St. Anthony Gold Pursues Acquisition and Advancements of Assets Battery Metals and Minerals Sector

Rhea-AI Summary

St. Anthony Gold Corp. (CSE:STAG)(OTC PINK:MTEHF) announced plans to acquire the Burgeo Lithium asset in Newfoundland, aiming to enter the battery metals and materials sector. The project encompasses two mineral exploration licenses covering 5,200 hectares, with potential for lithium, molybdenum, and other rare metals. The company also reported promising assay results, with lithium grades reaching up to 2.37% Li2O. St. Anthony intends to pursue further acquisitions in prime global jurisdictions and continue investing in previous precious metal assets.

Positive

• Acquisition of Burgeo Lithium asset indicates strategic shift to battery metals sector.
• Potential for lithium and other rare metals enhances future revenue prospects.
• Recent assay results show high lithium grades, indicating strong mineral potential.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / September 26, 2022 / St. Anthony Gold Corp. ("St. Anthony" or "the Company") (CSE:STAG)(Frankfurt:M1N)(OTC PINK:MTEHF) is pleased to announce that it is pursuing the acquisition and advancement of assets in the battery metal and materials sector.

STAG currently has the option to acquire 100% interest in the Burgeo Lithium asset located in Burgeo Newfoundland.

The Burgeo Lithium project consists of two mineral exploration licences containing 142 and 66 claims, respectively over 5,200 hectares.

• The two licences are located approximately 20 kilometres and 7 kilometres respectively, northeast of the small town of Burgeo on the south coast of Newfoundland.
• The evolving deposit model examines radiating pegmatite dykes from the core of the Burgeo and Chetwynd granites. The model being applied on their Grey River area Kraken lithium project by the Sokoman Minerals and Benton Resources join venture is based on analogues with deposits in the Carolinas in the eastern USA and the Caledonides of Ireland.
• Government mapping in 1985 suggested the Chetwynd Granite has potential for economic concentrations of F-Sn-W-Mo and U.
• The property has potential for lithium, molybdenum, fluorite, tin, tungsten, uranium, tantalum, and other rare metals.

Regional projects include:

• Grey River tungsten prospect with tungsten-quartz, wolframite and scheelite with chalcopyrite, native bismuth, fluorite, and silver-bearing minerals are also present.
• Gold and lead occurrences are also present in this area under licence predominantly to the Sokoman Minerals and Benton Resources joint venture.
• First 2022 assay results from the reconnaissance drilling program, testing the Kraken pegmatite field on the 8.4 metre pegmatite dyke averaged 0.95% Li2O with grades hitting a high of 1.76% Li2O
• Previous grab samples on the Kraken Lithium Prospect returned grades up to 2.37% Li2O.

The Company is actively negotiating further acquisitions in the battery metal and materials sector. The target assets are in key global jurisdictions, and it anticipates successful closure in the near term.

Additionally, the Company intends to maintain and or increase investment in past precious metal assets; however, the Company intends to pursue future acquisitions solely in the battery metal and materials sector.

FOR ADDITIONAL INFORMATION SEE THE COMPANY'S WEB SITE AT

https://stanthonygoldcorp.com
Email to info@stanthonygoldcorp.com
Contact: Peter Wilson CEO - 604-649-0945

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Further information about the Company is available on www.SEDAR.com under the Company's profile.

SOURCE: St. Anthony Gold Corp.

View source version on accesswire.com:
https://www.accesswire.com/717392/St-Anthony-Gold-Pursues-Acquisition-and-Advancements-of-Assets-Battery-Metals-and-Minerals-Sector

FAQ

What is the Burgeo Lithium asset acquisition by St. Anthony Gold?

St. Anthony Gold is acquiring the Burgeo Lithium asset in Newfoundland, which includes two mineral exploration licenses over 5,200 hectares targeting lithium and other rare metals.

What potential does the Burgeo Lithium project have?

The Burgeo Lithium project has potential for lithium, molybdenum, fluorite, tin, tungsten, uranium, tantalum, and other rare metals based on government mapping and regional geology.

What were the assay results from the Kraken pegmatite field?

The first 2022 assay results from the Kraken pegmatite field averaged 0.95% Li2O, with grades reaching a high of 1.76% Li2O.

What is St. Anthony Gold's strategy regarding future acquisitions?

St. Anthony Gold plans to focus on acquiring assets in the battery metal and materials sector while maintaining investments in previous precious metal assets.

What are the key features of the Burgeo Lithium project?

The Burgeo Lithium project consists of two licenses located northeast of Burgeo, with potential for economic concentrations of several valuable minerals, including lithium.