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Labrador Gold Provides Update on Kingsway Project
Highlights: Review of historical work as well as more recent exploration over the past four years shows excellent potential for a gold mineralized system at Kin
About this update from Labrador Gold Corp
[{"type":"text","content":" Highlights: Review of historical work as well as more recent exploration over the past four years shows excellent potential for a gold mineralized system at Kingsway. Historical work showing subangular gold grains recovered from till samples indicate a source of 100 to 500 metres up ice. A sub-angular boulder of quartz vein containing visible gold recovered from a trench with gold grains in till assayed 168 g/t Au. The source of the boulder has not been found. TORONTO, May 13, 2020 (GLOBE NEWSWIRE) -- Labrador Gold Corp. (TSX-V: LAB) (“LabGold” or the “Company”) is pleased to provide an update on its Kingsway Property near Gander, Newfoundland. The two claim blocks that comprise the Kingsway Property cover over 14 kilometres of strike length of the potential extension of the Appleton fault zone which is associated with many of the gold showings, including the new discovery (downhole drill intersection of 92.86g/t Au over 19 metres), on New Found Gold’s Queensway project to the south. (Note that mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property). Since the Company acquired the option to acquire a 100% interest in the property (see news release dated March 3, 2020) it has been compiling historical data from work completed between 1989 and 2005. More recent exploration over the past four years has confirmed and expanded on this historical data and indicates the potential for a gold mineralized system at Kingsway. Historical sampling of glacial till over the southern claim block showed gold values from below detection (<5ppb) to 89,000ppb (89g/t Au) in heavy mineral concentrates with 8 samples assaying over 10,000ppb (10g/t Au). Gold anomalies in the concentrates extend over three kilometres along the Appleton fault zone. Panning of till samples for gold grains showed between 2 and 13 grains in five samples from the south claim block and between 6 and 26 gold grains in six samples from the north claim block. Shape analysis of the gold grains showed many of them to be subangular, suggesting that they did not travel far from their source which was estimated to be between 100m and 500m up ice. In addition, trenching in the vicinity of the high gold values in heavy mineral concentrates uncovered a subangular boulder of quartz vein containing vi...