http://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Mon, 16 Jul 2018 14:39:26 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - New Age Exploration secures $227,500 investment from Kairos Minerals ]]> http://www.proactiveinvestors.com.au/companies/news/200092/new-age-exploration-secures-227500-investment-from-kairos-minerals-200092.html New Age Exploration Ltd (ASX:NAE) has secured an investment of $227,500 from Kairos Minerals Ltd (ASX:KAI) via the issue of 35 million shares at 0.65 cents per share.

Kairos is now a substantial holder in New Age, having 6.21% voting power.

READ: New Age Exploration raises capital to advance drilling at Redmoor Tin-Tungsten Project

New Age recently completed tranche 1 of its $1.6 million placement, raising $728,000 via the issue of shares at 0.65 cents per share.

The new funds will enable New Age to fund its share of the recently commenced 2018 Redmoor drilling program and to maintain its 50% shareholding in Cornwall Resources Limited.

READ: New Age Exploration to recommence drilling to expand high-grade tin-tungsten resource

New Age re-commenced drilling on site at the Redmoor Tin-Tungsten Project in Cornwall, UK on 22 June 2018.

The phase I drilling program is aimed at upgrading the Redmoor high-grade inferred resource of 4.5 million tonnes at 0.37% tungsten, 0.25% tin and 0.57% copper for a 1.0% tin equivalent grade.

Drilling will be targeted below the current resource where grades have shown a tendency to increase with depth.

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Wed, 04 Jul 2018 16:11:00 +1000 http://www.proactiveinvestors.com.au/companies/news/200092/new-age-exploration-secures-227500-investment-from-kairos-minerals-200092.html
<![CDATA[Media files - New Age Exploration drilling to demonstrate 'Redmoor is a truly world-class deposit' ]]> http://www.proactiveinvestors.com.au/companies/stocktube/9741/new-age-exploration-drilling-to-demonstrate-redmoor-is-a-truly-world-class-deposit--9741.html Fri, 29 Jun 2018 13:41:00 +1000 http://www.proactiveinvestors.com.au/companies/stocktube/9741/new-age-exploration-drilling-to-demonstrate-redmoor-is-a-truly-world-class-deposit--9741.html <![CDATA[News - New Age Exploration raises capital to advance drilling at Redmoor Tin-Tungsten Project ]]> http://www.proactiveinvestors.com.au/companies/news/199538/new-age-exploration-raises-capital-to-advance-drilling-at-redmoor-tin-tungsten-project-199538.html New Age Exploration Ltd (ASX:NAE) has completed tranche 1 of its $1.6 million placement, raising $728,000 via the issue of shares at 0.65 cents per share.

Firm commitments have already been received for tranche 2 of the placement to raise a further $872,000 via the issue of shares at the same price.

The new funds will enable New Age to fund its share of the recently commenced 2018 Redmoor drilling program and to maintain its 50% shareholding in Cornwall Resources Limited.

READ: New Age Exploration to recommence drilling to expand high-grade tin-tungsten resource

New Age re-commenced drilling on site at the Redmoor Tin-Tungsten Project in Cornwall, UK on 22 June 2018.

The phase I drilling program is aimed at upgrading the Redmoor high-grade inferred resource of 4.5 million tonnes at 0.37% tungsten, 0.25% tin and 0.57% copper for a 1.0% tin equivalent grade.

Drilling will be targeted below the current resource where grades have shown a tendency to increase with depth.

Cornwall Resources Limited funding

New Age will fund its £332,000 share of the Redmoor 2018 phase I drilling program costs by way of participating equally with its JV partner, Strategic Minerals Plc, in a Cornwall Resources Limited placement to raise £664,000, to be undertaken during the week commencing 2 July 2018.

As a result, the loan and underwriting arrangement provided by Strategic Minerals to enable early commencement of drilling will then be cancelled.

New Age managing director Gary Fietz said: “The funds raised from tranche 1 of the placement will be mainly applied to the fully funded drilling program already underway at Redmoor aimed at extending the high-grade resource.

“Also importantly New Age will maintain its 50% ownership in Cornwall Resources Limited and the Redmoor Project.”

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Tue, 26 Jun 2018 12:15:00 +1000 http://www.proactiveinvestors.com.au/companies/news/199538/new-age-exploration-raises-capital-to-advance-drilling-at-redmoor-tin-tungsten-project-199538.html
<![CDATA[News - New Age Exploration secures funding for tin tungsten project ]]> http://www.proactiveinvestors.com.au/companies/news/199089/new-age-exploration-secures-funding-for-tin-tungsten-project-199089.html New Age Exploration Ltd (ASX:NAE) has secured $1.6 million in commitments for a two-tranche share placement priced at 0.65 cents per share.

The funding will go towards the company’s flagship 50% owned Redmoor Tin-Tungsten Project in Cornwall, UK.

Specifically, the money raised will go towards paying the company’s 50% share of the Redmoor 2018 phase I drilling program amounting to £332,000.

