Vancouver, British Columbia–(Newsfile Corp. – March 28, 2023) – Newpath Resources Inc. (CSE: PATH) (FSE: 0MZ) (OTC PINK: RDYFF) (“Newpath” or the “Company”) is pleased to announce that is has staked additional ground, expanding the size of its Alpha/Bravo Claim Group, the largest of three claim groups that comprise the Company’s Orefield Project. The new claims were acquired on behalf of and are 100% owned by Newpath. The Orefield Project includes the Alpha/Bravo, Charlie and Delta claim groups and is comprised of 3,140 claim units covering an area 66,597 Ha* (approximately 666 square kilometres).
A total of 562 new claim units (11,946 Ha or approximately 120 sq. km.*) were registered between March 21 and March 23, 2023. All new claims are contiguous to the Company’s Alpha/Bravo Claim Group (see map below for new Alpha/Bravo Claim Group outline and Company’s news releases dated December 12, 2022, January 13 and February 14, 2023). With the addition of the new claims, the Alpha/Bravo Claim Group (the Project) covers a contiguous area of approximately 631 square kilometres*. The Project is easily accessed by the Trans-Canada Highway, secondary highways and a network of logging roads. It is favourably located, approximately 50 km northeast of Thunder Bay, Ontario, which has become a hub for Northwestern Ontario’s Critical Mineral Exploration and Mining industry.
Alex McAulay, the Company’s CEO commented “We are extremely pleased that we have been able to complete our land acquisition objective in this particular region. Much of the project area acquisition has been accomplished by strategically staking open ground covering prospective geological settings and contiguous to the ground we optioned in December of 2022. Given the current frenzy for Critical Minerals Projects in Ontario, and in particular within the Quetico Subprovince, our technical team researched and focussed on under-explored areas that had the right geological and structural setting for hosting LCT pegmatites. As a result, we have acquired a project of significant size while minimizing our acquisition costs. There was significant competition in the areas we recently staked, but we have acquired what we feel is highly prospective ground for a fraction of the cost of optioning the ground”.
The Project covers a geological and structural setting favourable for hosting fertile peraluminous granites and associated LCT (Lithium, Cesium, Tantalum) pegmatites within the Quetico Subprovince of the Archean Superior Province. The Project is situated on the western side of the Nipigon Rift Basin and Proterozoic Sibley Group sedimentary rocks that overlie a rifted, down-dropped segment of the Quetico Subprovince. Midcontinent Rift-related intrusive rocks that host many of the advanced PGM projects in the immediate area, also overlie portions of the Project. The Quetico Subprovince has been the focus of much of the Critical Mineral exploration activity in Ontario and is host to many early-stage and a number of advanced Lithium projects on the eastern side of the Nipigon Rift Basin including Rock Tech Lithium’s Georgia Lake Project, (indicated & inferred mineral resource of 14.8MT of Li2O1) and Imagine Lithium’s Jackpot Deposit, which has a historical resource of 2 MT of Li2O2. The Project is located approximately 65 km west of the Georgia Lake Project and 55 km west of the historic Jackpot Deposit. The Company has highlighted these advanced projects to demonstrate the potential of the Quetico Subprovince of Li bearing pegmatites and cautions readers that the Alpha/Bravo Project is an early stage, green fields exploration project and that the mineralization on nearby or adjacent properties does not necessarily indicate that any mineral resources may be discovered on the Project, or if discovered, that such resources would be economically recoverable.
In addition to the favourable geological and structural setting, the Company’s original acquisition of the Alpha/Bravo Claim Group and subsequent staking was based on the presence of highly anomalous Lithium, Cesium and REE (Rare Earth Elements) from a regional compilation of Lake Sediment surveys completed by the Ontario Geological Survey7 (See Map below). The mineral potential of this area has also been well documented by the excellent work completed in the area by the OGS including Breaks, Selway and Tindle, 20033, detailed mapping by Metsaranta and Walker, 20194 and Metsaranta, 20225&6.
Metsaranta and Walker’s work identified a potential fertile parent granite, the Voutilainen Intrusion and better defined the contacts of the peraluminous Hilma Lake Granite5. The Alpha/Bravo Claim Group, including the new staking, covers peraluminous granites including portions of the Hilma Lake Granite, eastern extension of the Voutilainen Intrusion and adjacent metasedimentary rocks (See Map below).
Key observations by Riku Metsaranta presented during The Ontario Geological Survey Showcase presentations in October of 2022 included;
– “Preliminary new lithogeochemistry indicates the presence of Beryllium (locally >360ppm), Niobium (up to 100ppm), Tantalum (up to 173ppm), enriched pegmatites and aplites along both the northern and southern margins of the Voutilainen Intrusion discontinuously over at least 20km.
