Labrador Gold (TSXV:LAB) Announces Results From Appleton Fault Zone, Intersects 20.88 g/t Au Over 5 Metres at Big Vein

Figure 1. Big Vein plan map. Source: Labrador Gold

Labrador Gold (TSXV:LAB) has announced new results from its ongoing drilling targeting the Appleton Fault Zone over a 12-kilometre strike length. The drilling at the site is part of the company’s 100,000-metre diamond drill program at the Kingsway Project.

Results included an intersection of 20.88 g/t Au Over 5 Metres at Big Vein, and 124.21g/t Au over 0.81 metres and 7.41 g/t Au over 1.0 metres in Hole K-22-206, and 6.04 g/t Au over 1.20 metres in Hole K-22-208, also drilled at the north end of Big Vein.

63,055 metres out of the planned 100,000 have been drilled so far, with assays pending for 2,700 of core samples. Labrador Gold also has approximately $18 million in cash and is funded to complete the remaining 37,000 metres of the program. The company will add further exploration targets on the property to add to the pipeline after the program is completed.

Roger Moss, President and CEO of Labrador Gold, commented in a press release: “We continue to follow up on the success of last year’s drilling at Big Vein with another high-grade intersection at the north end of the zone. Big Vein has now been drilled over a strike length of approximately 520 metres along the west side of the Appleton Fault Zone and remains open to the northeast and to the southwest. Drilling is ongoing at both ends of the zone to extend the strike length of the mineralization.”

Table 1. Summary of assay results. All intersections are downhole length as there is insufficient Information to calculate true width.

Hole ID From (m) To (m) Interval (m) Au (g/t) Zone
K-22-208 116.00 118.00 2.00 1.07 Big Vein
  176.58 178.12 1.54 5.00
including 176.58 177.78 1.20 6.04
K-22-206 24.00 25.00 1.00 1.13 Big Vein
  319.00 320.00 1.00 7.41
  371.00 376.00 5.00 20.88
including 374.56 375.37 0.81 124,213
K-22-204 nsv       CSAMT
K-22-203 nsv       Golden Glove

 

Table 2. Drill hole collar details

Hole ID Easting Northing Elevation (m) Azimuth Dip Total depth (m)
K-22-208 661571 5435366 58 145 50 497
K-22-206 661593 5435331 54 155 60 422.11
K-22-204 666713 5443698 50 295 55 482
K-22-203 660958 5432372 40 108 45 520.38

 

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

By Matthew Evanoff

I cover the mining industry and the best mining stocks around the world. I write about industry news, individual companies, projects, management, and profiles on industry leaders.

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