お知らせ • Oct 26
High Tide Resources Reports Final Drill Results from Labrador West Iron Project
High Tide Resources Corp. reported final assay results from drill holes 22LB0066 and 22LB0065, and the remaining unreported assays results of hole 22LB0064. A complete list of all significant assay results from the 2022 spring/summer drilling program at its Labrador West Iron Project (the "Project" or "Property") is also provided. The Project is located 20 km northeast and adjacent to IOC/Rio Tinto's Carol Lake Mine complex in Labrador City, Newfoundland. A total of 2,298 metres of core was drilled with iron mineralization visually identified in all seven HQ/NQ-diameter diamond dill holes. The 2022 drill program was designed to in-fill between recent and historical drill holes and test for depth and lateral continuity in preparation for a maiden resource later this year. The oxide facies of the Sokomon Iron Formation are dominated by the iron oxide minerals, hematite and magnetite accompanied by quartz occurring predominantly as chert. There may be accessory carbonates (calcite or dolomite), silicates, and, rarely, manganese oxides or carbonates. Production experience in the Labrador Trough indicates that hematite and magnetite in such a lithological setting tend to be readily easily recoverable using modern beneficiation methods, and produce high purity, desirable iron concentrates. The drill core was logged and sampled at High Tide's secure core shack located in Labrador City with all samples shipped to Activation Laboratories in Ancaster, Ontario for sample preparation and analytical testing. The Labrador West Iron Project is comprised of four mineral licences (99 mineral claims), 2,475 hectares in size. High Tide plans to quickly advance the Project through the drilling phase, release a maiden resource and potentially commence a PEA level study all within the first 12 months of going public. Explored and drilled by Rio Tinto Exploration from 2010 to 2012, and by High Tide Resources in 2020 & 2022, with 27 completed holes and approximately 7,500 metres of drill core the Project is ready for rapid advancement. Note that 30 drill holes were collared, but three Rio Tinto era holes were abandoned and re-drilled for technical drilling issues. Located only 20 kilometres northeast of Labrador City, the Project is proximal to all the critical infrastructure required to explore and develop a major new iron deposit, in the heart of the southern Labrador Trough. The Labrador Trough of western Labrador and adjoining Quebec constitutes Canada's primary iron producing district and is host to world-class deposits that have been mined for more than half a century. These have produced over 2 billion tonnes of iron ore to date and are considered to have very significant growth potential. The high quality of the deposits in the region allows for a wide range in product diversity, which includes premium fines, concentrate and pellet grades. The Property is strategically located near the mining communities of Wabush and Labrador City in the province of Newfoundland & Labrador and Fermont in Quebec. The area is home to the shovel-ready Kami Deposit, Champion Iron Ore's Bloom Lake Mine, Arcelor Mittal's Mont-Wright Mine, Tacora Resources' Scully Mine, the Julienne Lake Deposit and Rio Tinto IOC's Carol Lake Mine. The Wabush and Labrador City region is very well served with skilled labour and a highway as well as access to abundant low-cost hydroelectricity and a common carrier railway. The railway has 80 million tonnes per year of capacity for transport of iron products to the deep-water port of Sept Isles, Quebec, which provides year-round access to global markets. All scientific and technical information disclosed in this news release was prepared and approved by Steve Roebuck, P.Geo., President & VP Exploration of High Tide Resources Corp. and a Qualified Person as defined by NI 43-101. Scientific and technical information pertaining to the 2022 drill program in this news release was reviewed and approved by Ryan Kressall, M.Sc., P.Geo., Director of Geoscience, Mercator Geological Services Limited and a Qualified Person as defined by NI 43-101. Mercator Geological Services supervised the Phase One diamond drilling program. This included designing and implementing a comprehensive QAQC program consistent with CIM best practice methods. Core was delivered to a secured location for geological and geotechnical logging, and sampling. After core logging, core was marked for sampling and splitting. QAQC certified reference materials were used for blanks and standards and inserted at a rate of every alternating 10th sample. Quarter core duplicates were also collected every 40th sample and lab duplicates (alternating between coarse reject and pulp splits) were also analyzed every 40th sample. All split samples were stored in a secure location in sealed shipping bags prior to shipment to the laboratory for assay testing. Sample shipments were securely delivered via courier to Activision Laboratories ("ActLabs") in Ancaster, Ontario for sample preparation and analytical testing. Sample preparation was through the laboratory's standard rock preparation protocol that begins with jaw crushing followed by pulverization of a sample split (250g) to generate a pulp having 95% passing 0.105 mm grain size. Iron (Fe) content was measured using the Lithium Metaborate fusion technique. Prior to fusion, the loss on ignition (LOI), which includes H2O+, CO2, S and other volatiles, is determined from the weight loss after roasting the sample. The fusion disk is made by mixing the roasted sample with a combination of lithium metaborate and lithium tetraborate. Samples are fused in Pt crucibles using an automated crucible fluxer and automatically poured into Pt molds for casting. Samples are then analyzed on a Panalytical Axios Advanced wavelength dispersive XRF. Actlabs is an accredited commercially-operated laboratory analytical services firm that is ISO 17025 registered. Actlabs is independent of High Tide Resources, Avidian Gold, and Mercator.