New Age’s managing director Gary Fietz said: “We are delighted by the strong interest in the placement and the funds raised will initially be applied to drilling about to commence at Redmoor aimed at extending the high-grade resource, directly below the current resource where grades have shown a tendency to increase with depth based on results to date.”

Lead manager elects to take fee in shares

In a show of confidence for the company, the placement’s lead manager CPS Capital has elected to take their broker fee payable only in shares at the placement price.

The shares will be issued on completion of the placement subject to shareholder approval. 

Fietz added: “CPS Capital’s request to take their broker fee only in shares demonstrates their support of the Company and their positive view on the value of our projects and we look forward to the continued relationship with CPS Capital going forward.”

READ: New Age Exploration to recommence drilling to expand high-grade tin-tungsten resource

The planned 5,000-10,000-metre program is due to an encouraging economic evaluation based on recently completed mining, processing and surface infrastructure studies.

Drilling is aimed at extending the high-grade resource in order to increase the life of a potential mining operation and consequently its economic value.

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Tue, 19 Jun 2018 11:35:00 +1000 http://www.proactiveinvestors.com.au/companies/news/199089/new-age-exploration-secures-funding-for-tin-tungsten-project-199089.html
<![CDATA[News - New Age Exploration tips off market to material capital raising ]]> http://www.proactiveinvestors.com.au/companies/news/198909/new-age-exploration-tips-off-market-to-material-capital-raising-198909.html New Age Exploration Ltd (ASX:NAE) has been granted a trading halt by the ASX ahead of a material capital raising.

Shares in the company will remain halted until the earlier of the release of information regarding the capital raising or the commencement of trading next Tuesday.

READ: New Age Exploration to recommence drilling to expand high-grade tin-tungsten resource

New Age is closing in on commencing drilling this month at its 50% owned Redmoor Tin-Tungsten Project in Cornwall, UK.

The planned 5,000-10,000-metre program is due to an encouraging economic evaluation based on recently completed mining, processing and surface infrastructure studies.

Drilling is aimed at extending the high-grade resource in order to increase the life of a potential mining operation and consequently its economic value.

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Fri, 15 Jun 2018 11:01:00 +1000 http://www.proactiveinvestors.com.au/companies/news/198909/new-age-exploration-tips-off-market-to-material-capital-raising-198909.html
<![CDATA[Media files - NAE 'chomping at the bit' to drill 'sweet spot' and update Redmoor resource ]]> http://www.proactiveinvestors.com.au/companies/stocktube/9399/nae-chomping-at-the-bit-to-drill-sweet-spot-and-update-redmoor-resource-9399.html Wed, 30 May 2018 16:54:00 +1000 http://www.proactiveinvestors.com.au/companies/stocktube/9399/nae-chomping-at-the-bit-to-drill-sweet-spot-and-update-redmoor-resource-9399.html <![CDATA[News - New Age Exploration to recommence drilling to expand high-grade tin-tungsten resource ]]> http://www.proactiveinvestors.com.au/companies/news/197751/new-age-exploration-to-recommence-drilling-to-expand-high-grade-tin-tungsten-resource-197751.html New Age Exploration Ltd (ASX:NAE) expects to commence drilling next month at its 50% owned Redmoor Tin-Tungsten Project in Cornwall, UK.

The planned 5,000-10,000-metre program is due to an encouraging economic evaluation based on recently completed mining, processing and surface infrastructure studies.

Drilling is aimed at extending the high-grade resource in order to increase the life of a potential mining operation and consequently its economic value.

Drilling to increase both tonnage and grade

New Age’s managing director Gary Fietz said: “The recently completed high level mining, processing and infrastructure studies have provided both the company and its joint venture partner, Strategic Minerals Plc, with the confidence that, subject to identification of additional high-grade resources, the Redmoor project has the potential to deliver attractive returns on investment.

“We are very encouraged by the potential of this years drilling program, expected to commence in June, to both increase the tonnage and average grade of the Redmoor resource.”

READ: New Age Exploration upgrades tin-tungsten resource and demonstrates coking coal viability

The recent studies were based on the updated high-grade Inferred Mineral Resource of 4.5 million tonnes at 0.37% tungsten, 0.25% tin and 0.57% copper for a 1.0% tin equivalent grade.

While the project is expected to deliver solid operating margins, the existing resource requires to be increased in order to achieve the joint venture partners' criteria for development investment.

Taking aim at the Exploration Target

A drilling contract has been signed to complete a phased drilling program of between 5,000 and 10,000 metres in total.

Notably, the first phase consisting of 4,000 metres has been funded by joint venture partner, Strategic Minerals Plc.

A JORC-compliant a high-grade Exploration Target of 4 to 6 million tonnes grading between 0.9 and 1.3% tin equivalent will be targeted.

The grade of the resource, in drilling to date, has shown a tendency towards increasing with depth.

It is hoped that the deeper holes planned to test the Exploration Target below the currently delineated resource, may result in further improved grades.

