LaSalle Set to Drill Goldhawk and Goldhawk Extension Zone Radisson Property, Quebec

LaSalle Exploration Corp. is pleased to report that diamond drilling is set to test the Goldhawk Zone and Goldhawk Extension trend on its Radisson Property ("Radisson" or the "Property") located in the Eeyou Istchee - James Bay Territory, Québec. The drilling is part of an ongoing winter campaign which began in late January on the adjacent Serpent property of Harfang Exploration Inc. ("Harfang").

LaSalle and Harfang announced on January 6, 2022 a definitive Arrangement Agreement pursuant to which Harfang will acquire all of the issued and outstanding shares of LaSalle. The transaction will be carried out by way of a plan of arrangement under the Business Corporations Act (British Columbia) and is subject to approval of LaSalle shareholders at a Special Meeting set for March 30, 2022. 

"We are excited to begin our follow-up drill program at Radisson for additional testing of the Goldhawk trend," said Ian Campbell, President and CEO of LaSalle. "The Goldhawk Zone returned highly encouraging gold drill intercepts from all four holes on our initial test last summer which confirmed the prospectivity of the Goldhawk mineralized structure. Furthermore, we extended the zone an additional 1,200 metres to the northwest with the discovery of the Goldhawk Extension where grab samples returned up to 37.40 g/t and 12.45 g/t gold. The Goldhawk structure lies within the northern extension of the high-grade gold corridor that has now been traced over 8 kilometres on both Radisson and the adjoining Harfang Serpent property."

Goldhawk was initially identified by surface prospecting late in the 2020 field season with the discovery of high-grade gold mineralization including 64.5 g/t and 37.1 g/t gold from grab sampling. Initial testing with four holes drilled in 2021 intersected the structure at shallow depths ranging from 50 to 100 metres vertical over a strike length of 300 metres. All holes intersected highly encouraging results, for example: 

• 22.40 metres grading 1.64 g/t gold including 11.98 metres grading 2.69 g/t gold, 
• 1.0 metre grading 17.15 g/t gold, 
• 6.0 metres grading 3.01 g/t gold including 1.0 metre grading 10.35 g/t gold.

The Goldhawk Zone occurs within a district sized gold enriched deformation corridor that has been identified over 2 kilometres on Radisson and extends for an additional 6 kilometres onto the adjoining Harfang Serpent property.

In the Goldhawk area, the high strain zone hosting the gold mineralization is up to 50 metres wide, strikes northwest at ~300o and is characterized by multiple, parallel, mineralized shear zones including the Main, North and South Goldhawk shear zones. These contain steeply dipping quartz veins that vary from a few centimetres up to 2 metres in width, with up to 5% disseminated pyrite, hosted in an altered diorite complex that also hosts the high-grade gold occurrences on the adjacent Harfang Serpent property. 

Late in 2021, the Goldhawk Extension was discovered along strike to the northwest, adding an additional 1,000 metres to the Zone. The Goldhawk Extension, defined by several quartz veins up to 1 metre wide with up to 5% pyrite hosted in sheared diorite, returned 0.53 to 37.4 g/t gold from grab samples over a strike length of 600 metres. These samples have similar metal associations to the Goldhawk Zone, which includes silver grades up to 2.7 g/t, anomalous tungsten, molybdenum and lead.

The upcoming drill program will test the northwest extension of the main Goldhawk Zone with 300 metre step-outs with the intent to extend the zone in areas of little outcrop (Figure 1) and to identify any parallel structures in this highly prospective area.

Figure 1

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6809/116612_lasalle.jpg

Update on LaSalle and Harfang Plan of Arrangement

On March 10, 2022 LaSalle announced that it had received an interim order from the Supreme Court of British Columbia authorizing the holding of the Special Meeting to pass a special resolution to approve the proposed plan of arrangement, and that the meeting materials had been filed on www.sedar.com and mailed to shareholders of record as of February 16, 2022. The Special Meeting will be held on March 30, 2022 and the proposed transaction, if approved by shareholders, is expected to close in early April.

In conjunction with the proposed arrangement, on February 4, 2022, Harfang completed a private placement of subscription receipts for aggregate gross proceeds of $4.25M, which will be converted to post consolidation common shares of Harfang upon completion of the arrangement. 

In addition to a robust cash position, the combination of LaSalle and Harfang will result in a strengthened portfolio of exploration properties from which to unlock shareholder value and the platform for further project consolidations and grow opportunities.

The Board asks Shareholders to complete their proxies as soon as possible and recommends that they vote FOR the Arrangement Resolution.

For more information, please refer to the noted news releases and the disclosure documents filed on www.sedar.com.

Field Work and COVID-19 Protocols

The health and safety of the staff at site, and the communities in which the Company operates, is of paramount importance to LaSalle. All employees and contractors work according to the most recent government protocols on COVID-19 restrictions, which define the measures and constraints to be adopted in order to limit the risks associated with COVID-19, ensuring the health and safety of everyone involved in the exploration programs.

Tags: Quebec / Exploration / Gold / All Articles