Business
Labrador Gold Intercepts 50.38 g/t Over 1.85 Metres Including 160.42 g/t Over 0.55 Metres at Big Vein, Kingsway Project, Newfoundland
TORONTO, June 22, 2021 (GLOBE NEWSWIRE) -- Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce another
About this update from Labrador Gold Corp
[{"type":"text","content":" TORONTO, June 22, 2021 (GLOBE NEWSWIRE) -- Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce another high-grade intercept of near surface gold mineralization from its Kingsway project near Gander, Newfoundland. The Kingsway project is located in the highly prospective central Newfoundland gold belt. The high-grade intersection is from hole K-21-17 that contains fine particles of visible gold in quartz vein. The hole intersected 50.38 g/t Au over 1.85 metres including 160.42 g/t over 0.55 metres. The quartz vein containing the visible gold is typically vuggy and locally contains stylolites and is similar to quartz veins containing high grade gold intersections of 20.6 g/t Au over 3.6 metres including 103.36 g/t over 0.3 metres and 10.48 g/t Au over 2.4 metres reported previously (see news release dated June 3, 2021). The intersection in hole K-21-17 represents a 30 metre step out to the northeast from the previous intercepts and extends the high-grade mineralization to approximately 40 metres along strike. The mineralization remains open in both directions. A summary of the high-grade intersection, as well as other assays received to date, are given in Table 1 below. Table 1. Assay highlights Hole ID From To Length Au (g/t) K-21-17 71.85 73.7 1.85 50.38 Including* 71.85 72.4 0.55 160.42 K21-11 10 35 25 0.58 K-21-10 4.85 31 26.15 0.8 including 6 7.61 1.61 1.66 including 20 25 5 1.33 174.6 175.35 0.75 2 K-21-09 7.22 9.9 2.68 1.14 43 45 2 1.28 K-21-08 3.5 41.2 37.7 1.06 including 16 17 1 9.82 and 31 39.2 8.2 1.32 K-21-07 67 69 2 4.64 Including* 68 69 1 7.97 *Interval contains visible gold. All intersections are downhole length as there is insufficient Information to calculate true width. “We are excited to see additional near surface high-grade gold assays, the highest to date, from our early drilling at Big Vein,” said Roger Moss, President and CEO of the Company. “We are extending the high-grade mineralization along strike and getting a handle on its plunge. Adding extra drills will allow us to aggressively test Big Vein as well as to follow up targets developing along the quartz vein corridor.” Table 2. Drill hole Collar details Hole ID Easting Northing Azimuth Inclination Total Depth K-21-07 661578 5435207 120 45 116 K-21-08 661567 5435191 176 45 101 K-21-...