Sorrento Resources Acquires 100% Interest in Lord Baron Project
Sorrento Resources (CSE: SRS, OTCQB: SRSLF), a Canadian exploration company, has successfully completed the acquisition of a 100% interest in the Lord Baron Project located in Newfoundland and Labrador. This strategic move solidifies Sorrento Resources’ position in the historic mining district of the Springdale Peninsula.
Key Highlights of the Acquisition
- The transaction was finalized for $47,500 in cash and 4,300,000 common shares, establishing full ownership of the project.
- The Lord Baron Project comprises 5,650 hectares with 226 claims spread across 13 mineral licenses, providing a significant area of exploration potential.
- Director Alex Bugden expressed excitement over the acquisition, emphasizing the strategic advantage it offers to Sorrento Resources, Firefly Metals, and Vulcan Minerals in the region.
Additional Insight
The acquisition of the Lord Baron Project not only expands Sorrento Resources’ mineral portfolio but also solidifies its presence in a historically rich mining area. By strategically positioning itself in the Springdale Peninsula, Sorrento Resources gains access to valuable resources and opportunities for future growth and development.
