Labrador West Property, Labrador

High Tide Resources is a privately-owned subsidiary of Avidian Gold Corp with exclusive option to earn 100% of the Labrador West Iron Ore Property.
The Project is located 17 kilometres northeast of Iron Ore Company of Canada’s (IOC) 23 million tonne per year Carol Lake operation and 6 kilometres north of the Julienne Lake deposit near Labrador City, Newfoundland.
Eighteen NQ diameter holes totalling 4,227 metres were drilled by Rio Tinto at Labrador West property ( formally Goethite Bay) from 2010 – 2012.

2475 hectares
2.75% gross sales royalty on all iron ore produced, removed and recovered from the project.

Banded iron formation (BIF) at the Labrador West property is hosted in the Proterozoic-aged Sokoman Formation, a 30-170m thick sequence of cherty iron-rich sediments.
Labrador West property geology is classified as a metataconite deposit, having been moderate to strongly metamorphosed and complexly folded during the Grenville Orogeny (ca 1.0 Ga).
Based on drilling to date, the deposit presents a mix of weakly to strongly weathered and commonly banded quartz(+/-silicate, carbonate)-hematite-goethite + manganese oxide, limonite and locally magnetite mineralization.
Goethite is a secondary product formed during chemical weathering and replaces both hematite and magnetite.
The mineralization varies from hematite dominant to goethite dominant and locally magnetite dominant.

Drilling has intersected iron mineralization over an area of 1,800 metres by 2,500 metres to a vertical depth of 420 metres and is still open at depth and along strike.
Significant iron mineralization was intersected in multiple drill holes including hole 11LB0027, which yielded 279 metres at 29.8% Fe, including 157 metres at 31.9% Fe and 90 metres at 31.9% Fe.

Drill and develop an iron ore resource compliant to NI 43-101 standards in 2021.

For additional information please visit the High Tide Resources website.