The Ashuanipi Project Consists of 1,564 Claims in ten claim blocks covering approximately 391 square kilometres. The project is located in Labrador, 35 km southwest of Schefferville, Quebec. The Town of Schefferville is an old iron mining town that has an airport with daily flights to Quebec City. The area is linked by rail to the port town of Sept Isles to the south.
Labrador Gold holds an option to earn 100% interest subject to cash and share payments and a 2% net smelter return royalty.
Exploration at Ashuanipi is targeting iron formation hosted gold in metamorphic rocks of the Archean age Ashuanipi Complex in Labrador, a similar setting to known gold occurrences in the Quebec portion of the Ashuanipi Complex.
The approximately 90,000km2 Ashuanipi Complex consists of a deformed, metamorphosed package of metasedimentary rocks and primitive, early tonalite cut by widespread orthopyroxene ± garnet granodiorite, as well as plutons of tonalite, granite, and syenite. Orthopyroxene is widespread throughout the eastern Ashuanipi complex, in paragneiss, tonalite, and diatexite. It occurs in association with biotite, garnet, and cordierite, defining granulite-facies metamorphic conditions.
Mafic and ultramafic rocks occur as isolated intrusions, sills, thin layers or dykes within the gneiss, the granitoid rocks and the diatexite. Felsic plutons are later intrusions that crosscut fabrics in other units. Pre- to post-tectonic granite, alkali-feldspar granite and alkali-feldspar quartz-syenite veins, and pegmatite also intrude most units.
The Ashuanipi claim block covers the strongest gold anomaly in lake sediments over a 300 x 400km area of northern Quebec and Labrador reported in GSC Open File 3828. This anomaly is stronger than that associated with known gold occurrences and advanced gold projects in northern Quebec and indicates excellent potential for the discovery of gold at Ashuanipi. Mineralization in the area consists predominantly of sulphide -bearing gossan zones hosted locally in gneisses and felsic intrusive rocks.
Initial work by Labrador Gold in 2017 outlined regional scale gold in soil and lake sediment anomalies over a 15-kilometer-long by 2 to 6 kilometer-wide north-south trend and over a 14-kilometer-long by 2 to 4 kilometer wide east-west trend.
Gold mineralization on the property occurs within garnet-bearing gneiss southeast of Lac Clugny (Lac Clugny Gold occurrence - MODS 023J/11/Au001). Values obtained from fourteen grab samples of bedrock range from a low of 8 ppb to a high of 410 ppb Au, and one sample assayed 1600 ppm As. Associated sulphide minerals include variable proportions of generally finely disseminated pyrite, arsenopyrite and local pyrrhotite.
Reconnaissance scale mapping and sampling during 2017 and 2018 by Labrador Gold resulted in several grab samples anomalous in gold, with values from below detection up to 2.11 g/t Au. Many of the anomalous samples were taken from gossanous outcrops.
An anomalous gold zone, outlined by Labrador Gold during 2019, measures approximately 450 metres by 450 metres and is defined by soil samples ranging from below detection up to 1,190ppb gold in addition to a high-grade 8.97g/t Au sample. Rock samples range from below detection up to 2.35g/t. The 2.35g/t rock sample lies approximately 450m northwest of the high-grade soil sample within a 200m by 100m gold in soil anomaly with values ranging from 40ppb to 778ppb gold.
A second area also shows potential, with rock samples grading from below detection to 0.68g/t gold and 10 samples showing values greater than 0.1g/t gold over an area of 200m by 120m within a larger anomalous area of gold in soil. The gold mineralization is associated with garnet-bearing gossanous gneiss.