logo-loader
New Age Exploration Ltd

New Age Exploration receives best results to date from Redmoor Tin-Tungsten Project

Results demonstrate the potential for a larger higher-grade resource extending to depth and increasing in grade.

Preparing core samples
Preparing core samples at the Redmoor project in Cornwall

New Age Exploration Limited (ASX:NAE) has received best results to date from its Redmoor Tin‐Tungsten Project in the UK with almost all being higher grades than the high-grade inferred resource.

Multiple high‐grade zones have been intersected within the Sheeted Vein System (SVS) in the first two holes of the phase I program.

Increasing grades at depth

Results of up to 14.10 metres at 1.44% tin equivalent from 420.25 metres, including 2.00 metres at 4.55% highlight increasing grades at depth.

Managing director Gary Fietz said, “These results have exceeded our expectations and continue to demonstrate the potential for a larger higher‐grade resource extending to depth and increasing in grade with depth at Redmoor.”

 

The drilling by 50%-owned joint venture vehicle Cornwall Resources Limited (CRL) provides evidence of down‐dip extensions of high‐grade SVS zones and potentially extends deeper mineralisation along strike.

Other strong results are:

- 14.21 metres at 1.13% tin equivalent from 644.63 metres, including 1.59 metres at 5.06%;
- 7.65 metres at 1.48% from 670.02 metres, including 1.09 metres at 4.84%;
- 9.75 metres at 1.01% from 405.00 metres, including 1.5 metres at 3.42%; and
- 10.88 metres at 0.92% from 483.36 metres, including 4.20 metre at 1.89%.

READ: New Age Exploration finds multiple tungsten zones at Redmoor project

Drilling of three further holes of the phase I program is complete and these holes are being sampled and analysed.

Coarse blocky wolframite in quartz veins.

Visually, these holes have also intersected multiple zones of tungsten and copper mineralisation of a similar appearance to that in the first two holes.

Wolframite and chalcopyrite in quartz veins.

CRL began the phase I program in June 2018 aimed at further increasing the tonnage and grade of the high‐grade tin‐tungsten‐copper inferred resource of 4.5 million tonnes at 1.0% tin equivalent within the SVS.

READ: New Age Exploration substantial shareholder increases interest to 8.65%

Fietz said, “Based on the outstanding results to date from phase I, we expect to be providing an update within a month on the additional drilling plans being prepared by CRL which will pave the way for the commencement of a PFS in 2019.”

Drilling of the final two phase I holes is underway and this work is expected to be completed in early October.

Due to encouraging mineralisation, the majority of holes have been slightly extended beyond planned depths, with the total drilled depth for the phase 1 program forecast to be around 4,200 metres.

Assessing further drilling

Based on phase I results to date, the project partners are reviewing plans to undertake additional drilling.

The aims would be to further expand the size of the high‐grade resource and to increase the level of confidence of a portion of the resource to the indicated resource classification.

These are prerequisites to commencing a pre‐feasibility study in 2019.

Quick facts: New Age Exploration Ltd

Price: $0.00

Market: ASX
Market Cap: $2.67 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of New Age Exploration Ltd named herein, including the promotion by the Company of New Age Exploration Ltd in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

New Age Exploration advancing Redmoor and Otago, exploring Lochinvar options

New Age Exploration Ltd (ASX:NAE) chairman Alan Broome provides Proactive Investors with a thorough update on the company's international portfolio of assets. The UK Redmoor project, being developed in JV with Strategic Mineral PLC (LON:SML), is advancing at an opportune time with respect...

on 15/2/19

3 min read