Star Metro - High Tide Resources Initiates High-Resolution Drone Magnetic Survey at Labrador West Iron Project

Steve Roebuck, President & CEO of High Tide, commented: "Launching the drone magnetic survey marks another important step in expanding our understanding of the eastern portion of the property. This area has seen very limited exploration despite a 2010 IOC drill hole intersecting nearly 100 metres of 26.2% Fe. Prospecting has broadened the scope of potential drill targets, and this survey will help refine those opportunities with the high-resolution magnetic data. The data collected will directly support our targeting strategy as we advance toward the next phase of drilling and continue to build long‑term value for the Project."

Drone Magnetic Survey Now Underway

The drone magnetic survey is being flown over the eastern portion of the property, covering approximately 1,460 hectares. The program is designed to generate high‑resolution magnetic data capable of mapping near‑surface magnetite-specular hematite iron oxide mineralisation and is and upgrade to the widely spaced historical Total Magnetic Intensity data collected regionally by IOC in 2001.

Key technical details include:

• Approximately 704 line‑kilometres of magnetic data acquisition

  • Line spacing: 25 metres

  • Please see Map 1 for area being flown

• The survey is expected to support the detailed interpretation and delineation of iron oxide mineralisation.

  • Data will directly guide the refinement of exploration drill targets.

Expanding the Exploration Footprint

The eastern portion of the property remains underexplored, with a single drill hole and regional geophysical surveys comprise the limited historical work:

• A single drill hole in 2010 (10LB0011) intersected ~100 metres of 26.2% Fe, demonstrating strong iron mineralisation potential.

  • Please see Map 2 for location of drill hole.

• Since that time, minimal exploration has been conducted.

• High Tide's prospecting has significantly expanded the number and scale of potential drill targets beyond the current resource footprint.

About High Tide

High Tide is focused on and committed to the development of mineral projects critical to infrastructure development using industry best practices combined with a strong social license from local communities. High Tide owns a 100% interest in the Labrador West Iron Project which hosts a NI 43-101 Inferred iron resource of 655 Mt @ 28.84% Fe and is located adjacent to IOCC's Carol Lake Mine in Labrador City, NL. This resource is exposed at surface and was pit constrained for an open-pit mining scenario. The Technical Report was filed on SEDAR on April 6, 2023 and was authored by Ryan Kressall M.Sc., P.Geo, Matthew Herrington, M.Sc., P.Geo, Catharine Pelletier, P.Eng. and Jeffrey Cassoff P.Eng.

The Company also owns a 100% interest in the Lac Pegma copper-nickel-cobalt deposit located 50 kilometres southeast of Fermont, Quebec.

Further details on the Company, including a NI 43-101 technical report on the Labrador West Iron property can be found on the Company's website at https://hightideresources.com/.

Qualified Person

The technical information contained in this news release has been approved by Steve Roebuck,

P.Geo., Director, President and CEO of High Tide, who is a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."

For further information, please contact:
Steve Roebuck
Director, President & CEO
Email: [email protected]

Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward looking information

This news release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, developing the Labrador West Iron Project into the next stage of development, the Company's objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: commodity prices supply chain disruptions, restrictions on labour and workplace attendance and local and international travel, failure to receive requisite approvals in respect of the foregoing, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

SOURCE: High Tide Resources Corp.

View the original press release on ACCESS Newswire

M.Anderson--SMC