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High Tide Resources, a Subsidiary of Avidian Gold, Commences Verification Drill Program at its Labrador West Iron Ore Property
TORONTO, ON / ACCESSWIRE / August 11, 2020 / High Tide Resources Corp. ("High Tide or the Co...
About this update from Avidian Gold Corp.
[{"type":"text","content":"High Tide Resources, a Subsidiary of Avidian Gold, Commences Verification Drill Program at its Labrador West Iron Ore PropertyTORONTO, ON / ACCESSWIRE / August 11, 2020 / High Tide Resources Corp. (\"High Tide or the Company\") is pleased to announce that the Company has commenced verification drilling at its 2,475 hectare Labrador West Iron Ore Property (‘The Property or Project\") near Labrador City, Newfoundland. High Tide is a majority controlled private subsidiary of Avidian Gold Corp (\"Avidian\")(TSXV:AVG).The Property has been subjected to advanced exploration techniques by Rio Tinto Exploration including airborne and ground geophysics, mapping, metallurgical test-work and diamond drilling. Between 2010 and 2012 Rio Tinto drilled 18 diamond drill holes totaling 4,227 metres, intersecting significant iron mineralization in multiple drill holes highlighted by hole 11LB0027, which yielded 279 metres at 29.8% Fe, including 157 metres at 31.9% Fe and 90 metres at 31.9% Fe*.High Tide's President and VP of Exploration Steve Roebuck states: \"Over the past year only iron ore has kept pace with gold as the best-performing major commodity as prices have topped the $115/tonne for 62% Fe. This is a very prospective, well located iron ore property and we are excited to begin the verification drill program. Rio Tinto's excellent work has de-risked the Project on many levels by delineating the general boundaries of the deposit through 18 drill holes and equally important completing the preliminary metallurgy which suggests we have good potential to produce a high-quality, low-impurity + 62% iron concentrate at reasonable grind sizes. We already know where to drill and our Phase One drill program will pick up where Rio Tinto left off with verification drilling in the core area that will lay the foundation for a resource estimate.\"The Company has an initial plan to drill four holes and up to 1,200 metres of NQ-sized core in Phase One (see Figures 1 & 2 for Project and drill hole location).The Company would also like to acknowledge and thank the Department of Natural Resources for its financial assistance through the Junior Exploration Assistance Program. The Government of Newfoundland and Labrador's continued support of the mining and exploration industry during these challenging times is greatly appreciated.High Tide Resourc...