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Labrador Gold Intersects 2.32 g/t Au Over 18.6 Metres at Big Vein
TORONTO, March 02, 2023 (GLOBE NEWSWIRE) -- Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce results
About this update from Labrador Gold Corp
[{"type":"text","content":" TORONTO, March 02, 2023 (GLOBE NEWSWIRE) -- Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce results from recent drilling targeting the highly prospective Appleton Fault Zone over a 12km strike length. The drilling is part of the Company’s ongoing 100,000 metre diamond drilling program at its 100% owned Kingsway Project. Highlights of the drilling include an intersection of 1.19g/t Au over 41.8 metres from 397 metres that included 2.32g/t Au over 18.6 metres including 61.15g/t Au over 0.3 metres that contains visible gold in Hole K-22-214. This intersection, at 325 to 359 metres vertical, is the deepest yet at the HTC Zone which remains open at depth and to the northeast. Hole K-22-214 was abandoned in mineralization at 486 metres due to excessive fracturing. The hole was wedged as Hole K-22-214B which subsequently drilled through the entire mineralized zone and was completed at a depth of 676 metres. Assays are pending. Hole K-22-213 from Big Vein Southwest intersected 1.38g/t Au over 4.15m from 464 metres. “The long intersection at the HTC zone, significantly extending this zone to depth, is encouraging especially as we also continue to step out towards the northeast. We have also made significant step outs in recent holes to the southwest, with assays pending, such that Big Vein has now been drilled over a strike length of approximately 590 metres and remains open in both directions.” said Roger Moss, President and CEO. “Two rigs continue drilling at Big Vein to test for extensions of the mineralization to both the northeast and southwest.” Hole Id from (m) to (m) width (m) Au (g/t) Zone K-22-214 265.0 266.0 1.0 11.5 Big Vein 397.0 438.8 41.8 1.19 including 397.7 416.3 18.6 2.32 including 397.7 401.0 3.3 9.63 including 397.7 398.0 0.3 61.15 K-22-213 464.0 468.15 4.15 1.38 Big Vein Southwest including 466.36 468.15 1.79 2.81 Table 1. Summary of assay results. All intersections are downhole length as there is insufficient Information to calculate true width. Over 66,000 metres have been drilled to date out of the planned 100,000 metre program. Assays are pending for samples from approximately 3,000 metres of core. The Company has approximately $17 million in cash and is well funded to carry out the remaining 34,000 metres of the pla...