VANCOUVER, BC – November 07, 2023 – Sorrento Resources Ltd. (the “Company”) (CSE:SRS), (OTC:SRSLF) is pleased to announce that it has received analytical results from the prospecting program completed on the PEG Lithium Property (the “Property”) in Central Newfoundland as previously announced on September 19, 2023.
The presence of fertile granite has been confirmed on the Property. Fertile granites have elevated rare element contents, Mg/Li ratios <10, and Nb/Ta ratio <8 (Selway, 2005). These ratios are also used to determine the degree of fractionation of the melt and area useful vectors LCT Pegmatite exploration. An area of high fractionation has been defined on the Property that is approximately 1.5km in width and 3km in length and is open along strike to the southwest (Figure 1). This area contains mapped pegmatite dikes that are highly fractionated which is an indicator that this area is prospective for Lithium-Cesium-Tantalum (“LCT”) mineralization.
The highest value returned from the program was 0.16% Li2O, taken from close proximity to the known Snowshoe Pond Lithium Occurrence. However, 71 samples collected returned >0.01% Li2O, which is considered anomalous, and fall within the defined fractionation corridor which is believed to be the metasomatic alteration halo.
“The fact that we have identified a fractionation corridor that is up to 1.5km in width and a current defined strike length of ~3km is a great start to the exploration efforts on the PEG Lithium Property.” Stated Brayden Sutton, CEO.
All samples were analyzed at AGAT Laboratories in Calgary, AB using Sodium Peroxide Fusion with ICP-OES and ICP-MS Finish (201-378). AGAT Laboratories is accredited to ISO/IEC 17025:2017 standards and certified to ISO 9001:2015 standards.
The Company will continue analysis of the field data collected which will be integrated with historical data sets to determine the next phase of follow-up work on the Property.
The Property is located approximately 45km south of Millertown and consists of one mineral license covering an approximate area of 4,525 ha. The mineral licenses are 100% held by Sorrento Resources Ltd. Access to the Property is via a well-maintained road connecting Millertown with the NALCOR hydroelectric facility at Granite Lake.
The technical information contained in this news release has been reviewed and approved by Dean Fraser, P.Geo., a “Qualified Person” as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects.
Selway, F. Breaks, A. Tindle, 2005; A Review of Rare-Element (Li-Cs-Ta) Pegmatite Exploration Techniques for the Superior Province, Canada, and Large Worldwide Tantalum Deposits. Exploration and Mining Geology. Vol 14. Nos. 1-4pp. 1-30, 2006 Canadian Institute of Mining, Metallurgy, and Petroleum.
Figure 1: Fractionation corridor defined on the Property.
About the Company
The Company is engaged in acquisition, exploration, and development of mineral property assets in Canada. The Company’s objective is to locate and develop economic precious and base metal properties of merit including the Wing Pond Property. The Wing Pond Property is located roughly 40 km east-northeast of Gander, Newfoundland, Canada, in Central Newfoundland.
For more information, visit https://sorrentoresources.ca/.
ON BEHALF OF THE BOARD OF DIRECTORS
President and Chief Executive Officer
Disclaimer for Forward-Looking Information
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the anticipated results of the prospecting program at the Peg Property are “forward-looking statements”. Forward-looking statements in this news release include, but are not limited to, statements with respect to the Property and its mineralization potential; the Company’s objectives, goals or future plans with respect to the Property and the timing of results. These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
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