One of the companies that could be in sharp focus this morning is New Age Metals Inc. (OTC: NMTLF) after it made a major new announcement yesterday. On Thursday, the company revealed that it had been successful in map staking at six highly promising gold-antimony properties located in Labrador and Newfoundland.
The Implications
In the news release, the company announced that out of the six properties, five were non-contagious ones that were adjacent and along the strike of well-known Au-Sb occurrences in the St. Albans region of Newfoundland. The other property was along the strike of the Beaver Brook Antimony Mine located in the North-Central zone of Newfoundland. It was also noted that the development was a significant one since it signaled New Age Metals’ expansion into the North American exploration space following the staking of the above-mentioned properties.
Further Details
The company went on to note that the six properties that had been staked had also been selected after thorough consideration thanks to their closeness to the Au-Sb mineralization. Thanks to these acquisitions, New Age Metals attained a position from which it could make more discoveries in the critical metals space.
Harry Barr, Chairman and CEO, commented, “We are excited to expand our North American exploration footprint with the staking of these highly prospective gold-antimony properties in Newfoundland. This strategic staking builds on favorable geology along the strike of the Swanger’s Cove and Le Pouvoir Au-Sb properties and the Beaver Brook Mine, reinforcing NAM’s commitment to aggressive exploration for critical metals in under-explored areas of Newfoundland and Labrador. Data compilation and target generation efforts are already underway, with field exploration to begin by late spring to early summer 2025. With gold prices at historic highs and antimony recognized as a strategic critical metal, NAM is well-positioned to capitalize on these market trends and advance high-grade Au-Sb discoveries. This is an exciting time for NAM, and we look forward to unlocking the potential of these properties through targeted exploration efforts.”
