VANCOUVER, BRITISH COLUMBIA, March 16th, 2023 – SORRENTO RESOURCES LTD. (the
“Company”) (CSE: “SRS”) is pleased to announce that it has signed a contract to engage Longford Exploration Services Ltd. of Vancouver, BC to perform exploration work on the Wing Pond Project (The “Project” or “Property”) in Newfoundland.
The work program will comprise of two phases and build upon the high resolution airborne magnetic survey flown by the company in 2022, and the available government geochemical datasets. Phase 1 of the program will include data compilation, remote sensing, and a lithostructural interpretation. This will provide high-level data sets for the breadth of the Property and help to identify prospective structures and/or areas of alteration. Phase 2 will involve field reconnaissance exploration and prospecting, field mapping, rock and soil sampling, and geochemical analysis. This phase will follow up on the targets generated from Phase 1 by systematically covering the target areas and performing geological mapping, rock sampling, and geochemical sampling to identify areas of mineralization. Phase 1 is expected to commence immediately and is anticipated to take 1-2 months. The length of time for Phase 1 is dependent on the availability of the contractors obtaining and analyzing the remote sensing data.
“We are excited to be off to a strong start on the Wing Pond Project. The engagement of the Longford Exploration team and the Phase 1 work will allow us to be ready for the start of the field season with targets generated to follow up on with prospecting, geochemical sampling, and grab sampling.” Stated Brayden R. Sutton, CEO.
The Wing Pond Project is located approximately 40km east-northeast of Gander, Newfoundland and covers ~11,550ha. The Property is accessible by road from the town of Gander via a network of forestry service trails and ATV/snowmobile routes that are established across the property. The company completed a high-resolution helicopter-borne tri-axial-magnetic gradiometer survey over the Wing Pond Project in March, 2022. This dataset will be integrated with the remote sensing imagery collected in Phase 1 to aid in the lithostructural interpretation.
The Wing Pond Property comprises a camp scale gold exploration opportunity in eastern Newfoundland and is an under explored early-stage exploration project that warrants further exploration based on the favorable structural setting and proximity to the Wing Pond Shear Zone.
The technical information contained in this news release has been reviewed and approved by Mr. Garry Clark, P.Geo., a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
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 and to conduct its exploration program on 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
Brayden R. Sutton
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 Project acquisition bringing a low-risk opportunity to drive significant value to the Company, the Company building a portfolio of strong properties that will continue to deliver shareholder value and the Company continuing to build a robust and diverse critical minerals portfolio of projects are “forward-looking statements”. Forward-looking statements in this news release include, but are not limited to, statements with respect to the Project and its mineralization potential; the Company’s objectives, goals or future plans with respect to the Project; the commencement of drilling or exploration programs in the future and their expected completion dates. 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.
The Canadian Securities Exchange (CSE) does not accept responsibility for the adequacy or accuracy of this release.
THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED NOR DISAPPROVED THE CONTENT OF THIS PRESS RELEASE.