The Drift: Smaller is greener and cheaper for Sturgeon Falls-area palladium mine developer – by Ian Ross (Northern Ontario Business – July 5, 2023)

New Age Metals rolls out revised economic assessment for its River Valley PGM project

The company that once hawked its River Valley project, east of Sudbury, as the “largest undeveloped primary PGM resource in North America” has come back with a revised mine plan.

Inflation and a number of other uncertainties forced New Age Metals to go back to the drawing board last spring to sketch out new plans for a potential platinum group metals mine in the West Nipissing-Sturgeon Falls area.

In a preliminary economic assessment (PEA) released last week, New Age is proposing a smaller scale mining operation, targeting higher grade platinum group metals on its 15,800-acre property. They also plan to shrink the scale of the operation to reduce the environmental footprint.

The River Valley site is 60 kilometres east of Sudbury, 100 kilometres by road, and just north of the rural community of Field. The property has been heavily explored for platinum and palladium for decades. New Age (formerly known as North West Capital) picked up the ground in 1998.

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