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NAM Announces Rhodium Assay Program for River Valley in Q4 2020
(TheNewswire) September 29, 2020 - TheNewswire - Rock...
About this update from New Age Metals Inc
[{"type":"text","content":"NAM Announces Rhodium Assay Program for River Valley in Q4 2020\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 September 29, 2020 -\n \n \n TheNewswire\n-\n \n \n Rockport,\nCanada - New Age Metals Inc. (NAM) (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)\n \n \n (\"NAM\" or the\n\"Company\")\n \n \n NAM is\npleased to announce its Q4 2020 program for the River Valley Palladium\nProject near Sudbury, Ontario. The primary focus of the program is a\nPhase 1 of a multi-phase rhodium assay program designed to prove-up\nthe world's most valuable metal as a payable component of River\nValley. Chairman & CEO Harry Barr stated; \"We have seen the\nprice of rhodium run from $6,050 an ounce to a high of $13,800 this\nyear and the company plans to investigate the potential economic metal\ncredit that rhodium offers at River Valley. We know the project\ncontains rhodium as evidenced by its presence in our latest Mineral\nResource Estimate. However, rhodium was not included as a payable\nmetal in our 2019 Preliminary Economic Assessment (PEA), due to\ninsufficient number of assays and limited metallurgical recovery\ninformation. The Mineral Resource Estimation work completed to date\nshows over 25,000 ounces of rhodium in the Measured plus Indicated\nresource classification and an additional 20,000 ounces in the\nInferred classification.\n \n \n The highest-grade rhodium assay is 0.873 g/t Rh\nfor drill core from the Lismer North Ridge Zone\n \n \n . The first phase of the rhodium work will\nfocus on the northern area of the Project, where initial production\nwould potentially begin as determined in the 2019 PEA Study.\n \n \n This potential\nmetal credit may be significant at current pricing and our objective\nis to complete sufficient re-assaying and metallurgy to prove that\nrhodium could provide up to 5% of the Project's payable metal\npackage\".\n \n \n \n \n \n Rhodium Market\n \n \n \n \n \n \n \n Rhodium (Rh), one of the six Platinum\nGroup Metals, is a silver-white metallic element that is highly\nreflective and strongly resistant to corrosion. Rh's primary use is in\ncatalytic converters of automobiles, where it reduces the amount of\nnitrogen oxides (NOx) exhaust gases emitted into the atmosphere.\n \n \n \n \n In 2019,\nalmost 90% o...