Welcome to our dedicated page for NEWPATH RES news (Ticker: RDYFF), a resource for investors and traders seeking the latest updates and insights on NEWPATH RES stock.
Newpath Resources Inc. (RDYFF) is a Canadian exploration company engaged in critical metal exploration projects in Northern Ontario. The company has made significant progress in its lithium exploration program on the Alpha/Bravo Project, identifying highly fractionated pegmatites indicating potential lithium-rich mineralization. Newpath's focus on lithium-cesium-tantalum (LCT) pegmatites is supported by positive geochemical results from whole rock samples and Laser Induced Breakdown Spectroscopy (LIBS) analyses of lithium indicator minerals. The company's recent receipt of an Ontario Junior Exploration Program grant further highlights its commitment to advancing exploration efforts. Newpath aims to continue exploring target areas to uncover potential spodumene bearing pegmatites, contributing to Ontario's critical mineral supply chain.
Newpath Resources (CSE: PATH, OTC: RDYFF) has entered into a Letter of Intent (LOI) with Great Eagle Gold Corp. for the sale of its Northshore Gold Project in Ontario. The total purchase price is set at CDN$1,000,000, structured as $10,000 for due diligence, $90,000 upon definitive agreement execution, and $900,000 within the first anniversary.
The deal includes a purchase price adjustment mechanism based on gold price changes and a 1.5% NSR royalty for Newpath. Great Eagle plans to tokenize the gold resource through NatGold Digital 's digital asset platform. The proceeds will be used to address Newpath's convertible debt, which is currently in default conditions. The company will initiate debt holder discussions by mid-February.
The Northshore Gold Project consists of patented claims covering 210 hectares in Priske Township, located 4 km south of Schreiber, Ontario.
Newpath Resources (CSE: PATH, OTC: RDYFF) has announced its annual general meeting scheduled for January 10, 2025, at 10:00 a.m. (PST) in Vancouver. Due to the Canada Post strike, meeting materials are available online via SEDAR+ and the company's website. Shareholders can vote through Odyssey Trust Company's online platform by January 8, 2025.
The company also announced strategic changes to its Orefield property, reducing the Alpha/Bravo Claim Group to focus on approximately 458 square kilometers in the southern areas, which contain high-priority LCT pegmatite targets including the Hilltop Target Area. Additionally, Newpath will allow the Charlie claim group of 112 claims to lapse.
Newpath Resources Inc. (CSE: PATH) (FSE: 0MZ) (OTC PINK: RDYFF) announces mobilization of a prospecting field crew to its Alpha/Bravo Project on October 7, 2024. The company will focus on priority target areas identified during the 2023 exploration program, which yielded results consistent with fertile granites, beryl type and spodumene subtype pegmatites. Key highlights include:
- Identification of three new target areas with peraluminous, potentially fertile granite occurrences
- Positive indicators from geochemical analyses and LIBS scans of lithium indicator minerals
- Strategic location between Thunder Bay and Nipigon, Ontario with road accessibility
Additionally, Newpath has extended the expiry date of 1,002,500 outstanding warrants by one year to October 6, 2025. The company also acknowledges its commitment to fostering relationships with Indigenous communities in the project area.