Frequently Asked Questions (FAQ)
PGM’s are lesser known precious metals?
Gold receives most of the attention, as many more tons of gold are produced annually than Platinum Group Metals. It is true that The Platinum Group Metals are both Precious and Industrial. As a rare precious metal, there are very few Platinum Group Metals producing regions worldwide and even fewer known economically viable ore bodies.
Growth in mine supply is constrained, largely owing to:
- Political, infrastructure and cost issues in South Africa;
- Relatively constant palladium production in Russia; and
- The very small number of new projects on the horizon for the near future.
What are PGM’s most often used for?
The most commonly used Platinum Group Metals are by far Palladium and Platinum, respectively. Palladium and Platinum (the primary PGM’s found at our River Valley Project) are both Precious Metals but are primarily used for industrial applications, notably Catalytic Converters for the auto industry. Over 80% of Palladium production is used for this purpose. The metals Platinum and Palladium are used as a thin coating on ceramic filters inside of the Catalytic Converters, and convert as much as 90% of the harmful gases in automobile exhaust into less noxious substances. Palladium is used for vehicles with gasoline engines, and Platinum is used for vehicles with Diesel engines.
Why is Palladium Valuable?
We all know that Platinum is often used for Jewelry, however Palladium’s value lies within its ability to catalyze and conduct, but it also has a high level of resistance to corrosion and is very durable.
Where are Platinum Group Metals mainly produced?
The majority (over 70%) of PGM’s are produced in either Russia or Africa. There are only two primary producers of PGM’s in North America and not many exploration and/or development projects in the pipeline. See our latest Chairman’s Message on the River Valley Project HERE.
Why is the exploration of PGM’s important?
Demand for Palladium continues to grow, driven primarily by the increase of global automotive sales (most notably in emerging markets) and also the tightening of emissions standards worldwide. Given current demand are near all-time highs and the metal has been a top-performer in the past 10 years. See HERE for a real-time graph on the price of Palladium.
Lithium demand ‘drivers’, what are they?
Lithium has been commonly used for years in household appliances and personal electronic devices that use Lithium-Ion batteries as a power source. The traction that electric vehicles (EV’s) are gaining around the globe has recently acted as a new demand driver, and as public sentiment about reducing carbon emissions grows so will the demand of Lithium.
Where is Lithium commonly found?
Lithium is found either as Lithium chloride salts in brine pools in America, Chile and Australia or as lithium minerals in pegmatite hosted hard-rock. Typically, hard-rock lithium is of higher grade compared to brine sources. Canadians are experts in hard rock mining and that is important for New Age Metals (and its wholly-owned subsidiary Lithium Canada Development). We own 8 pegmatite hosted projects in the Winnipeg River Pegmatite Field in South East Manitoba surrounding the Tanco Mine which has produced lithium bearing minerals (Spodumene, Tantalum and Cesium) since the 1960’s.
What differentiates New Age Metals from the other Green Metals Exploration and Development Companies?
The main differentiating factor that separates New Age from almost all the other Mineral Exploration Companies is that we have two divisions;
- A PGM Division that consists of North Americas largest undeveloped primary Platinum Group Metals deposit, our River Valley project that is located near a world-class metallurgical complex in Sudbury, ON. Also in this division, NAM 100% owns a PGM and Base Metal Project in Alaska (See Genesis webpage).
- A Lithium Division (Lithium Canada Development), based in Manitoba. NAM and our Option/Joint Venture Partner (Azincourt Energy) own 8 projects, 3 of which are drill ready.
The Vision that New Age Metals’ leadership has is to supply the automotive industry today and in the future with our Green Metal Projects. This Vision is based on industry analysts research that suggests automobiles with combustion engines (which require Palladium) will continue to dominate market share in the foreseeable future. The rise of reliable, luxurious electric vehicles that are slowly gaining more market share will contribute to the relevance of NAM’s Lithium Division.
The River Valley PGM project is large, can you speak to the work done to date?
Since 1999, approximately 45 million dollars has been invested in this project, with over 700 drill holes and multiple geophysical, mineralogical and metallurgical studies undertaken. NAM owns 100% of North America’s largest undeveloped primary Platinum Group Metals resource.
What do you plan to achieve with the River Valley Project from now to the end of Q2-19?
Currently, the projects first economic study is being conducted by P&E Mining Consultants in conjunction with DRA Americas, slated for completion on or by the end of Q2, 2019. Additionally, there is an ongoing mineralogical study being conducted by XPS and Steinart, which is looking at the possibility of preconcentrating River Valley material.
Currently a Phase One 5000 metre drill program is being designed, NAM’s management is planning to continue to drill select areas of the northern portion of the project before the end of 2019. NAM’s ultimate goal and corporate mandate is to seek out an Option/Joint Venture partner to take this project through pre-feasibility, feasibility and then production.
What are the attributes of your Lithium division based in Manitoba and your go-forward plan for it?
Our eight 100% owned Lithium Projects surround the historic Tanco Mine in Manitoba. They are Pegmatite hosted Projects where the fist objective is to find a Lithium Pegmatite, the second is to find Spodumene Minerals in the Pegmatite, and third and most important is to find sufficient Lithium mineralization to eventually have an economically viable project. We have applied for drill permits on the Lithium One and Lithium Two Projects and expect to drill in 2019. Currently, the projects are under an Option/Joint Venture Agreement with Azincourt Energy who is funding the exploration efforts.
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