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Nikos Announces Results of 1,662 Metre Drill Program at Borden Lake Extension
Vancouver, British Columbia--(Newsfile Corp. - May 30, 2017) - Nikos Explorations Ltd. (TSXV: ...
About this update from Labrador Gold Corp
[{"type":"text","content":"Nikos Announces Results of 1,662 Metre Drill Program at Borden Lake ExtensionVancouver, British Columbia--(Newsfile Corp. - May 30, 2017) - Nikos Explorations Ltd. (TSXV: NIK) (\"Nikos\" or the \"Company\") announces results of its recently completed diamond drill program at the Borden Lake Extension Project near Chapleau, Ontario. The Company drilled 1,662 metres in 13 holes to test chargeability and geochemical anomalies located within 2.5 kilometres of Goldcorp's Borden Lake property.Drilling intersected the same rocks as those described by Probe Mines during their drilling at Borden Lake, including biotite gneiss, garnet biotite gneiss as well as pegmatite that is commonly associated with the gold mineralization (See Figure 1 below). Mafic metavolcanics rocks were also encountered and these may be part of the Borden Lake Belt. No significant gold mineralization was encountered.The rocks encountered were commonly altered, with hematite, silica (both pervasive and as veinlets) and chlorite being the predominant alteration styles. Sulphide mineralization, primarily in the form of disseminated pyrite, and in some cases pyrrhotite, was identified in some of the altered zones (see Figure 1). The chargeability and geochemical anomalies tested during the drilling program occur up ice of high gold grain counts in till samples reported in 2016, including a sample that returned 48 gold grains (see News release dated March 29, 2016). One of the chargeability anomalies occurs adjacent to a soil gas hydrocarbon (SGH) anomaly approximately 200 metres up ice of the 48 gold grain sample. A second chargeability anomaly, with a stronger response than the first occurs a further 500 metres up ice of the anomalous till samples. Both chargeability anomalies are approximately 400 metres long and remain open to the east and west (See Figure 2).\"We have gained valuable information about the geology of the area that was previously unknown because of lack of outcrop,\" said Roger Moss, Chief Executive Officer of Nikos. \"We intend to integrate this new geological data with the existing geochemistry and geophysics to better understand the potential for gold on the property.\" The samples submitted for assay had a longer than usual turnaround due to a shutdown of the nuclear reactor facility at McMaster University in Hamilton. The shutdown created a sig...