Business
Sorrento Resources to Acquire Newfoundland Lithium and Precious Metals Projects from Gold Hunter Resources
VANCOUVER, BRITISH COLUMBIA – TheNewswire - June 6, 2023 – SORRENTO RESOURCES LTD. (the “Company”) (CSE:SRS) is pleased to announce it has entered into a minera
About this update from Sorrento Resources Ltd.
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA – TheNewswire - June 6, 2023 – SORRENTO RESOURCES LTD. (the “Company”) (CSE:SRS) is pleased to announce it has entered into a mineral property purchase agreement dated June 5, 2023, pursuant to which the Company will acquire from Gold Hunter Resources Inc. (“Gold Hunter”) (CSE.HUNT) a 100% interest in a portion of the claims comprising PEG Lithium property, Harmsworth and Tom Joe properties, as well as three properties along the Doucers Valley Fault, all located in the Province of Newfoundland and Labrador (the “Properties”). The predominance of the properties are gold focused and compliment Sorrento’s Wing Pond property, and the addition of the PEG property which is prospective for Pegmatite hosted Lithium and is road accessible. CEO Brayden Sutton states: “we are delighted with the acquisition of these Newfoundland projects. In particular the PEG property is the only recorded Lithium showing in Newfoundland. The Snowshoe Lithium Pegmatite showing is largely unexplored with little sampling previously completed. This represents a fantastic opportunity to discover potential lithium pegmatites in the heart of Newfoundland. Additionally, the Harmsworth show promise for VHMS potential within some of the most prospective VMS host rocks in Newfoundland”. Central Newfoundland Property Description: PEG PROPERTY: (4525 ha: 4 Licenses, 181 Claims), Location: Central Newfoundland, access: By road (222 km SW of Gander) Commodities: Lithium (REE), deposit potential: Pegmatite Hosted Lithium (& REE). Status: Mineral showing, Prospect development. Historical reports indicate: \"Anomalous lithium values up to 399.4 ppm were obtained from samples of coarse-grained pegmatite containing light green coloured muscovite. The light green colour suggests that it may be lithium bearing.\" HARMSWORTH: (1,250 ha: 1 License, 50 Claims), Location: Central Newfoundland, access: By road (211 km SW of Gander) Commodities: Gold and Silver, deposit potential: Volcanogenic Hosted Massive Sulfides (VHMS). Status: Early-stage exploration opportunity. 2022 reconnaissance and prospecting discovered favorable indications of VHMS mineralization on the property – the property has been recently (circa 2021) clear cut with abundant freshly exposed outcrops. TOM JOE: (2,300 ha: 3 Licenses, 92 Claims), Location: Central Newfoundland, access: ...