Labrador Gold (TSXV:LAB) Reports 2.02 G/T Au Over 32 Metres at Appleton Fault Zone in the Kingsway Project

Labrador Gold (TSXV:LAB) has announced new results from ongoing drilling targeting the Appleton Fault Zone over a 12-kilometre strike length at the 100% owned Kingsway Project. the 

Highlights of the drilling include an intersection of 2.02 g/t Au over 32 metres from 134 metres that included 18.08 g/t Au over 0.63 metres and 11.42 g/t Au over 1.05 metres in Hole K-22-177 from the north end of Big Vein. The intersection is approximately 75 metres north of the discovery outcrop. In addition, Hole K-22-187 at Big Vein southwest intersected 12.84 g/t Au over 0.8 metres from 341 metres.

The last results from initial drilling at Midway showed an intersection of 5.69 g/t Au over 1.33 metres in Hole K-22-171. Further drilling is planned at Midway to test the continuity of gabbro-hosted mineralization along strike towards Cracker.

Source: Labrador Gold Corp.

Labrador Gold is a Canadian-based mineral exploration company focused on Eastern Canada. The Kingsway Project is the flagship project for the company, associated with gold occurrences in the area including the occurrences immediately to the south of the Kingsway project found by New Found Gold. 

Source: Labrador Gold Corp.

Roger Moss, President and CEO of Labrador Gold, commented in a press release: “Drilling at Big Vein continues to deliver excellent results with the longest mineralized intersection of 32 metres grading 2.02 g/t gold drilled on the property to date. We are currently testing this intersection down dip. The intersection is approximately 30 metres north of another long intercept of 6.07 g/t Au over 19m in hole K-21-111. Big Vein has now been drilled over a strike length of approximately 520 metres and remains open both to the northeast and southwest. Two rigs continue drilling at Big Vein to test for extensions of the mineralization in both directions.”

Highlights from the results are as follows: 

  • Hole K-22-177 intersected 2.02 g/t Au over 32 metres including 18.08 g/t Au over 0.63 metres and 11.42 g/t Au over 1.05 metres.
  • Mineralization at Big Vein remains open along strike to the southwest and northeast.
  • Drilling also intersected high-grade mineralization at Big Vein southwest grading 12.84 g/t Au over 0.8 metres.
Source: Labrador Gold Corp.
Hole ID From (m) To (m) Interval (m) Au (g/t) Zone
K-22-187 157.80 158.25 1.20 1.08 Big Vein SW
  328.55 328.85 0.30 3.27
  341.00 341.80 0.80 12.84
K-22-184 140.26 140.59 0.33 2.89 Big Vein SW
  336.25 337.89 1.64 2.69
K-22-180 nsv       CSAMT
K-22-179 72.00 72.76 0.76 1.08 Golden Glove
K-22-178 nsv       Big Vein SW
K-22-177 8.00 9.00 1.00 1.01 Big Vein
  93.74 94.55 0.81 1.11
  134.00 166.00 32.00 2.02
including 142.77 143.40 0.63 18.08
and 158.95 160.00 1.05 11.42
  212.00 215.00 3.00 2.63
  245.00 248.00 3.00 3.60
  265.00 266.00 1.00 1.73
K-22-176 nsv       Golden Glove
K-22-175 63.00 65.00 2.00 1.48 Big Vein
  230.00 232.00 2.00 2.87
K-22-174 296.00 297.49 1.49 3.65 Big Vein SW
  407.00 407.30 0.30 3.24
K-22-173 11.00 12.00 1.00 1.04 Big Vein
  16.00 17.00 1.00 1.38
  50.00 51.00 1.00 2.23
K-22-172 nsv       CSAMT
K-22-171 194.50 198.00 3.50 1.44 Midway
  201.17 202.50 1.33 5.69
K-22-170 11.00 12.00 1.00 1.10 HTC
  35.00 44.00 9.00 1.42
  218.00 219.00 1.00 1.01
K-22-169 nsv       Golden Glove
K-22-168 165.91 166.21 0.30 1.01 Midway
  217.90 218.40 0.50 1.82
K-22-167 57.00 62.00 5.00 1.90 Big Vein
K-22-166 nsv       Midway
K-22-165 243.00 244.00 1.00 1.05 Golden Glove

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

A total of 52,648 metres have been drilled to date out of the planned 100,000 metre program. Assays are pending for samples from approximately 3,343 metres of core (11% of the total submitted).

Drilling at Kingsway continues with four drill rigs, two working at Big Vein, one at Golden Glove and one at the CSAMT target. Ongoing detailed till sampling and prospecting continues to generate new drill targets along the Appleton Fault Zone and the gabbro trend north and south of Midway. Drilling will begin on these targets once initial drilling at CSAMT is complete.

The Company has $23.6 million in cash and is well funded to carry out the remaining 47,000 metres of the planned drill program as well as further target generation on the property.

Hole ID Easting Northing Elevation Azimuth Dip Total depth
K-22-187 661343.8 5434926 44.151 130 50 374
K-22-184 661343.9 543496.4 44.481 130 45 428
K-22-180 666592.3 5443605 46.42 140 45 278
K-22-179 660543 5431776 45.79 320 45 401
K-22-178 661343 5434926 44.352 140 50 404
K-22-177 661594 5435327 45.7 145 50 826
K-22-176 660541 5431776 45.857 290 45 401
K-22-175 661598 5435287 51.683 120 57.5 308
K-22-174 661343.3 5434926 44.289 140 45 476
K-22-173 661599.9 5435287 51.001 120 55 93
K-22-172 666591.7 5443606 46.42 310 45 278
K-22-171 661254.7 5437924 78.349 140 45 247
K-22-170 661599.9 5435286 51.096 120 45 299
K-22-169 660627.7 5431879 44.55 280 55 401.44
K-22-168 661255.8 5437937 77.432 310 45 264.75
K-22-167 661599.3 5435286 51.32 130 55 296
K-22-166 661202.7 5437880 77.473 140 45 260
K-22-165 660626 5431881 44.596 280 45 398

Table 2. Drill hole collar details

 

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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