Labrador Gold Corp. [LAB-TSXV] reported results of initial sampling from the area of visible gold in quartz vein at its 100%-optioned Kingsway Project near Gander, Newfoundland. The Kingsway Project is located within the highly prospective Gander gold district.
Assays from 70 grab samples taken over a 175-metre strike length of quartz vein northeast and southwest of the visible gold samples range from below detection (less than 5 parts per billion) to 1,065 g/t gold in sample 526089 containing visible gold. In addition, 16 samples assayed over 1.0 g/t gold and 39 samples assayed over 0.1 g/t gold. Grab sample highlights include 16.1 g/t gold, 7.2 g/t, 5.4 g/t and 5.3 g/t.
Prospecting and mapping have now expanded the northeast-southwest strike of Big Vein over approximately 400 metres. This vein lies within a larger corridor of intermittently exposed quartz veining over a strike length of 7.1 km.
“Initial assay results from the visible gold samples and the surrounding area indicate the presence of very high-grade gold at Kingsway,” said Roger Moss, President and CEO. “The strike length of the vein hosting the gold mineralization continues to grow as does the corridor of veining along strike of the mineralization. This is turning into a key target for drilling early in the New Year.”
“The discovery of shallow, high-grade, coarse visible gold in a recently uncovered veining corridor is a very exciting and significant milestone. Revealing a new gold occurrence after only months of acquiring the project is a strong testament to our exploration strategy and the potential of the Kingsway property. As we continue to advance this target to a drill-ready stage, our team continues to aggressively explore the remainder of the highly prospective property,” added Matthieu Lapointe, vice-president, exploration of Labrador Gold.