Testing Two Project in Southeastern Manitoba
New Age Metals Inc. (TSXV: NAM; OTCQB: NMTLF) has commenced its maiden drill programme on its Lithium Two Project that is part of its Manitoba lithium division.
The company plans to drill a minimum of 1,500m. The programme is going to consist of drilling eight shallow holes to a maximum depth of 200m below surface.
The programme is financed by Mineral Resources Ltd (MRL), the world’s fifth largest lithium producer, as per the agreement between NAM and MRL.
NAM has also contracted geological consultancy, Axiom Exploration to manage the drill programme on behalf of the company, and Manitoba-based Rodren Drilling to complete the work.
Lithium Two hosts a historic non-NI 43-101 compliant mineral resource of 544,000 tonnes at 1.4% Li2O to a depth of 60m
The Eagle Pegmatite is the primary target for the maiden drill programme. It is exposed on surface and was last drilled in 1948. Surface sampling programmes at the Eagle Pegmatite conducted by NAM has yielded assays up to 3.8% Li2O.
NAM has an active exploration agreement with the Sagkeeng First Nation and will be working in partnership with members of Sagkeeng.
Chairman and CEO, Harry Barr, said NAM is the largest mineral claim holder in the Winnipeg River Pegmatite Field. All of the claims are held by Lithium Canada Development, a wholly owned subsidiary of NAM
“This maiden drill programme in Manitoba is a significant milestone for the company. We have fulfilled our stated objectives for the lithium division to date by acquiring a robust land package in southeast Manitoba, and recently completing our option / joint venture agreement with Mineral Resources,” Mr Barr said.
“Our agreement equips us with the necessary funding and expertise to strategically explore and develop the greenstone belt that we are operating in.
“The preparation for this programme has been extensive and has included various rounds of surface exploration as well as UAV borne drone geophysics.”
The purpose of the maiden drill programme is to first confirm the historical resource that was identified at the Eagle Pegmatite on the Lithium Two Project in 1948. An initial eight holes are planned to be drilled to the 200m level. The company is permitted to drill additional holes should preliminary results justify doing so.
In advance of the drill programme, an archaeological assessment has been completed by White Spruce Archaeology on the Lithium Two Project that has identified three areas of archaeological potential.
Drilling activity will occur outside of a 25m buffer around the identified areas. All drill trails will stay outside of the identified areas. The recommendations for the Lithium Two Project have been reviewed and agreed by the Archaeological Assessment Services Unit, Historic Resources Branch, Ministry of Sport, Culture and Heritage.
For further information please visit: https://newagemetals.com/