Labrador Gold exercises option to acquire Hopedale property
TSX-V-listed Labrador Gold has exercised its option to acquire 100% of the four licences covering 695 claims comprising the Hopedale property, in the Florence Lake greenstone belt.
The project remains subject to a 2% net smelter return royalty.
The district-scale Hopedale property covers a 43 km strike length of the Florence Lake greenstone belt.
Work to date by LabGold has resulted in the discovery of three gold occurrences, which together with the previously known Thurber Dog occurrence, stretch over a 3-km section of the northern portion of the greenstone belt.
There is also significant potential for the critical metals copper and nickel associated with mafic and ultramafic volcanic rocks along the belt.
“Our district scale Hopedale project covers much of the Florence Lake greenstone belt that has many of the characteristics of greenstone belts elsewhere in the world but is underexplored by comparison. It has potential for the critical metals copper, nickel and cobalt in addition to the gold mineralisation discovered to date,” said president and CEO Roger Moss.
“The three kilometre ‘Thurber Dog trend’ includes four discrete gold occurrences and is a compelling area for future work with significant potential for further discovery. Both the Kaapak copper occurrence with its demonstrated high-grade copper, and the nickel anomalies associated with ultramafic rocks at Rusty Ridge, are exciting critical metals targets that need follow-up to determine their true extent.”
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