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On September 14th New Age Metals conducted a tour of the exploration and drilling site in River Valley. Arrayed in front of the core shack in River Valley, along with some of the core samples on display, are from L-R: Michael Neumann (Director), Paul Poggione (Corporate Development), Harry Barr (Chairman/CEO), Trevor Richardson (President), Susan Mitchell (Advisory Brd), Todd McCracken (Manager-Mining at WSP Canada), Dr. Alan King (Consulting Geophysicist/Geoscience North), Richard Zemorov, Cory Galeschuk (Geologist), John Londry (Director).
by Isabel Mosseler
The drilling program for platinum group metals (PGM) in River Valley wrapped up last Friday, September 29th, but Paul Poggione, Corporate Development for New Age Metals (previously known as Pacific North West Capital), says that exploration has not stopped. The company is waiting for the lab results, and New Age Metals (NAM) remains “very optimistic” about the future of the region.
Up to date, about $31 million has been spent on exploration in the area, and Poggione says things are looking good, but patience is always required in the mining sector. Indeed, drilling has been going on for nearly 20 years and it slowed down in recent years as ore prices dropped. However, with results showing more and more promise and the market picking up, operations have ramped up and talk of an actual mine is coming up again.
“In 2012 … the resource estimates indicated 2.4 million ounces of PGM in the ground, based on drilling done from 1999 to 2012. That’s not to say that’s all there is! Since then we’ve had a couple of developments. In 2015, we discovered a new high grade mineralized zone, called the Pine Zone, and that zone we’ve been drilling since 2015 and that’s what we just finished today (Friday),” Poggione says. “The good news is we’re finding continued mineralization. …We did some geophysical surveys in spring on the land – where best to drill – what we were able to determine is further mineralization 140 metres out… and found it to a depth of 300 metres. That’s important because … the outcropping is on the surface of the ground.”
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