Many Peaks Gold granted new mineral licences to expand critical minerals exploration ground in Newfoundland

Emerging mineral exploration company Many Peaks Gold (ASX:MPG) has been granted 6 new mineral licences covering 151km-square referred to as the Aska Lithium Project in southeast Newfoundland, Canada.

Many Peaks Gold says the 6 mineral licences cover ‘extensive’ outcropping pegmatites in an emerging lithium district, and are located in the same Canadian province as the recently acquired Odyssey rare earth element (REE) project. The licences are also located within the same belt of intrusions which hosts the Avalon lithium deposit in Ireland, and the Piedmont and Kings Mountain lithium deposits in the eastern US. 

The company says early stage reconnaissance site visits have confirmed pegmatites hosted in both S-Type granites and pegmatite dykes that extend into adjacent metamorphic host rocks associated with caesium (Cs) and tantalum (Ta) anomalism in regional scale datasets.  

Many Peaks Gold adds it is planning field programs to better define the metallogenic zonation of the pegmatite field within the project. It will comprise reconnaissance mapping and rock chip sampling supported by interpretation of various satellite imagery datasets. 

In addition, a further expansion of the company’s exposure into the burgeoning critical minerals sector following its most recent acquisition of the Odyssey REE project in Labrador, Canada. 

Many Peaks Gold also reports it has contracted Sans Peur Exploration Services (SPE) to undertake a technical review of pegmatite rich areas in this favourable Dunnage Gander zone in order to provide recommendations to the company of areas with LCT pegmatite potential for exploration. 

Addressing the inclusion of the Aska project, Many Peaks Gold Executive Chairman Travis Schwertfeger says: “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. 

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.

“MPG believes this corridor in Newfoundland represents an emerging district for highly demanded lithium oxide and lithium carbonate products…”

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.”

The company also notes the segment of the intrusion belt across Newfoundland, which was formed prior to the opening of the Atlantic rift, is host to multiple pegmatite fields with several beryllium and lithium occurrences, however exploration for lithium is in its infancy.

Many Peaks Gold is an ASX-listed mineral exploration company focused on a portfolio of mineral exploration assets to underpin growth and provide ‘exceptional’ opportunities for the company with a focus on adding value through cost effective minerals exploration and discovery. 

The company’s recently granted, 100%-owned Aska project comprises a 151km-square contiguous land position within terrain hosting lithium-caesium-tantalum (LCT) type pegmatite occurrences. Lake sediment sampling results returned from the project have highlighted caesium and tantalum anomalism in the Aska pegmatite field bracketed by several beryllium and lithium occurrences along the Gander-Dunnage zone.  

Other projects included in the company’s exploration arsenal include the Mt Weary and Monal Gold Projects in Queensland, as well as the Odyssey REE project in Canada.   

Images: Many Peaks Gold Ltd
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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.