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New Age Metals/Azincourt Energy Acquire Option to 100% of the Mining Rights for Lithium, And Rare Earths for Lithium Two Project From Mustang Minerals
(via TheNewswire) 1. NAM exercised its option agreement with Mustang Minerals to expl...
About this update from New Age Metals Inc
[{"type":"text","content":"New Age Metals/Azincourt Energy Acquire Option to 100% of the Mining Rights for Lithium, And Rare Earths for Lithium Two Project From Mustang Minerals(via TheNewswire)\n \n \n\n\n1.NAM exercised its option agreement with Mustang Minerals to explore on the Cat 4 claim, which will be added to the Lithium Two Project and contains the western extension of the Eagle Pegmatite. An agreement to clarify terms and conditions has been signed. \n\n\n\n2.New Age Metals and its Option/Joint-Venture Partner Azincourt Energy Corp. (AAZ) plan to explore the westward extension of the Eagle Pegmatite which is the main Lithium bearing pegmatite on the Lithium Two Project. \n\n\n\n3.New Age Metal/Azincourt Option/Joint-Venture has added strategic mineral rights to the company's portfolio and maybe the possible extension of the Eagle Pegmatite. The NAM/AAZ Option/Joint-Venture is now largest claim holder in the Winnipeg River Pegmatite Field, the Option/JV are now in possession of an approximate total of 14,100 hectares (34,800 acres). The companies eight Manitoba projects have excellent infrastructure are located in a mining friendly jurisdiction. The Option/ Joint-Venture now has eight projects in this large undeveloped Lithium, Tantalum, Cesium, and Rare Metals bearing pegmatite field. \n\n\n\n4.Preliminary field work and additional ground proofing is completed on the Lithium Two Project and the exploration crew is exploring the eastern claim blocks. The objective of this work is to finalize a drill plan and initiate a drill program, which is slated for the late summer 2018. Management of both companies plan to update their shareholders and interested parties with a complete exploration plans for all eight projects and continue to do monthly updates on a regular basis. The minimum exploration budget for 2018 is $600,000. \n\n\n\n5.The Lithium Two Project is a part of the Cat Lake portion of the Cat Lake - Winnipeg River Pegmatite Field. The Winnipeg River Pegmatite Field hosts the World-Class Tanco Pegmatite which has been mined since 1969. The Lithium Two Project contains several lithium bearing pegmatites with a historic non 43-101 compliant 1947 drilled resource on the Eagle Pegmatite (see figure 2) of 545,000 tonnes of 1.4% Li2O to a depth of only 60 meters. Historical reports have suggested that the Eagle Pegmatite is open to depth and along...