Business
Updated NI 43-101 Mineral Resource Estimate 2,867,000 PdEq Measured and Indicated Ounces, with an additional 1,059,000 PdEq Ounces in the Inferred Classification River Valley Platinum Group Metal Deposit, Sudbury, Ontario
(via TheNewswire) - The amended January 9, 2019 NI 43-101 Mineral Resource Estimate ...
About this update from New Age Metals Inc
[{"type":"text","content":"\nUpdated NI 43-101 Mineral Resource Estimate 2,867,000 PdEq Measured and Indicated Ounces, with an additional 1,059,000 PdEq Ounces in the Inferred Classification River Valley Platinum Group Metal Deposit, Sudbury, Ontario(via TheNewswire)\n \n \n\n\n- The amended January 9, 2019 NI 43-101 Mineral Resource Estimate confirms that the River Valley Project has 2,867,000 Measured and Indicated PdEq ounces, with 1,059,000 PdEq ounces in Inferred at a 0.35 g/t and 2.0 g/t PdEq cut-off for open pit and underground respectively. \n\n\n\n- The amended and restated Mineral Resource Estimate presents a Mineral Resource that demonstrates reasonable prospects for eventual economic extraction.\n\n\n\n- The new pit constrained Mineral Resource will be more representative of the potentially economic portion of the Mineral Resource that will be disclosed in the upcoming 2019 Preliminary Economic Assessment (PEA).\n\n\n\n- River Valley is the largest undeveloped primary PGM Mineral Resource in North America. 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 Project's first economic study (Preliminary Economic Assessment) is slated to be completed on or before the end of Q2 2019.\n\n\n\n\n \nJanuary 15, 2019 / TheNewswire / Rockport, Canada - New Age Metals Inc. (NAM) (TSX.V: NAM; OTCQB: NMTLF; FSE: P7J.F) Harry Barr, Chairman & CEO, stated; \"The company is pleased to update our shareholders with the new amended May 2018 NI 43-101 Mineral Resource Estimate of the River Valley Platinum Group Metals (PGM) Project. As a result of a review by the British Columbia Securities Commission (\"BCSC\") the Company is clarifying the Technical Report on its River Valley PGM Project filed on May 7, 2018. WSP Canada Inc. (WSP) under the supervision of Todd McCracken, P. Geo., completed the Mineral Resource estimation. Management believes this study has upgraded the open pit bulk mining potential of this project. The May 2018 Technical Report presented a global mineral inventory whereas the January 2019 Technical Report presents a pit constrained Mineral Resource that shows reasonable prospects for eventual economic extraction. Our objective is to complete the Project's first economic study, a Preliminary Economic Assessment (PEA) on or before...