Vancouver-listed Diamond Fields Resources has discovered base metals mineralization containing nickel, copper and cobalt in southern Labrador. The nearest town is Happy Valley-Goose Bay.
The mineralized zone, which is directly associated with an ultra-mafic dyke, was identified during last year’s helicopter-supported, regional stream sampling program. Follow-up exploration work included geophysics and four core holes totaling 415 metres.
Assay results are expected shortly. However, the company points out that preliminary random sampling and assaying of the disseminated to semi-massive sulphide zones (intercepted in the core holes) returned “significant” values in nickel, copper and cobalt.
These partial results (which were not disclosed) and the geological setting prompted the company to increase its land position within the discovery area to about 1,000 sq. km.
“We would not have picked up that amount of ground if we did not think this was an important discovery,” Diamond Fields President Jean-Raymond Boulle told The Northern Miner.
The junior has an option to acquire 100% of the project, subject to a 3% net smelter royalty. The initial regional program was focused on both base metals and kimberlites; however, Diamond Field’s ongoing work will be directed to base metal targets within the land package.
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