New Age Metals to launch exploration program in Newfoundland
New Age Metals (TSXV:NAM) has been authorized to execute grassroots-level exploration on its recently staked gold-antimony (Au-Sb) properties in central and south-central 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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Batches are shipped to Activation Laboratories Ltd. (Actlabs), in Thunder Bay, Ontario for sample preparation and analysis. Samples are dried, crushed to 2mm and a 1 kg split is pulverized to -200 mesh. Gold analysis is completed by fire-assay with an atomic absorption finish on 50 grams of prepared pulp. Samples returning values equal or greater to 10.00 g/t are reanalysed by fire assay with a gravimetric finish. Total gold analysis (Screen Metallic Sieve) is conducted on highly mineralized samples or the presence of visible gold. Certified gold reference material samples are inserted every 20 samples and blank samples at intervals of one in every 50 samples, with additional blanks inserted after samples hosting visible gold. Repeat third-party gold analyses for 5% of all submitted sample pulps are analyzed at ALS-Chemex Laboratory, North Vancouver, Canada. 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The Company also owns the Apex project near Snow Lake, Manitoba and the Denton-Keefer project near Timmins, Ontario, and intends to focus on organic growth and accretive acquisition opportunities in North America. 1911 Gold's True North complex and exploration land package are located within the traditional territory of the Hollow Water First Nation, signatory to Treaty No. 5 (1875-76). 1911 Gold looks forward to maintaining open, co-operative and respectful communication with the Hollow Water First Nation, and all local stakeholders, in order to build mutually beneficial working relationships. ON BEHALF OF THE BOARD OF DIRECTORS Shaun Heinrichs President and CEO CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION This news release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. All forward-looking statements reflect the Company's beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company's forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements. Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, statements with respect to the terms of the Offering, the use of proceeds of the Offering, the timing and ability of the Company to close the Offering, the timing and ability of the Company to receive necessary regulatory approvals, the tax treatment of the securities issued under the Offering, the timing for the Qualifying Expenditures to be renounced in favour of the subscribers, and the plans, operations and prospects of the Company, are forward-looking statements. Although 1911 Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. All forward-looking statements contained in this news release are given as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.
