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
- 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 2019
- Politically stable jurisdiction supportive of mineral exploration
What to expect in 2020
- Hopedale Project
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
LabGold’s 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 Project
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.
The Ashuanipi gold project is located just 35 km 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. Results of the 2017 reconnaissance exploration program following up the lake sediment anomalies show gold anomalies in soils and lake sediments over a 15 kilometre long by 2 to 6 kilometre wide north-south trend and over a 14 kilometre long by 2 to 4 kilometre wide east-west trend. The anomalies appear to be broadly associated with magnetic highs and do not show any correlation with specific rock types on a regional scale (see news release dated January 18th 2018). This suggests a possible structural control on the localization of the gold anomalies