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Labrador Gold Announces New Discovery With Assays of 106 g/t Au and 20.4g/t Ag at Fire Ant Zone, Hopedale Project
TORONTO, Feb. 08, 2024 (GLOBE NEWSWIRE) -- Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce the resu
About this update from Labrador Gold Corp
[{"type":"text","content":" TORONTO, Feb. 08, 2024 (GLOBE NEWSWIRE) -- Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce the results of the 2023 exploration program at its 100% owned Hopedale Project in Labrador. The district scale Hopedale property covers a 43km strike length of the Florence Lake greenstone belt which has characteristics typical of greenstone belts around the world but has been underexplored by comparison. Highlights Fire Ant gold occurrence high-grade gold up to 106g/t with 20.4g/t Ag in rock grab samples mineralization traced over approximately 200 metres strike length Rusty Ridge and Last Resort nickel occurrences anomalous Ni area at Rusty Ridge extended to 550m rock samples up to 0.28% Ni and soil samples up to 0.23% Ni Identified a new anomalous nickel area (Last Resort) over a strike length of 1.6km coincident with a significant magnetic high Jasmine zinc occurrence anomalous zinc zone identified over 400m at Jasmine with values up to 0.97% Zn in rock and 0.22% in soil Jasmine also shows high copper and gold values indicating potential for volcanogenic style mineralization Thurber Boundary copper occurrence highest copper in soil value (3,493 ppm) found on the property to date identified in a 400m anomalous trend Eight occurrences identified on the Hopedale project to date reflecting multiple mineralization styles including orogenic gold, magmatic Ni sulphide, copper-silver vein and Zn-rich volcanogenic massive sulphide Significant gold and silver in rock grab samples was found in the Rusty Ridge area with a high of 106g/t Au and 20.4 g/t Ag, 3.7g/t Au and 4.9g/t Ag and 2.9g/t Au and 4.7g/t Ag. This newly discovered mineralization named the Fire Ant occurrence, is hosted in gossanous felsic volcanic rocks close to the contact with ultramafic volcanic rocks and has been traced over a strike length of approximately 200 metres. Work during 2022 found significant nickel anomalies in soil and rock at an area named Rusty Ridge. The anomalies occur in ultramafic rocks indicating potential for magmatic nickel style mineralization. One of the goals of the 2023 exploration program was to follow up and extend these anomalies. A total of 14 grab samples of rock assayed over 0.1% Ni and included values up to 0.28% Ni while nickel values in soil up to 2,271ppm (0.23%) show a significant...