Sorrento Resources Announces Mobilization of Drill Crews and Diamond Drill at the Bottom Brook Project
Executive Summary
- Sorrento Resources Ltd. has mobilized drill crews and a diamond rig to commence its inaugural 9‑hole, ~1,300 m drilling campaign at the Bottom Brook Project’s U3 Prospect.
- The program will twin historic high‑grade REE intercepts (LP‑07‑09 and LP‑08‑17) and generate core for metallurgical testing, aiming to expand known mineralization along strike, up‑dip and down‑dip.
- A Technical Services Agreement with Bugden Exploration Inc., involving daily rates of $375–$650 and an aggregate value potentially exceeding $100 k (a “Significant Transaction” under CSE policy), has been executed.
Key Details
- Drilling Scope: 9 diamond drill holes, total ~1,300 m; first hole expected early February 2026.
- Target Area: U3 Prospect, Bottom Brook Project – historic REE mineralization with known intercepts (e.g., 5.03 m @ 4.37% TREO, 15.3 m @ 1.16% TREO).
- Twin Holes Planned: Replicate LP‑07‑09 (5.03 m @ 4.37% TREO; includes 1.05 m @ 11.02% TREO) and LP‑08‑17 (15.3 m @ 1.16% TREO; includes 7.5 m @ 1.27% TREO).
- Metallurgical Work: Core from twin holes will be used for metallurgical testing to assess processing potential.
- Operational Schedule: 24‑hour drilling operations; first hole completion targeted within the first week of February 2026.
Technical Services Agreement
* Parties: Sorrento Resources Ltd. and Bugden Exploration Inc. (Bugden).
Effective Date: January 20, 2026; term through December 31, 2026.
Compensation: Daily rates ranging from $375 to $650 per day for geological consulting services.
Related‑Party Nature:* CEO Alex Bugden and Director Neal Blackmore are significant shareholders of Bugden; transaction classified as a “Significant Transaction” (potential value > $100 k).
Project Background
* Bottom Brook comprises 16 licences, 606 claims, covering ~15,150 ha, located ~40 km south of Corner Brook, NL.
* Historic REE intercepts include:
* 4.37% TREO over 5 m
* 4.47% TREO over 5.6 m
* 8.19% TREO over 2 m
* 15% TREO over 0.5 m
* 11.02% TREO over 1.05 m
* 1.269% TREO over 7.5 m
Qualified Person * Alex Bugden, P.Geo., qualified under NI 43‑101, has reviewed and approved the technical information.
Notable Quotes
“Mobilizing our first-ever drill program is a major milestone for Sorrento and an exciting moment for our shareholders,” – Alex Bugden, President & CEO.
Materiality Assessment: Material – Positive (inaugural drilling campaign and related‑party service agreement represent significant operational and financial developments.)