Vancouver, British Columbia--(Newsfile Corp. - March 5, 2024) - Newpath Resources Inc. (CSE: PATH) (FSE: 0MZ) (OTC PINK: RDYFF) ("Newpath" or the "Company") is pleased to provide the following update in response to shareholder enquiries regarding drill results from Metal Energy Corp.'s ("Metal Energy") Source Rock Lithium Brine Project.
- Newpath's Alpha/Bravo Project is located immediately south and contiguous to Metal Energy's Source Rock Lithium Brine Project (See map below).
- Historic drilling on both projects encountered strong evidence of distinct evaporite bedforms (salt, gypsum) in the basal Pass Lake Member of the Proterozoic Sibley Group, often associated with higher clay content.
- Also noted was another interval of salty brine laden "sandstone" higher in the Sibley Group.
- Both units could be identified in airborne and ground electromagnetic surveys, though most often in hindsight, and were never targeted. Formational waters were left un-analysed and cored Pass Lake rocks incompletely or not sampled.
- Based upon limited, scattered historic drilling at Alpha/Bravo the depth from surface to the Pass Lake member is up to 325 metres.
- Lake sediment samples in the area are notably anomalous in lithium, the cause of which is not known.
During the 2023 field season, Newpath conducted exploration for lithium-bearing pegmatites south and west of the Sibley sedimentary cover.
Historical Perspective
Mineral exploration in this part of Ontario area dates to the late 19th century when silver was discovered in veins along the shores and on islands of Lake Superior. Next came amethyst, now the official gemstone of the province of Ontario, found in veins along with lesser amounts of lead, silver and rarely, uranium mineralization. Amethyst mining is on-going in the region, and new occurrences are still being discovered, including at Alpha/Bravo. Geological studies reported in 1931 both defined the Sibley Group, recognized it distinctive mineralization, and noted the numerous salt licks and saline springs in the region.
Several waves of uranium exploration in the 1970's through into the mid-2000's focused in on Alpha/Bravo and adjoining claims. This was driven by geological similarities between the Proterozoic geology of the Sibley Group/ Silver Islet area and the Athabasca Group/Uranium City and the Hornby Group/Port Radium regions as well as other productive belts in Africa, Australia, and Asia. Historical exploration followed procedures and techniques that were developed in the Athabasca Basin and remain the standard approach today- Detailed electromagnetic and magnetic surveys, sensitive gravity measurements and survey-controlled or directional core drilling was undertaken. Though uranium mineralization was encountered in the underlying Quetico nothing of major economic interest was found. Exploration interest flagged and dollars disappeared.
However, drill geologists noted that certain intervals of the drill cores tasted salty and it was postulated that the Sibley Basin hosted saline brines and perhaps preserved beds of salt and gypsum. In hindsight, workers re-examined the electromagnetic surveys and realized that there were conductive domains that were best explained by layers of intraformational brine, preserved undisturbed for over a billion years.
Geological reconstructions suggest that the host rocks were derived from erosion of pre-existing rocks to the north, east and west, geological terranes known to host deposits of lithium in granitic LCT pegmatites. As proposed in several lithium producing regions of the world, they may owe their lithium endowment to the movement of hydrothermal waters that leach alkali metals, taking them into solution and then becoming trapped in adjacent sedimentary basins.
Historical interpretations of the electromagnetic surveys suggest that Alpha/Bravo covers a significant portion of the possible "brine field", sharing this anomaly with adjoining properties. Newpath remains attentive to continuing developments, including the brine potential, but also uranium, given the current resurgence of interest in secure sources of uranium that is being accompanied by rising spot prices for uranium.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7393/200423_89d5bd3f64162843_001full.jpg
Newpath's Alpha/Bravo Project covers 640 square kilometers of prime exploration ground situated north of Lake Superior, 45 km northeast of Thunder Bay, Ontario. The property is transected by electrical power transmission lines, a natural gas pipeline and a network of forestry roads accessed by a four-lane divided highway on the south and a paved secondary highway on the west.
The information presented in this news release is based on information documented in assessment reports filed with the Ontario Ministry of Mines. The Company has not independently verified this historical information.
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 our Alpha/Bravo project is on the traditional territories of many Nations including Biinjitiwaabik Zaaging Anishinaabek, Fort William First Nation, Kiashke Zaaging Anishinaabek, Red Rock Indian Band, the Metis Nation of Ontario and Red Sky Metis 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 wellbeing for Indigenous communities for generations to come.
About Newpath Resources Inc.
Newpath is a Canadian exploration company listed on the Canadian Securities Exchange under the symbol PATH. Newpath's early-stage Orefield critical metal exploration project, which is composed of three claim groups (Alpha Bravo, Charlie and Delta), totals 3,180 claim units covering approximately 67,448 hectares (approximately 674 square kilometres) west and southwest of Lake Nipigon in Northern Ontario. The company also wholly owns the Northshore gold project located in the Schreiber-Hemlo greenstone belt.
On Behalf of the Company,
NEWPATH RESOURCES INC.
"Alexander McAulay"
Chief Executive Officer
Email: amcaulay@newpathresource.com
CEO Direct Line: +1 (604) 365-0425
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.
Cautionary Statement Regarding Forward-Looking Information
This news release may contain certain "forward-looking information". Forward-looking information included in this news release includes, but is not limited to, statements with respect to the exploration work on the Alpha/BravoProject. Forward-looking information is based upon the assumptions and estimates considered reasonable by management of the Company as of the date such statements are made. Forward-looking information involves known and unknown risks, uncertainties, assumptions, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the effectiveness and feasibility of lithium extraction technologies on a commercial scale , and other factors that may cause the 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. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. As a result, readers are cautioned not to place undue reliance on any forward-looking information. Any statement containing forward looking information speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/200423
SOURCE: Newpath Resources Inc.
