In the coming year, New Age Metals is planning to undertake the largest lithium exploration program ever in Manitoba. The company has just announced $7 million in exploration, teaming up with the Australia company Mineral Resources Ltd., one of the top five lithium producers in the world.
The exploration project will include 15,000 metres of diamond drilling as well as all sorts of geophysical surveys including soil and rock geochemical sampling grids and mapping/prospecting. New Age is looking to capitalize on the current high level of interest in lithium development in Canada, something that most believe is essential for the development of a North American supply chain for the coming dominance of the electric vehicle.
Harry Barr, the CEO of New Age Metals, said, “There’s been lots of exploration in Canada but not much actual production going on, so we’re pretty much behind. We know that in the past few months Manitoba has expressed an interest in developing the lithium space.”
New Age has been active in Manitoba for about seven years and through that time it has amassed the largest mineral claims portfolio in the Winnipeg River/Cat Lake region about 140 kilometres northeast of Winnipeg known for the kind of rock formations in which lithium occurs.
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