MONTREAL, May 23, 2018 (GLOBE NEWSWIRE) -- Harfang Exploration Inc. (“ Harfang ” or the “ Company ”) (TSX-V: HAR ) is pleased to announce the acquisition of 132 mining claims (Lake Aulneau Property) located in the Labrador Through (Nunavik, Québec). The property encompasses 6 copper (Cu), nickel (Ni), platinum (Pt) and palladium (Pd) prospects and showings, namely Marymac I, Lepage, Island, Redcliff, Float, and Nine South. The entire property staked by map designation covers 6,202 hectares and is 100%-owned by Harfang. The property is located 125 km south of Kuujjuaq and 265 km north of Schefferville. Mainly focused on gold exploration in Eeyou Istchee James Bay, Harfang acquired the property as part of its diversification program both in terms of geographical regions and commodities.
Historical resources were published in previous exploration reports for 4 of the previously-mentioned mineralized occurrences. They include 1,088,000 Mt @ 2.02% Cu, 0.45% Ni, 1.0 g/t Pt and 3.1 g/t Pd for the Lepage and Island zones combined, 1,068,000 Mt @ 2.09% Cu and 0.51% Ni for the Redcliff prospect, and 133,000 Mt @ 2.10% Cu and 0.43% Ni for the Float prospect (Figure 1 attached ) . These estimates are treated as historic information and have not been verified by the Company. These are considered historical Mineral Resources and do not refer to any category of sections 1.2 and 1.3 of the NI-43-101 Instrument such as Mineral Resources or Mineral Reserves as stated in the 2014 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the Company to verify the data acquired by the various historical drilling campaigns and other sampling works. The qualified person has not done sufficient work yet to classify the historical estimates as current Mineral Resources or Mineral Reserves. The Company is not treating these historical estimates as current mineral resources. These resources were calculated from diamond drillholes completed in the 1970’s and 1980’s. Anomalous gold and silver values are locally associated to Ni-Cu-Pt-Pd occurrences.
The Labrador Through is known to host significant Cu-Ni-Pt-Pd lenses associated to mafic and ultramafic sills emplaced in the Murdoch Formation. Most of the mineralization on the Lake Aulneau Property, which shares similarities to the geological setting at the Raglan Mine (Nunavik), is hosted in these sills. Minor mineralization also extends into adjacent volcanic and sedimentary rocks. The last drilling campaign was done in 1988. Since then, exploration activity in the area was limited to the resampling of a few narrow intervals in drillcores, brief prospecting phases and 2 airborne magnetic and electromagnetic surveys completed in 2003 and 2011. Both geophysical surveys outlined the conductive nature of known sulfide zones including the delineation of on-strike areas of conductance. However, based on published statutory reports, few work was accomplished on electromagnetic conductors outlined in 2003 and no follow up was done on anomalies detected in 2011.
Harfang will proceed to a geological compilation to enhance the full potential of this sector and generate exploration targets.
About Harfang
Harfang is a mining exploration company whose primary mission is to discover new gold districts in the province of Québec. Harfang’s development model is based on the generation of new mining projects and on the establishment of partnerships with major exploration and mining companies to advance its exploration projects.
This press release has been prepared by François Goulet, P.Geo., President and CEO, a “qualified person” as defined by NI 43-101. For further information, please consult Harfang's website.
François Goulet, President and Chief Executive Officer Tel: 514 940-0670 #339 Email : fgoulet@harfangexploration.com Web : www.harfangexploration.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in Harfang’s periodic reports including the filings made by Harfang from time to time with securities regulatory authorities.
