- Labrador Gold has begun drilling at its Kingsway Gold Project
- The company controls 100 per cent of the project, located near Gander, Newfoundland
- The project is located within the highly prospective Gander Gold District
- The company acquired the option to earn 100 per cent interest in the property in March 2020
- Labrador Gold is up 3.85 per cent on the day, with shares trading at C$0.54 at 11:28 am ET
Labrador Gold has begun drilling at its Kingsway Gold Project.
The company controls 100 per cent of the project, located near Gander, Newfoundland.
The project is located within the highly prospective Gander Gold District and along strike from New Found Gold’s high-grade Queensway Project.
The company is currently carrying out a 10-metre diamond drill program.
The first hole drilled “collared in dark grey to black interlaminated siltstone and shale of the Davidsville group,” according to the company.
“Our drilling program is off to an encouraging start with the first hole intersecting two zones of significant quartz veining and sulphide mineralization. The presence of vuggy quartz, stylolites, arsenopyrite and possible boulangerite are all indications that we are in the targeted epizonal gold system,” said Labrador Gold President and CEO Roger Moss.
The project contains the Big Vein target, an “auriferous quartz vein exposed at surface that has been traced over 400 metres to date. Gold mineralization observed at Big Vein includes six occurrences of visible gold, assays of samples from which range from 1.87g/t to 1,065g/t gold. The visible gold is typically hosted in annealed and vuggy gray quartz, that is locally stylolitic with vugs often containing euhedral quartz infilling features characteristic of epizonal gold deposits.”
Labrador Gold is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada.
Labrador Gold acquired the option to earn a 100 per cent interest in the Kingsway project in early March 2020.
Labrador Gold is up 3.85 per cent on the day, with shares trading at C$0.54 at 11:28 am ET.
