High Tide Resources (CSE:HTRC) has returned further iron oxide intercepts at its Labrador West Iron Project in Newfoundland and Labrador, Canada, ahead of a planned updated mineral resource estimate later this year.
The latest assays cover six drill holes, including 128.9m @ 30.2% total iron (Fe) from 7.2m in hole 26LB0071 and 179.6m @ 26.7% Fe from 161m in 26LB0072.
More than 77% of the latter’s 347m drilled length returned grades above 20% Fe, according to the company. All holes were drilled vertically, with true widths estimated at 80–90% of core length.
CEO Steve Roebuck says all 13 holes reported so far have intersected iron oxide mineralisation.
“Impressively, 11 of the drill holes have been outside the existing resource boundary and will be very beneficial when it comes time for the updated mineral resource estimate later this year,” Roebuck says.
The results build on an earlier seven-hole batch that intersected iron mineralisation beyond the current pit shell, as previously reported by Mining.com.au.
High Tide says it has completed 25 holes totalling more than 6,150m, with another two underway. The company plans to incorporate the drilling into an updated mineral resource estimate.
Labrador West currently hosts an inferred resource of 655 million tonnes @ 28.84% Fe, outlined in an April 2023 technical report.
The project lies about 20km northeast of the Carol Lake mine complex operated by Iron Ore Company of Canada, which is majority-owned by Rio Tinto (ASX:RIO).
High Tide Resources is a Canadian explorer that wholly owns Labrador West and the Lac Pegma copper-nickel-cobalt deposit near Fermont, Québec.
Write to France Pinzon at Mining.com.au
Images: High Tide Resources
