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New Age Metals releases exploration results for River Valley Palladium Project near Sudbury

Sep 24, 2020

New Age Metals has announced results from its Phase 2 exploration drill program and surface prospecting activities at its 100% owned River Valley Palladium Project near Sudbury. 

Significant assays were returned for seven of the 14 outcrop samples. The highest assay result is a remarkable 8.29 g/t Pd+Pt+Au and 0.24% Cu. Evidently, the confirmed surface mineralization means that either the footprint of the Dana South Zone is larger than the modelled mineral resources or it represents discovery of a potential new zone located approximately 50 m to 100 m to the east of Dana South. The surface mineralized area is planned to be stripped and drilled when conditions allow in 2021.

Assay results for holes drilled to test Pine Zone and T3 targets and high-grade mineralized surface samples from the footwall to the east of the Dana South Zone. Phase Three plans are discussed below in the release and its final plan will be announced before the end of September.

Drill Results

Holes T3-20-03, T3-20-04 and PZ-20-07 were drilled in Q3 2020 for a total of 792 metres (Figure 1; Table 1). Hole T3-20-03 was drilled as an infill hole within the Pine Zone-T3 Target. The hole intersected three mineralized intervals: 1) 5 metres grading 0.21 g/t Pd+Pt+Au and 0.05% Cu or 0.30 g/t PdEq from 236 metres down hole; 2) 9 metres grading 0.27 g/t Pd+Pt+Au and 0.02% Cu or 0.32 g/t PdEq from 247 metres downhole; and 3) 6 metres grading 0.30 g/t Pd+Pt+Au and 0.02% Cu or 0.37 g/t PdEq from 259 metres downhole. The results confirm presence of the Pine Zone mineralization.

Hole T3-20-04 was drilled to expand the boundaries of the Pine Zone-T3 Target eastwards and southwards.  The hole intersected the favourable Breccia Unit, but failed to intersect significant intervals of mineralization.  Best assay result is 1 metre grading 0.64 g/t Pd+Pt+Au and 0.02% Cu from 307 metres downhole.

PZ-20-07 was drilled to test an IP chargeability feature 250 m east along strike from the Pine Zone.  The hole was abandoned at 166 metres depth, due to the presence of lengthy intersections of heavy pyrite coatings on fractures in core of the Archean basement. No assays were generated, but the IP chargeability feature is explained.

Image removed.
Figure 1. Location of 2020 Phases 1 and 2 drill holes (labelled) and previously drill holes plotted on 3-D wireframe model of the Dana North Zone (exposed) and Pine Zone (covered), River Valley Palladium Project near Sudbury, Ontario.

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