Labrador Gold Corp. stated that the Company’s board of directors have approved 2025 exploration programs for its 100%-owned Hopedale and Borden Lake gold properties.
Mineral occurrences of the Hopedale Project. Image Credit: Labrador Gold Corp.
Hopedale
The district-scale Hopedale property spans a 43-kilometer strike length of the Archean-age Florence Lake greenstone belt, which possesses properties common to greenstone belts worldwide but has been underexplored in comparison.
LabGold’s recent research yielded 11 important mineral occurrences across the site, including five gold occurrences, three nickel occurrences, two copper-silver occurrences, and a zinc-copper occurrence.
The 2025 program will primarily focus on the Thurber gold trend, which consists of four large gold occurrences surrounded by anomalous gold in rock and soil samples spanning a three-kilometer strike length.
An induced polarization/resistivity study will be conducted along the three-kilometer trend to help refine drill sites for a first-stage drilling program. Furthermore, mapping and sampling will be carried out, notably between the Thurber North and Thurber boundary, where work in 2024 suggests that the Thurber gold trend could be extended 1.5 km to the northern boundary.
The property will also be inspected and mapped over electromagnetic conductors discovered during 2024 surveys at the Jasmine Zn-Cu deposit and the Misery North Ni-Cu occurrence. Anomalous gold in lake sediment samples is found along a structural lineament that connects the Fire Ant Au-Ag occurrence to the StoneFly Cu-Au-Ag occurrence three km to the northeast, which will also be explored.
Borden Lake
The Borden Lake project is near Chapleau, Ontario, and is immediately close to the Borden gold mine, which is part of the Porcupine Complex and is being acquired by Discovery Silver Corp. from Newmont Corporation.
LabGold's previous exploration on the land discovered two anomalous zones based on geochemistry, one in the north reaching over 1.3km northwest-southeast and another in the south extending over 1km north-south. An IP/resistivity examination of the anomalous areas revealed a chargeability anomaly approximately 230 m above the ice in a 48 gold grain in-till sample that is open to the northwest and southeast.
In addition, a second chargeability anomaly was discovered 800 m up ice in the 48 gold grain sample and around 450 to 600 m up ice in a cluster of samples comprising three to seven gold grains.
Prospecting and a biogeochemical survey will be the primary focus of exploration in 2025, covering approximately 27 line km of the property’s northern border. Due to the extensive glacial sand cover on the property, the company is utilizing biogeochemistry as an exploration tool.
Project Acquisition Update
Consistent with its stated aim of acquiring a project with a significant resource, the Company continues to evaluate potential acquisitions. Approximately 40 initiatives, largely from Canada, have been examined.
The search is still ongoing, with a focus on advanced-stage gold projects. The company has limited the field of possible candidates and performed technical due diligence on many. LabGold has roughly $19.6 million in cash and marketable securities, making it well-positioned to acquire and advance a substantial project.