Business
River Valley Palladium Pre-Feasibility Study Update
(TheNewswire) March 2, 2023 – TheNewswire - Rockport, Ontario - New Age Meta...
About this update from New Age Metals Inc
[{"type":"text","content":"River Valley Palladium Pre-Feasibility Study Update\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 \n \n \n \n \n \n \n \n \n \n \n \n March 2, 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\n“Company”) wishes to provide an update on the Pre-Feasibility\nStudy (“PFS”) of the River Valley Palladium Project near Sudbury,\nOntario.\n \n \n \n \n In a press release dated October 28, 2022, NAM\nannounced its decision to delay completion of the PFS pending\ninvestigation and optimization of critical project enhancements and\ndevelopment of a more indicative value of the River Valley Project.\nSince then, Project options investigated include increased underground\nmining, mine plan and mineral processing enhancements, tailings\nmanagement alternatives, and converting and extending Mineral\nResources, among others, that offered potential for additional\nflexibility and better economics. Furthermore, price volatility due to\nrising inflationary pressure and economic uncertainty had made it\ndifficult to obtain suitable long-term cost quotes for site equipment\nand infrastructure systems from potential vendors.\n \n \n \n \n As a result of the 4-month investigation of the Project\noptions listed above and the continued economic uncertainty, NAM\nannounces that it now plans to complete the River Valley Project PFS\nas an updated Preliminary Economic Assessment (“PEA”) instead. The\n2019 PEA concept of a large open pit-based mining and processing\noperation at River Valley has not held-up to PFS level scrutiny. The\n2023 updated PEA will include optimization of the mine plan and\nmethods, production schedule, mineral processing and tailing storage\nfacilities for a smaller, economic operation with reduced\nenvironmental footprint. The updated PEA will be completed in summer\n2023, roughly three years since the 2019 PEA.\n \n \n \n \n About NAM\n \n \n \n New Age Metals is a junior mineral exploration and development company\nfocused on the discovery, exploration, and development of green metal\nprojects in North America. The Company has two divisions: a Platinum\nGroup Metals division a...