The claims have either been granted or are pending. High Tide now holds a total land package of approximately 2249 hectares.
High Tide's President and VP of Exploration,
High Tide's data review is currently focused on its copper-nickel-cobalt sulphide deposit and the exploration and resource expansion potential. Diadem Resources' 1996 drilling was focused on near surface mineralization with the average hole depth of approximately 100 metres.
Previous Exploration and 2021 Resource Expansion
Prior to Diadem Resources' 1996 drilling, the first exploration program carried out at Lac Pegma was done by Bellechase Mining circa 1955. A report filed on
Twenty-seven holes were drilled to average depth of 70 feet (33 metres) due to reported poor ground conditions and drill limitations. Results were encouraging with Hole 11 reporting 11 metres of 0.49% Cu and 0.30% Ni from 3 metres downhole. Despite the geology being logged as favourable gabbroic sills, dipping moderate to steeply east, most of the holes were not sampled. The logs noted consistent sulphide mineralization including pyrrhotite, chalcopyrite and pentlandite with sulphide percentages ranging from 1 % to 20% over multi-metre intervals while several holes were terminated in highly mineralized zones. No assays were completed for cobalt, platinum or palladium.
The focus of the 1955 Bellechase program was 250 metres to the southwest of the current copper-nickel-sulphide deposit creating a number of high-priority exploration targets for potential resource expansion drilling in 2021.
Project Geology
The orthomagmatic sulphide deposit at the Lac Pegma property is hosted within a gabbro to gabbro-ultramafic sill, intruded along the contacts of the Katsao Formation of Mesoproterozoic age. Based on drilling to date, the deposit presents as disseminated to net-textured, with local massive copper, iron and nickel sulphides. Greater accumulations of sulphide content and grades are associated with the basal portion of the intrusion.
These rocks are the equivalent of the
About
High Tide is a private corporation that is advancing its Labrador West iron property located in
The last exploration program completed on Lac Pegma was by Diadem Resources in 1996 drilling 84 short BQ-diameter diamond drill holes totalling a reported 7678 metres. In a report filed on
High Tide Resources has entered into a purchase agreement with
About
Avidian brings a disciplined and veteran team of project managers together with a focus on advanced stage gold exploration projects in
Contact:
Tel: (905) 741-5458
Email: sroebuck@avidiangold.com
Forward-Looking Information
This News Release includes certain 'forward-looking statements'. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as 'believes', 'anticipates', 'expects', 'estimates', 'may', 'could', 'would', 'will', or 'plan'. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from
those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.
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