Vancouver, BC, January 10th, 2022 – NEWFOUNDLAND DISCOVERY CORP. (CSE: NEWD, OTC: NEWDF, FSE: M4KQ-FF) (“Newfoundland Discovery” or the “Company”) is pleased to announce that the Company has expanded its Phase 2 Drilling Program at the Chubb Lithium project in Quebec from 5,000 metres to 10,000 metres of diamond drilling.
As mentioned in its September 10, 2021, news release, the Company has planned to follow-up its successful Spring 2021 Phase 1 drill program as soon as the ground had frozen. All drilling permits have been obtained and the Phase 2 Winter 2022 drill program has already commenced.
The Spring 2021 program’s emphasis was on the three pegmatite dykes present on the property, all 15 planned drill holes were completed, and it became evident that the potential lies in the Main Dyke. That drilling defined the Main Dyke to over a length of more than 350 metres. The grade and width of the lithium bearing pegmatite improved towards the south with 1.48% Li2O over 12.7 metres in DDH21-CH-15.
Figure 1: 2021 Spring Drill Results of Main Dyke at Chubb Lithium Property, Quebec
For this Winter 2022 program, planned holes will be drilled on sections 50 metres apart and will be focused on the southern extension of the Main Dyke. Three to four holes are planned to be drilled on each section to verify the zone to a vertical depth of 100 metres, with several planned holes to be drilled to verify the pegmatite at a greater depth. The goal of this program is to confirm the continuity of the lithium bearing pegmatite and to potentially proceed with a preliminary resource evaluation.
Figure 2: Chubb Property location within the Lacorne pegmatite field
The 100%-owned Chubb Project is located approximately 28km from the town of Val-D’Or, Quebec. This area is one of Canada’s most prolific lithium belts and could soon be the country’s next lithium producing district. Infrastructure such as powerlines and roads surround the project as Sayona Mining Ltd. advances their Authier Project toward development in strategic partnership with Piedmont Lithium Ltd. and in which Tesla, Inc. has already indirectly invested in Quebec’s lithium resources through a deal with Piedmont.
COVID Protocols
Management expects the new Covid-19 restrictions implemented in Quebec will have a minimal impact on the drilling program. We fully comply with health and safety measures recommended by provincial, INSPQ, and CNESST regulations governing mineral exploration activities in Quebec, Canada.
Qualified Person
Donald Théberge, P.Eng., M.B.A., an independent qualified person as defined in National Instrument 43-101, has reviewed, and approved the technical contents of this news release on behalf of the Company.
About Newfoundland Discovery Corp.
Newfoundland Discovery is a Canadian junior mining exploration company focused on exploration and development along the Detour Gold trend in Quebec and the Central Gold Belt in Newfoundland and Labrador. The Company is one of the largest mineral claim holders in the Detour trend and retains significant landholdings in Newfoundland.
On Behalf of the Board of Directors,
NEWFOUNDLAND DISCOVERY CORP.
“Blair Naughty”
President, CEO & Director
Investor Relations
Email: info@newfoundlanddiscovery.com
www.newfoundlanddiscovery.ca
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Forward-Looking Statement
This news release may contain certain “forward-looking statements”. Forward-looking statements involve known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.