Labrador Gold (TSXV: LAB) this morning continued to prove there is strong gold mineralization within Newfoundland. The company reported further drill results from its Kingsway project located near Gander, Newfoundland, highlighting an intersection of 44.08 g/t gold over 4.28 metres.
A total of ten additional drill holes were reported by the company this morning, all which are part of the firms 50,000 metre drill program conducted on the property. Four holes reportedly intersected mineralization stronger than 15 g/t gold. Highlight results from the program include:
- K-21-39: 44.08 g/t gold over 4.28 metres from 49.00 metres
- K-12-27: 7.43 g/t gold over 2.00 metres from 115.00 metres
- K-21-26: 15.55 g/t gold over 0.5 metres from 235.00 metres
- K-21-33: 40.85 g/t gold over 0.40 metres from 56.15 metres
Commenting on the results, Roger Moss, CEO of the company, highlighted, “The intersection of the near surface high grade gold mineralization in Hole K-21-39 has the highest-grade x width value of 188.66g/t Au x m obtained so far from our drilling at Kingsway. This is significantly better than the previous high of 138.28 g/t Au x m returned from Hole-21-31 and continues to demonstrate the potential for high-grade intercepts at the Big Vein target.“
The drill program at the Kingsway project remains on going, with drills currently focused on the Big Vein target. Currently 200 metres of the 400 metres of surface exposure of the vein has been tested to date, with visible gold being present in 11 holes.
Labrador Gold last traded at $1.15 on the TSX Venture.
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