Company Reports > Next Gen Metals Inc.

 
 

Report Date :  

 July 2012

Telephone :  

 604.685.1870

Symbol :  

 N.TSX.V

Facsimile :  

 604.685.8045

Contact :  

 Investor Relations

  

 

URL :  

 www.nextgenmetalsinc.com

eMail :  

 info@nextgenmetalsinc.com

 

One of the most advantageous features of belonging to the Vancouver-based International Metals Group (IMG) of companies is the ability to share exploration, geologic and management expertise across a wide range of mining applications. The newest company which has joined this elite group is NEXT GEN METALS, INC. (TSX-V; N).

The company now has two primary projects in its inventory, Silver Chalice and the Fate gold/base metals project in Quebec.

Next Gen's had devoted considerable effort regarding its option on the Destiny Gold Project located adjacent to Fate but recently decided to terminate its option Agreement with Pacific Northwest Capital (PFN), a fellow IMG corporation. Their 2012 drill program designed to test the 1 Km long area between the DAC Deposit and the Darla Zone at shallow depths failed to produce the desired results and the company elected to terminate their interest rather than engage in required extensive infill and exploration drilling.
 


SILVER CHALICE

The Silver Chalice epithermal gold/silver project consists of 31 State of Alaska mining claims covering about 2,000 hectares (4,960 acres) located in west-central Alaska approximately 560 Km (345 miles) northwest of Anchorage and approximately the same distance southwest of Fairbanks. The Silver Chalice project is found within a Tertiary volcanic caldera which geologists suggest has the potential to host significant epithermal gold and silver mineralization.

Early exploration work involving stream sediment sampling anomalous in gold and indicator minerals plus pan concentrate sampling anomalous in gold and mercury strongly support the gold and silver potential of the caldera and adjacent areas.

The companyís plans for Silver Chalice include a proposed 2,000 meter drill program planned for later in 2012.
 


FATE GOLD / BASE METALS PROJECT

Next Gen's Fate Gold Project is located adjacent to the Destiny Gold Project in the Abitibi Greenstone Belt of Southwestern Quebec, shares the same favourable infrastructure and consists of 83 claims covering approximately 4,000 hectares (9,880 acres). Next Gen based much of their recent staking activity on information obtained from the Destiny Project as well as data from Maudore Minerals` nearby Comtois Project.

The specific area of the Fate Project is located in the western portion of the Abitibi Greenstone Belt where company management believes that thicker over-burden has hindered past exploration efforts. Fate covers approximately eight kilometres of the western extension of this under-explored zone.

Quebec is regarded as one of the premier mining jurisdiction in North America since the province regards mining exploration and development as a valuable asset. "La Belle Province" gives financial support to companies actively exploring, they have instituted efficient permitting procedures and Quebec is consistently ranked near the very top of the Fraser Institute's ranking of worldwide mining jurisdictions. Infrastructure in the project area is excellent with paved roads, railroads facilities and electric power located nearby and mining personnel and equipment are available at several area communities including the major mining center of Val d'Or, located just 75 Km from Fate.

Numerous historically important geologic formations are to be found in the general region which includes such famous mining camps as Cadillac-Larder; Bosquet, Kirkland Lake, Val d`“r-Malartic, Timmins, Holloway and Duparquet.

At present, the company's proposed exploration activities at Fate for 2012 include airborne geophysics; MMI soil sampling; and additional prospecting activities, all designed to advance the Fate Property to the drill stage by Fall 2012.

The company management team is headed by Harry Barr, President & CEO; Jay Oness, COO; Gord Steblin, CFO; Bill Stone, Exec VP - Exploration; and Scott Donaldson, VP - Business Dev.

Additional information is available at the company website, www.nextgenmetalsinc.com  or by contacting Investor Relations at info@nextgenmetalsinc.com
 

NOTE:  This report will be updated as new information is provided and also following a property visit which will be scheduled at the earliest opportunity.

 

 
Next Gen Metals Inc.

650-555 West 12th Avenue,

City Square, West Tower
Vancouver, BC, Canada, V5Z 3X7

Telephone :

  604.685.1870

Facsimile :

  604.685.8045
 
 
 

The Melman Report

244 - 2465 Apollo Dr.
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V9P 9K2
 
T. 250.947.5505
F. 250.468.7027

D I S C L A I M E R
 
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