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2022/2023 Budget Increases to $2.3 Million to Drill Additional 1500 Meters at Lithium Two Project, Update on 2022 Exploration Activities, Lithium Division, Manitoba
(TheNewswire) February 22, 2023 – TheNewswire - Rockport, Ontario - New Age ...
About this update from New Age Metals Inc
[{"type":"text","content":"2022/2023 Budget Increases to $2.3 Million to Drill Additional 1500 Meters at Lithium Two Project, Update on 2022 Exploration Activities, Lithium Division, Manitoba\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n February 22, 2023 –\n \n \n TheNewswire -\n \n \n Rockport, Ontario - New Age Metals Inc. (TSXV:NAM\n \n \n )\n \n \n ;\n \n \n (\n \n \n OTC:NMTLF\n \n \n )\n \n \n ;\n \n \n (\n \n \n FSE:P7J.F) (“NAM” or\nthe “Company”) in conjunction with its Farm-in/Joint Venture\nagreement with Mineral Resources Ltd. (“MRL”) is pleased to\nannounce that the companies have agreed to extend the current budget\nof $1.8 million to $2.3 million.\n \n \n The funds will be used to add an additional 1500 meters to the\ncurrent Lithium Two drill budget.\n \n \n The 2022/2023\nbudget of $2.3 million is expected to take the project to early April\n2023.\n \n \n \n \n Included in this release is the\nresults of the 2022 exploration activities with regards to the\ncompany’s Manitoba Lithium Projects.\n \n \n Property\nwide reconnaissance, geological mapping, first pass surface sampling,\nand helicopter-borne magnetics were completed from early June to\nmid-September 2022.\n \n \n The summer\nprogram successfully outlined several new target areas for further\nsampling and drilling.\n \n \n In addition, 1063 meters\nof drilling was completed on the Lithium One Property’s Silverleaf\nshowing to test the extent of the mineralization exposed at surface.\n \n \n The company is encouraged by\nthe first preliminary exploration program that confirmed anomalous\nlithium values on multiple properties.\n \n \n \n \n • Property wide prospecting and rock sampling\nidentified previously unmapped LCT pegmatites and multiple areas of\nelevated lithium, cesium, tantalum, and rubidium values\n \n \n \n \n • Lithium One Drill results show anomalous lithium\nand cesium values extending 300 m along strike of the Silver Leaf\nShowing.\n \n \n \n \n •   5600 hectares of helicopter gradiometer\nmagnetics with simultaneous LiDAR completed to guide future\nexploration efforts.\n \n \n \n \n • NAM’s projects cover 21,611 hectares. Additional\n2022 acquisitions took NAM up from 7 to 11 projects, all of which are\nstrategica...