New Age Metals (TSXV: NAM; OTB: NMTLF) continues to work on the prefeasibility study for its River Valley Palladium project about 100 km by road east of Sudbury, Ont.
Most recently the company drilled four holes totalling about 800 metres to gather samples for mineral processing and metallurgical testing by SGS Canada. Assays will be reported when available.
New Age has begun a program of 1,410 metres of geomechanical drilling for rock property and structural geology studies by Knight Piesold. Four historical holes will also be examined by televiewer for additional information.
A preliminary economic assessment was conducted in 2019 for River Valley. It outlined a 20,000-t/d open pit mine and processing plant with an average output of 119,000 oz. of palladium-equivalent over a mine life of 14 years.
The measured and indicated resource in the PEA was 99.3 million tonnes grading 0.52 g/t palladium, 0.2 g/t platinum, 0.009 g/t rhenium, 0.03 g/t gold, plus base metals for a palladium-equivalent of 0.9 g/t. The inferred resource was 52.3 million tonnes grading 0.31 g/t palladium, 0.15 g/t platinum, 0.012 g/t rhenium, 0.04 g/t gold, plus base metals for a palladium-equivalent of 0.63 g/t. The PEA was conducted at metals prices much lower than today, and will change with the PFS.
Exploration drilling also continues at River Valley in support of the PFS.
More information is posted at www.NewAgeMetals.com.
October 31, 2024
October 31, 2024
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