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Labrador Gold Signs Agreement to Form Joint Venture With Nemo Resources Through Elementary Minerals Inc for Exploration of the Watson Project in Northwestern Ontario
TORONTO, Feb. 10, 2026 (GLOBE NEWSWIRE) -- Labrador Gold Corp. (TSX.V: LAB | FNR: 2N6) ( ȁ...
About this update from Labrador Gold Corp
[{"type":"text","content":"Labrador Gold Signs Agreement to Form Joint Venture With Nemo Resources Through Elementary Minerals Inc for Exploration of the Watson Project in Northwestern Ontario\nTORONTO, Feb. 10, 2026 (GLOBE NEWSWIRE) -- Labrador Gold Corp. (TSX.V: LAB | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce that it has signed a Letter Agreement dated February 9, 2026 ( the “Letter Agreement”) to form a corporate joint venture (the “Joint Venture”) with Nemo Resources Inc. (“Nemo Resource Group” or “Nemo”) through a private exploration company, Elementary Minerals Inc. (“Elementary”). Elementary has acquired, through map staking, 127,100 hectares of mineral claims in the eastern Fort Hope greenstone belt of northwestern Ontario (the “Watson Project”). Highlights The Watson Project represents the largest landholding in the Fort Hope greenstone beltThe Fort Hope greenstone belt is significantly underexplored compared to other greenstone belts (e.g. Red Lake and Pickle Lake) in the Uchi Subprovince, OntarioWhile Elementary’s exploration focus will be on gold, the Watson project also hosts significant potential for critical minerals (e.g. antimony, nickel, copper and zinc)Elementary is the 100% owner of 127,100 hectares of highly prospective ground in the eastern Fort Hope greenstone belt, free of royalties with no option payments or work commitmentsThe proposed road to the Ring of Fire, expected to begin construction in mid-2026, runs through the Watson property and once complete, will significantly reduce costs of exploration and development About the Watson Project The Watson Project is situated in the Fort Hope greenstone belt (FHGB), at the eastern end of the prolific Uchi Subprovince that also includes the Red Lake (~28Moz gold past production1) and Pickle Lake (~3Moz gold past production2) greenstone belts, both of which have a long history of exploration and mining, hosting major gold deposits (figure 1). Despite having similar geology to these belts, the FHGB has seen far less exploration, and has largely been overlooked by past explorers. This represents a significant opportunity for Elementary to explore a substantial property position in one of the few remaining underexplored greenstone belts in Ontario usin...