Labrador Gold Corp. (“LabGold” or the “Company”) is pleased to announce results from recent prospecting along the highly prospective Appleton Fault Zone at its 100% owned Kingsway Project.
Location of Knobby occurrence between Big Vein and Golden Glove. Image Credit: Labrador Gold Corp.
New prospecting between Big Vein and Golden Glove around the southern property boundary has located a new gold showing the Knobby occurrence.
Grab samples collected from quartz vein outcrops yielded gold values ranging from below detectable levels (<5 ppb) up to 30.58 g/t.
Noteworthy samples include those with grades of 0.4 g/t, 2.7 g/t, and 29.19 g/t Au. The presence of three parallel veins was observed, exhibiting an east-west strike spanning approximately 200 meters.
Additionally, there was an observable association of stibnite mineralization with the quartz veining. This marks the initial identification of gold mineralization within the Appleton Fault Zone, situated between Big Vein and Golden Glove. It is worth highlighting that this region has undergone limited exploration efforts thus far.
Today’s results of high-grade, surface gold mineralization in quartz vein outcrops between Big Vein and Golden Glove is very encouraging for the prospectivity of this 3-kilometer section of the Appleton Fault Zone. This is an area that we have prioritized for drilling in the latter part of this year once we complete an ongoing ground magnetic/VLF survey and receive the necessary permits. We are excited by the discovery of the Knobby occurrence which is reminiscent of our initial discovery of Big Vein by prospecting almost three years ago.
Roger Moss, President and CEO, Labrador Gold Corp.
Prospecting is ongoing in the area of the Knobby occurrence and Groundtruth Exploration is in the process of completing a ground Mag/VLF survey that extends from the southern property boundary to Big Vein. LabGold has applied for approval to drill up to 95 drill holes along this portion of the Appleton Fault Zone.