Labrador Gold (TSXV:LAB) Provides Kingsway Project Update as Company Nears Completion of 100,000-Metre Drilling Program

Figure 1. Plan map of Dropkick drill holes showing highlights of latest results. Source: Labrador Gold Corp.

Labrador Gold (TSXV:LAB), has reported data from its ongoing diamond drilling program at its wholly-owned Kingsway Project, aimed at exploring the Appleton Fault Zone. The company has completed nearly 85,000 metres of the scheduled 100,000-metre drilling initiative. Assays for approximately 6,100 metres of core samples are still pending.

Roger Moss, President and CEO of LabGold commented in a press release: “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. 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. The 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.”

The first stage of drilling at the DropKick site revealed notable near-surface gold mineralization. Specifically, Hole K-23-248 yielded 1.81 grams per tonne (g/t) of gold over 20.15 metres from a 50-metre depth, which included a 4.5-metre segment grading at 4.14 g/t. Hole K-23-245 also intersected near-surface intervals, with 1.77g/t Au over 5.15 metres from 31.85 metres downhole. Additional drilling data extended the known mineralized area at DropKick to over 360 metres in strike length, which remains open in both directions. Twelve out of 15 drilled holes at DropKick showed gold mineralization, with four containing visible gold.

In the Pristine area, follow-up drilling resulted in an intersection grading at 1.05g/t Au over 11 metres from 90 metres in Hole K-23-276 and 1.28g/t Au over 6.18 metres from 66.47 metres in Hole K-23-272. Mineralization at Pristine mostly occurs above an 86-metre vertical depth and extends over a strike length of about 160 metres.

At the Big Vein site, ongoing drilling intersected 2.76g/t Au over 8.97 metres from 233.56 metres, including a segment that graded at 7.04g/t over 3.09 metres in Hole K-23-278.

The company reported having roughly $10 million in cash, which is expected to cover the remaining 15,000 metres of the planned drilling program and additional exploration.

Figure 2. Plan map of occurrences with selected drill intersections along the Appleton Fault Zone. Source: Labrador Gold Corp.

Highlights from the results are as follows:

Hole ID	From (m)	To (m)	Interval (m)	Au (g/t)	Zone
K-23-278	233.56	242.53	8.97	2.76	Big Vein
including	236.00	239.09	3.09	7.04	Big Vein
K-23-276	90.00	101.00	11.00	1.05	Pristine
including	92.95	97.80	4.85	1.82	Pristine
K-23-272	66.47	72.65	6.18	1.28	Pristine
including	68.00	70.80	2.80	2.33	Pristine
K-23-260	156.57	160.00	3.43	1.06	Pristine
K-23-259	67.50	68.35	0.85	1.22	Pristine
K-23-254	108.90	113.00	4.10	2.45	DropKick
including	108.90	110.80	1.90	4.56
including	109.40	109.70	0.30	16.68
K-23-253	nsv				Big Vein
K-23-252	53.00	91.00	38.00	0.55	Big Vein
including	60.00	64.00	4.00	1.28
and	73.00	74.00	1.00	1.11
K-23-249	nsv				Big Vein
K-23-248	50.00	70.15	20.15	1.81	DropKick
including	55.00	70.15	15.15	2.32
including	58.00	70.15	12.15	2.72
including	59.90	64.40	4.50	4.14
K-23-247	126.70	128.00	1.30	1.32	Big Vein
	198.00	198.95	0.95	1.20	Big Vein
K-23-245	10.00	12.65	2.65	1.16	Dropkick
	31.85	37.00	5.15	1.77
including	35.00	36.35	1.35	3.17
	44.80	45.60	0.80	1.34
	53.00	54.50	1.50	1.04
	89.00	103.00	14.00	0.60
including	91.95	94.00	2.05	1.42
	192.00	193.15	1.15	1.90
	250.25	251.15	0.90	1.32
K-23-244	29.00	33.00	4.00	1.10	Big Vein
K-23-243	nsv				DropKick
K-23-242	224.43	225.16	0.73	1.88	Big Vein
K-23-241	nsv				Big Vein

Table 1. Summary of assay results. All intersections are downhole length as there is insufficient Information to calculate true width.

Hole ID	Easting	Northing	Elevation	Azimuth	Inclination	Total Depth
K-23-278	661736	5435392	37	130	65	420
K-23-276	661927	5436072	56	275	65	200
K-23-272	661933	5436069	59	315	65	278
K-23-260	661750	5435872	58	0	90	209
K-23-259	661845	5436001	53	300	45	191
K-23-254	663159	5438126	55	140	45	160.55
K-23-253	661554	5435459	45	20	45	160
K-23-252	661450	5435312	54	125	70	349
K-23-249	661272	5435093	62	145	65	379
K-23-248	663408	5438381	52	140	65	173
K-23-247	661553	5435458	50	125	50	233
K-23-245	663409	5438380	53	140	45	259
K-23-243	663353	5438273	58	140	65	131
K-23-244	661589	5435430	49	140	45	228
K-23-242	661321	5435111	52	145	55	307
K-23-241	661450	5435312	53	125	50	250

Table 2. Drill hole collar details

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.


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