New Age Metals Inc. (TSXV: NAM) (OTCQB: NMTLF) has intersected high-grade lithium mineralisation 11 drill holes at the Lithium Two Project in Manitoba, Canada.
Assay results for its maiden drill programme consisting of 15 diamond drill holes totalling 1,630 m along the Eagle Pegmatite have confirmed historic drilling grades.
Highlights”
• High grade lithium mineralisation intersected in 11 drill holes along the Eagle Pegmatite confirming historic drilling grades.
• Mineralisation encountered assayed up to 2.47% Li2O over 3.0 m (estimated true width of 1.93 m) within 21.8 m (estimated true width of 14.0 m) of 0.83% Li2O.
• Two step-back holes confirm lithium grades extend down dip and the deposit remains open at depth.
• Spodumene bearing pegmatite encountered beneath the FD5 Pegmatite warrants further exploration drilling.
• Tantalum values up to 334 ppm over 1.0 m.
• A comprehensive exploration plan for 2022 has been delivered to Mineral Resources Limited for approval and a final budget for the year is expected to be approved in the next 30 days.
“We are encouraged by the results of our first drilling campaign on the Lithium Two Property,” Chairman and CEO, Harry Barr, said.
“This gives us confidence in the property’s potential to host more significant mineralisation, and that by using modern exploration techniques we can expand on the historic results.
“We have received our permit for an additional 10 drill holes and our team is currently in the process of planning our next steps.
“With the support of our partners, Mineral Resources Limited, we are looking forward to the advancement our projects this coming season.”
The company and its partner Mineral Resources Limited expect to finalise the scope of the 2022 exploration plan shortly.
The Lithium Two Project covers 137 hectares and is located approximately 20 kilometres north of the Tanco Mine that is owned and operated by Sinomine Rare Metals Co. Lithium Two is geologically situated in the Cat Lake portion of the Winnipeg River Pegmatite Field and is road accessible.
This pegmatite field is hosted in the Archean age Bird River Greenstone Belt and into the surrounding granites. To date, three pegmatites have been identified on the Lithium Two Project.
For further information please visit: https://newagemetals.com/
