NAM is a North American focussed explorer and developer, with palladium-platinum (PGM) and lithium assets. The most advanced project is the River Valley PGM Project ~100km northeast of Sudbury in Ontario, a contact-style PGM-copper sulphide deposit hosted in breccias at the base of the River Valley intrusion. With Measured and Indicated Resources of 91.3Mt @ 1.38 g/t PdEq and Inferred Resources of 35.9Mt @ 1.07g/t PdEq, River Valley is the largest undeveloped primary PGM resource in Canada. Work to date has also highlighted the potential for higher grade zones, with drilling at the north end intersecting up to 18m @ 2.786 g/t Pd + Pt from 137m downhole – the delineation of higher grade zones should have a beneficial effect on the flexibility and economics of any future operation.
The recent acquisition of the River Valley Extension Project highlights the potential for resource expansions, increasing the prospective strike length from 12 km to 16 km, with a number of targets yet to be tested. Upcoming work will include additional drilling and target generation, with this to lead into a Preliminary Economic Assessment.
On the lithium Front NAM has a number of projects, and is the largest claim holder in the Winnipeg River Pegmatite Field in Manitoba, the host of the Tanco Pegmatite Mine, which reportedly hosts the world’s highest grades of tantalum and cesium. Although spodumene (lithium) and tantalum are currently not being produced, historic resources indicated lithium grades of 2.7% Li2O, high by global operation standards. Although the Company’s lithium projects are relatively early stage, the results of historic work have been very positive, identifying a number of pegmatites, and, at Lithium One, returning assays of up to 6.47% Li2O. Drilling is planned for 2017.