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New Age Metals/Azincourt Energy Acquire Lithman East Extension, Expands Lithium Project Portfolio in Southeast Manitoba
(via TheNewswire) 1. Lithium Canada Development is the 100% owned subsidiary of New ...
About this update from New Age Metals Inc
[{"type":"text","content":"New Age Metals/Azincourt Energy Acquire Lithman East Extension, Expands Lithium Project Portfolio in Southeast Manitoba(via TheNewswire)\n \n \n\n\n1.Lithium Canada Development is the 100% owned subsidiary of New Age Metals (NAM) who presently has an agreement with Azincourt Energy Corporation (AAZ) whereby AAZ will now commit an additional $250,000 in exploration expenditures and issue NAM an additional 250,000 shares of AAZ. This increases AAZ's initial 50% exploration expenditure earn in for AAZ from $2.1 million to $2.350 million. This acquisition will also increase the shares to be issued to NAM from 1 million to 1.250 million and add an additional 2% royalty for NAM. For additional information on the NAM/AAZ option/joint-venture see the news release dated Jan 15th, 2018. \n\n\n\n2.AAZ has also agreed to increase the minimum exploration commitment for 2018 from $500,000 to $600,000 \n\n\n\n3.The 2018 budget will allow for 2 out of the 3 drill ready projects to be drilled and preliminary field work and additional ground proofing to be completed. \n\n\n\n4.The Lithman East Extension, another Lithium-bearing pegmatite project in the Winnipeg River Pegmatite Field, consists of 12 claims for a total of 3072 hectares (7591 acres) (figure 1) and adds to NAM/AAZ's growing Lithium project inventory in this large pegmatite field. \n\n\n\n5.Lithium has an ever increasing demand for batteries in electric cars cellphones, laptops, solar storage, wireless charging and renewable energy products. \n\n\n\n6.New Age Metals flagship project is the River Valley Project, which is the largest undeveloped primary Platinum Group Metals (PGM) resource in North America, with 4.6 Moz PdEq in Measured Plus Indicated including an additional 2.6 Moz PdEq in Inferred. The River Valley PGM Project is located in Ontario and has an excellent infrastructure and is within 100 kilometers of the Sudbury Metallurgical Complex. The project is 100% owned by New Age Metals (see news releases dated March 21st, 2018 and April 11th, 2018). \n\n\n\n\n \nMay 2nd, 2018 / TheNewswire / Rockport, Canada - New Age Metals Inc. (TSX.V: NAM; OTCQB: NMTLF; FSE: P7J.F) is pleased to announce that through its Lithium Division, Lithium Canada Developments (LCD) it has acquired 100% of the Lithman East Extension Project, by way of staking, in southeast Manitoba \n\n\n \nThe new Lit...