Source: Newfoundland Discovery Corp.
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  • Newfoundland Discovery Corp. (NEWD) has acquired all issued and outstanding securities of 1000377311 Ontario Inc., sole owner of the Sugaree property
  • The Sugaree property is a 23.7-sq. km. mineral lithium exploration property made up of 340 claims located in the Quetico Subprovince located 15 km south of Hearst, Ontario
  • The claims demonstrate preferred geologic environments with S-type granitoids and pegmatites hosted by metamorphosed sediments (paragneiss) and metavolcanics
  • Newfoundland Discovery Corp. (NEWD) was up 6.25 per cent, trading at $0.085 at 4 pm ET

Newfoundland Discovery Corp. (NEWD) has acquired all issued and outstanding securities of 1000377311 Ontario Inc., the sole owner of the Sugaree property.

The Sugaree property is a 23.7-sq. km. mineral lithium exploration property made up of 340 claims located in the Quetico Subprovince located 15 km south of Hearst, Ontario.

The claims demonstrate preferred geologic environments with S-type granitoids and pegmatites hosted by metamorphosed sediments (paragneiss) and metavolcanics.

Situated next to Brunswick Exploration’s (TSX:BRW) newly staked ground, the property contains both a spodumene and a lepidolite (lithium-rich mica) zone. The company noted a high potential for additional discoveries in our newly consolidated land package.

According to the agreements, the company paid Ontario Inc. shareholders $20,000 and issued 32,000,000 common shares.

Newfoundland Discovery Corp. (NEWD) is a Canadian junior mining exploration company focused on exploration and development along the Detour Gold trend in Quebec and the Central Gold Belt in Newfoundland and Labrador.

Newfoundland Discovery Corp. (NEWD) was up 6.25 per cent, trading at $0.085 at 4 pm ET.


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