Labrador Gold intersects high-grade mineralization 250 metres southwest of Big vein in Newfoundland

Labrador Gold (TSXV: LAB; OTC: NKOSF) has provided the latest assays from diamond drilling along the Appleton fault zone at its Kingsway project near Gander, Nfld. The company is the midst of a 100,000-metre drill program targeting the 12-km strike length of the fault zone.

The new assay results comprise 10 holes, all drilled at the Big vein target. Highlighted intercepts include 17.63 g/t gold over 1.25 metres (K-21-98) and 14.50 g/t gold over 1 metre (K-21-82), demonstrating the presence of additional high-grade gold mineralization, both down plunge and along strike. 

Hole K-21-98 is located approximately 250 metres southwest of the Big vein discovery outcrop, the furthest southwest high-grade intersection to date. The mineralization remains open in this direction, and additional holes have been drilled in this area, for which results are pending. 

Hole K-21-82 infills the down plunge mineralization of the HTC zone, which remains open below a 250-metre depth. Wider intervals of 1.25 g/t gold over 7.20 metres in hole K-21-82, and 1.82 g/t gold over 10.8 metres in hole K-21-81, were also intersected from the Big vein and HTC zones, respectively.

“We are encouraged by the intersection of high-grade mineralization in hole K-21-98, 250 metres along strike to the southwest,” Roger Moss, Labrador Gold's president and CEO, said. “We are currently tracking multiple gold-bearing quartz veins over this 250-metre strike length at Big vein. Mineralization remains open in both directions, to the northeast and southwest, and drilling will continue to step out in both directions as well as testing down plunge. Drilling is also ongoing at Golden Glove and the Pristine target and recently started at the Midway target.”

The ongoing drill program has now tested Big vein over approximately 250 metres of strike length and to vertical depths of 250 metres. A total of 37,393 metres of the planned 100,000 metres have been completed in 116 holes, primarily at Big vein.

Big vein represents one of two high-grade epizonal gold discoveries the company has made on the Kingsway property since optioning the project in early 2020. Drilling at Big Vein to date has resulted in several intersections containing visible gold with values up to 276 g/t over 0.5 metre.

More information on the Kingsway property is available at www.LabradorGold.com.