Many Peaks Gold Limited announced the grant of six (6) mineral licences located in southeast Newfoundland covering a 151km2 area referred to as the Aska Lithium Project. The Aska Lithium Project is located in the same Canadian province as the recently optioned Odyssey REE project optioned by MPG. Situated proximal to Newfoundland's southern coast approximately 45km east of the town of Cape Ray, Aska is located in the same belt of intrusions as hosts the Avalon lithium deposit in Ireland, the Piedmont and Kings Mountain lithium deposits in the eastern United States. Early-stage reconnaissance site visits confirm
pegmatites hosted both in S-Type granites and pegmatite dikes extending into adjacent metamorphic host rocks associated with Ceasium and Tantalum anomalism in regional scale datasets. Aska is host to an extensive pegmatite field situated within a tectonic terrane that is host to multiple lithium oxide deposits. The pegmatite intrusions identified are found cross cutting granite intrusions, predominantly associated with the Rose Blanche intrusion complex. Pegmatite dikes also extend outside of the granites which they are interpreted to have a formative association with and intrude into the surrounding schists and siliciclastic metamorphic rocks of the Harbour Le Cou Group. Lake sediment sampling results compiled by the Newfoundland and Labrador Geological Survey highlight caesium and tantalum anomalism in the Aska Pegmatite field, and the targeted extent of the intrusion belt is bracketed by several beryllium and lithium occurrences along the Gander-Dunnage zone. The age of intrusions occurring at the Aska Project in Newfoundland are of Devonian age (reported age dates between 385 million years ago (Ma) and 420Ma) which is the similar age of intrusions associated with major lithium deposits in the same terrane, including the world class Carolina Tin-Spodumene Belt (hosting the Piedmont Lithium Project and previously mined Kings Mountain deposit) and the Avalonia Project in Ireland being explored by Ganfeng Lithium Corp.'s subsidiary GFL International Co. Ltd. The Gander-Dunnage zone in Newfoundland and the extensions of that terrane into Ireland and the Carolinas formed an integral part of the Gondwanan supercontinent and was situated in a major tectonic collision zone which formed multiple granite intrusions of similar composition at the margins of the Avalonia subcontinent. With the opening of the Atlantic Ocean Avalonia was fragmented and is located across present day South and North Carolina, Nova Scotia and Newfoundland on west side of the Atlantic. On the east side of the Ocean the same
terrane can be traced from Europe through Ireland and the south Cornwall nappes. Within the Gander-Dunnage zone in Newfoundland, pegmatite related mineralisation is extensive with mapped beryl occurrences in pegmatites located throughout the Gander-Dunnage zone and immediately south and
southwest of the Aska project area, however with no previous exploration for lithium mineralisation in the district.