Business
New Age Metals Commences Drilling at River Valley PGM Project Near Sudbury
(via TheNewswire) - The River Valley Project is one of North America's...
About this update from New Age Metals Inc
[{"type":"text","content":"New Age Metals Commences Drilling at River Valley PGM Project Near Sudbury(via TheNewswire)\n \n \n\n\n- The River Valley Project is one of North America's largest undeveloped primary Platinum Group Metal (PGM) projects. The Project has excellent infrastructure and is within 100 kilometres of the Sudbury Metallurgical Complex. The Project is 100% owned by New Age Metals\n\n\n\n- The Company has contracted Jacobs & Samuel Drilling Ltd of Val Caron, Ontario to conduct a phase one 1,600 metre drill program at the River Valley Project and drilling has begun\n\n\n\n- The Company completed a $2M financing on February 3, 2020. The primary use of proceeds will be to follow-up on recommendations from the 2019 Preliminary Economic Assessment (PEA)\n\n\n\n- Eric Sprott became a strategic shareholder and has an 18.56% ownership of the Company's current issued and outstanding shares on a post-conversion beneficial ownership basis\n\n\n\n- In January, the Company announced that it engaged IBK Capital Corp to assist the Company in evaluating strategic alternatives to maximize shareholder value\n\n\n\n- The Company is actively seeking an option/joint venture partner for its Genesis PGM Project in Alaska and for our Lithium division in Manitoba\n\n\n\n\n \nMarch 26th, 2020 - TheNewswire - Rockport, Canada - New Age Metals Inc. (TSXV:NAM); (OTC:NMTLF); (FSE:P7J) Harry Barr, Chairman & CEO, stated; \"New Age Metals is pleased to announce that the company is about to commence the next phase of drilling at the River Valley PGM deposit near Sudbury, Ontario. The company plans to drill about 1,600m of core in five holes to test high-priority targets within and adjacent to the Pine Zone and Dana North Zone of the River Valley deposit. This drill program is the first phase of our 2020 exploration and development program, and will run through April. The Company continues to monitor the COVID-19 pandemic and is evaluating the potential risks to our staff and contractors. In light of the fluid nature of events the Company would like to note that there is no certainty that the current exploration activities will be completed without interruption.\"\n\n\n \nThe purpose of the drill program is to test three Pine Zone target types: 1) induced polarization (IP) chargeability highs from the 2017 geophysical survey for extensions of the Pine Zone or new d...