Labrador Gold posts summer field work results from Hopedale Project, Labrador
Labrador Gold Corp. [TSXV: LAB; OTCQX: NKOSF; FNR: 2N6] reported results of the 2024 exploration program at its 100%-owned Hopedale Project in Labrador. The district scale Hopedale property covers a 43km strike length of the Archean-age Florence Lake greenstone belt which has characteristics typical of greenstone belts around the world but has been underexplored by comparison.
Highlights: Thurber North: High grade gold value of 32.32 g/t and anomalous value of 0.81 g/t at the north end of the 3km Thurber gold trend.
Thurber Boundary occurrence: Anomalous gold value of 0.9 g/t and copper (349 ppm) within an 850-metre long anomalous zone defined by historical sampling, including soil samples up to 1,568 ppb Au and rock samples up to 0.75g/t Au; indicates potential to extend the Thurber Gold trend a further 1.5km north.
Fire Ant gold occurrence: High-grade gold of 9.35 g/t and anomalous values of 0.3 g/t and 0.19 g/t Au with 10.8 g/t Ag in rock grab samples close to a 2023 high-grade sample grading 106 g/t Au and 20.4 g/t Ag.
Gold mineralization now traced over an area of 250 metres by 270 metres along the contact of ultramafic volcanic rocks and gossanous felsic volcanic rocks
Jasmine Occurrence: Ground electromagnetics show an approximately 400 metres long conductor adjacent to a sample of semi massive sulphide grading 0.97% Zn and 0.25% Cu within a 1.5km trend of anomalous Cu-Zn in rock and soil.
Stone Fly Occurrence: New copper occurrence with 0.55% Cu and anomalous gold (0.1 to 0.2 g/t). Fourteen occurrences now identified on the Hopedale project reflecting multiple mineralization styles including orogenic gold, magmatic Ni sulphide, copper-silver vein and Zn-rich volcanogenic massive sulphide.
Prospecting along the Thurber gold trend during 2024 continued to highlight the significant potential of the area. The highest-grade sample of 32.32 g/t Au yet collected along the trend was found at Thurber North, and anomalous samples of 0.96 g/t Au and 0.5 g/t Au were collected approximately 150 metres north of TD500 and 100 metres south of Thurber North, respectively.
The 3-km trend is defined by four significant gold occurrences surrounded by anomalous gold in rock and soil samples that occur along the contact of intensely carbonate altered ultramafic volcanic rocks and altered felsic or mafic volcanic rocks.
A sample grading 0.93 g/t Au was collected from the Thurber Boundary area approximately 1.5 km north of Thurber North. Thurber Boundary is defined by soil samples up to 1,568 ppb Au, including five greater than 500ppb, and previous rock samples up to 0.75 g/t Au. These anomalous samples extend over 850 metres from the northern property boundary southwestward towards Thurber North and indicate the potential to extend the Thurber gold trend to the property boundary.
“The district scale Hopedale project, stretching over 43km, continues to demonstrate the potential we expect from an Archean greenstone belt. The 3-km-long Thurber gold trend, with the potential to extend it an additional 1.5km to the property boundary, is the most prospective area found to date, and has drill ready targets at TD500 and Thurber Dog. Gold and base metal occurrences found by LabGold to the south are also encouraging and indicate the diversity of mineralization styles that can occur in a greenstone belt environment,” said Roger Moss, President and CEO. “While work has continued at Hopedale, we are also reviewing advanced stage gold projects for potential acquisition and continue to narrow down potential candidates.”
Labrador Gold has approximately $6 million in working capital and holds 5,263,157 common shares of New Found Gold currently valued at approximately $18.2 million.
The company has 170,009,979 common shares issued and outstanding.