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Mon, 28 May 2018 09:42:00 +1000 http://www.proactiveinvestors.com.au/companies/news/197751/new-age-exploration-to-recommence-drilling-to-expand-high-grade-tin-tungsten-resource-197751.html
<![CDATA[News - New Age Exploration upgrades tin-tungsten resource and demonstrates coking coal viability ]]> http://www.proactiveinvestors.com.au/companies/news/196794/new-age-exploration-upgrades-tin-tungsten-resource-and-demonstrates-coking-coal-viability-196794.html New Age Exploration Limited (ASX:NAE) is a diversified mining group with an advanced tin-tungsten project, a potentially large coking coal project and a gold project.

The most advanced and active of these is the 50%-owned Redmoor tin-tungsten project where the mineral resource estimate was recently updated.

This project is being undertaken through 50%-owned joint-venture vehicle Cornwall Resources Limited, which also recently updated the exploration target.

High-grade inferred mineral resource

The recently completed inferred mineral resource is nearly double the inferred resource established in 2015.

It features 4.5 million tonnes at 0.37 tungsten, 0.25% tin and 0.57% copper.

The high-grade zones were identified within a sheeted vein system (SVS) and the company has identified a continuation of this trend.

New Age has confirmed that the high-grade zones extend over a strike length of more than 1000 metres and 450 metres down dip.

Exploration target

The exploration target extends down-dip below the resource and contains a drill hole with three of the best high-grade zone intersections achieved in 2017 drilling.

Importantly, mineralisation from these intersections have not yet been incorporated in the mineral resource, suggesting there is more promising news to come.

Further high-grade exploration potential was identified below and to the west of the exploration target and to the north in Kelly Bray lode.

A high definition geophysics survey has been undertaken at the western opportunity.

Assumption of high grades at depth

The exploration target has been determined by assuming a continuation of SVS mineralisation containing high-grade zones in similar frequency and thickness to those within the inferred resource.

These are anticipated to extend down-dip beyond the delineated resource, 250 metres beyond the deepest drill holes to intersect the SVS.

The exploration target is between 4 million tonnes and 6 million tonnes of mineralisation grading between 0.9% and 1.3% tin equivalent.

Drillhole CRD019, as shown below, provides significant support for the exploration target.

This hole intersected over 20 metres (true thickness) of high-grade mineralisation within the exploration target area, at grades significantly in excess of those of the reported resource above it.

Redmoor in top five

Management underlined that the Redmoor high-grade resource has recently been benchmarked against the tin and tungsten projects of competitors.

Redmoor is in the world’s top five highest grade tin-tungsten projects on a tin equivalent basis and the world’s top three new projects.

The Redmoor inferred resource has 45,000 tonnes of contained tin equivalent.

Furthermore, the exploration target has the potential to increase this to 100,000 tonnes via further drilling planned for 2018, enhancing its chances of becoming a sizeable world-class project.

Lochinvar Coking Coal Project

The Lochinvar Coking Coal Project is on the border between Scotland and England.

In March 2017, New Age announced the results of an update of a scoping study which showed a substantial improvement in the project economics.

The Lochinvar project now has a base-case NPV, determined to an accuracy of plus or minus 40%, of about US$410 million.

Its metrics also include an internal rate of return of about 27% and a payback period of around four years.

Break even at US$100 per tonne

The scoping study update demonstrates that the Lochinvar project is resilient to changes in coking coal price and other key assumptions.

Based on the study metrics, the project can deliver a break-even result at a hard coking coal price of US$100 per tonne.

The economic evaluation is based on a US$160 per tonne hard coking coal benchmark price/US$150 per tonne Lochinvar realised price.

Management noted that hard coking coal benchmark prices are stabilising at the US$170 per tonne to US$200 per tonne FOB Australian price levels.

This represents a material improvement in prices from 2014-2016 cyclical low levels.

Lochinvar sits comfortably in the lowest quartile of the 2017 Wood Mackenzie Global Seaborne Coking Coal FOB cost curve as indicated below.

With a total FOB operating cost of US$58 per tonne, Lochinvar has the potential to deliver a low-cost, long-life operation which is ideally located to supply the European steel industry.

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Fri, 11 May 2018 14:28:00 +1000 http://www.proactiveinvestors.com.au/companies/news/196794/new-age-exploration-upgrades-tin-tungsten-resource-and-demonstrates-coking-coal-viability-196794.html
<![CDATA[News - New Age Exploration plans new drilling to extend and upgrade tin-tungsten resource ]]> http://www.proactiveinvestors.com.au/companies/news/196011/new-age-exploration-plans-new-drilling-to-extend-and-upgrade-tin-tungsten-resource-196011.html New Age Exploration Limited (ASX:NAE) is preparing for a phased drilling program aimed at expanding and upgrading the inferred mineral resource at Redmoor Tin-Tungsten Project in the UK.

The proposed program will seek to expand the high-grade resource of 4.5 million tonnes at 1.0% tin equivalent through testing and conversion of the 4-6 million tonne exploration target.

Six or more close-spaced holes are also planned with the intention of upgrading the resource to the indicated category.

 

These holes will be drilled into the inferred resource high-grade zones.

New Age also aims to test wider high-grade exploration potential that has not yet been explored.

