Labrador Gold drills 5.9 metres of 10.63g/t gold at Big Vein, Kingsway project, Newfoundland

Labrador Gold Corp. [TSXV-LAB; OTCQX-NKOSF; FNR-2N6] reported results from recent drilling targeting the highly prospective Appleton Fault Zone. The drilling is part of the company’s 100,000-metre diamond drilling program at its 100%-owned Kingsway Project, Newfoundland.

The latest results include holes drilled at the NE extension of Big Vein, Knobby and a follow up hole in the new HM occurrence.

Hole K-23-309 drilled at Big Vein intersected several intervals over the length of the hole including 10.63 g/t Au over 5.9 metres from 139.1 metres downhole that included 46.72g/t over 1 metre in the Big Vein Zone; 1.41g/t Au over 2 metres from 251 metres and 2.2g/t Au over 8.3 metres from 282 metres that included 12.07g/t Au over 0.8 metres in the HTC Zone.

The hole extended both zones by 25 metres along strike to the northeast.

Hole-24-336 followed up the initial intersection at HM (38.37g/t Au over 0.8 metres) with a 25-metre step-out to the northwest and intersected near surface mineralization grading 9.29 g/t Au over 1.38 metres from 60.62 metres that included 25.22 g/t over 0.5 metres.

Two follow up holes at Knobby intersected gold mineralization. Hole K-23-298 intersected 6.05 g/t Au over 0.4 metres from 89.9 metres, and hole K-23-310 intersected 8.04 g/t Au over 0.6 metres from 80.9 metres.

“We are pleased with the high-grade gold over significant widths intersected at Big Vein and by the number of separate gold bearing intervals in the hole that intersected both the Big Vein and HTC Zones. Both zones were extended 25 metres to the northeast with this hole,” said Roger Moss, President and CEO of Labrador Gold.

“The high-grade results from the step-out hole at HM are also encouraging given the early stage of drilling there and they demonstrate the potential for another significant gold occurrence. The HM occurrence is the seventh to be found by the LabGold team since we started work on the property and continues to show the significant prospectivity of the area around the Appleton Fault Zone which runs for 12km through the Kingsway property.”

Almost 92,000 metres have been drilled to date out of the 100,000-metre program. Assays are pending for 4,000 samples. The company has approximately $7 million in cash.

The three licenses comprising the Kingsway project cover approximately 12km of the Appleton Fault Zone which is associated with numerous gold occurrences in the region. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water. LabGold is drilling a projected 100,000 metres targeting high-grade epizonal gold mineralization along the Appleton Fault Zone with encouraging results. The company has approximately $7 million in working capital.

The company has 170,009,979 common shares issued and outstanding.