Many Peaks Gold Limited (ASX:MPG) has been granted six mineral licences located in southeast Newfoundland covering a 151sq.km area referred to as the Aska Lithium Project.
“The Avalonia Terrane hosting the Aska Project also hosts several high-grade lithium deposits along its extensions into Ireland and North Carolina where the same age of granites and their related pegmatites formed prior to the opening of the Atlantic Ocean,” Executive Chairman, Travis Schwertfeger, said.
“The Newfoundland segment of this tectonic terrane is an underexplored portion of this well-endowed corridor of intrusions and pegmatites. MPG believes this corridor in Newfoundland represents an emerging district for highly demanded lithium oxide and lithium carbonate products strategically positioned with access to both European and North American markets.”
“This opportunity to pair an early-stage lithium project of this high calibre with the Company’s recent acquisition of the high-grade Odyssey REE project fits well within our Company’s existing exploration strategy. This includes ensuring the Company has increased exposure to the critical minerals sector in tier one jurisdictions concurrent with advancing Queensland copper-gold and aligns with our ongoing business development strategy to develop a pipeline of projects that can add significant value through cost effective mineral exploration and discovery.”
The Aska Lithium Project is located in the same Canadian province as the recently optioned Odyssey REE project optioned by MPG.
Situated proximal to Newfoundland’s southern coast approximately 45km east of the town of Cape Ray, Aska is located in the same belt of intrusions as hosts the Avalon lithium deposit in Ireland, the Piedmont and Kings Mountain lithium deposits in the eastern United States.
Early-stage reconnaissance site visits confirm pegmatites hosted both in S-Type granites and pegmatite dikes extending into adjacent metamorphic host rocks associated with Ceasium and Tantalum anomalism in regional scale datasets.
Aska is host to an extensive pegmatite field situated within a tectonic terrane that is host to multiple lithium oxide deposits. The pegmatite intrusions identified are found cross cutting granite intrusions, predominantly associated with the Rose Blanche intrusion complex. Pegmatite dikes also extend outside of the granites which they are interpreted to have a formative association with and intrude into the surrounding schists and siliciclastic metamorphic rocks of the Harbour Le Cou Group.
Lake sediment sampling results compiled by the Newfoundland and Labrador Geological Survey highlight caesium and tantalum anomalism in the Aska Pegmatite field, and the targeted extent of the intrusion belt is bracketed by several beryllium and lithium occurrences along the Gander-Dunnage zone
The company is planning field programmes, including reconnaissance mapping and rock chip sampling supported by interpretation of various satellite imagery datasets to better define the metallogenic zonation of the pegmatite field within the Aska Lithium Project.
This exploration activity is anticipated to vector exploration activity into the targeted metalliferous zone(s) for lithium often referred to as the ‘Goldilocks zone’ where MPG will provide regular updates for results and follow-on exploration plans as they develop.
For further information please visit: https://manypeaks.com.au/