Labrador Gold Corp. (TSXV: LAB) announced today the first intercepts of near-surface gold assays from its Kingsway project near Gander, Newfoundland. Results come from the firms Big Vein target, which has been the focus of the current program.
Highlight intercepts from the drilling program include:
- K-21-12: 20.60 g/t gold over 3.6 metres, including 103.36 g/t gold over 0.3 metres
- K-21-14: 10.48 g/t gold over 2.4 metres
Labrador Gold has previously announced that it has added a second drill rig at the Kingsway drill program, doubling the scope to 20,000 metres. The program follows up on the gold mineralization observed at the Big Vein with assays of samples ranging from 1.87 g/t to 1,065 g/t gold. The company said the program has already produced visible gold in four drill holes as well as wide areas of gold mineralization.
The company relayed that it expects to follow up on the recent assays “with two drill rigs continuing to test Big Vein along strike.” The program has so far tested the vein tested over an 80 metre strike length of the surface exposure and to vertical depths of 50 metres.
Labrador Gold Corp. last traded at $1.16 on the TSX Venture.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.