– Abundant pegmatite dikes, sills and pods near the contact between Voutilainen intrusion and Hilma Lake granite should be prospected to determine if Li bearing pegmatite types locally occur.“ 6
The Company is currently compiling all available historic data for the Project and formulating an initial exploration program for the summer of 2023.
Qualified Person
The technical content of this news release has been reviewed and approved by Douglas S. Turnbull, P.Geo., the Company’s COO and a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
Acknowledgment of First Nations
Newpath Resources Inc. is committed to fostering lasting, transparent, trust-based relationships with the Indigenous communities where we operate. We respectfully acknowledge that we conduct business on the traditional territories of many Nations, including Biinjitiwaabik Zaaging Anishinaabek, Fort William First Nation, Kiashke Zaaging Anishinaabek, Red Rock Indian Band, Pays Plat First Nation, the Métis Nation of Ontario and Red Sky Métis Independent Nation. Newpath Resources recognizes the great privilege of conducting work on these lands and recognizes the accountability and commitment we owe to the communities who have resided here since time immemorial. Newpath shares a common interest in ensuring that the lands and waters will continue to provide cultural, environmental, and economic well-being for Indigenous communities for generations to come.
About Newpath Resources Inc.
Newpath Resources Inc. is a Canadian exploration company listed on the Canadian Securities Exchange under symbol PATH. The Company wholly-owns the Northshore Gold Project located in the Schreiber- Hemlo Greenstone Belt and its Orefield Project, which is comprised of three claim groups totalling 3,140 claim units covering 66,597 Ha* (approximately 666 square kilometres*) west and southwest of Lake Nipigon in Northern Ontario.
On Behalf of the Board of Directors,
NEWPATH RESOURCES INC.
“Alexander McAulay”
Chief Executive Officer
Email: amcaulay@newpathresource.com
CEO Direct Line: +1 (604) 365-0425
www.newpathresource.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Notes
* All project areas expressed as Hectares (Ha) or square kilometres (Km2) in this news release represent the area the Company has the right to explore.
References
1 – Technical Report, Georgia Lake Lithium Project Pre-Feasibility Study, Rock Tech Lithium Inc., AMC Mining Consultants (Canada) Ltd., October 1, 2022. www.rocktechlithium.com
2 – Imagine Lithium Jackpot Project Resource, 1956 by Ontario Lithium Company Limited. www.imaginelithium.com
3 – Breaks, F.W., Selway, J.B. and Tindle, A.G. 2003. Fertile peraluminous granites and related rare-element mineralization in pegmatites, Superior Province, northwest and northeast Ontario: Operation Treasure Hunt; Ontario Geological Survey, Open File Report 6099, 179p.
4 – Metsaranta, R.T. and Walker, J.A. 2019. Precambrian geology of western McGregor Township and adjacent areas, northeast of Thunder Bay; in Summary of Field Work and Other Activities, 2019, Ontario Geological Survey, Open File Report 6360, p.11-1 to 11-10.
5 – Metsaranta, R.T. 2022. Highlights of Bedrock Geology Mapping in the Quetico Subprovince, North of Thunder Bay, Northwestern Ontario; in Summary of Field Work and Other Activities, 2022; Ontario Geological Survey, Open File Report 6390, p. 9-1 to 9-9.
6 – Metsaranta, R.T. 2022. Preliminary Results of Bedrock Geology Mapping of the Quetico Subprovince, Shebandowan Greenstone Belt and Midcontinent Rift north of Thunder Bay. Ontario Geological Survey Virtual showcase, October 25, 2023, online presentation.
7 – Ontario Geological Survey 2020. Lake Geochemistry of Ontario-2019; Ontario Geological Survey, Lake Geochemistry of Ontario-2019, online database.
8– Ontario Geological Survey 2011. 1:250 000 scale bedrock geology of Ontario; Ontario Geological Survey, Miscellaneous Release-Data 126 – Revision 1, online database.
Cautionary Statement Regarding Forward-Looking Information
This news release contains forward-looking information and statements, which involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements of the Company to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking information and statements. Forward-looking information and statements contained in this news release are based on the beliefs, estimates, and opinions of management of the Company as of the date the information is released and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws. Investors are cautioned that forward-looking statements are not guarantees of future performance and accordingly, investors should not put undue reliance on forward-looking statements due to the inherent uncertainty therein.
