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New Age Metals hits high-grade lithium oxide at Lithium Two project in Manitoba

Published: 09:54 30 Mar 2022 EDT

New Age Metals -
New Age Metals said its initial drill program at Lithium Two consisted of 15 diamond drill holes totalling 1,630 metres

New Age Metals (TSX-V:NAM, OTCQB:NMTLF) Inc announced assay results for the maiden drill program at its Lithium Two project in Manitoba, which included up to 2.5% lithium oxide (Li2O) over 3.0 metres (m) within 21.8m of 0.8% Li2O.  

The company said high-grade lithium mineralization was intersected in 11 drill holes along the Eagle Pegmatite, which confirmed historic drilling grades.

“We are encouraged by the results of our first drilling campaign on the Lithium Two Property,” New Age Metals (TSX-V:NAM, OTCQB:NMTLF) CEO Harry Barr said in a statement.

READ: New Age Metals seeing good results from rhodium assay program at its River Valley project in Ontario

“This gives us confidence in the property’s potential to host more significant mineralization, and that by using modern exploration techniques we can expand on the historic results,” Barr added.

The initial drill program consisted of 15 diamond drill holes totaling 1,630m.  

New Age Metals (TSX-V:NAM, OTCQB:NMTLF) also noted that it applied for, and has received, drill permits for an additional 1,500m of drilling over 10 holes at Lithium Two, which will further test the down-dip extension of mineralization as well as evaluate other targets on the property.

The company also reported that a comprehensive exploration plan for 2022 has been delivered to its partner Mineral Resources Limited for approval and a final budget for the year is expected to be approved in the next 30 days.

It added that this year’s exploration, which is set to begin in the spring, will include Helicopter-Borne Tri-Axial Magnetic Surveying on all remaining ground not covered by the 2021 surveys, as well as recent claim acquisitions, and diamond drilling of the ‘Silverleaf’ target on Lithium One.

New Age Metals is a junior mineral exploration and development company focused on the discovery, exploration and development of green metal projects in North America. The company has two divisions; a Platinum Group Metals division and a Lithium/Rare Element division.

Contact Sean at sean@proactiveinvestors.com

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