Labrador Gold intersects 20.15 metres of 1.81 g/t gold at Dropkick, Newfoundland

Labrador Gold Corp. [TSXV-LAB; OTCQX-NKOSF; FNR-2N6] announced 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, Newfoundland.

Final results from first stage drilling at DropKick include significant near surface gold mineralization of 20.15 metres grading 1.81 g/t gold from 50 metres, including 4.14 g/t gold over 4.5 metres in Hole K-23-248. Several near surface intervals were also intersected in Hole K-23-245, including 1.77 g/t gold over 5.15 metres from 31.85 metres downhole.

Holes K-23-245 and -248 represent a 67-metre step-out to the northeast. Hole K-23-254, a 136-metre step-out to the southwest, intersected 2.45 g/t gold over 4.1 metres from 108.9 metres, including an interval of 16.68 g/t gold over 0.3 metres that contained visible gold.

These latest intersections extend the known mineralization at Dropkick to over 360 metres strike length and it remains open in both directions. Twelve of the 15 holes drilled at Dropkick intersected gold mineralization with four holes containing visible gold.

“During the first phase of drilling at DropKick we demonstrated the presence of near surface gold over significant widths while increasing the strike length of known mineralization which remains open along strike in both directions. Further drilling is required to demonstrate the true potential of this discovery,” said Roger Moss, President and CEO of LabGold.

“Planning is currently underway for drilling in The Gap, between Big Vein and Pristine, and to the south of Big Vein towards the recent Knobby discovery. Drilling of targets in these areas is expected to begin before the end of the month. We are excited to start filling in the gaps between the four discoveries made along a 7 kilometre section of the Appleton Fault Zone at Kingsway.”

Follow up drilling at Pristine included an intersection of 1.05 g/t gold over 11 metres from 90 metres in Hole K-23-276 and 1.28 g/t gold over 6.18 metres from 66.47 metres in Hole K-23-272. Mineralization drilled to date at Pristine mostly occurs above 86 metres vertical depth and extends over a strike length of approximately 160 metres.

Ongoing drilling at Big Vein intersected 2.76 g/t gold over 8.97 metres from 233.56 metres, including 7.04 g/t over 3.09 metres in Hole K-23-278.

All intersections are downhole length as there is insufficient Information to calculate true width.

Almost 85,000 metres have been drilled to date out of the planned 100,000-metre program. Assays are pending for samples from approximately 6,100 metres of core.

The company has approximately $10 million in cash and is well funded to carry out the remaining 15,000 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 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 $10 million in working capital and is well funded to carry out the planned program.

The Hopedale property covers much of the Florence Lake greenstone belt that stretches over 60 km. The belt is typical of greenstone belts around the world but has been underexplored by comparison. Work to date by Labrador Gold show gold anomalies in rocks, soils and lake sediments over a 3-km section of the northern portion of the Florence Lake greenstone belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8 g/t gold.

In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 km along the southern section of the greenstone belt. Labrador Gold now controls approximately 40km strike length of the Florence Lake Greenstone Belt.

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