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New Energy Metals Provides Technical Update on Troitsa Copper Project and Files NI 43-101 Technical Report
VANCOUVER, British Columbia, May 11, 2023 (GLOBE NEWSWIRE) -- New Energy Metals Corp. (TSXV: ENRG) (OTCPink: NEMCF) (“New Energy” or the “Company “) is pleased
About this update from New Energy Metals Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, May 11, 2023 (GLOBE NEWSWIRE) -- New Energy Metals Corp. (TSXV: ENRG) (OTCPink: NEMCF) (“New Energy” or the “Company “) is pleased to provide an update on its Troitsa Copper Project (“Troitsa” or the “Project”) and announces the filing of a Technical Report in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”) (the “Report”). The Report is available on SEDAR at www.sedar.com and the Company's website, www.new-enrg.com. The Report represents an important milestone for the Company as it provides a comprehensive and independent evaluation of the mineralization of the Project. The Report is effective as of November 17, 2022, and follows the approval of the Troitsa option agreement by the TSX Venture Exchange (the “Exchange”). The Project is located in Central British Columbia, southwest of Troitsa Lake, on the western Nechako Plateau. It comprises 26 mineral tenures covering an area of 7,013.9 hectares. The Troitsa stock is a porphyry copper-moly prospect and a member of the Late Cretaceous Bulkley Suite, generated in a zone of tectonic crustal thickening known as the Skeena Arch. The Report confirms the presence of significant mineralization on the property, including copper, molybdenum, gold, and silver. The Report also outlines a number of exploration targets and recommends further exploration work to fully evaluate the potential of the Project. \"The Report represents a significant step forward for New Energy,\" states Rishi Kwatra, CEO of the Company. \"It provides valuable information for investors and stakeholders and underscores the significant potential of the Project.” The Main Zone was extensively tested in the 2010 to 2013 period by Callinex Mines Inc. (“Callinex”). Highlights include: 121-meter-long series of channel samples, revealing long intervals of mineralization including 20-meter intervals that grade 0.57% Cu within an average grade of 0.28% over the 121-meter length. Long intercepts of mineralization confirmed in two drill holes by check samples, including a 3.2 kg check sample grading 0.52% Cu consisting of several pieces of split core from the interval 13.8 m to 34.3 m in Tr11-07, compared to the intercept grade of 0.64% Cu, and a 1.2 kg check sample grading 0.98% Cu from interval 150.6 to 171.6 meters in Tr1...