Canadian Mining Journal

News

PGM: New Age updates resources at River Valley



ONTARIO – New Age Metals of Vancouver has updated the resource numbers for its River Valley platinum group metals project 60 km northeast of Sudbury. The new numbers incorporate all past data, geophysics, new drilling since 2015, plus the River Valley Extension including the new footwall discovery at the Pine and T3 zones.

Split core from the River Valley PGM project near Sudbury, Ont. (Image: New Age Metals)

The property has 160.7 million measured and indicated tonnes averaging 0.44 g/t palladium, 0.12 g/t platinum, 0.01 g/t rhodium, 0.03 g/t gold, plus measurable copper, nickel and cobalt. That portion of the deposit contains 3.3 million oz. of PGM and gold.

The inferred resource is 127.7 million tonnes at 0.27 g/t palladium, 0.12 g/t platinum, 0.01 g/t rhodium, 0.02 g/t gold, and copper, nickel and cobalt. This portion of the deposit contains 1.6 million of PGM and gold.

New Age says that the mineralization at River Valley is spread over 16 km. Drilling will continue to the north and more targets will be chosen. A ground IP study and mineralogical studies are planned. A preliminary economic assessment is in the works, but the company gave no date for its completion.

More information about River Valley and New Age’s lithium projects is posted at www.NewAgeMetals.com.