To this end, Cornwall Resources Limited (CRL), which is 50%-owned by New Age, has started discussions with potential drilling contractors for a 2018 drilling program.

CRL has also recently obtained consent to drill from Cornwall Council.

READ: New Age Exploration's updated Redmoor resource features robust tin equivalent grade

The Redmoor project is about 25 kilometres by road from the city and port of Plymouth, and 40 kilometres from the recently commissioned Hemerdon tungsten mine and processing plant.

The area has well-established infrastructure and is in the world-class Cornwall tin-tungsten-copper mineralised district.

Benchmarking ranks Redmoor highly

Redmoor’s high-grade resource has recently been benchmarked against competitor’s tin and tungsten projects.

This process has ranked Redmoor in the world’s top five highest grade tin-tungsten projects on a tin equivalent basis and the world’s top three new projects.

The inferred resource has 45,000 tonnes of contained tin equivalent and the exploration target has the potential to increase this to 100,000 tonnes via further drilling.

Mining and processing studies

Mining and processing studies are nearing completion and an economic evaluation is underway.

CRL has engaged UK-based engineers Fairport Engineering, which has recent tungsten plant construction experience, to carry out a scoping-level review of the Redmoor processing plant and surface infrastructure.

This will be done using existing metallurgical test work and process flowsheet information.

CRL has also engaged technical consultants Mining One of Australia to carry out a scoping-level review of mine design, mining capital and operating cost estimate.

This will be based on the updated high-grade resource estimate.

Strong tin outlook

New Age is buoyed by the outlook for tin and tungsten.

Tin prices continue to rise steadily with current spot prices at around US$22,000 per tonne, the highest price since 2014.

The metal has a positive outlook due to its growing use in electronics, electric vehicles, robotics and increased use of technology along with tin plating and alloys.

This is supported by declining supply and limited new supply projects, with LME tin stocks remaining at 12-year lows.

Similarly, the spot price of tungsten of about US$320 per tonne is the highest since 2014, with prices rising 70% since January 1, 2017.

Tungsten is widely used due to its unique properties, including high melting point, density and hardness.

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Mon, 30 Apr 2018 15:02:00 +1000 http://www.proactiveinvestors.com.au/companies/news/196011/new-age-exploration-plans-new-drilling-to-extend-and-upgrade-tin-tungsten-resource-196011.html
<![CDATA[Media files - New Age Exploration just scratching the surface of Redmoor resource ]]> http://www.proactiveinvestors.com.au/companies/stocktube/8915/new-age-exploration-just-scratching-the-surface-of-redmoor-resource-8915.html Wed, 21 Mar 2018 22:20:00 +1100 http://www.proactiveinvestors.com.au/companies/stocktube/8915/new-age-exploration-just-scratching-the-surface-of-redmoor-resource-8915.html <![CDATA[News - New Age Exploration's updated Redmoor resource features robust tin equivalent grade ]]> http://www.proactiveinvestors.com.au/companies/news/193421/new-age-exploration-s-updated-redmoor-resource-features-robust-tin-equivalent-grade-193421.html New Age Exploration Limited (ASX:NAE) has released an updated inferred mineral resource estimate and exploration target for its Redmoor Tin-Tungsten Project in the UK.

The project in Cornwall, which is being undertaken through its 50%-owned joint venture vehicle Cornwall Resources Limited, has revealed promising grades.

Key features of the update were the tin equivalent resource grade of 1% and associated high-grade tungsten and copper mineralisation.

Results support underground project

Redmoor is a working mine and these results strengthen the likelihood of the company being able to rebuild the project.

Managing director Gary Fietz said: “The updated Redmoor inferred mineral resource and exploration target is a major milestone on the path to rebuilding a working mine in the Redmoor area.

"Today’s announcement demonstrates the potential for the Redmoor project to host sufficient high-grade tungsten, tin and copper mineralisation to support an underground mining project."

WATCH: Strategic Minerals & NAE save the best till last with highest grades yet at Redmoor

Fietz added: “The 1.0% tin equivalent resource grade is truly world-class and sets the Redmoor project apart from the majority of competitor tin and tungsten projects.”

Fietz compares with other resource scenarios

Management highlighted the fact that a 1% tin equivalent resource grade would be equivalent in value to an in-situ copper grade of 3.1% or gold grade of 5.3 g/t at spot prices.

There is also the potential for exploration upside.

Further high-grade exploration potential has been identified below and to the west of the exploration target.

Drilling aimed at new targets and resource conversion

The upcoming drilling campaign will be aimed at determining whether or not the exploration target represents a potential mineral resource.

The company will also be looking to improve confidence in its inferred resource, potentially enabling the reporting of an indicated mineral resource.

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Tue, 20 Mar 2018 10:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/193421/new-age-exploration-s-updated-redmoor-resource-features-robust-tin-equivalent-grade-193421.html
<![CDATA[News - New Age Exploration to deliver Redmoor tin-tungsten resource update in March quarter ]]> http://www.proactiveinvestors.com.au/companies/news/190715/new-age-exploration-to-deliver-redmoor-tin-tungsten-resource-update-in-march-quarter-190715.html New Age Exploration Limited (ASX:NAE) will follow its 2017 exploration campaign at the Redmoor tin-tungsten project located in Cornwall, United Kingdom with a resource update.

