Canadian Mining Journal


PGM: New Age releases resource for River Valley

Core from New Age Metals’ River Valley PGM project near Sudbury, Ont. (Image: New Age Metals)

ONTARIO – New Age Metals has released a new measured and indicated resource for its River Valley platinum group metals project about 60 km east of Sudbury. With a cut-off of 0.4 g/t palladium equivalent, the M&I portion contains more than 4.6 million oz. of palladium equivalent. The inferred portion contains 2.7 million oz.

Or stated otherwise: River Valley hosts 160.7 million measured and indicated tonnes grading 0.27 g/t palladium, 0.17 g/t platinum, 0.02 g/t rhodium, 0.03 g/t gold, 0.05% copper, 0.01% nickel and 0.002% cobalt. The inferred resource is 127.7 million tonnes grading 0.27 g/t palladium, 0.12 g/t platinum, 0.01 g/t rhodium, 0.02 g/t gold, 0.05% copper, 0.02% nickel and 0.002% cobalt.

The River Valley mineralized contact strikes 16 km through New Age Metals’ claims, and there is the possibility of other footwall mineralization zones. The company plans to conduct a group induced polarity survey and continue drilling in the northern part of the property.

The project is being advanced toward a preliminary economic assessment. New Age would establish a series of open pits. The ore will be concentrated on site and the concentrates shipped to Sudbury for further processing.

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