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Canada
River Valley Project

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 Location:
60 km NE from Sudbury, Ontario, Canada

  Project Contacts:
59 Burtch's Lane 1000 Islands
Rockport
Ontario, Canada
K0E 1V0
Phone  ...  Subscription required
Fax+1-613-659-3887
EmailEmail
WebsiteWeb
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Overview

StagePre-Feasibility
Mine TypeOpen Pit
Commodities
  • Palladium
  • Platinum
  • Rhodium
  • Gold
  • Copper
  • Nickel
  • Cobalt
  • Silver
Mining Method
  • Truck & Shovel / Loader
Mine Life14 years (as of Jan 1, 2019)


Owners

Source: p. 13
CompanyInterestOwnership
New Age Metals Inc. 100 % Direct
River Valley PGM Project is 100% owned by New Age Metals (NAM).

Contractors

Subscription required - Subscription is required.


Deposit Type

  • Breccia pipe / Stockwork
  • Intrusion related
  • Stratabound


Summary:

Two styles of mineralization have been observed at the Project: contact nickel-PGE mineralization and reef PGE mineralization. The presence of several highly-anomalous assays from rocks lying within higher portions of the River Valley Intrusion’s stratigraphy suggests that there are opportunities for PGE mineralization such as reef or stratabound-type targets, or narrow, high-grade breccia zones.

The three largest and most economically interesting mineralized bodies of the East Bull Lake Suite Intrusives are the East Bull Lake and Agnew Lake Intrusions (situated within the Sudbury Province), and the River Valley Intrusion (situated in the Grenville Front Tectonic Zone). The River Valley Intrusion, the largest of the East Bull Lake Intrusive Suite by area, covers an area of approximately 200 km2. An economically important feature commonly shared by the Agnew Lake, East Bull Lake, and River Valley Intrusions is the occurrence of a copper-nickel-PGE bearing breccia unit situated at the base of the intrusions, where the footwall contact is preserved.

The contact between the River Valley Intrusion and the Archean basement trends southeasterly for a distance of approximately 16 km. On the basis of surface mapping and diamond drilling, the idealized sectional stratigraphy of the mineralized environment comprises five major units, from the layered rocks of the River Valley Intrusion in the west to the igneous basal contact of the intrusion to the east.


Mining Methods

  • Truck & Shovel / Loader


Summary:

The River Valley Deposit is relatively shallow and lends itself to conventional open pit mining methods. Accordingly, the PEA mine plan entails developing 14 open pits aligned across approximately 16 km on the Property. An open pit mining and processing schedule has been developed for the Project. The mine production plan utilizes Measured, Indicated and Inferred Mineral Resources. Inferred Mineral Resources are considered too speculative geologically to have the economic considerations applied to them to be categorized as Mineral Reserves, and there is no certainty that the Inferred Mineral Resources will be upgraded to a higher Mineral Resource classification.

Open pit optimizations were run based on an NSR cut-off value of $11.45/t and a pit slope angle of 48°, with a mining cost for all materials of $2.00/t. A slope angle of 50° for PEA level pit optimization was recommended by Mine Design Engineering Inc. (“MDEng”), and it was subsequently flattened by 2° in the pit optimizations to allow for haulage ramps. Benches and haul roads were added during the creation of each pit design.

Mining dilution of 9.5% and 3% mining losses at diluting grades that averaged 0.22 g/t PdEq were incorporated to estimate the diluted potentially mineable portion of the Updated Mineral Resource Estimate (process plant feed). Total process plant feed was estimated at 78.1 Mt at a LOM average grade of 0.88 g/t PdEq. Total waste material within the open pits was estimated ........


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityProductUnitsAvg. AnnualLOM
Copper Concentrate kt 224
Palladium Equivalent Payable metal oz  ......  Subscription required
Palladium Payable metal oz  ......  Subscription required

Operational Metrics:

Metrics
Stripping / waste ratio 3.6 *
Daily mining capacity 110 kt *
Annual mining capacity 40 Mt *
Waste tonnes, LOM 276.4 Mt *
Ore tonnes mined, LOM 78.1 Mt *
Total tonnes mined, LOM 355.7 Mt *
Tonnes processed 78.1 Mt *
Daily processing capacity 21,920 t *
Annual processing capacity 6 Mt *
* According to 2019 study.