This is due for release in the first quarter of 2018, and positive results to date from the project have prompted management to accelerate project development.

Completion of the second phase drilling program during the December quarter confirmed and reinforced the prospectivity of previously reported results.

Recent drilling improves on historical results

Broad high-grade zones were intersected within the Sheeted Vein System (SVS) with considerably higher grades than those delineated in the course of historical drilling.

READ: Strategic Minerals & NAE save the best till last with highest grades yet at Redmoor

The average intersection length and grade of all 33 intercepts from SVS high-grade zones drilled to date has now increased to 15 metres at 1.0% tin equivalent.

Project located in mining friendly district with nearby infrastructure

The Redmoor Tin-Tungsten Project is located between the village of Kelly Bray and the town of Callington in south-east Cornwall, United Kingdom.

It is circa 25 kilometres by road from the city and port of Plymouth, and 40 kilometres from the recently commissioned Hemerdon Tungsten mine and processing plant.

The area has well-established infrastructure and is in the world class Cornwall tin–tungsten–copper mineralised district.

New Age and Strategic Minerals JV hold licence

Cornwall Resources Limited holds a 15-year exploration licence over the Redmoor Tin and Tungsten project in the historic mining district of Cornwall, United Kingdom.

Cornwall Resources is now jointly owned by New Age Exploration and its joint venture partner, Strategic Minerals Plc (LON:SML).

A joint venture transaction was completed in February 2017 with Strategic Minerals with a total of £1.05 million paid by SML for 50% of the Redmoor project.

This earn-in payment has been primarily applied to funding the Redmoor 2017 drilling program. 

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Mon, 29 Jan 2018 12:18:00 +1100 http://www.proactiveinvestors.com.au/companies/news/190715/new-age-exploration-to-deliver-redmoor-tin-tungsten-resource-update-in-march-quarter-190715.html
<![CDATA[Media files - Strategic Minerals & NAE save the best till last with highest grades yet at Redmoor ]]> http://www.proactiveinvestors.com.au/companies/stocktube/8521/strategic-minerals-nae-save-the-best-till-last-with-highest-grades-yet-at-redmoor-8521.html Mon, 11 Dec 2017 22:36:00 +1100 http://www.proactiveinvestors.com.au/companies/stocktube/8521/strategic-minerals-nae-save-the-best-till-last-with-highest-grades-yet-at-redmoor-8521.html <![CDATA[News - New Age Exploration delivers best results to date from Redmoor Tin-Tungsten Project ]]> http://www.proactiveinvestors.com.au/companies/news/188539/new-age-exploration-delivers-best-results-to-date-from-redmoor-tin-tungsten-project-188539.html New Age Exploration (ASX:NAE) has received the best results to date from drilling at the Redmoor Tin-Tungsten Project in Cornwall, U.K.

The last five holes of the phase II program all intersected high-grade zones within the Sheeted Vein System (SVS).

There were nine significant intersections averaging 8.4 metres at 1.34% tin equivalent and with grades up to 12.38% tin equivalent.

Redmoor is a 50:50 joint venture with Strategic Minerals Plc (LON:SML), through joint venture vehicle Cornwall Resources Limited.

The project partners are on track to release a resource update in the first quarter of 2018.

The holes were the final drilled in a 20-hole, 7,046-metre program and grades were considerably higher than previous results.

WATCH: New Age Exploration eagerly awaiting final five Redmoor assays

The average length and grade of all 33 significant intersections from SVS high-grade zones has increased to 15 metres at 1.0% tin equivalent.

One hole returned 7.0 metres at 2.63% tin equivalent from 507 metres, including 1.0 metre at 12.38%, which are the best results of the program.

Depth extent increased by 180 metres

The depth extent has been increased by 180 metres and the zones remain open at depth.

Gary Fietz, managing director, said: “In comparison to other projects, the 15 metres at 1.0% tin equivalent average would be equivalent to a copper grade of 2.5% or a gold grade of 5.3 g/t.

“The results have significantly extended the potential for the resource size and grade to improve at depth, which we believe represents a major advance for the project.

“These new results have encouraged us to start looking at how we can expedite the project development.”

Funded by farm-in payment

The majority of the 2017 Redmoor drilling program was funded by a £1.05 million farm-in payment made by Strategic Minerals in February 2017.

This payment resulted in Strategic and New Age becoming 50% joint venture partners in Cornwall Resources.

The partners’ intent with the resource update is to delineate high-grade SVS zones that have potential to be amenable to underground mining.

Work in 2018 may include further resource drilling and/or metallurgical test work, initial underground mine design, engineering studies and baseline data collection.

Subject to results, this work will position the joint venture to commence an early pre-feasibility study.

READ: New Age is leveraged to a rampaging tungsten price

The Redmoor deposit contains tin, tungsten and copper, all of which have been strong performers in the past 12 months.

