Labrador Gold drills 5.22 g/t gold over 2.8 metres at Kingsway, Newfoundland

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Labrador Gold Corp. [LAB-TSXV; NKOSF-OTCQX; 2N6-FSE] released results from recent drilling targeting the highly prospective Appleton fault zone. The drilling is part of the Company’s ongoing 100,000-metre diamond drilling program at its 100%-owned Kingsway Project located approximately 18km northwest of the town of Gander, Newfoundland.

Highlights of the drilling include an intersection of 5.22 g/t gold over 2.80 metres from 418.6 metres that included 22.02 g/t gold over 0.4 metres in Hole K-22-214B which also included 8.62 g/t gold over 0.7 metres from 496 metres.

This hole was a wedge off Hole K-22-214 that was previously abandoned in mineralization at 486 metres due to excessive fracturing after intersecting 1.19 g/t gold over 41.8 metres from 397 metres that included 2.32 g/t gold over 18.6 metres, including 61.15 g/t gold over 0.3 metres. Thes two holes form part of a new mineralized zone, the Greenmantle Zone, that lies below the HTC Zone at a vertical depth of 415 metres.

Hole K-23-225, a 100-metres step-out to the northeast intersected 1 g/t gold over 10.1 metres from 46.9 metres, that included an interval of 2.28 g/t over 2.26 metres containing visible gold.

The Big Vein SW zone was extended a further 60 metres to the southwest with intersections of 3.69 g/t gold over 2.97 metres from 389.41 metres including 12.05 g/t gold over 0.59 metres in Hole K-23-216 and 1.95 g/t gold over 9 metres including 8.97 g/t gold over 1.6 metres in Hole K-23-218.

“Our aggressive step outs to the northeast and southwest continue to intersect gold mineralization at Big Vein which has now been extended to 722 metres in strike length and remains open in both directions. In addition, the discovery of the Greenmantle zone demonstrates the potential for continued mineralization at depth,” said Roger Moss, President and CEO. “Recent 3D modelling has given us a much better understanding of the structural complexity and controls on gold distribution at Big Vein. Mineralization is closely associated with splays off the Appleton Fault Zone which we now believe to run through Big Vein. This interpretation will guide our drilling as we seek to continue to expand Big Vein along strike and at depth.”

Over 69,000 metres have been drilled to date out of the planned 100,000 metre program. Assays are pending for samples from approximately 3,500 metres of core.

The company has approximately $15 million in cash and is well funded to carry out the remaining 31,000 metres of the planned drill program as well as further exploration to add to the current pipeline of drill targets on the property.

Labrador Gold’s flagship property is the 100%-owned Kingsway project in the Gander area of Newfoundland. The three licenses comprising the Kingsway project cover approximately 12 km of the Appleton Fault Zone which is associated with gold occurrences in the region, including those of New Found Gold immediately to the south of Kingsway. 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 170,009,979 common shares issued and outstanding.


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