Mr. Brayden Sutton reports
SORRENTO RESOURCES EXPANDS COPPER-GOLD LORD BARON PROJECT, NEWFOUNDLAND
Sorrento Resources Ltd. has staked an additional two mineral licences covering 750 hectares (ha) adjacent to its 100-per-cent-owned Lord Baron copper-gold project in Newfoundland. The new licences significantly grows 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;
- Majority of the new licences remain underexplored and provide opportunity for new grassroots discoveries;
- Five documented mineral occurrences on the newly acquired claims;
- Three historic shafts;
- Two areas where minor amounts (less than 25 tonnes) of massive sulphide ore was extracted.
About the Lord Baron project
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 work force, several diamond drilling contractors, a National Instrument 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 licences made up of 256 individual claims for an area of 6,400 ha. 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 kilometre than any other group of rocks in Newfoundland. The showings typically occur in an envelope of chlorite schist.
Management commentary
Alex Bugden, PGeo, 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 landholders 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."
Shares for services
In other news, the company has agreed to issue an aggregate of 25,000 common shares to Axiom Exploration Group Ltd. as additional compensation pursuant to the terms of a claims management services agreement previously entered into between the parties. The shares, when issued, will be subject to a four-month-and-one-day resale restriction in accordance with the policies of the Canadian Securities Exchange.
Qualified person
Mr. Bugden, PGeo, a qualified person in accordance with National Instrument 43-101, has reviewed and approved the technical information contained in this press release.
About Sorrento Resources Ltd.
Sorrento Resources is engaged in acquisition, exploration and development of mineral property assets in Canada.
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