Page 48 One of Ontario s fagship mining camps still has plenty of life The Sud bury mining basin and the region s extraordinary supply and services sec tor continues to grow innovate and provide stabilit y for tens of thousands of employees W ith more than a dozen mines in the region and plenty of ex ploration projects Sudbury remains one of Ontario s economic engines Companies like T orontobased Inven tus Mining Corporation are relatively new players to the region In late No vember Inventus released an enthu siastic report to investors suggesting they were confdent theyve stumbled on to a promising gold property north east of Sudbury A number of Sudbury s less proftable mines are in care and maintenance mode as operators wait for a dramatic bump in the price of nickel The stalwarts of the basin the historic properties that have sustained the re gion for more than a century continue to produce while industry innovators collaborate with tech companies in search of solutions to things like deep mining It s the smaller companies like W all bridge Mining that are making the most noise In an interview with Min ing Life W allbridge President and CEO Marz Kord spoke about the company s extraordinary results in Quebec that have impacted the direc tion they want to go with their Sud bury assets W e still have a very valuab le set of properties in Sudbury and we need to unlock that value said Kord W e want to spin it Sudbury land pack age out because we understand that PGM is a diferent kind of investing group but Im a big believ er that it is kind of like sending your kids away you don t want them to come back for rent money so we needed to have another near term to production as set Kord says W allbridge hopes to spin out the Sudbury assets by the end of the year while maintaining an inter est in some of the properties giving shareholders value in the PGM sector as well as gold The Broken Hammer project was dis covered by W allbridge s exploration team with the frst identifcation of mineralization in 2003 Based on the positive results of a 30000 tonne bulk sample in 201 1 W allbridge initiated a prefeasibility study and permitting process in preparation for the opera tion of Broken Hammer deposit as a small open pit operation W allbridge received all required permits for the operation of its Broken Hammer open pit project in 2014 and used the pro ceeds from that project to fnance the Fenelon play Overall 2020 and beyond for Ontar io s premiere mining camps including Sudbury Kirkland Lake T immins and northwestern Ontario is predict ably upbeat Each region is enjoying the benefts of a spike in precious metals prices and the added beneft of rising global demand for rare earth el ements REE and battery metals for electric vehicles Sudbury active heading into new decade By Kevin V incent Page 49 B y K e vin V inc ent T he new decade has tur ned up new in v estmen ts f or New A ge M et als NA M as the c ompan y looks t o bec ome the new est pr oduc er in the Sudbur y r eg ion and the c om pan y has a notable en thusiast Er ic Spr ott New A ge announc ed F ebruar y 3r d tha t IBK C apital C or p had fnaliz ed a shar e pr og r am injec ting 2 mil lion in t o the c ompan y the lions shar e of tha t in v estmen t 700000 came fr om Spr ott W e ar e v er y pleased t o ha v e Er ic Spr ott as a par tner of New A ge M et als I nc H is r ec or d of suc c ess is quit e simply unma t ched said Har r y Bar r Chair man and Chief Ex ecutiv e O f c er of New A ge M etals NA M s en thusiasm f or pal ladium is par tly fueled b y its pr o ximit y t o the w or ld class nickel deposits of the Sud bur y basin T he g r oss pr oc eeds of the fnancing will be used t o dev elop the C ompan y s 100 per c en t o wned R iv er V alley palladium pr ojec t loca t ed 60 miles fr om the Sudbur y metallur g ical c omple x in Sudbur y On tar io I n mid2019 NA M r eleased a P r eliminar y E c onomic A s sessmen t PEA suggesting the pr oper t y has up t o 14 y ears of pr oduc tion W e ar e pleased t o upda t e our shar eholders and in t er est ed par ties as t o the r esults of the initial P r eliminar y E c o nomic A ssessmen t PEA f or the c om pan y s 100 o wned R iv er V alley PGM P r ojec t in Sudbur y On tar io said Bar r T he PEA has been dev eloped b y v ar i ous independen t c onsultan ts PE M ining C onsultan ts I nc PE w as r esponsible f or the open pit mining sur fac e infr astruc tur e tailings facilit y and pr ojec t ec onomics DR A A mer i cas I nc DR A w as r esponsible f or all metallur g ical t est w or k and pr oc ess ing aspec ts of the P r ojec t and WSP C anada I nc WSP w as r esponsible f or the M iner al R esour c e Estima t e T he PEA demonstr a t es positiv e ec o nomics f or a lar ge scale mining open pit oper a tion with 14 y ears of P alla dium and P la tinum pr oduc tion New A ge M etals is a junior miner al e x plor a tion and dev elopmen t c ompan y f ocused on the disc o v er y e xplor a tion and dev elopmen t of g r een metal pr ojec ts in Nor th A mer ica T he C om pan y has t w o divisions a P la tinum Gr oup M etals division and a Lithium R ar e Elemen t division T he PGM divi sion includes the 100 o wned R iv er V alley P r ojec t one of Nor th A mer icas lar gest undev eloped P la tinum Gr oup M etals P r ojec ts situa t ed 100 k ilome t ers fr om Sudbur y On tar io as w ell as the G enesis PGM P r ojec t in A lask a T he Lithium division is the lar gest miner al claim holder in the W innipeg R iv er P eg ma tit e F ield wher e the C om pan y is e xplor ing f or har d r ock lithium and v ar ious r ar e elemen ts such as tan talum and rubidium P r ojec t gains in v est or c onfdenc e and C anada s t op mining b o ost er