New Age’s Lithium Two returns up to 3.83% Li2O
2018-10-30 09:28 ET – News Release
See News Release (C-NAM) New Age Metals Inc
Mr. Harry Barr of New Age Metals reports
NEW AGE METALS AND AZINCOURT ENERGY LITHIUM JOINT VENTURE EXTENDS THE EAGLE PEGMATITE TO THE WEST WITH PHASE TWO SAMPLING RETURNING VALUES UP TO 3.8% LI2O AT THE EAGLE PEGMATITE, CAT LAKE, SE MANITOBA
New Age Metals Inc. has provided an update on the present exploration program with regard to the company’s Manitoba lithium projects. The company’s lithium division, Lithium Canada Development, has an aggressive exploration plan for 2018. The joint venture with New Age Metals and Azincourt Energy Corp. has eight lithium projects in the Winnipeg River pegmatite field located in southeast Manitoba.
Highlights:
- Mapping has extended the Eagle pegmatite approximately 300 metres to the west of the company claim boundary.
- A second phase of surface sampling at the Eagle pegmatite has returned assays up to 3.8 per cent lithium oxide (Li2O).
- New Age Metals, along with option/joint venture partner Azincourt Energy, has 100-per-cent ownership of eight pegmatite-hosted lithium projects in the Winnipeg River pegmatite field, located in southeast Manitoba.
- Exploration in southeast Manitoba is focused on lithium-bearing pegmatites.
- The eight projects are strategically situated within the Winnipeg River pegmatite field, which hosts the world-class Tanco pegmatite that has been mined for tantalum, cesium and spodumene (one of the primary lithium minerals) in varying capacities, since 1969.
- Present exploration is being conducted on the Lithium One project.
- Drill permits have been applied for on the Lithium Two and Lithium One projects and the company is awaiting approval from the province.
Lithium Two project
Two phases of surface exploration were carried out on the Lithium Two project during the summer. Grab samples, channel samples and fractionation samples were collected. Fractionation samples will give an indication of the degree of fractionation of sampled pegmatites. Fractionated pegmatites are more conducive to containing lithium and rare metal minerals.
The Lithium Two project has several historically known spodumene-bearing pegmatites. The Eagle pegmatite was drilled in 1947 with a historical (non-National Instrument 43-101 compliant) tonnage estimate of 544,460 tonnes with a grade of 1.4 per cent Li2O to the 61-metre level. The deposit remains open to depth. The FD5 pegmatite, located east of the Eagle pegmatite, has never been drilled. Historical assessment reports revealed a spodumene-bearing pegmatite drilled in the late 1940s, located approximately 500 metres southeast of the Eagle pegmatite but not exposed on surface. No grades were provided in the report. This pegmatite as well as the Eagle and FD5 pegmatites will be tested
A phase 1 surface exploration program was carried out earlier in the summer (see news release dated Aug. 16, 2018). Follow-up sampling was carried out during the phase 2 surface exploration program on the FD5 pegmatite and the Eagle pegmatite (see attached tables). The lithium grades at the FD5 pegmatite did not change as samples were collected for fractionation, but there was an increase in lithium assays at the Eagle pegmatite with assays up to 3.8 per cent Li2O. The field program focused on more detailed structural geological mapping and mapping of the westward extent of the Eagle pegmatite.
The company entered into an agreement (news release dated July 11, 2018) with Grid Metals (formerly Mustang Minerals) for the rights to explore for lithium and rare metals on the claim directly adjacent to the west of the Lithium Two project. During the phase 2 surface exploration, the westward extension was mapped for approximately 300 metres into the westward claim. Detailed mapping has extended the length of the Eagle pegmatite to approximately 900 metres that has been examined in the field from surface outcrop exposures. The pegmatite remains open along strike where it goes under overburden. Samples on the west side of the Eagle pegmatite returned only weak lithium mineralization on surface (see attached table) but contained a larger proportion of lepidolite (a lithium mica) and therefore elevated rubidium values.
Even though lithium is the main focus of the exploration it should be noted that the pegmatites also show elevated tantalum values that may be of an economic interest. Pegmatites elsewhere on the project did not reveal significant lithium mineralization; however, several were elevated in tantalum. Fractionation assays are presently being reviewed by the company’s geological consultants. Results will be reported at a later date when a review of the feldspar and mica fractionation results for the summer pegmatite exploration is undertaken.
FD5 PEGMATITE -- 2018 ASSAY RESULTS
Sample Pegmatite Exploration phase Li2O Cs Rb Ta
(%) (ppm) (ppm) (ppm)
172753 FD5 Phase 1 7.62 48.4 75.9 21
172755 FD5 Phase 1 0.94 1,180 1,180 340
172756 FD5 Phase 1 3.25 217 607 75
172763 FD5 Phase 1 3.10 158 470 77.7
172764 FD5 Phase 1 2.97 392 997 213
172765 FD5 Phase 1 0.66 425 1,740 80.4
172766 FD5 Phase 1 0.25 618 781 116
172767 FD5 Phase 1 2.00 162 1,100 73.1
172768 FD5 Phase 1 0.29 589 2,360 224
In an effort to check the purity of the spodumene, a sample of spodumene blades was sampled from the FD5 pegmatite. This sample yielded an assay of 7.62 per cent Li2O. A review of spodumene mineral data indicates that spodumene can have a lithium oxide content from 3.73 per cent to 8.03 per cent Li2O. This would tend to indicate that the spodumene present in the pegmatites dikes on the project is of a high purity.
