District Scale Exploration in Labrador
Targeting the Under-Explored Gold Potential of Labrador
Labrador Gold: District Scale Discovery Potential
- Large under-explored properties, including the major portion of two greenstone belts
- Recently acquisition of Gander Properties Along Strike From New Found Gold Discovery - 2 licenses represent the most prospective areas for gold of a 45km by 15km regional till and vegetation sampling program conducted over 3 years.
- Potential for discovery of new gold district(s)
- Experienced exploration success in finding gold deposits (>17 million oz)
- First mover advantage
- Results of aggressive initial exploration programs already indicate district scale gold targets
- First stage drilling on selected targets in 2020
What To Expect In 2020:
Hopedale Project Highlights
- Discovered a new gold showing north of the Thurber Dog gold occurrence, grab samples from which assayed between 1.67 and 8.26 g/t Au.
- The Thurber Dog gold occurrence has assays in grab and channel samples from below detection up to 7.866 g/t Au, with 5 samples greater than 1 g/t Au and 16 samples assaying greater than 0.1 g/t Au.
- The discovery extends the potential strike length of gold mineralization by approximately 500 metres along strike to the north.
- The new showing occurs within a larger 3km trend of anomalous gold in rock and soil associated with the contact between mafic/ultramafic volcanic rocks and felsic volcanic rocks.
Exploration at Hopedale during 2020 will focus on determining the extent of the Thurber Dog mineralized trend. Such work would aim to fill in the gaps between showings over the three-kilometre strike length with sampling and VLF-EM surveys. LabGold also intends to carry out an initial drill program targeting prospective areas along this trend, including the new showing.
Ashuanipi Project Highlights
- Discovered a gold enriched zone near a high grade (8,973ppb) soil sample taken in 2018.
- The zone is defined by anomalous gold in both soil (below detection up to 1,746ppb Au and including 12 samples over 100ppb Au) and grab rock samples (below detection up to 2.35 g/t Au) that cover an area of 450 metres by 450 metres.
- A second area of gold mineralization associated with garnet-bearing gossanous gneiss also shows potential.
- Grab rock samples show values from below detection to 0.68 g/t Au with 10 samples showing values greater than 0.1 g/t Au over an area of 200m by 120m within a larger anomalous area of gold in soil samples.
LabGold’s 2020 priority at Ashuanipi is to reach an agreement with the Matimekush-Lac John First Nation to enable continued exploration of the property. The 2019 election of the new Chief and Council has been challenged in Federal Court in Quebec with a court date scheduled for the end of February. As such, community engagement and negotiations are on hold until the court case is settled.
Borden Lake Extension Highlights
During 2019, Newmont Goldcorp announced the start of commercial production at their Borden Mine. The Borden Lake Extension project is located less than five kilometres from the Borden Mine along the southeast trend of the Borden Gold zone. Note that mineralization hosted on nearby properties is not necessarily indicative of mineralization that may be hosted on the Company’s property.
Given the start of mining at Borden, follow up of past results at the Borden Lake Extension project will be undertaken in 2020. Such work will likely include additional till sampling and geochemical surveys to better define the previously outlined anomalous zones as well as a reinterpretation of VLF-EM data using the latest inversion software. Due to the glacial cover in the area, overburden drilling, guided by results of this work, would be the best means to define targets for follow up diamond drilling.
Gander South and Gander North, Newfoundland
- Option to acquire 100% of two licenses from Shawn Ryan in an area of excellent infrastructure.
- Licenses cover over 14km of the potential extension of the Appleton fault zone associated with many of the gold showings, including the new discovery, on New Found Gold’s Queensway project to the south.
- The two licenses represent the most prospective areas for gold of a 45km by 15km regional till and vegetation sampling program conducted over 3 years.
The two licenses cover over 14 kilometres of strike length of the potential Appleton fault zone extension. The Appleton fault zone is associated with many of the gold showings, including the new discovery, on New Found Gold’s Queensway project to the south. Exploration over the past four years including till, vegetation and soil sampling has demonstrated the prospectivity of the licences, particularly along the extension of the crustal scale Appleton fault zone.
The Hopedale property covers much of the Hunt River and Florence Lake greenstone belts that stretch over 80 km. The belts are typical of greenstone belts around the world but have been underexplored by comparison. Initial work by Labrador Gold during 2017 show gold anomalies in soils and lake sediments over a 3 kilometre section of the northern portion of the Florence Lake greenstone belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 kilometres along the southern section of the greenstone belt (see news release dated January 25th 2018 for more details). Labrador Gold now controls approximately 57km strike length of the Florence Lake Greenstone Belt.