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Nikos Explorations Ltd. to Change Name to Labrador Gold Corp.
Vancouver, British Columbia--(Newsfile Corp. - December 18, 2017) - Nikos Explorations Ltd. (T...
About this update from Labrador Gold Corp
[{"type":"text","content":"Nikos Explorations Ltd. to Change Name to Labrador Gold Corp.Announces Grant of OptionsVancouver, British Columbia--(Newsfile Corp. - December 18, 2017) - Nikos Explorations Ltd. (TSXV: NIK) (\"Nikos\" or the \"Company\") is pleased to announce that it has received regulatory approval to change its name to Labrador Gold Corp. effective Tuesday December 19, 2017. The company will continue to trade on the TSX Venture Exchange under a new symbol \"LAB\".The change of name reflects the company's focus on gold exploration in Labrador following the option of three projects covering a total of 1,701 square kilometres from Shawn Ryan (see news releases dated September 11 and November 23, 2017). \"The name change represents our commitment to systematic exploration of the three Labrador properties for gold,\" said Roger Moss, Chief Executive Officer of Nikos. \"Our first exploration program consisting of lake sediment and soil sampling has been completed on all three projects and we will be releasing results on a project by project basis as they become available.\"Nikos also announces the grant of 1,620,000 options to purchase common shares of the Company to directors, officers and a consultant. The options are exercisable at a price of $0.20 for a period of five years.About Nikos Explorations:Nikos Explorations is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in the Americas. Nikos recently signed a Letter of Intent under which the Company has the option to acquire 100% of the 740 square kilometre (km2) Ashuanipi property in northwest Labrador and exercised its right of first refusal for the Nain (503 km2) and Hopedale Greenstone (458 km2) properties in central Labrador.The Ashuanipi gold project is located just 35km from the historical iron ore mining community of Schefferville, which is linked by rail to the port of Sept Iles, Quebec in the south. The claim blocks cover large lake sediment gold anomalies that, with the exception of local prospecting, have not seen a systematic modern day exploration program. Recent regional geological mapping in the area by the Newfoundland and Labrador Geological Survey has highlighted the gold potential of the region and historical work 30km north on the Quebec side led to gold intersections of up to 2.23 grams per tonne (g/t) Au ...