New Energy Metals Announces Letter of Intent to Acquire Exploradora North Project (Chile) and Stock Option Grant

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[{"type":"text","content":"New Energy Metals Announces Letter of Intent to Acquire Exploradora North Project (Chile) and Stock Option GrantVancouver, British Columbia--(Newsfile Corp. - June 6, 2019) - New Energy Metals Corp. (TSXV: ENRG) (OTC PINK: NEMCF) (\"New Energy Metals\" or the \"Company\") announces that it has entered into a letter of intent dated June 3, 2019 with certain arm's length vendors (the \"Vendors\"), whereby New Energy Metals will be granted the exclusive right and option (the \"Option\") to acquire an initial 70% royalty-free interest in and to certain exploration and exploitation mineral concessions (the \"Concessions\") referred to as the \"Exploradora North project\" (\"Exploradora North\" or the \"Project\"). The Project has a total area of approximately 84,750 hectares (40 km in length north-south) and is located in the II and III Regions of Northern Chile along the prolific West Fissure fault system between the open-pit Escondida mine, the largest copper mine in the world, to the north of the Exploradora district and CODELCO's El Salvador underground copper mine, approximately 60 km to the south of the district (\"El Salvador (CODELCO)\").Exploradora North DetailsExploradora North is located immediately north and east of the current Exploradora deep drilling project of CODELCO (\"Exploradora (CODELCO)\") within a cluster of porphyry copper deposits and prospects first discovered in the 1990's. To date, the cluster of porphyry copper (plus/minus gold and molybdenum) and skarn occurrences have only been explored to shallow depths (mostly to less than 600 meters), most recently by BHP Billiton approximately 10 years ago. In its 2018 Annual Report, CODELCO reported that its exploration activities conducted at Exploradora (CODELCO) were its most significant activity of the year, with primarily deep drill holes (with unpublished results) being carried out (see CODELCO's 2018 Annual Report, page 104). A previous near-surface resource for Exploradora (CODELCO) reported 100 Mt of 0.3 Cu and 0.2 g/t gold (Society of Economist Geologists, Special Publication 11, 2004, pages 97-111). Recently, CODELCO has also been drilling along the common boundary of the Exploradora (CODELCO) and Exploradora North (New Energy Metals) land positions.The land positions of New Energy Metals are surrounded by most of the major copper corporations of the wor...

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