Growing Platinum Group Metal
Harry Barr, Chairman and CEO of New Age Metals, speaks on the company’s Platinum Group Metal and Lithium Properties.
I guess I’m a veteran in the industry. I started in 1985 and I can proudly say every company I started still runs today. The focus of our company New Age Metals, we have two divisions. We have the largest and developed deposit rich kind in Canada Platinum Group Metals and the other is a lithium division. Lithium is for batteries. Battery storage seems to be a tremendous demand in the future. Platinum group metals are mostly auto catalyst, so the tailpipe of your car and do the last kind of burn of the energy before it gets out into the atmosphere. The car is business is booming and in tremendous demand for the auto catalyst. Our River Valley project in Sudbury, the Platinum Group Metal project has over 30 million spent on it, over 600 holes, five 43101s. We have approximately 2.5 million ounce of resource at this point. We’ve made a new discovery in the northern portion in 2015 and 2016 which is adding to the higher grade component. So in 2017, we plan to continue developing our platinum group metal property. We have approximately 600,000 ounces in the northern portion of property and we would like to continue drilling and get that up to about a million and then do a PEA in the next 12 to 18 months. We have other work we want to do in that property too. And then on the lithium side with the five properties, we want to get most of them to the drill stage and drill at least two of them this year in 2017.
New Age Metals Inc. is a Mineral Exploration Company, focused on the Discovery, Exploration and Development of Canada’s Largest Primary Platinum Group Metals (PGM) deposit, the River Valley PGM Project, located in the Sudbury region of Northern Ontario. The Company also has a Lithium Division (Li), with 5 Li Projects. Our philosophy is to be a Project Generator, Explorer and Project Operator, with the objective of Optioning/Joint Venturing our Projects, with Major and Junior Mining Companies, through to Production.
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