Labrador Gold Intercepts 50.38 g/t Over 1.85 M At Kingsway Project
Labrador Gold Corp. (TSXV:LAB | OTCQX:NKOSF) has drilled another high-grade intercept of near surface gold mineralisation from its Kingsway project near Gander, Newfoundland. The Kingsway project is located in the highly prospective central Newfoundland gold belt.
The high-grade intersection is from hole K-21-17 that contains fine particles of visible gold in quartz vein. The hole intersected 50.38 g/t Au over 1.85m including 160.42 g/t over 0.55m.
The quartz vein containing the visible gold is typically vuggy and locally contains stylolites and is similar to quartz veins containing high grade gold intersections of 20.6 g/t Au over 3.6m, including 103.36 g/t over 0.3m and 10.48 g/t Au over 2.4m.
President and CEO, Roger Moss, said the intersection in hole K-21-17 represents a 30m step out to the northeast from the previous intercepts and extends the high-grade mineralisation to approximately 40m along strike. The mineralisation remains open in both directions.
“We are excited to see additional near surface high-grade gold assays, the highest to date, from our early drilling at Big Vein,” Mr Moss said.
“We are extending the high-grade mineralisation along strike and getting a handle on its plunge. Adding extra drills will allow us to aggressively test Big Vein as well as to follow up targets developing along the quartz vein corridor.”
The Big Vein target is an auriferous quartz vein exposed at surface that has been traced over 400 metres at surface along the Appleton Fault Zone. It lies within a larger northeast-southwest trending “quartz vein corridor” that stretches for over 7.5 km as currently outlined with potential for expansion along the Appleton Fault Zone in both directions.
Gold mineralisation 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 current drill programme, recently increased to 50,000m, has only tested Big Vein over approximately 100m of strike length of the 400m surface exposure and vertical depths of 50m.
However, drilling has already produced visible gold in four drill holes giving high grade intercepts as well as wide areas of gold mineralisation associated with significant quartz veining and sulphide mineralisation including arsenopyrite, pyrite and possible boulangerite noted along vein margins and as strong disseminations in the surrounding wall rocks.
For further information please visit: https://labradorgold.com/