China produces about 80% of the world's tungsten and in recent months there have been significant supply cutbacks.

The Chinese government is imposing quotas on tungsten production and is enforcing stricter environmental and safety rules.

Tungsten classed as critical commodity

The European Union has classed tungsten as a critical commodity and the British Geological Survey places it at the top of its supply-risk list of materials needed to maintain the U.K.’s economy and lifestyle.

Fietz said: “While it is difficult to be certain about future Chinese government policy on tungsten production quotas, we expect there to be continued regulatory pressure on Chinese supply.

“This, coupled with ongoing global demand growth for tungsten is ideal timing for the Redmoor project where recent drilling results are starting to show that higher levels of tungsten may be present in the deposit.”

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Mon, 11 Dec 2017 09:58:00 +1100 http://www.proactiveinvestors.com.au/companies/news/188539/new-age-exploration-delivers-best-results-to-date-from-redmoor-tin-tungsten-project-188539.html
<![CDATA[Media files - New Age Exploration eagerly awaiting final five Redmoor assays ]]> http://www.proactiveinvestors.com.au/companies/stocktube/8346/new-age-exploration-eagerly-awaiting-final-five-redmoor-assays-8346.html Thu, 09 Nov 2017 10:28:00 +1100 http://www.proactiveinvestors.com.au/companies/stocktube/8346/new-age-exploration-eagerly-awaiting-final-five-redmoor-assays-8346.html <![CDATA[News - New Age Exploration drill results support tin-tungsten mine ]]> http://www.proactiveinvestors.com.au/companies/news/186539/new-age-exploration-drill-results-support-tin-tungsten-mine-186539.html New Age Exploration (ASX:NAE) has received results from the remaining 5 holes of its 15-hole Phase 1 drilling program at the Redmoor Tin-Tungsten Project located in Cornwall, U.K.

Assays show high-grade zones within the Sheeted Vein System (SVS), with further broad intercepts and improved grades compared to the previous positive results released in September.

WATCH NOW: New Age Exploration encouraged by first drill results at Redmoor

Results include 7.41 metres at 2.11 % tin equivalent and 15.03 metres at 1.01% tin equivalent.

Based on continued encouraging results in high-grade zones within the SVS, two more holes have been added to Phase 2 drilling, increasing it to five holes in total.

Phase 2 drilling is currently underway with only one whole remaining to be drilled – assays will be received after logged, cut and despatched to the lab.

Gary Fietz, managing director, commented

“These new results from the Redmoor drilling program continue to show broad intercepts from high-grade zones within the SVS with even higher grades than those released in September.

“This continues to support the potential for an underground mining project focussed on the high-grade zones within the Sheeted Vein System.

“Drilling of the five Phase 2 holes is now nearing completion. We look forward to providing an update on the results of these holes by the end of the year, when laboratory analysis is completed and results are compiled.

“The team will then commence working on a resource update which is expected during the first quarter of 2018.”

Drill result details

Results for the remaining five Phase 1 holes from CRD011 to CRD015 have been received.

Three of the four holes targeting the SVS intersected high-grade zones including:

- 7.41 metres at 2.11 % tin equivalent from 298.74 metres including 1.15 metres at 7.45 % tin equivalent;
- 7.83 metres at 1.52 % tin equivalent from 156.15 metres including 2.07 metres at 3.05 % tin equivalent;
- 15.03 metres at 1.01 % tin equivalent from 311.99 metres including 3.01 metres at1.51 % tin equivalent;
- 1.00 metre at 4.40 % tin equivalent from 322.02 metres; and
- 6.63 metres at 1.44 % tin equivalent from 343.74 metres including 1.00 metre at 5.56% tin equivalent.

The remaining hole targeted the Kelly Bray lode and successfully intersected a narrow but exceptionally high-grade lode grading 8.70% copper over 0.75 metres from 367.25 metres depth.

Phase 2 drilling nearly complete

The five-hole Phase 2 drilling program is continuing to target high-grade zones within the SVS with the objective of defining a high-grade resource of sufficient size to potentially support an underground mining operation.

Currently 19 of the 20 holes of the combined Phase 1 and 2 2017 program have been completed and completion of the last hole is imminent.

The results from the five Phase 2 holes will be released after completion of logging, core cutting and laboratory analysis and are expected by the end of 2017.

Working towards a resource upgrade

The SVS high-grade zone significant intercepts continue to represent potentially attractive underground mining targets.

New Age continues to believe that the delineation of the SVS high-grade zones has the potential to significantly increase the grade of the prior December 2015 SVS resource.

Following the receipt of results from the five Phase 2 holes, a resource update will be undertaken, results for which are expected in Q1 2018.

READ NOW: New Age is leveraged to a rampaging tungsten price ]]>
Wed, 01 Nov 2017 14:44:00 +1100 http://www.proactiveinvestors.com.au/companies/news/186539/new-age-exploration-drill-results-support-tin-tungsten-mine-186539.html
<![CDATA[News - New Age is leveraged to a rampaging tungsten price ]]> http://www.proactiveinvestors.com.au/companies/news/184025/new-age-is-leveraged-to-a-rampaging-tungsten-price-184025.html New Age Exploration Ltd's (ASX:NAE) recent drilling at the Redmoor Tin-Tungsten Project exceeded expectations in terms of thicknesses and grades of the mineralisation.

