Canadian Uranium & REE Projects

NewPeak Metals has recently acquired a high-grade Uranium and Rare Earth Elements (REE) project in Quebec and Labrador, Canada (refer ASX Release 15 July 2024). This expansive property spans 23,184 hectares and is fully owned by NewPeak through our Quebec-based subsidiary, NewPeak Metals (Canada) Ltd.

Financial Details:

  • NewPeak has issued $500,000 worth of shares at an issue price of 1.5 cents each for this acquisition.

  • The agreement includes a 2% net smelter royalty payable to the vendors, with options to buy out this royalty on future production.

Exploration Highlights:

  • Stewart Lake Project: This area of 12 km by 6 km shows four zones of anomalous Uranium mineralization. Notable results include high-grade Uranium concentrations of 0.8% U3O8 at Centurion Ridge and 0.46% U3O8 at Kogaluk Zone.

  • Nanuk Project: This 10 km by 4 km area has three zones of high Uranium anomalies, with results reaching up to 1.18% U3O8.

  • Crater Project: Located near the Misery Lake Deposit, this project has shown significant Rare Earth Oxides (TREO) and Scandium mineralization. Maximum values recorded are 23.9% TREO and 985 ppm Scandium.

  • Proximity to Key Sites: The property is close to Torngat Metals Inc.'s Strange Lake Rare Earth and Zircon Project and Vale’s Voisey Bay nickel mine.

Next Steps: Wayne Holmstead, a seasoned Canadian geologist who staked the ground, will lead exploration efforts, with objectives to move the project towards defining JORC mineral resources (refer ASX release 26 June 2024). The work will include:

  • Reviewing and evaluating all historical exploration data.

  • Creating a GIS database.

  • Reinterpreting existing geophysical data.

  • Acquiring and analyzing high-definition satellite imagery.

  • Conducting reconnaissance geochemical sampling, scintillometer traverses, and geological mapping.

We are confident that NewPeak has the necessary funds to support these exploration and expansion efforts in the near to medium term.

NewPeak invites shareholders and interested parties to watch this space. Please subscribe to our email out or 𝕏 feed @ASX_NPM to keep abreast of exciting advancements.

 
NewPeak Canadian Uranium and REE Project

General Location Map of the project area and location of Torngat Metals Strange Lake REE Project and the nearby world-class Voisey Bay nickel mine near Nain.

 
 

For more information, please contact us at info@newpeak.com.au

 
 

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