In February 2023, High Tide released its maiden mineral resource estimate of 655Mt @ 28.8% Fe in the Inferred Resource category for its Labrador West Iron Project. 

Director and Interim CEO, Steve Roebuck:

“This is a major milestone for High Tide and we are extremely pleased with the results of the maiden Mineral Resource Estimate. The deposit is robust, starts at surface and has great potential to grow in size. We have a very strong project that should prove appealing to both strategic partners and investors alike. The southern Labrador Trough produces some of the cleanest iron concentrates and pellets in the world, and with demand increasing, and industry pivoting to green iron and green steel, High Tide is very well positioned to be a leader in the next generation of high-quality low-carbon iron projects globally.”

The Labrador Trough Advantage

High Tide Resources is focused on its flagship Labrador West Iron Project located in the southern Labrador Trough set amongst 4 operating iron mines including; Rio Tinto & Mitsubishi’s Carol Lake Mine, Champion Iron’s Bloom Lake Mine, ArcelorMittal’s Mont-Wright Mine and Tacora Resources’ Scully Mine.

The Labrador Trough of western Labrador and adjoining Quebec constitutes Canada’s primary iron producing district and is host to world-class deposits that have been mined for more than half a century. These have produced over 2 billion tonnes of iron ore to date and are considered to have very significant growth potential. The district is very well served with all the required infrastructure in place including low-cost renewable hydroelectric power, capacity on both a common carrier rail and port facilities at Sept Isles, modern towns and skilled workers.

The Labrador West Iron Project is comprised of one mineral licence (99 mineral claims), 2,475 hectares in size. The area was explored and drilled by Rio Tinto Exploration from 2010 to 2012, and then by High Tide Resources in 2020 & 2022. To date, approximately 7,500 m of core in 27 completed holes has been drilled on the property.

Table 1: Significant Iron Intercepts of Oxide-Facies Iron Formation from 2022 Drill Program

The path forward for the Project will focus on increasing knowledge and confidence levels while reducing risk. Additional infill and step-out drilling will target expansion of the resource in size and its upgrading from the current Inferred category to Indicated and eventually Measured categories, while providing more critical geological information required for further deposit modelling and detailed metallurgical studies. The results of metallurgical testing completed so far indicate a quality concentrate product can be achieved using gravity separation techniques, with results that are comparable to similar iron mining projects in the region.

Technical Report

2023-01-31
High Tide Resources NI 43-101 Report Mineral Resource Estimate Labrador West Iron

2020-11-20
High Tide Resources NI 43-101 Report Labrador West Iron