Redmoor is located in Cornwall, U.K, and is a 50:50 joint venture with Strategic Minerals Plc (LON:SML,USOTC:SMCDY), through the joint venture vehicle known as Cornwall Resources Limited (CRL).

New Age last traded at $0.01 for a market cap of circa $5 million, the same valuation as three months prior, yet during this time the tungsten price has spiked faster than any other major metal due to reductions in Chinese supply and increasing global demand.

Tungsten has rallied 65% since the start of the year, last being valued at US$310-335/mtu.

The supply / demand dynamic

China produces about 80% of the world's tungsten, and over the past two months there have been significant supply cutbacks.

The Chinese government is now imposing quotas on tungsten production and is tightening up on enforcement of environmental and safety rules.

The European Union has classed tungsten as a critical commodity and the British Geological Survey places it at the top of its supply-risk list of materials needed to maintain the U.K.’s economy and lifestyle.

Gary Fietz, managing director for New Age, spoke exclusively with Proactive Investors, and commented:

"While it is difficult to be certain about future Chinese government policy on the application of tungsten production quotas, we expect there to be continued regulatory pressure on Chinese supply, in a similar fashion to Chinese regulation of its metallurgical coal production over the past 12 months.

"This, coupled with ongoing global demand growth for tungsten is ideal timing for the Redmoor project where a number of the recently announced high grade drilling results is starting to show higher levels of tungsten may be present in the deposit."

The Redmoor deposit contains tin, tungsten and copper.

Providing a further potential value upside for the deposit, it's worth noting tin prices are strengthening at the US$21,000 tonne levels, while copper is up around 12% over the past four months to US$2.92 pound.

Let's talk tungsten

For those new to tungsten, it is an indispensable commodity due to its unique properties including having the highest melting point of all metals (3422 oC), a high density (19.3g/cm3 similar to gold) and hardness close to diamond.

As a result tungsten has many uses in today’s society, and most commonly for its hardness in cemented carbide tools and steel alloys, such as drill bits, cutting tools and wear resistant materials which have a range of uses in industry, construction, mining and defence.

Tungsten also has a range of uses in cars and planes, where its high density is important.

Light bulbs use tungsten wire elements, as do window heating strips in cars.

Less known is tungsten’s use in automatic watches and sports equipment such as in golf clubs.

Lastly and also importantly, tungsten has a growing use in electronics such as vibrators in mobile phones and heat sinks in modern computer processors and integrated circuits.

A re-visit to the Redmoor Tin-Tungsten Project

Results from the first 10 holes of the Phase 1 diamond drilling program have been encouraging, with broad zones of mineralisation intersected.

The thicknesses and grades exceeded the expectations of New Age's directors.

Highlights from the Sheeted Vein System (SVS) include: 14.8 metres at 1.00% tin equivalent from 245.7 metres; 17.5 metres at 0.68% tin equivalent from 265.9 metres; and 28.2 metres at 0.81% tin equivalent from 298.8 metres.

The remaining Phase 1 and Phase 2 results covering 18 to 21 holes are expected during the December quarter 2017.

Adding to the knowledge of the project, a review of historical drilling results from the 1980's has identified 31 significant high-grade intercepts within the SVS, some of which were previously interpreted to represent high-grade lodes.

Historical highlights include: 6.0 metres at 3.73 % tin equivalent from 282.0 metres, supported by broad zones such as: 30.7 metres at 0.91% tin equivalent from 354.0 metres; and 65.0 metres at 0.62% tin equivalent.

A key to the project is that the joint venture has maintained a close working relationship with the local community and local and County Councils.

There is ongoing positive community support with Cornwall Council extending drilling consent to 31 October 2017.

The joint venture has also provided local employment, while there is also collaboration with universities, providing further opportunities for master's students.

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Fri, 15 Sep 2017 09:06:00 +1000 http://www.proactiveinvestors.com.au/companies/news/184025/new-age-is-leveraged-to-a-rampaging-tungsten-price-184025.html
<![CDATA[News - WATCH NOW: New Age Exploration's Gary Fietz encouraged by first drill results at Redmoor ]]> http://www.proactiveinvestors.com.au/companies/news/183637/watch-now-new-age-exploration-s-gary-fietz-encouraged-by-first-drill-results-at-redmoor-183637.html New Age Exploration Ltd's (ASX:NAE) managing director, Gary Fietz, has discussed the rising tungsten price and the latest assays from the Redmoor Tin-Tungsten Project with Proactive Investors.

WATCH NOW: New Age Exploration encouraged by first drill results at Redmoor

New Age is partnering with Strategic Minerals Plc (LON:SML,USOTC:SMCDY), through the joint venture vehicle known as Cornwall Resources Limited (CRL).

