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Labrador Gold Announces Initial Results of Soil Sampling at Kingsway Property
Highlights Gold concentration up to 2,203ppb (2.2g/t Au) with 50 samples greater than 100ppb (0.1g/t Au) Four areas of significant gold in soil anomalies with v
About this update from Labrador Gold Corp
[{"type":"text","content":" Highlights Gold concentration up to 2,203ppb (2.2g/t Au) with 50 samples greater than 100ppb (0.1g/t Au) Four areas of significant gold in soil anomalies with values up to 898ppb Au adjacent to Appleton Fault Zone Anomalies cover a total strike length of 2.1km and are coincident with a shear zone outlined over 2.5km TORONTO, Oct. 05, 2020 (GLOBE NEWSWIRE) -- Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce initial results of the soil sampling survey at its 77km2 Kingsway Project near Gander, Newfoundland. The Kingsway project is located within the highly prospective Gander Gold Belt along strike to the northeast of New Found Gold Corp’s gold discovery announced earlier this year. Soil sampling has now been completed with 7,740 soil samples collected over 16 grids. Results for 3,125 samples covering three grids on the Kingsway South license are reported here. Gold values in the soils range from below detection (<0.5ppb) to 2,203ppb with 50 samples assaying greater than 100ppb. The gold in soil anomalies tend to be associated with interpreted structures, including the Appleton Fault zone, Dog Bay line and splays or cross faults to these major crustal structures. Four northeast - southwest trending anomalies with gold values up to 898ppb and 11 samples with more than 100ppb occur adjacent to the Appleton fault zone over a combined distance of 2.1km. These anomalies are coincident with a shear zone in slate that appears to extend over approximately 2.5km based on field observations to date. The slate is carbonate altered in places and contains abundant quartz veining with local sericite alteration. Extensive sampling is currently underway along the shear zone. Several other significant gold in soil anomalies occur on the three grids including a 532m northeast trending anomaly adjacent to the Dog Bay line with gold values from 24ppb up to 339ppb. The highest gold value of 2,203 ppb occurs within a 390m east-west trending anomaly that also includes samples with 142, 241 and 311ppb Au. This anomaly is close to the Cracker gold showing where historical grab samples resulted in assays from 1.8g/t to 61.73g/t Au (see news release dated July 6, 2020 for details). “The initial results of the soil sampling survey have confirmed and expanded on the results of historical work. We ...