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O C T O B E R / N O V E M B E R 2 0 1 8 www.resourceworld.com 53 MINING opportunities exist for PGM mineralization such as reef or stratabound-type targets or narrow, high-grade breccia zones. Contact-style PGM mineralization is the most common form within the East Bull Lake Intrusive Suite. Mineralized zones are generally restricted to within 200 to 300 metres of the true footwall contact and are typically 20 to 100 metres wide. NAM has a solid business case for developing its River Valley Project given projected demand by the auto sector for platinum and palladium, used in catalytic converters. Palladium is predominantly used in gasoline engine converters while platinum has been predominant in die - sel engines. Gross auto-catalyst demand accounted for 84% of total palladium demand in 2017 while other industrial demand components accounted for 13%. According to Specialty Metals, Smelters & Refiners LLC, there are between 3-7 grams of platinum group metals in a stan - dard catalytic converter, although the amount can vary. Barr's objective is to make the River Valley PGM Project North America's next primary palladium producer. Management is advancing the project towards a Preliminary Economic Assessment (PEA). P&E Mining Consultants has been commissioned to lead the PEA with assis - tance provided by Toronto-based DRA Americas. The company will assess results from previous and ongoing mineralogical and metallurgical studies and help create a business model to determine an optimal processing route. The PEA will create a mine plan, mine schedule, plus capital and operating cost estimates which will be incorporated into a financial model to provide total cash flow, Net Present Value (NPV) and Internal Rate of Return. NAM plans to initiate a fourth phase drilling program on the newly discovered high-grade Pine Zone which will contrib - ute to the early PEA work performed by P&E and DRA. The PEA is expected in Q2 or Q3 2019. Exploration remains a priority with more drilling in the northern portion of the project in mid-to-late 2019. Geotechnical, metallurgical, mineralogical and cost esti - mation work is ongoing which will assist in preparing the PEA. An early conceptual development plan for the project envis- ages a series of open pits over the 16 km of mineralization, initially focusing on the northern portion of the project. Mineral processing would be done on site, with the concentrate shipped to Sudbury for smelt- ing and refining. In addition to its palladium-platinum assets in the Sudbury camp, NAM has diversified its portfolio to include lithium. NAM owns eight lithium projects in the Winnipeg River Pegmatite Field, southeast Manitoba with three projects drill-ready. This pegmatite field hosts the Tanco peg - matite that has been mined for tantalum, cesium and spodumene (a primary lithium mineral) in varying capacities since 1969. At the present time, NAM is the largest claim holder for lithium and rare metal projects in the Winnipeg River Pegmatite Field. Last April, NAM acquired the right to purchase 100% of the Genesis PGM Project, the first of its kind in Alaska. The project is a road accessible, under-explored, highly prospective, multi-prospect, drill-ready, palladium- platinum-nickel-copper property. A report covering previous exploration along with a recommended work program was recently prepared by Avalon Development of Fairbanks Alaska. Management is seek - ing an option/joint-venture partner for the project. n * Resource World does not sell your information to third parties #604-700 W Pender St., Vancouver BC V6C 1G8 Canada online at www.resourceworld.com or phone 1.877.484.3800 SAVE 50% up to Resource World (Print and Digital Edition) 1 Year/6 issues (CAD $24.95) Resource World (Digital Edition) 1 Year/6 issues (CAD $12.95) Resource World International (outside Canada and USA (Print and Digital Edition) 1 Year/6 issues (CAD $99.95) NAME ADDRESS TEL EMAIL