Canadian exploration company Sorrento Resources has announced the expansion of its Lord Baron Copper-Gold Project in Newfoundland by staking an additional two mineral licenses covering 750ha.
The move increases the project’s total land package to 6,400ha.
The new licences acquired by Sorrento Resources are largely underexplored, presenting opportunities for grassroots discoveries.
Sorrento said the there are five documented mineral occurrences and three historic shafts within these claims. Additionally, two areas have been identified where small quantities of massive sulphide ore were previously extracted.
Situated near the towns of Springdale, Little Bay and Beachside, the Lord Baron Project now comprises 15 mineral licenses with 256 individual claims.
The area is characterised by the Lushs Bight Group rocks of the Dunnage Zone, which are known for their high density of base metal sulphide showings.
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Sorrento Resources director and qualified person Alex Bugden said: “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.”
Furthermore, Sorrento has agreed to issue 25,000 common shares to Axiom Exploration Group as part of a claims management services agreement.
These shares will be subject to a four-month resale restriction in compliance with Canadian Securities Exchange policies.
In June 2024, Sorrento signed three purchase agreements to acquire a 100% undivided interest in the mineral licences of the Lord Baron Project in Newfoundland and Labrador.
