Sorrento Resources enlarges Lord Baron Project, Newfoundland
Sorrento Resources Ltd. [CSE-SRS; OTCQB-SRSLF] is focused on the acquisition, exploration, and development of mineral projects in Atlantic Canada, reported that it has staked an additional two mineral licenses covering 750 hectares adjacent to its 100%-owned Lord Baron Copper-Gold Project in Newfoundland. The new licenses significantly grow the size of the project to 6,400 ha.
Highlights: The new licences significantly expand the total land package of the Project and further consolidates Sorrento Resources’ strategic land position over the Springdale district. The majority of the new licences remain underexplored and provide opportunity for new grass roots discoveries with five documented mineral occurrences on the newly acquired claims, three Historic shafts and two areas where minor amounts (<25tons) of massive sulphide ore was extracted.
The Lord Baron Project is located on the Springdale peninsula, Newfoundland and Labrador near the towns of Springdale, Little Bay, and Beachside. The region has a rich mining history and is host to a skilled workforce, several diamond drilling contractors, a NI-43-101 compliant assay lab, and mining equipment and parts suppliers. In addition, it is adjacent to deep water ports, industrial hydroelectric power supply, and is in proximity to the Nugget Pond mill.
The project, following the staking announced today, consists of 15 individual mineral licenses made up of 256 individual claims for an area of 6,400ha. The project is predominately underlain by rocks of the Lush’s Bight Group of the tectonostratigraphic Dunnage Zone of the Appalachian Orogen. The Lush’s Bight Group is a Cambro-Ordovician sequence of ophiolitic metavolcanic rocks representing a portion of the oceanic crust of the proto-Atlantic Ocean, the Iapetus Sea. The group has been metamorphosed to greenschist facies and has undergone extensive faulting related to the initial formation of oceanic crust as well as the Taconic and Acadian Orogenies.
The Lush’s Bight Group contains more base metal sulphide showings per square kilometer than any other group of rocks in Newfoundland. The showings typically occur in an envelope of chlorite schist.
Alex Bugden, P. Geo., Director and Qualified Person of Sorrento Resources, commented, “We are very excited to announce the expansion of the Lord Baron Project. This land acquisition makes Sorrento one of the largest land holders in the Springdale district and provides many new targets for exploration. The fact we were able to stake these claims ourselves also adds a lot of value to the project for very little cost”
In other news, the company has agreed to issue an aggregate of 25,000 common shares to Axiom Exploration Group Ltd. as additional compensation under the terms of a claims management services agreement previously entered into between the parties.
Sorrento’s objective is to locate and develop economic precious and base metal properties of merit including the Wing Pond, Tom Joe, Lord Baron projects, the PEG lithium project, and the Harmsworth (VMS) project – all located in Newfoundland.