New Age Metals given green light to explore gold-antimony properties

New Age Metals (TSX.V: NAM; OTCQB: NMTLF) announced it has received a letter of acceptance from the mineral lands division of the Government of Newfoundland and Labrador, authorizing grassroots-level exploration on its recently staked gold-antimony (Au-Sb) properties in central and south-central Newfoundland. The acceptance enables NAM to initiate its 2025 exploration program, which involves activities such as mineral prospecting, geological mapping, geochemical sampling, channel sampling, and backpack drilling.

The company has said phase 1 exploration will commence in mid-May.  The company’s technical consultants have designed a two-phase exploration program for 2025. Phase 1 is focused on 1^st-pass mineral prospecting and field mapping of known mineralized occurrences, prospective trends identified from desktop reviews, and outcrop exposures throughout the properties. From the results of phase 1, phase 2 will focus on more detailed follow-up geochemical surveys, geological mapping, and rock sampling of promising mineralized showings. 

NAM staked 175 additional ha across three licenses, bringing its total Newfoundland landholding to 19,300 hectares across 10 properties. These map-staked properties are situated along the same geological trend as the Beaver Brook antimony mine, Canada’s only primary antimony (past) producer, and near New Found Gold’s Queensway South gold project. Gold prices have reached ~US$3,500/oz amid geopolitical uncertainty. Antimony (Sb), a critical metal, has surged to ~US$51,500/tonne as North America seeks secure supply chains.

Harry Barr, chairman and CEO stated, “Receiving the letter of acceptance is an important milestone for our Newfoundland Au-Sb division. We would like to thank the Government of Newfoundland and Labrador for their continued support and for implementing a clear and efficient permitting process. NAM is pleased to continue working with Axiom Exploration Group Ltd. (“Axiom”), our longstanding technical partner, who has identified numerous high-priority target areas and will manage and execute the 2025 exploration program on our behalf. We are looking forward to getting boots on the ground.”

New Age Metals has also received government permits for reconnaissance exploration on all NAM’s Au-Sb properties.  The Department of Industry, Energy and Technology of the Newfoundland government reviewed and approved permits through the mineral lands division. By issuing the permit, the responsible government department accepted the prospecting, small-scale channel sampling, back-pack drilling, and geochemical survey work as outlined in the application. As a result, NAM plans to commence Phase 1 of its planned two-phase exploration program in mid-May.

More information is posted at www.NewAgeMetals.com.