READ NOW: New Age sharpens focus as news flows from Redmoor Tin-Tungsten Project ]]>
Fri, 08 Sep 2017 07:32:00 +1000 http://www.proactiveinvestors.com.au/companies/news/183637/watch-now-new-age-exploration-s-gary-fietz-encouraged-by-first-drill-results-at-redmoor-183637.html
<![CDATA[News - New Age sharpens focus on high-grade zones as news flows from Redmoor Tin-Tungsten Project ]]> http://www.proactiveinvestors.com.au/companies/news/183572/new-age-sharpens-focus-on-high-grade-zones-as-news-flows-from-redmoor-tin-tungsten-project-183572.html New Age Exploration Ltd (ASX:NAE) is poised to increase exploration news flow in coming months from the 50% owned Redmoor Tin-Tungsten Project in Cornwall, United Kingdom.

New Age is partnering with Strategic Minerals Plc (LON:SML,USOTC:SMCDY), through the joint venture vehicle known as Cornwall Resources Limited (CRL).

Results from the first 10 holes of the Phase 1 diamond drilling program have been encouraging, with broad zones of mineralisation intersected.

The thicknesses and grades exceeded the expectations of New Age's directors.

Highlights from the Sheeted Vein System (SVS) include: 14.8 metres at 1.00% tin equivalent from 245.7 metres; 17.5 metres at 0.68% tin equivalent from 265.9 metres; and 28.2 metres at 0.81% tin equivalent from 298.8 metres.

The remaining Phase 1 and Phase 2 results covering 18 to 21 holes are expected during the December quarter 2017.

A resource update is then expected in the March quarter 2018.

Gary Fietz, managing director for New Age, commented:

"The initial 10 holes drilled at Redmoor this year include a number of encouraging intercepts with excellent thicknesses and grades from high-grade zones within the SVS.

"We have re-focused Phase 2 of the drilling program on further definition of high-grade zones within the SVS which we believe are a superior underground mining target than the high-grade lodes targeted by the earlier Phase 1 holes.

"We look forward to updating the market on the remaining Phase 1 and Phase 2 drilling results in quarter 4 this year and on the resource update in the first quarter of 2018."

WATCH NOW: New Age's Gary Fietz discusses tungsten price and latest results

Adding to the knowledge of the project, a review of historical drilling results from the 1980's has identified 31 significant high-grade intercepts within the SVS, some of which were previously interpreted to represent high-grade lodes.

Historical highlights include: 6.0 metres at 3.73 % tin equivalent from 282.0 metres, supported by broad zones such as: 30.7 metres at 0.91% tin equivalent from 354.0 metres; and 65.0 metres at 0.62% tin equivalent.

These intercepts provide confidence in the continuity of high-grade zones.

Next steps

Phase 2 exploration is focused on further definition of the high-grade zones identified within the SVS as these have greater potential for a more economically attractive underground mining target than the high-grade lodes.

Location and support

CRL has maintained a close working relationship with the local community and local and County Councils.

There is ongoing positive community support with Cornwall Council extending drilling consent to 31 October 2017.

The joint venture has also provided local employment, while there is also collaboration with universities, providing further opportunities for master's students.

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Thu, 07 Sep 2017 13:03:00 +1000 http://www.proactiveinvestors.com.au/companies/news/183572/new-age-sharpens-focus-on-high-grade-zones-as-news-flows-from-redmoor-tin-tungsten-project-183572.html
<![CDATA[Media files - New Age Exploration encouraged by first drill results at Redmoor ]]> http://www.proactiveinvestors.com.au/companies/stocktube/8044/new-age-exploration-encouraged-by-first-drill-results-at-redmoor-8044.html Thu, 07 Sep 2017 09:47:00 +1000 http://www.proactiveinvestors.com.au/companies/stocktube/8044/new-age-exploration-encouraged-by-first-drill-results-at-redmoor-8044.html <![CDATA[News - New Age Exploration's drilling well advanced at tin-tungsten project in Cornwall ]]> http://www.proactiveinvestors.com.au/companies/news/183138/new-age-exploration-s-drilling-well-advanced-at-tin-tungsten-project-in-cornwall-183138.html New Age Exploration Ltd (ASX:NAE) and 50:50 joint venture partner Strategic Minerals Plc (LON:SML) is advancing drilling at the Redmoor Tin-Tungsten Project in Cornwall, United Kingdom.

The phase 1 drilling program comprises an initial 13 holes targeting high grade mineralisation.

Drilling is well advanced with results expected around September 2017.

Redmoor

The Redmoor Tin-Tungsten Project is located between the village of Kelly Bray and the town of Callington in southeast Cornwall, around 25 kilometres by road from the city and port of Plymouth.

New Age owns 50% of Cornwall Resources Limited (with Strategic Minerals Plc the other 50%) which holds a 15-year exploration licence and Option for a Mining Licence over the Redmoor project.

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Wed, 30 Aug 2017 16:48:00 +1000 http://www.proactiveinvestors.com.au/companies/news/183138/new-age-exploration-s-drilling-well-advanced-at-tin-tungsten-project-in-cornwall-183138.html