New Age Metals to launch exploration program in Newfoundland
This clears the way for NAM to initiate its 2025 exploration program, which will include mineral prospecting, geological mapping, geochemical sampling, channel sampling, and backpack drilling
NAM has staked an additional 1.75 square km across three licenses, increasing its total landholding in Newfoundland to 193 square km across 10 properties
New Age Metals stock (TSXV:NAM) opened trading at $0.12
New Age Metals (TSXV:NAM) has received a Letter of Acceptance from the Mineral Lands Division of the Government of Newfoundland and Labrador, authorizing grassroots-level exploration on its recently staked gold-antimony (Au-Sb) properties in central and south-central Newfoundland.
This regulatory milestone clears the way for NAM to initiate its 2025 exploration program, which will include mineral prospecting, geological mapping, geochemical sampling, channel sampling, and backpack drilling. (Overview map showing the location of NAM's gold-antimony mineral exploration properties in Newfoundland. Source: New Age Metals Inc.)
Key highlights Regulatory green light : The Letter of Acceptance enables NAM to commence Phase 1 of its exploration program in mid-May, targeting newly acquired Au-Sb properties.
: The Letter of Acceptance enables NAM to commence Phase 1 of its exploration program in mid-May, targeting newly acquired Au-Sb properties. Two-phase exploration strategy : The 2025 program will begin with first-pass prospecting and field mapping of known mineralized zones and prospective trends. Phase 2 will follow with detailed geochemical surveys and rock sampling based on Phase 1 results.
: The 2025 program will begin with first-pass prospecting and field mapping of known mineralized zones and prospective trends. Phase 2 will follow with detailed geochemical surveys and rock sampling based on Phase 1 results. Land package expansion : NAM has staked an additional 1.75 square km across three licenses, increasing its total landholding in Newfoundland to 193 square km across 10 properties.
: NAM has staked an additional across three licenses, increasing its total landholding in Newfoundland to across 10 properties. Positioning : The properties lie along the same geological trend as the Beaver Brook Antimony Mine —Canada's only past-producing primary antimony mine—and near New Found Gold Corp.'s Queensway South Gold Project .
: The properties lie along the same geological trend as the —Canada's only past-producing primary antimony mine—and near . Favorable market conditions: With gold prices hovering around US$3,500/oz and antimony reaching US$51,500/tonne, NAM is in a stable position to capitalize on strong market demand and geopolitical interest in critical minerals.
Leadership commentary
'Receiving the Letter of Acceptance is an important milestone for our Newfoundland Au-Sb Division. We would like to thank the Government of Newfoundland and Labrador for their continued support and for implementing a clear and efficient permitting process,' Harry Barr, Chairman & CEO of New Age Metals, commented in a media statement. 'NAM is pleased to continue working with Axiom Exploration Group Ltd., our longstanding technical partner, who has identified numerous high-priority target areas and will manage and execute the 2025 exploration program on our behalf. We are looking forward to getting boots on the ground.'
NAM's exploration efforts align with growing North American interest in securing domestic sources of critical minerals like antimony, which is essential for defense, energy storage, and electronics.
New Age Metals Inc. is a junior mineral exploration and development company focused on the discovery, exploration and development of green metal projects in North America.
New Age Metals (TSXV:NAM) stock opened trading 4.17 per cent higher at $0.12. Though it is up 66.67 per cent since the year began, its stock has lost 30.56 per cent since this time last year.
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