Labrador Gold Corp V.LAB

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Labrador Gold Higher After Saying it Intersected 50.52 g/t Gold Over 2 Metres at Kingsway

 

12 Jan 202210:21 ET

 

10:21 AM EST, 01/12/2022 (MT Newswires) -- Labrador Gold Corp. (LAB.V) was at last look up more than 2% in early trade on Wednesday after announcing high-grade intercepts of near surface gold mineralization along the Appleton Fault Zone at its Kingsway project.

The gold explorer said it drilled these holes as part of its ongoing 50,000 metre drill program. The 100% controlled Kingsway project is located near Gander in the highly prospective central Newfoundland gold belt.

Labrador Gold said high-grade gold continues to be found at Big Vein, including intercepts of 50.52 grams per tonne over 2 metres in hole K-21-76 from the HTC Footwall Zone.

Roger Moss, President and CEO of the company in a statement said drilling at the Big Vein Zone continues to turn up high-grade gold mineralization both down plunge and along strike. "We are very encouraged by the thickening of the Big Vein Zone to the southwest and look forward to results from many more holes drilled in this area. Drilling continues along strike to the southwest and down plunge at Big Vein. Drilling is also ongoing at the Pristine Target from which we are still awaiting the first assays," he added.