Caprock Mining Corp. announce high-grade lithium assay results from samples obtained during a recently concluded prospecting and sampling program on the eastern-most claim block (the “Main Claim Block“) at its Ackley Lithium-Tin-Molybdenum-REEs property (“Ackley“, or the “Property“) located in south-eastern Newfoundland, for which the Company has an option to acquire a 100% interest. Assay highlights from the sampling program are provided in Figure 1 below.
“Today’s assay results confirm our assessment that Ackley has the potential to host significant lithium mineralization. While these samples were obtained from in-situ zinnwaldite boulders and sub-crop during a first-pass prospecting program in a very small portion of the Main Block called the ‘Deer Pond‘ area, we are already starting to see the delineation of a mineralized trend within the greisened rock at Deer Pond. On the basis of these high-grade assays, Caprock’s technical team plans to continue its aggressive exploration of the Main Block in the coming weeks.”
Caprock’s CEO Mr. Vishal Gupta
Field observations indicate that the sampled zinnwaldite boulders and sub-crop occur in close proximity to the large greisen zone at Deer Pond, however the mineralization appears to be more spatially related to the fine-grained Devonian-aged Ackley granite. This provides Caprock’s technical team a prospective area spanning several square kilometres within the Main Block where additional lithium-bearing mineralization could be uncovered. The Company awaits additional confirmation of the zinnwaldite mineralization through detailed petrographic analysis of field samples. Highlighted sample locations are illustrated in Figure 2 below.
Procedures Utilized for Assay Analysis
The samples were submitted to the AGAT Laboratories Ltd. (AGAT) laboratory in St John’s, Newfoundland and internally couriered to the AGAT Mining Geochemistry Laboratory in Mississauga, Ontario for sample preparation and assay testing using Sodium Peroxide Fusion (lithium) with inductively coupled plasma – optical emission spectrometry (ICP-OES) and inductively coupled plasma – mass spectrometry (ICP-MS) finish for multi-element analysis. AGAT is independent of Caprock and is accredited to ISO/IEC 17025:2017 standards.
About the Ackley Property
Ackley comprises three claim blocks that collectively span an area of 4,550 hectares located less than two hours’ drive from St. John’s. The claim blocks overlie portions of the contact zone of a large Devonian-aged granite complex with Proterozoic metasediments and volcanics, parts of which are “greisened”, or hydrothermally altered, that is similar in age and lithology to the Mount Pleasant deposit in New Brunswick and the East Kemptville deposit in Nova Scotia. Limited historical exploration work across the Main Claim Block by companies including Esso Minerals, American Zinc, Inco and others, discovered occurrences and anomalies of lithium, tin, molybdenum, tungsten and REEs.
Recent magnetometer survey work over part of the Main Claim Block indicates that the altered contact zone may be extensive, covering several square kilometres. Recent limited prospect sampling and historical Esso trenches across the Main claim block returned assays of up to 0.91% lithium oxide, 5.0% molybdenum, 0.67% tin and 1-5% fluorine on surface. Newfoundland government survey maps of this region report some of the highest lake sediment values for REEs on the entire island.
About Caprock Mining Corp.
Caprock Mining Corp. is a Canadian mineral exploration company focused on exploring battery metals in Newfoundland and precious metals in Ontario.
The Company has an option to earn a 100% interest in the Ackley Lithium-Tin-Molybdenum-REEs property located on the Burin Peninsula in south-eastern Newfoundland. Additionally, the Company’s 100% interest in several gold exploration properties gives it a substantial landholding in the historical Beardmore-Geraldton Gold Belt (“BGB”) of Ontario – a belt that has produced over four million ounces of gold historically, and contains the world-class Greenstone gold project (formerly known as the Hardrock gold project) which is being brought to production by a joint venture partnership between Equinox Gold (TSX: EQX) and Orion Mine Finance.
With an experienced management team that has a strong exploration pedigree, Caprock is poised to generate incremental shareholder value by advancing its portfolio of highly prospective exploration projects.
The scientific and technical information disclosed in this release has been reviewed and approved by Mr. Vishal Gupta, the Company’s President & CEO. Mr. Gupta is a P.Geo. registered with the Professional Geoscientists of Ontario (PGO), and a. “qualified person” as defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects.
For More Information
Please contact:
Vishal Gupta
President & CEO
Tel.: (647) 466-0506
E-Mail: [email protected]
