Labrador Gold (TSXV:LAB) has reported data from its recent drill tests in the Appleton Fault Zone. The tests are part of Labrador Gold’s ongoing 100,000-metre diamond drilling program at its wholly-owned Kingsway Project.
Roger Moss, President and CEO of Labrador Gold, commented in a press release: “Today’s result of high-grade, near surface gold mineralization at Pristine validates our belief that there is more to be found at Pristine. It is also the third discovery along the Appleton Fault Zone, after Big Vein and Dropkick, to produce such high grades associated with visible gold. Following our initial discovery of near surface visible gold at Pristine announced in May 2022, we did not intersect similar high-grades to those seen at Big Vein. As a result, we returned our focus to expanding Big Vein along strike and at depth and have successfully defined mineralization there over a 720-metre strike length. With near surface mineralization at Pristine now drilled over an approximate 160 metre strike length and the potential for high grades demonstrated, we are looking forward to receiving the permit to drill The Gap between Pristine and Big Vein, a distance of approximately 700 metres, as we continue to focus our drilling along the very prospective Appleton Fault Zone.”
The latest results from the Pristine site show a notable intersection of 11.98g/t Au spanning 6 metres from a depth of 91 metres, including an impressive 30.61g/t over 2.33 metres and 82.2g/t over 0.75 metres. Remarkably, Hole K-22-270 contained 77 grains of visible gold. All the mineral deposits identified at Pristine are situated above a vertical depth of 86 metres, covering an approximate strike length of 160 metres.
Initial drilling results from the DropKick site revealed 1.15g/t Au over 12.4 metres from a depth of 190.25 metres and 1.46g/t Au over 6.75 metres from 162.25 metres in Holes K-23-231 and K-23-251, respectively.
At the Big Vein site, the tests showed 1.10g/t Au over 9.3 metres from a depth of 195 metres and 1.47g/t Au over 6.55 metres from 107.88 metres in Holes K-23-246 and K-23-237, respectively.
To date, Labrador Gold has completed almost 83,000 metres of its proposed 100,000-metre drilling. Assessment results are awaited for approximately 8,877 metres of the core samples.
With a financial reserve of about $12 million, Labrador Gold is well-prepared to complete the remaining 17,000 metres of its drilling plan and to continue exploration for more potential drill targets within the property.
Highlights from the results are as follows:
|Hole ID||From (m)||To (m)||Interval (m)||Au (g/t)||Zone|
|K-23-229||nsv||Big Vein SW|
|K-23-226||nsv||Big Vein SW|
Table 1. Summary of assay results. All intersections are downhole length as there is insufficient Information to calculate true width.
|Hole ID||Easting||Northing||Elevation||Azimuth||Inclination||Total Depth|
Table 2. Drill hole collar details