Labrador Gold and Nemo collaborate on Ontario exploration project

Labrador Gold and Nemo Resources person signed an statement to signifier a associated task (JV) to research the Watson Project successful north-western Ontario, Canada.

Elementary Minerals, which holds 127,100 hectares (ha) of mineral claims successful the Fort Hope greenstone belt, volition spearhead the collaboration.

This region, portion of the Uchi Subprovince, is importantly little explored than neighbouring belts specified arsenic Red Lake and Pickle Lake, and offers imaginable for golden and captious minerals including antimony, nickel, copper and zinc.

Nemo volition negociate the operations of the JV, with the exploration strategy overseen by a method committee composed of representatives from some Labrador Gold and Nemo.

Labrador Gold has provided $1.5m (C$2.03m) successful backing to Elementary Minerals to enactment staking efforts and aboriginal exploration activities.

The Elementary Minerals committee volition see 2 nominees from Labrador Gold and 1 from Nemo.

The Watson Project encompasses the largest landholding successful the Fort Hope greenstone belt, known for its Archean greenstone geology featuring mafic and felsic volcanic rocks on with sedimentary sequences.

These formations are intruded by felsic-to-intermediate plutonic rocks and big important banded robust formations wherever golden occurrences person been identified but stay untested connected the eastbound Watson property.

Elementary's exploration plans for 2026 see conducting an airborne survey followed by ungraded sampling to find important golden deposits.

A projected roadworthy to Ontario's Ring of Fire portion is expected to statesman operation mid-2026, offering imaginable outgo reductions for exploration and improvement erstwhile completed.

Under the presumption of the agreement, Nemo has transferred 314 mining claims covering 6,300ha, on with related data, to Elementary successful speech for 4 cardinal communal shares, representing a 20% stake.

Labrador Gold has received 16 cardinal communal shares for its fiscal contributions, securing an 80% involvement successful Elementary Minerals.

Labrador Gold VP exploration Ryan Weston said: “We are precise excited astir this accidental with Elementary. We spot outstanding exploration imaginable astatine Watson, wherever favourable geology converges with large structural corridors that person historically received lone constricted base‑metal exploration.

“The beingness of important high‑grade, BIF [banded robust formation]‑hosted golden mineralisation successful the occidental loop powerfully reinforces our exploration thesis. The district-scale onshore bundle comprises implicit 127,000ha of prospective greenstone belt, which we program to systematically surface for large-scale mineral deposits.”