- Labrador Gold (LAB) released results of prospecting and channel sampling at the Florence Lake Greenstone Belt on its Hopedale Project in Labrador
- High-grade copper and gold were found in rock from both grab and channel samples from the northernmost (Thurber Dog) license
- Grab samples from the copper occurrence ranged from 131 ppm to 10.2 per cent Cu, with seven of the nine samples assaying over 1 per cent Cu
- Labrador Gold Corp. (LAB) is up 3.70 per cent, trading at $0.28 per share at 09:55 a.m. ET
Labrador Gold (LAB) released results of prospecting and channel sampling at the Florence Lake Greenstone Belt on its Hopedale Project in Labrador.
High-grade copper and gold were found in rock from both grab and channel samples from the northernmost (Thurber Dog) license. Previous work by LabGold and others in this area has outlined significant gold in rock and soil over a 3km strike length, including four discrete mineralized occurrences:
- Thurber North up to 3.8 g/t Au
- TD500 up to 21.59 g/t Au
- Thurber Dog up to 11.4 g/t Au
- Thurber South up to 4.1 g/t Au
Grab samples from the copper occurrence (Kaapak) ranged from 131 ppm to 10.2 per cent Cu, with seven of the nine samples assaying over 1 per cent Cu. Elevated silver in these samples ranged from 0.2 to 9.8 g/t Ag. The showing was channel sampled along eight channels over a strike length of approximately 50 metres. Results showed copper values ranging from 18 ppm to 3.31 per cent and silver values from 0.1 to 2 g/t.
Highlights:
- 3.31 per cent Cu over 0.76 metre
- 2.4 per cent Cu over 0.6 metre
- 1.55 per cent Cu over 1 metre
Labrador Gold’s President and CEO, Roger Moss, said that while the focus continues to be on the ongoing drilling at Kingsway, exploration programs at Hopedale continue to turn up solid results.
“The three kilometre ‘Thurber Dog trend’ of significant gold mineralization that includes the four discrete gold occurrences is a compelling target for future work with the potential for further discovery.”
He added that the initial work at the Kaapak copper occurrence has demonstrated high-grade copper that needs follow-up to determine its true extent. Based on LabGold’s initial work in the southern portion of the property, there appears to be potential for nickel mineralization associated with ultramafic rocks in the region.
Labrador Gold is a Canadian mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada.
Labrador Gold Corp. (LAB) is up 3.70 per cent, trading at $0.28 per share at 09:55 a.m. ET.