In geological terms, the pegmatites encountered on the Lithium Two project are LCT-type (lithium/cesium/tantalum) pegmatites and are in the albite-spodumene subgroup. Spodumene is expressed in the pegmatites as small green blades up to three centimetres in length. The Eagle pegmatite is a west-northwest-to-west-striking, vertically dipping, lenticular pegmatite dike intruded into mafic volcanics. The widths of the pegmatite have been measured to be between two metres and 10 metres. The Eagle pegmatite system appears to be a swarm of closely spaced pegmatite bodies.
EAGLE PEGMATITE -- 2018 ASSAY RESULTS
Sample Pegmatite Exploration phase Li2O Cs Rb Ta
(%) (ppm) (ppm) (ppm)
172772 Eagle Phase 1 0.84 52.1 1,640 134
172773 Eagle Phase 1 2.88 32 551 40.9
172774 Eagle Phase 1 1.86 43.1 1,160 75.9
172775 Eagle Phase 1 0.87 26.2 658 57.4
172791 Eagle Phase 1 0.52 54 1,020 39.3
172157 Eagle Phase 2 1.57 81.5 2,600 230
172159 Eagle Phase 2 3.64 48.7 1,320 101
172161 Eagle Phase 2 0.12 53.9 1,220 173
172162 Eagle Phase 2 0.12 100 3,480 44
172163 Eagle Phase 2 3.83 28.8 789 52
172164 Eagle Phase 2 1.13 77.6 1,650 89.2
172165 Eagle Phase 2 1.32 89 1,680 104
172166 Eagle Phase 2 0.77 42.3 1,180 125
172173 Eagle Phase 2 0.85 96.8 2,400 66.5
172275 Eagle Phase 2 1.03 36.7 1,060 66
172276 Eagle Phase 2 2.65 47.3 1,320 55.6
172277 Eagle Phase 2 0.89 69.3 1,290 52.4
172278 Eagle Phase 2 0.84 66.8 2,310 43.9
172158 Eagle Phase 2 0.26 46.5 1,190 95.9
WEST EAGLE PEGMATITE -- 2018 ASSAY RESULTS
Sample Pegmatite Exploration phase Li2O Cs Rb Ta
(%) (ppm) (ppm) (ppm)
172167 West Eagle Phase 2 0.11 28.2 447 126
172168 West Eagle Phase 2 0.05 154 706 130
172171 West Eagle Phase 2 0.23 212 6,300 33.3
172172 West Eagle Phase 2 0.14 179 4,930 248
Quality assurance/quality control protocol
All samples were analyzed at the Activation Laboratories facility in Ancaster, Ont. Samples were prepared using the lab’s Code RX1 procedure. Samples are crushed up to 95 per cent passing through 10 mesh, riffle split and then pulverized with mild steel to 95 per cent passing 105 mesh. Analyses were completed, using the lab’s Ultratrace 7 package, a sodium peroxide fusion which allows for total metal recovery and is effective for analysis of sulphides and refractory minerals. Assay analyses are carried out using ICPOES and ICPMS instrumentation. New Age Metals implemented a quality assurance/quality control field program with insertion of blanks at regular intervals. Activation Laboratories has its own internal quality assurance/quality control procedures that it carries out for all sample batches.
Stock option grant
In addition, the company has granted 300,000 incentive stock options to consultants of the company at an exercise price of 12 cents per share for a period of five years from the date of grant in accordance with the company’s stock option plan. The stock options granted will be subject to vesting restrictions, acceptance by the TSX Venture Exchange and will be subject to regulatory hold periods in accordance with applicable Canadian securities laws.
Joint venture agreement
In January, 2018, New Age Metals announced a signed final agreement with Azincourt Energy for the Manitoba lithium projects (news release dated Jan. 15, 2018). This pegmatite field hosts the world-class Tanco pegmatite, which has been mined for tantalum, cesium and spodumene (one of the primary lithium ore minerals) in varying capacities since 1969. New Age Metals’ lithium projects are strategically situated in this prolific pegmatite field. Presently, New Age Metals, under its subsidiary Lithium Canada Developments, is one of the largest mineral claim holders in the Winnipeg River pegmatite field for lithium. Azincourt Energy, as the company’s option/joint venture partner, is financed for and has committed to a minimum of $600,000 to be expended on exploration in Manitoba for 2018.
Qualified person
The contents contained herein that relate to exploration results or mineral resources is based on information compiled, reviewed or prepared by Carey Galeschuk, a consulting geoscientist for New Age Metals. Mr. Galeschuk is the qualified person as defined by NI 43-101 and has reviewed and approved the technical content of this news release.
We seek Safe Harbor.
http://azincourtenergy.com/category/news-releases/
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