Labrador Gold Corp. reports that diamond drilling is ongoing at its wholly-owned Kingsway Gold Project next to Gander, Newfoundland. The Kingsway project is situated inside the highly prospective Gander Gold District and along strike from the high grade Queensway Project of New Found Gold.
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Named K-21-01, the first hole collared in dark gray to black interlaminated siltstone and shale of the Davidsville group.
A sulfide mineralized zone measuring around 20 m consisting of quartz breccia, distributed quartz-carbonate veinlets and regular decimeter-scale quartz veining with related fine-grained disseminated arsenopyrite and pyrite was sectioned between 43 and 63 m downhole.
After the dark gray-black shale, the hole sectioned a series of pale green shale hosting meter-scale quartz veining. The veining contains bright white-smokey gray, vuggy quartz with silica flooding, local stylolites, intense sericitization and breccias.
Fine-grained arsenopyrite, pyrite and a Sb-Pb-bearing sulfide, confirmed by pXRF, probably boulangerite, are intersected along vein margins and as powerful disseminations in the surrounding wall rocks.
Our drilling program is off to an encouraging start with the first hole intersecting two zones of significant quartz veining and sulphide mineralization. The presence of vuggy quartz, stylolites, arsenopyrite and possible boulangerite are all indications that we are in the targeted epizonal gold system.
Roger Moss, President and CEO, Labrador Gold Corp.
Big Vein Target
The Big Vein target is a gold-bearing quartz vein exposed at surface that has been traced more than 400 m so far. Gold mineralization noted at Big Vein consists of six occurrences of visible gold, assays of samples from which it varies from 1.87 g/t to 1.065 g/t gold.
Essentially, the visible gold is hosted in hardened and vuggy gray quartz, which is locally stylolitic with vugs usually consisting of euhedral quartz infilling features unique to epizonal gold deposits.
Roger Moss, PhD, P.Geo., President and CEO of LabGold, a Qualified Person in line with Canadian regulatory requirements as set out in NI 43-101, read and approved the scientific and technical data on which the disclosure in this release is based.
Labrador Gold thankfully acknowledges the Newfoundland and Labrador Ministry of Natural Resources’ Junior Exploration Assistance (JEA) Program for its funding for the Kingsway property exploration.