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High Tide Reports 128.9 Metres at 30.2% Fe and 179.6 Metres at 26.7% Fe from Labrador West

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FAQSIR News Desk
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High Tide Resources Corp. (CSE:HTRC) has reported its second batch of assay results from the Labrador West Iron Project in Newfoundland and Labrador, including intervals of 128.9 Metres grading 30.2% Fe and 179.6 Metres grading 26.7% Fe.

#Drilling extends beyond existing resource boundary

The company said 11 of the drill holes reported to date were outside the current mineral resource boundary. High Tide said these results are expected to be considered when an updated mineral resource estimate is prepared later this year.

High Tide also reported that DDH 26LB0072 returned greater than 20% FeT across over 77% of its 347m drill-hole length. The company said this result is above the cut-off used in the existing mineral resource estimate.

#Current exploration programme

High Tide said 25 drill holes had been completed, with two additional holes in progress. Total drilling exceeded 6150 metres of HQ & NQ core, averaging roughly 250 metres per hole. The company said results from 13 drill holes had so far intersected iron oxide mineralization.

Significant FeT (%) values are described as weighted length averages of continuous total iron greater than 18%, with intervals up to 9 metres below that grade included. The company estimates true widths at 80 to 90% of drill core lengths.

#Project location and existing resource

The Labrador West Iron Project is located 20 km northeast of and adjacent to Iron Ore Company of Canada's Carol Lake Mine complex in Labrador City, Newfoundland & Labrador. High Tide states that the project hosts a NI 43-101 Inferred mineral resource of 655 Mt at 28.84% Fe, based on a technical report dated April 6, 2023.

The resource is exposed at surface and was pit constrained for an open-pit mining scenario. High Tide also owns a 100% interest in the Lac Pegma copper-nickel-cobalt deposit, located 50 kilometres southeast of Fermont, Quebec.

#Assay procedures and quality control

Activation Laboratories in Ancaster, Ontario, completed the assays. High Tide describes ActLabs as independent of the company. The release states that sample standards were submitted every 20th sample as part of quality control and quality assurance procedures consistent with CIM best practice methods.

Steve Roebuck, P.Geo., High Tide's director, president and chief executive officer, approved the technical information and is identified as a Qualified Person under National Instrument 43-101.

#Regional infrastructure context

The company describes the Labrador West area as having access to hydroelectricity, highways, skilled labour and a common-carrier railway. High Tide states that the railway has 80 million tonnes per year of capacity for transporting iron products to the deep-water port of Sept-Îles, Quebec.

The release also refers to a July 21, 2026 announcement involving the governments of Newfoundland and Labrador, Quebec and Canada. Under that agreement, the federal government committed over $1 billion to construction of a Labrador West transmission line intended to support new mining and industrial projects in the Labrador Trough. High Tide notes that the transmission line may not progress as currently expected or at all, and that required approvals may not be received.

#Risks and forward-looking information

High Tide said statements concerning future plans, mineral resource growth or potential, project development, transmission infrastructure, exploration results, mineralization, resource estimates, mine development, operating timelines and market conditions are forward-looking information. The company said actual events and results could differ materially from those expressed or implied, and that no assurance can be given that the described events will occur within the stated time frames or at all.

The risks identified by the company include commodity prices, supply chain disruptions, labour and travel restrictions, governmental and environmental approvals, political risks, obligations relating to First Nations and other Indigenous peoples, future financing availability and costs, equity-market changes, inflation, exchange-rate movements, project delays, and capital and operating costs differing significantly from estimates.

High Tide also identifies the possibility of failing to identify or expand mineral resources, convert resources to reserves, complete a feasibility study recommending a production decision, obtain required project approvals, or advance the Labrador West transmission line. The company further notes that metallurgical test results are preliminary and that additional risks apply to mineral exploration and development.

#Key Takeaways

  • High Tide reported assay intervals of 128.9 Metres at 30.2% Fe and 179.6 Metres at 26.7% Fe from the Labrador West Iron Project.
  • The company said 11 drill holes were outside the existing resource boundary.
  • High Tide reported 25 completed drill holes, two in progress and total drilling exceeding 6150 metres of HQ & NQ core.
  • DDH 26LB0072 returned greater than 20% FeT across over 77% of its 347m drill-hole length, according to the company.
  • The company identified regulatory, financing, infrastructure, resource-development and operational risks affecting its forward-looking information.

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Frequently Asked Questions

High Tide Resources Corp. (CSE:HTRC) has provided its second set of assay results from the project. The headline reports 128.9 Metres of 30.2% Fe and 179.6 Metres of 26.7% Fe. The company said that 11 of the drill holes were outside the existing resource boundary. The release also states that significant Fe T (%) values are weighted length averages of continuous total iron greater than 18%, allowing for intervals up to 9 metres in width below this grade, and that true widths are estimated to be 80 to 90% of drill core length.
The company said it had completed 25 drill holes, with two more in progress. Total drilling exceeded 6150 metres of HQ & NQ core, averaging roughly 250 metres per hole. The company reported that 13 drill holes had intersected iron oxide mineralization. The release does not provide a completed drilling schedule beyond these statements.
High Tide states that the Labrador West Iron Project hosts a NI 43-101 Inferred mineral resource of 655 Mt at 28.84% Fe, based on the company’s technical report dated April 6, 2023. The resource is described as exposed at surface and pit constrained for an open-pit mining scenario. The company said the drill holes outside the existing resource boundary would be relevant when it comes to the updated mineral resource estimate later this year. The release also identifies risks including failure to expand or identify additional mineral resources and failure to convert estimated mineral resources to reserves.
The project is located 20 km northeast of, and adjacent to, the Iron Ore Company of Canada’s Carol Lake Mine complex in Labrador City, Newfoundland & Labrador. The release describes access to hydroelectricity, a highway, skilled labour and a common-carrier railway. It states that the railway has 80 million tonnes per year of capacity for transporting iron products to the deep-water port of Sept-Îles, Quebec. The release also refers to a July 21, 2026 announcement under which the federal government committed over $1 billion to construction of a Labrador West transmission line, while noting that the planned transmission line could fail to progress as currently expected or at all, and that required approvals may not be received.
The release states that assays were completed at Activation Laboratories in Ancaster, Ontario, which it describes as independent of High Tide. It says analysis followed a specific sample preparation protocol and analysis regime, and that sample standards were submitted every 20th sample for quality control and quality assurance consistent with CIM best practice methods. The technical information was approved by Steve Roebuck, P.Geo., identified as a Qualified Person under National Instrument 43-101.
The company states that it owns a 100% interest in the Labrador West Iron Project and a 100% interest in the Lac Pegma copper-nickel-cobalt deposit, located 50 kilometres southeast of Fermont, Quebec. The release does not provide a mineral resource estimate for the Lac Pegma deposit.
The release says forward-looking information is subject to risks and uncertainties and that actual events, results, performance, prospects and opportunities could differ materially from those expressed or implied. It identifies commodity prices, supply chain disruptions, labour and travel restrictions, required governmental and environmental approvals, political risks, the duty to accommodate First Nations and other indigenous peoples, future financing availability and costs, changes in equity markets, inflation, exchange rates, project delays, and capital and operating costs varying significantly from estimates. It also identifies risks relating to failure to expand mineral resources, failure to convert resources to reserves, inability to complete a feasibility study recommending a production decision, the preliminary nature of metallurgical test results, and the development of projects. The company states that no assurance can be given that the events described will occur in the disclosed time frames or at all.