit for approximately 170 meters on either side of strike, with a maximum width of about 30 m. The lepidolite-spodumene (lithium-bearing) zone outcrops as three large masses individually up to 23 x 6 m in size.
The open pit began in the late 1920s, when a substantial sample of spodumene was dug from the southwest side of the Silverleaf Pegmatite. Due to fluctuations in market conditions and commodity rates, large-scale mining operations were not attempted at that time.
Figure 2: New Age Metals land holdings, Southeast Manitoba
New Age Metals is a junior mineral exploration and development company with two divisions: Platinum Group Metals & Lithium/Rare Element. Based in North America, their green metal projects have the potential to make a large impact in the near future, and beyond.
The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.
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