Labrador Gold Granted Clearance to Kingsway Project Target Areas

Labrador Gold Corp. has announced that it has secured all the…

Labrador Gold Corp. has announced that it has secured all the licenses needed to drill two target locations along the potential Appleton Fault Zone at its 100% owned Kingsway Project.

Labrador Gold Granted Clearance to Drill Target Areas in the Kingsway Project
LabGold discoveries along the Appleton Fault Zone. Image Credit: Labrador Gold

LabGold has been granted licenses to drill The Gap, located between Big Vein and Pristine, as well as the region between Big Vein and the property’s southern limit (Kingsway South).

The Gap stretches for around 700 m along the Appleton Fault Zone between Big Vein and Pristine, two occurrences where LabGold discovered high-grade near-surface gold. Both occurrences are still accessible to the northeast and southwest, and drilling is planned. The Gap is intended to connect Pristine to the southwest with Big Vein to the northeast.

If this is accomplished, the entire strike length will be around 1.7 km. Drilling from Big Vein will follow the Black Shale North Fault, an NNE trending splay off the Appleton Fault that has been linked to gold at Big Vein. Similarly, drilling from Pristine will extend southwest along the Disco Fault.

The Kingsway South area includes the recently discovered Knobby occurrence, which is located 1.1 km southwest of Big Vein and yielded gold values ranging from below detection (<5 ppb) to 30.58 g/t, including samples grading 2.7g/t and 29.19 g/t Au. Th knobby is made up of three parallel quartz veins that have been traced for around 200 m along the strike. In the quartz veins, stibnite mineralization was detected.

We have been waiting to drill targets at The Gap and Kingsway South along the Appleton Fault Zone and are pleased to have the permits in place to be able to do so. Knobby is a priority target since the east-west strike crosscuts the regional northeast trend like structures known to host high-grade gold in quartz veins elsewhere in the district. This trend differs from those at Big Vein, Pristine and Dropkick which are closer to the stratigraphic trend and represents a new target at Kingsway, one that we are excited to begin testing.

Roger Moss, President and Chief Executive Officer, Labrador Gold Corp.


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *