Labrador Gold drills 1.12 metres of 128.51 g/t gold at Kingsway project, Newfoundland

Labrador Gold drills 1.12 metres of 128.51 g/t gold at Kingsway project, Newfoundland
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VANCOUVER – Labrador Gold Corp. [LAB-TSXV; NKOSF-OTC] reported further high-grade intercepts of near-surface gold mineralization along the Appleton fault zone at its 10%-controlled Kingsway project near Gander, Newfoundland. These holes were drilled as part of the company’s 50,000-metre drill program. The Kingsway project is located in the highly prospective central Newfoundland gold belt.

Three holes K-21-47, -48, and -49 all contained intervals grading more than 12 g/t gold. Hole K-21-47 intersected 128.51 g/t gold over 1.12 metres from 168 metres in the HTC Zone which represents a “metal factor” (grade x width) of 143.9 g/t gold x metres. Hole K-21-48 intersected 35.7 g/t gold over 1.55 metres from 12.22 metres and hole K-21-49 intersected 9.6 g/t gold over 10 metres from 51 metres, including 76.86 g/t gold over 1 metre.

Both intersections in holes K-21-48 and -49 are in the Big Vein Zone. The width used to calculate metal factor is downhole width as there is insufficient information to calculate true width.

“We continue to be encouraged by the high-grade gold mineralization intersected in the HTC Zone. The intersection in hole K-21-47 is the deepest of the +100 g/t gold x metres intervals drilled to date,” said Dr. Roger Moss, President and CEO. “The two high-grade intercepts of 35.7 g/t and 75.86 g/t gold in the near surface Big Vein Zone are also significant, as they are approximately 150 metres apart and demonstrate that the high grades persist along strike to the southwest. Drilling continues to test this trend to the southwest.”

The Big Vein target is an auriferous quartz vein exposed at surface that has been traced over 400 metres at surface along the Appleton Fault Zone. It lies within a larger northeast-southwest trending “quartz vein corridor” that stretches for over 7.5 km as currently outlined, with potential for expansion along the 12-km strike length of the Appleton Fault Zone in both directions. Gold mineralization observed at Big Vein includes visible gold in quartz veins, assays of samples from which range from 1.87 g/t to 1,065 g/t gold.

The ongoing 50,000-metre drill program has tested Big Vein over approximately 200 metres of strike length of the 400-metre surface exposure and to vertical depths of 175 metres. Drilling has produced visible gold in 11 drill holes giving high grade intercepts as well as wide areas of gold mineralization associated with significant quartz veining and sulphide mineralization, including arsenopyrite, pyrite and possible boulangerite noted along vein margins and as strong disseminations in the surrounding wall rocks.

 

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