Sorrento Resources Ltd Stock Price, News & Analysis

Sorrento Resources (OTCQB: SRSLF) has entered into a mineral property purchase agreement to acquire seven additional mineral licenses for its Rodgers Cove Project in Newfoundland and Labrador. The acquisition terms include a $5,000 cash payment, issuance of 150,000 common shares, and a 2% net smelter returns royalty, of which 1.5% can be purchased for $1,000,000.

The Additional Claims comprise 52 individual claims covering approximately 1,300ha. Following this acquisition, the consolidated Project will encompass 11 mineral licenses with 151 claims spanning 3,775ha. The Property is strategically located within the Central Newfoundland Gold Belt, straddling both the JBP Fault and Appleton Fault, featuring altered granodiorite-hosted mineralization with quartz veining and arsenopyrite.

Sorrento Resources (OTCQB: SRSLF) has initiated its largest-ever geochemical soil and rock sampling program at the Lord Baron Property in Newfoundland. The comprehensive program encompasses 1,075 soil sample locations across four distinct grids: Little Bay Head (705 samples), Clam Pond (127 samples), CSCJV-1 (154 samples), and Ferndale and Swatridge (89 samples).

The program aims to expand on 2024 sampling results and includes the Little Bay Head Grid, which features a historical copper anomaly of 17,700ppm. The initiative will utilize modern GPS tracking and advanced assay techniques to analyze 34 elements plus gold. Additionally, rock sampling will be conducted on any mineralized outcrops or float boulders encountered during the soil sampling process.

Sorrento Resources (SRSLF) has entered into an agreement to acquire a 100% interest in the Rodgers Cove Gold Project in Newfoundland. The acquisition terms include a $10,000 cash payment, issuance of 2M common shares, and a 2% net smelter royalty, of which 1% can be purchased for $1M. The Project comprises 4 mineral licenses covering 99 claims across 2,475ha in the Central Newfoundland Gold Belt. The property features four significant exploration targets with notable gold values: Target #1 shows values up to 758ppb Au and trenching results of 115.6 g/t Au over 1m; Target #2 contains samples between 100-300ppb Au; Target #3 includes a soil sample of 1.78 g/t Au; and Target #4 encompasses four gold showings with grab samples up to 11.933 g/t Au. The transaction is expected to close around June 11, 2025.

Sorrento Resources (SRSLF) has completed a non-brokered private placement, raising $374,999.85 through the issuance of 4,999,998 units at $0.075 per unit. Each unit includes one common share and half of one warrant, with warrants exercisable at $0.15 for 36 months. Notable investor Eric Sprott acquired 3,000,000 units for $225,000, increasing his ownership to 13.7% (non-diluted) and 17.8% (partially-diluted). Company insiders subscribed for 1,466,665 units ($109,999.87). The proceeds will fund exploration at the Lord Baron and Harmsworth projects, loan repayment, and working capital. The securities are subject to a hold period until September 7, 2025.

Sorrento Resources (CSE: SRS) (OCTQB: SRSLF) has announced a non-brokered private placement to raise $375,000 through the sale of 5,000,000 units at $0.075 per unit. Each unit includes one common share and half of one share purchase warrant, with whole warrants exercisable at $0.15 per share for 36 months.

The proceeds will fund exploration activities at the Lord Baron and Harmsworth projects, repay outstanding loans, and provide working capital. The company focuses on precious and base metal properties in Newfoundland, including Wing Pond, Lord Baron, PEG lithium, and Harmsworth (VMS) projects. The placement is subject to regulatory and exchange approval, with potential finder's fees payable.

Sorrento Resources (CSE: SRS) (OTCQB: SRSLF) has announced results from its September 2024 soil sampling and prospecting program at the Lord Baron Property in Newfoundland. The program collected 59 B-Horizon soil samples and one grab sample, revealing notable findings:

Key highlights include a B-Horizon soil sample yielding 0.577g/t Au and five samples showing anomalous copper content (>100ppm), with the highest returning 461ppm Cu. The soil anomalies correlate with a Northeast-Southwest trending structure and remain open to the south. The sampling area is located less than 3km from the historic Whalesback and Little Deer Mines and within 1km of the Clam Pond gold occurrence.

The results are significant as they indicate potential further mineralization in the previously untested area. The company plans to conduct follow-up exploration with additional soil sampling, prospecting, and heavy metal content till sampling.

Sorrento Resources announces the appointment of Alex Bugden as President and CEO. Bugden, a P. Geo with over 5 years of experience in exploration and mining, specializes in Newfoundland and Labrador regions, focusing on volcanogenic massive sulphide, orogenic gold, and lithium-cesium-tantalum pegmatite mineralization. Former President and CEO, Brayden Sutton, will stay on as a director. Bugden aims to expedite exploration efforts, particularly on the Lord Baron Project, leveraging the company's existing asset base and experienced board. The change is expected to unlock significant potential and generate shareholder value.

Sorrento Resources (CSE: SRS) (OTCQB: SRSLF) has expanded its Lord Baron Copper-Gold Project in Newfoundland by staking two additional mineral licenses covering 750 hectares. This expansion increases the project's total size to 6,400 hectares, consolidating Sorrento's strategic position in the Springdale district.

The newly acquired land includes five documented mineral occurrences, three historic shafts, and two areas with minor massive sulphide ore extraction. This expansion provides opportunities for new grassroots discoveries in largely underexplored areas, potentially enhancing the project's value for Sorrento Resources and its shareholders.

Sorrento Resources (CSE: SRS, OTCQB: SRSLF), a Canadian exploration company, has completed the acquisition of a 100% interest in the Lord Baron Project in Newfoundland and Labrador. The transaction involved three purchase agreements, totaling $47,500 in cash and 4,300,000 common shares issued, alongside a 2% net smelter returns royalty for the vendors. The project spans 5,650 hectares with 226 claims across 13 mineral licenses. The acquired shares will be held until November 11, 2024. No finder's fees were required.

Director Alex Bugden remarked that this acquisition positions Sorrento Resources, Firefly Metals, and Vulcan Minerals as key players in the Springdale Peninsula's historic mining district.