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New Energy Metals Corp. Announces Results of VIP/MT Survey at Exploradora North; Porphyry Copper-Gold Prospect, Chile; 25+ Square Kilometer High Chargeability Anomaly Trending to Codelco Boundary on the South
Vancouver, British Columbia--(Newsfile Corp. - August 19, 2019) - New Energy Metals Corp. (T...
About this update from New Energy Metals Corp.
[{"type":"text","content":"New Energy Metals Corp. Announces Results of VIP/MT Survey at Exploradora North; Porphyry Copper-Gold Prospect, Chile; 25+ Square Kilometer High Chargeability Anomaly Trending to Codelco Boundary on the SouthVancouver, British Columbia--(Newsfile Corp. - August 19, 2019) - New Energy Metals Corp. (TSXV: ENRG) (OTC Pink: NEMCF) (\"New Energy Metals\" or the \"Company\") is pleased to announce results from the initial 3D Vector Induced Polarization (\"VIP\") and Magneto-Telluric (\"MT\") geophysical survey carried out on the Exploradora North porphyry copper-gold prospect (\"Exploradora North\" or the \"Property\") (Figure 1) along the West Fissure branch of the regional Domeyko Fault system, northern Chile. Exploradora North covers approximately 85,000 hectares and is directly north of the on-going deep drilling at CODELCO's Exploradora project, which previously reported near surface drill results of 100 metres grading 0.3% copper and 0.2 g/t gold (Society of Economist Geologists, Special Publication 11, 2004, pages 97-111) (Figure 2). New Energy holds an option over the lands of Exploradora North with the expressed purpose of discovering and delineating potentially near surface and deep porphyry copper-gold and skarn mineralization. Due to the depth of potential deposits (below 600 meters) and the presence of post-mineral cover, deep-seeking geophysical methods have been utilized in the first phase of exploration at Exploradora North. Previous drilling on Exploradora North has not been carried out below a depth of 600 meters, which is the approximate depth to the top of mineralization at CODELCO's El Salvador copper mine, 70 kilometers to the south. The El Salvador Mine had an original resource of approximately 300 Mt of 1.5% copper that started underground mining production in 1959 and is currently in operation.New Energy has defined a number of prospects on the southern border of Exploradora North as shown in Figure 3, including the Chorreado prospect, a porphyry-type exposure with more than 25 square kilometres of intensely leached intrusions and breccias and limonite, which is indicative of leaching of chalcocite, and copper-bearing skarns. Cautionary Note Regarding Adjacent Properties - CODELCO's underground El Salvador mine is an adjacent property, which the Company has no interest in or right to acquire. Mineral deposits ...