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.

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.

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.

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. 

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.

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.

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.