New Age Metals Inc. (TSXV: NAM; OTCQB: NMTLF) has completed its maiden 1,630 metre drill programme at its Lithium Two Project in Manitoba, Canada.
To date, 678 drill core samples have been submitted to the Saskatchewan Resource Council Geoanalytical Laboratories (SRC) for assay.
Chairman and CEO, Harry Barr, said this drill programme was the first work programme funded by the company’s partner, Mineral Resources Limited (MRL).
“We would like to thank our exploration team from Axiom Exploration Group Ltd for the successful completion of the maiden drill programme at Lithium Two,” Mr Barr said.
“We are eager to share initial results from this highly prospective project. While we patiently await assay results from SRC, management has asked our exploration team to develop a follow up exploration programme that would include a second phase of drilling at the Project, maiden drilling at Lithium One and a 2022 field programme to follow up on prospective targets from the 2021 geophysical surveys completed on five of the company’s projects.”
The maiden drill programme at the Lithium Two Project consisted of 15 drill holes totalling 1,630 metres. The purpose of the maiden drill program was to confirm historical drill results from the 1940’s drill campaign at the Eagle Pegmatite on the Lithium Two Property. Additionally, the programme was designed to test nearby targets generated from field reconnaissance programs and UAV-borne drone magnetic geophysical surveys completed between 2016 and 2021.
After the completion of the first phase of drilling, the company has made drill permit applications to the Manitoba government for an additional 1,500 metres of drilling over 10 holes at Lithium Two. Future drilling at Lithium Two will test the down dip extension of the near-surface lithium bearing pegmatites in this first phase of drilling and additionally, evaluate other areas of interest at Lithium Two.
The drill programme focused on the Eagle Pegmatite which was the source of the historical non-NI 43-101 compliant resource estimate of 544,000 tonnes at 1.4% Li20 indicated to a depth of 61 metres.
The Eagle pegmatite is exposed at surface along a 533-metre strike length as a series of lenticular spodumene-bearing dykes which occur in (Precambrian) granite and meta-volcanic rock units.
The 10 largest of these pegmatite bodies are a series of en echelon lenses that range up to 75 metres in length and 9 metres in width as exposed on surface. Historic drilling results suggest that the dykes dip from 80° to the north to near vertical.
Ten drill holes were completed along strike of the Eagle Pegmatite intending to intersect the pegmatite dykes at 40 to 50 metres vertical depth below surface. Two holes were drilled to test the extension of prospective zones between 80 to 100 metres vertical depth. Additionally, three drill holes tested nearby pegmatites, including the FD 5 Pegmatite and the Unnamed Pegmatite, which exhibit lenses of mineralization at surface. Assay results are expected to be released late December or early January.
In advance of the drilling programme, an archaeological assessment was completed by White Spruce Archaeology on the Lithium Two Project that has identified three areas of potential archaeological significance.
As such, drilling activity will occur outside of a 25-metre buffer around the identified areas and 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.
The company is now planning with both its geological consultants at Axiom and MRL for the next steps for exploration on its portfolio of projects. To that end, the Lithium One Project is likely the next drill target for which the company already holds a drill permit on.
Additionally, a work programme is being designed for 2022 to mobilize a field crew to specified areas of geophysical interest that were identified from the 2021 geophysical surveys completed on site.
The Lithium Two Project covers 137 hectares and is located approximately 20 kilometres north of the Tanco Mine which is owned and operated by Sinomine Rare Metals Co.
For further information please visit: https://newagemetals.com/
