- Newfoundland Discovery (CSE:NEWD) has acquired the Volstone Project in Ontario through a strategic internal staking
- The project includes 266 mineral claims and is close to Pegmatite One’s Frazer Mound Property
- The Voltstone property is in a position to stand alongside lithium discoveries within Ontario’s renowned lithium belt
- Shares of Newfoundland Discovery are up 14.29 per cent to C$0.40 as of 10:53 a.m. ET
Newfoundland Discovery (CSE:NEWD) is expanding its land holdings in Ontario thanks to the acquisition of the Volstone Project.
In a news release, the Toronto-based company said the acquisition, which includes 266 mineral claims, is less than 10 kilometres from Pegmatite One Lithium and Gold’s (CSE:PGA) Frazer Mound Property that is considered a significant lithium discovery.
“This isn’t merely another acquisition. It’s our stake in the rapidly evolving Canadian lithium market. Initial evaluations of the Voltstone Project are promising, and we’re preparing for an extensive exploration phase,” Jeremy Prinsen, CEO of Newfoundland Discovery, said in a statement. “As the global focus shifts to sustainable energy, the crucial role of lithium becomes undeniably evident.”
Newfoundland Discovery’s acquisition of the Volstone property puts it strategically located near other notable lithium companies with properties in Ontario, including Ultra Lithium (TSXV:ULT), Rock Tech Lithium (TSXV:RCK), Newpath Resources (CSE:PATH), Imagine Lithium (TSXV:ILI), Clean Air Metals (TSXV:AIR) and the aforementioned Pegmatite One Lithium.
Newfoundland Discovery is now planning for its first exploration program at the Volstone Property with the intention of targeting potential mineralized zones and future exploration activities.
Newfoundland Discovery is focused on the exploration and development of mineral assets in active Canadian mining districts, including its lithium prospects in the Hearst, Ontario, district, precious and base metal projects in Newfoundland, and a strategic early-mover foothold on projects in the Detour Lake Gold Mine district of Ontario.
Shares of Newfoundland Discovery are up 14.29 per cent to C$0.40 as of 10:53 a.m. ET.
Join the discussion: Find out what everybody’s saying about public companies and hot topics about stocks at Stockhouse’s stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.