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10:28 AM EST, 12/29/2021 (MT Newswires) -- Labrador Gold Corp. (LAB.V) on Wednesday provided a review of its exploration activities along the Appleton Fault Zone and an update on plans for 2022 at the Kingsway project in Newfoundland. Highlights from the drilling program at Kingsway that began early April include high grade intersections of 276.56 g/t Au over 0.5 meter in hole K-21-31 and 75.86 g/t Au over 1 meter in hole K-21-49 from the Big Vein zone; and 44.08 g/t Au over 4.28 meters in hole K-21-39 and 128.51 over 1.12 g/t Au in hole K-21-47 from the HTC Zone. Prospecting at the Appleton Fault Zone led to the discovery of the Golden Glove occurrence on the east side about 3.4 kilometers southwest of Big Vein, the company said. The occurrence consists of an outcrop of quartz vein containing visible gold that assayed from 2.99 g/t Au to 338.08 g/t Au. Soil sampling, ground magnetics and VLF-EM have been carried out in the Golden Glove area to assist in drill targeting with results expected early in the new year. Diamond drilling began in November at a target called Pristine, which returned 165 and 311 gold grains of which 96% and 83%, respectively, were pristine. Labrador Gold plans to explore the entire 12-kilometer strike length of the Appleton Fault Zone in 2022, including continued diamond drilling at Big Vein and the Pristine target, initial drilling at Golden Glove and upgrading of gold anomalies and generation of new targets. As of Dec. 24, the company had $30.8 million in cash and a market cap of $124.5 million. Price: 0.78, Change: -0.03, Percent Change: -3.70 |