Reserves at September 14, 2021:
The NSR cut-off value of the pit constrained Mineral Resource is CDN$15/t and the out-of-pit Mineral Resource is CDN$50/t.

CategoryTonnage CommodityGradeContained Metal
Measured & Indicated 89,640 kt Palladium 0.54 g/t 1,568 koz
Measured & Indicated 89,640 kt Platinum 0.21 g/t 606.4 koz
Measured & Indicated 89,640 kt Rhodium 0.019 g/t 53.8 koz
Measured & Indicated 89,640 kt Gold 0.04 g/t 106.7 koz
Measured & Indicated 89,640 kt Copper 0.06 % 114.7 M lbs
Measured & Indicated 89,640 kt Nickel 0.01 % 27.9 M lbs
Measured & Indicated 89,640 kt Cobalt 0.002 % 4.9 M lbs
Measured & Indicated 89,640 kt Silver 0.26 g/t 759.8 koz
Inferred 94,268 kt Palladium 0.35 g/t 1,074 koz
Inferred 94,268 kt Platinum 0.16 g/t 480.6 koz
Inferred 94,268 kt Rhodium 0.014 g/t 43.7 koz
Inferred 94,268 kt Gold 0.03 g/t 94.2 koz
Inferred 94,268 kt Copper 0.04 % 88.1 M lbs
Inferred 94,268 kt Nickel 0.02 % 42 M lbs
Inferred 94,268 kt Cobalt 0.002 % 3.3 M lbs
Inferred 94,268 kt Silver 0.25 g/t 756 koz

Commodity Production Costs:

CommodityUnitsAverage
Cash costs Palladium Equivalent USD  ......  Subscription required&nbs
All-in sustaining costs (AISC) Palladium Equivalent USD  ......  Subscription required&nbs
Assumed price Rhodium USD  ......  Subscription required&nbs
Assumed price Palladium USD  ......  Subscription required&nbs
Assumed price Platinum USD  ......  Subscription required&nbs
Assumed price Cobalt USD  ......  Subscription required&nbs
Assumed price Nickel USD  ......  Subscription required&nbs
Assumed price Copper USD  ......  Subscription required&nbs
Assumed price Gold USD  ......  Subscription required&nbs
* According to 2019 study / presentation.

Operating Costs:

Units2019
OP mining costs ($/t mined) CAD 2.28 *
OP mining costs ($/t milled) CAD  ......  Subscription required
Processing costs ($/t milled) CAD  ......  Subscription required
Total operating costs ($/t milled) CAD  ......  Subscription required
* According to 2019 study.
Subscription required - Subscription is required.

2019 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M CAD  ......  Subscription required
Sustaining CapEx $M CAD  ......  Subscription required
Closure costs $M CAD  ......  Subscription required
Total CapEx $M CAD  ......  Subscription required
OP OpEx $M CAD  ......  Subscription required
Processing OpEx $M CAD 659.3
Transportation (haulage) costs $M CAD 9.9
G&A costs $M CAD 67.5
Total OpEx $M CAD  ......  Subscription required
Total Taxes $M CAD  ......  Subscription required
Royalty payments $M CAD  ......  Subscription required
Net revenue (LOM) $M CAD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M CAD  ......  Subscription required
After-tax Cash Flow (LOM) $M CAD  ......  Subscription required
Pre-tax NPV @ 0% $M CAD  ......  Subscription required
Pre-tax NPV @ 5% $M CAD  ......  Subscription required
After-tax NPV @ 0% $M CAD  ......  Subscription required
After-tax NPV @ 5% $M CAD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.


Proposed Heavy Mobile Equipment as of August 7, 2019:
HME TypeModelSizeQuantityLeased or
Contractor
Crane 40 t ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
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Subscription required - Subscription is required.

Mine Management:

Job TitleNameEmailProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Dec 2, 2022
....................... Subscription required ....................... Subscription required ....................... Subscription required Jun 27, 2019
....................... Subscription required ....................... Subscription required Subscription required Jun 27, 2019
....................... Subscription required ....................... Subscription required Subscription required Dec 2, 2022
Subscription required - Subscription is required.

Staff:

Total WorkforceYear
Subscription required 2019

Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2022
................................... Subscription required 2021
................................... Subscription required 2019
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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