Ackley Property - Newfoundland

Caprock has an option to acquire 100% interest in the Ackley lithium-tin-molybdenum-tungsten-REEs property in south-eastern Newfoundland. Ackley comprises 182 claims spread across three separate claim blocks that collectively span an area of 4,550 hectares located less than two hours’ drive from St. John’s. The claim blocks overlie portions of the contact zone of a large Devonian-aged granite complex with Proterozoic metasediments and volcanics, parts of which are “greisened”, or hydrothermally altered, that is similar in age and lithology to the Mount Pleasant deposit in New Brunswick and the East Kemptville deposit in Nova Scotia.

Limited historical exploration work across the eastern claim block (the “Main claim block") by companies including Esso Minerals, Rio Algom, American Zinc, Inco and others, discovered occurrences and anomalies of lithium, tin, molybdenum, tungsten and REEs.

Recent magnetometer survey work over part of the Main claim block indicates that the altered contact zone may be extensive, covering several square kilometres, with potential for lithium-bearing pegmatites and high-grade polymetallic veins. Recent limited prospect sampling and historical Esso trenches across the Main claim block returned assays of up to 0.91% lithium dioxide, 5.0% molybdenum, 0.67% tin and 1-5% fluorine on surface.

Newfoundland government survey maps of this region report some of the highest lake sediment values for REEs, uranium, fluorine and thorium on the entire island. No significant exploration has taken place at Ackley since the 1980’s, and the Property has never been explored specifically for lithium and REEs.