- Labrador Gold (LAB) released results from recent drilling targeting the prospective Appleton Fault Zone over a 12 km strike length
- The drilling is part of the company’s ongoing 100,000-metre diamond drilling program at its 100 per cent owned Kingsway Project in the Gander area of Newfoundland
- 20.88 g/t Au were intersected over 5.0 metres that included 124.21g/t Au over 0.81 metres and 7.41 g/t Au over 1.0 metre in Hole K-22-206, and 6.04 g/t Au over 1.20 metres in Hole K-22-208. Both holes were drilled at the north end of Big Vein
- Labrador Gold Corp. (LAB) is up 1.82 per cent, trading at $0.28 per share at 11:00 a.m. ET
Labrador Gold (LAB) released results from recent drilling targeting the prospective Appleton Fault Zone over a 12 km strike length.
The drilling is part of the company’s ongoing 100,000-metre diamond drilling program at its 100 per cent owned Kingsway Project in the Gander area of Newfoundland.
20.88 g/t Au were intersected over 5.0 metres that included 124.21g/t Au over 0.81 metres and 7.41 g/t Au over 1.0 metre in Hole K-22-206, and 6.04 g/t Au over 1.20 metres in Hole K-22-208. Both holes were drilled at the north end of Big Vein.
Assay results summary:
| Hole ID | From (m) | To (m) | Interval (m) | Au (g/t) | Zone |
| K-22-208 | 116.00 | 118.00 | 2.00 | 1.07 | Big Vein
|
| 176.58 | 178.12 | 1.54 | 5.00 | ||
| including | 176.58 | 177.78 | 1.20 | 6.04 | |
| K-22-206 | 24.00 | 25.00 | 1.00 | 1.13 | Big Vein
|
| 319.00 | 320.00 | 1.00 | 7.41 | ||
| 371.00 | 376.00 | 5.00 | 20.88 | ||
| including | 374.56 | 375.37 | 0.81 | 124,213 | |
| K-22-204 | nsv | CSAMT | |||
| K-22-203 | nsv | Golden Glove |
Labrador Gold’s President and CEO, Roger Moss, said the team continues 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.”
He added that drilling is ongoing at both ends of the zone to extend the strike length of the mineralization.
A total of 63,055 metres have been drilled to date, and assays are pending for samples from 2,700 metres of core. The company has $18 million in cash, enough to carry out the remaining 37,000 metres and for exploration to add to the pipeline of drill targets.
Labrador Gold is a Canadian mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada.
Labrador Gold Corp. (LAB) is up 1.82 per cent, trading at $0.28 per share at 11:00 a.m. ET.