Kingsway Pasture unless $9.5 m drilling can prove otherways
From the very recent TR.......
' There are risks and uncertainties toward advancement of the Kingsway Gold Project.
While the geological interpretations are reasonable, the structural complexity and continuity of mineralization are not fully understood on the prospects and are hampered by poor outcrop exposure.
The heterogeneity of gold grain size and spatial distribution of gold leads to low confidence toward interpreting continuity of mineralization over widely spaced drill intervals.
Gold in drill intercepts can have very high-grade gold in narrow veining surrounded by wider low-grade gold, gold grades are not capped on high-grade gold outliers and the true thickness of mineralization has not been estimated.
Although drill results are encouraging, further delineation drilling followed by a Mineral Resource Estimate calculation and metallurgical studies would better define the risk. ( $9.5 m )
The Gander River is a provincially protected and managed river with salmon pools and water shed.
Labrador Gold has obtained permitting through registration of an Environmental Assessment to drill within 100m buffer of the river but limits the ability to test closer to targets like Golden Glove.
There is no guarantee that the Company will be able to acquire the necessary permits toward future development of the Project."
My Summary
So, at least $29.5 million including $9,5 million for more delineation drilling plus administrative costs and bonus payments ...let's say $35 million altogether on what is obviously a very speculative guess that KW may contain some gold than current drilling cannot substantiate .
You can fix Stupid..