New Age Metals announced that it has started the next phase of drilling at its Ontario-based River Valley platinum-group metals project.
New Age Metals (TSXV:NAM,OTCQB:NMTLF) announced that it has started the next phase of drilling at its Ontario-based River Valley platinum-group metals (PGMs) project.
As quoted in the press release:
The purpose of the drill program is to test three Pine Zone target types: 1) induced polarization (IP) chargeability highs from the 2017 geophysical survey for extensions of the Pine Zone or new discoveries in the footwall to Dana North; 2) potential extensions of higher-grade trends external to the current mineral resources in the Pine Zone; and 3) whether and how the Pine Zone may be connected to the Dana North Zone at depth. The connection of the two zones is currently modelled, based on the available drilling, as a major SSE-plunging fold. The drilling will test for evidence of such folding, including the potential presence of thickened and higher-grade PGM sulphide mineralization within the fold nose. See Figure 1 below for the planned drill hole locations in the upcoming phase one program.
Harry Barr, chairman and CEO of New Age Metals, commented:
The company plans to drill about 1,600m of core in five holes to test high-priority targets within and adjacent to the Pine Zone and Dana North Zone of the River Valley deposit. This drill program is the first phase of our 2020 exploration and development program, and will run through April. The Company continues to monitor the COVID-19 pandemic and is evaluating the potential risks to our staff and contractors. In light of the fluid nature of events the Company would like to note that there is no certainty that the current exploration activities will be completed without interruption.