New Age Metals (CVENAM, OTCMKTSPAWEF) – Successful Extension Drilling Update

Palisade Research September 20, 2017
Category: Research

New Age Metals announced the first batch of drill hole results of the 2017 drilling campaign, focusing on the Dana North (T3) and Pine Zone.

We already consider the campaign a success, with drilling confirming continued PGM mineralization in the footwall to the main River Valley contact.

The PGM mineralization has been extended for ~140 meters east of the previous known mineralization into the footwall of the identified resources. PGM mineralization in the Pine Zone has now been shown to extend to at least 300 meters below surface.

If NAM had a larger drill program, we imagine newer targets could extend along the 16 kilometers of strike, which is still open at depth.

Assay results have been received for six of the eleven presently drilled holes, and grades have actually increased, identifying breccia host zones in all holes, including 2.45 g/t 3E over 28 meters, including 7.12 g/t over 3 meters and 4.06 g/t over 6 meters with a second zone of 3.30 g/t over 4 meters.

This present exploration activity of drilling and geophysics will be used for the upcoming Preliminary Economic Assessment (PEA).

We very much enjoy the PGM narrative, recently writing about platinum just a couple of weeks ago.

New Age Metals remains our sole holding in PGMs, and through our research and network we have determined it is on the radar of many majors looking to bolster their portfolios.

With another batch of drill results on the horizon, NAM’s River Valley Deposit, home to an M&I resource of 3.9 million ounces PdEq and an additional inferred resource of 1.2 million ounces PdEq, offers extreme value and optionality. The safe jurisdiction of Ontario only offers more safety in the volatile world of mining.

Palisade Global Investments Limited holds shares of New Age Metals. We receive either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate. The information contained in such write-ups is not intended as individual investment advice and is not designed to meet your personal financial situation. Information contained in this report is obtained from sources we believe to be reliable, but its accuracy cannot be guaranteed. The opinions expressed in this report are those of Palisade Global Investments and are subject to change without notice. The information in this report may become outdated and there is no obligation to update any such information. Do your own due diligence.

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