Bullboard - Stock Discussion Forum Labrador Gold Corp V.LAB

Alternate Symbol(s): NKOSF

Metals & Mining Gold

Labrador Gold Corp. is a Canada-based mineral exploration company. The Company is focused on the acquisition and exploration of prospective gold projects in Eastern Canada. The Company’s properties include Hopedale Property, Borden Lake Property, and Scotch Property. The Hopedale property comprises 998 claims on five licenses covering 249 square kilometers of the Florence Lake greenstone belt... see more

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Labrador Gold Corp > We are very excited to start drilling at Golden Glove

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Post by knoxt on Mar 01, 2022 8:39am

We are very excited to start drilling at Golden Glove

Labrador Gold Receives Drill Permit for Golden Glove and Mobilizes Fifth Drill Rig

01 Mar 202208:00 ET

GlobeNewswire

Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) ("LabGold" or the "Company") is pleased to announce that it has received a diamond drill permit for the Golden Glove target at its 100% controlled Kingsway project near Gander, Newfoundland. As such, the Company has mobilized a fifth diamond drill to start the drilling as soon as possible. The Kingsway project is located in the highly prospective central Newfoundland gold belt.

Gold mineralization was discovered at Golden Glove during the fall of 2021. The mineralization consists of visible gold in an outcrop of quartz vein hosted in shales. Assays of grab samples from the quartz vein range from 2.99 to 338.08 g/t Au and include assays of 194.28 g/t, 193.69 g/t and 83.61 g/t Au (see News Release dated September 21, 2021). This represented the second discovery of high-grade gold at, or near, surface along the Appleton Fault Zone after Big Vein.

While there are many similarities between the mineralization at Golden Glove and Big Vein, a significant difference is that while Big Vein occurs on the west side of the Appleton Fault, Golden Glove is situated on the East Side. This will be the first drilling on the east side of the fault on the Kingsway Property.

With the addition of the fifth drill rig, LabGold now has five drills on site, two drilling at Big Vein, two drilling at the Pristine Target and the fifth starting soon at Golden Glove (See Figure 1).

"We are very excited about the start of drilling at Golden Glove, not only because of the high-grade samples recovered from the outcrop, but also because we are drilling on the east side of the Appleton Fault Zone," said Roger Moss, President and CEO of the Company. "We know from results of drilling at New Found Gold's Queensway Project that the east side of the fault seems to produce higher grade and longer intervals than the west side. This will be LabGold's first test of mineralization on the east side of the fault and we are keen to see if the same holds true at Kingsway."

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