- Discovery of gold enriched zone near high grade (8,973ppb) soil sample at Ashuanipi, Labrador
- Defined by gold in soil and rock samples that cover an area of 450 metres by 450 metres
- Results of ground VLF-Magnetic survey over the area are pending
- Drill testing of zone expected in fall
- Systematic approach to exploration of district scale anomalies at Ashuanipi allowed LAB to quickly identify favourable areas for gold mineralization
- Two successful gold explorers lead the Labrador gold rush: Shawn Ryan and Roger Moss.
Ashuanipi
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
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Tags: #Ashuanipi, #Discovery, #Drilling, #Greenstone, #Hopedale, #LAB, #Labrador, #LabradorGold, #Newfoundland, #Plethora, #PreciousMetals, #ShawnRyan