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Newfoundland Discovery Bolsters Position in Quetico Subprovince Lithium Belt with Newland Acquisition in Hearst District
Acquisition of Newlands Lithium Property Strengthens its Strategic Foothold, Offering Greater Opportunities for Exploration Resource Development in the Region T
About this update from Newfoundland Discovery Corp
[{"type":"text","content":" Acquisition of Newlands Lithium Property Strengthens its Strategic Foothold, Offering Greater Opportunities for Exploration Resource Development in the Region Toronto, Ontario--(Newsfile Corp. - April 3, 2023) - NEWFOUNDLAND DISCOVERY CORP. (CSE: NEWD) (OTC PINK: NEWDF) (FSE: M4K) (\"Newfoundland Discovery\" or \"NEWD\" or the \"Company\") is pleased to announce that the Company has entered into an option agreement (the \"Agreement\"), under which the Company has been granted the option to acquire a 100% interest in the Newlands Lithium Property (the \"Newlands\" or the \"Property\"), located in Hearst, Ontario. The property comprises of 11 claims (237 cells), spanning 4,962 hectares and is located 70 km southwest of Hearst, Ontario, featuring excellent highway and logging road access. This acquisition expands the Company's land holdings in the region from 10,000 hectares to nearly 15,000 hectares, all along the lithium-rich Quetico Subprovince belt. Figure 1: Regional Map of Newfoundland Discovery's three projects located on the Quetico Subprovince in Ontario, Canada Newlands Lithium Property Nestled in the Quetico Subprovince in northwestern Ontario, the Newlands Lithium Property is part of an area where numerous lithium deposits have been identified, hosting significant reserves of Li2O. The property is set within muscovite-bearing granitic rocks, a peraluminous S-type fertile parental granite (Breaks et al., 2003), and in contact with metasediments. Metasediments serve as excellent exo-contact hosts for fractionating parental fertile granites. The Company's expanded presence in the region situates Newfoundland Discovery in close proximity to several notable lithium deposits and projects, such as the Seymour Lake Lithium Project, the Georgia Lake pegmatite field, and the Separation Rapids Lithium deposit, among others. The Lowther pluton and surrounding metasediments host rare-element pegmatites currently being explored by Brunswick Exploration Inc., the critical mineral exploration subsidiary of Osisko. The Lowther pegmatite is a 45-metre-wide muscovite-pegmatite-biotite pegmatitic granite containing a lepidolite to spodumene subtype pegmatite and exhibiting very anomalous Cs, Rb, Nb, Sn, and Be (OGS). Figure 2: Map of Newfoundland Discovery's Sugaree and Newly Acquired Newlands projects located in the Hearst District...