New Age Metals Inc. (NAM) (TSX.V: NAM; OTCQB: NMTLF; FSE: P7J) (“NAM” or the “Company”) is pleased to announce the start of an initial PLATSOL™ leaching testwork program on its 100% owned River Valley Palladium Project, near Sudbury, Ontario. The PLATSOL™ testwork will be carried out by SGS Canada Inc. (“SGS”) on concentrates of drill core samples from the Dana and Lismer mineralized zones (Figure 1), as recommended in the New Preliminary Economic Assessment (“PEA”) of the Project (see Company press release dated August 11, 2023). This proof-of-concept PLATSOL™ study is part of a post-PEA metallurgical optimization program designed to examine new and alternative technologies for significantly improving recovery of platinum metals (“PGM”), gold and copper at the River Valley Project.
PLATSOL™ is a high-temperature and pressure acid leaching hydrometallurgical process developed at SGS Canada Inc. for recovery of PGM, gold and base metals from low-grade, bulk-tonnage polymetallic deposits. Previously, PLATSOL™ testwork studies of Duluth (Minnesota), Marathon (northwestern Ontario), and Pedra Blanca (Brazil) Deposits materials have resulted in Pd, Pt, Au and Cu recoveries of >90%. Conventional flotation testwork at River Valley produces a bulk Cu concentrate with significantly elevated PGM values that, however, is undervalued by base metal smelters. Based on the >90% recoveries of PGM and Cu elsewhere, PLATSOL™ presents a potentially unique opportunity to produce a much higher value product at River Valley for metal refining off-site.
This proof-of-concept Platsol study of River Valley will commence imminently at SGS Lakefield and be completed in Q4 2023. It will be managed for NAM by D.E.N.M. Engineering Ltd. of Burlington, Ontario. Results will be announced when available and could trigger a full follow-up PLATSOL™ study in 2024.
Research Report
Fundamental Research Corporation (FRC), a Vancouver based research group, has published an update report on New Age Metals. FRC provides a fee-based coverage. Interested parties are able to access the latest report and previous reports by visiting the following link; https://www.researchfrc.com/new-age-metals-inc-tsxv-nam-otcqb-nmtlf-fse-p7j-advancing-exploration-funded-by-a-lithium-major/
