Tapestry options Labrador claims from Falconbridge, plans program

Vancouver-based Tapestry Ventures (TPV-V) will option the Florence Lake property of Falconbridge (FL-T).

The 430-claim property is in the Florence Lake area of Labrador, 150 km southeast of the Voisey’s Bay nickel-copper-cobalt project and 65 km southwest of the coastal community of Hopedale.

The property is underlain by an Archean greenstone belt straddling the boundary between the Makkovik and Nain geological provinces. Tapestry considers the property to have potential to host nickel, zinc-copper and gold deposits.

In 1995, exploration of the Seahorse property, which is surrounded by Falconbridge’s Florence Lake claims, revealed a significant zone of base metal mineralization that assayed up to 6.7% zinc, 1.65% lead and 7.88 grams silver per tonne. The Seahorse property is held by Tapestry and Portman Explorations (PXL-V)

Tapestry will soon evaluate exploration data collected by Falconbridge from the claims. Diamond drilling will follow.