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Labrador Gold Announces Ongoing Diamond Drilling at its Kingsway Gold Project

Labrador Gold Corp. has provided an update on its earlier report that diamond drilling is ongoing at its wholly-controlled Kingsway Gold Project located close to Gander, Newfoundland.

Lower mineralized zone showing quartz veining in grey-green shale. Image Credit: Labrador Gold Corp.

Labrador Gold intends to add a photo of the drill core intersected in the first hole. The core photo is depicted above.

It must be noted that Labrador Gold has not yet obtained any assays from the interval illustrated in the photo, nor from the rest of the hole.

Labrador Gold has reported that diamond drilling is ongoing at its wholly-controlled Kingsway Gold Project located close to Gander, Newfoundland, and within the highly potential Gander Gold District, as well as along strike from New Found Gold’s high-grade Queensway Project.

The first Hole K-21-01 intersected dark gray to black interlaminated siltstone and shale of the Davidsville group.

A mineralized zone measuring 20 m and including quartz breccia, scattered quartz-carbonate veinlets, and frequent decimeter-scale quartz veining with related fine-grained arsenopyrite and pyrite was intersected from 43 to 63 m downhole.

After intersecting the dark gray-black shale, a series of pale green shale hosting meter-scale quartz veining was intersected in the hole.

The veining includes bright white-smokey gray, vuggy quartz that included silica flooding, local stylolites, intense sericitization and breccias.

Along the margins of the vein, fine-grained pyrite, arsenopyrite and Sb-Pb-bearing sulfide, (and probably boulangerite) confirmed using pXRF, are noted as powerful disseminations in the surrounding wall rocks.

Our drilling program is off to an encouraging start with the first hole intersecting two zones with significant quartz veining and sulphide mineralization. The presence of the 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, a gold-bearing quartz vein, is exposed at surface and has been traced more than 400 m so far. Gold mineralization intersected at Big Vein includes six occurrences of visible gold, assays of samples from which vary from 1.87 g/t to 1,065 g/t gold.

The visible gold essentially occurs in annealed, vuggy gray quartz, which is locally stylolitic and includes vugs that usually contain euhedral quartz infilling features characteristic to epizonal gold deposits.

Roger Moss, PhD, P.Geo., President and CEO of Labrador Gold Corp., is a Qualified Person in compliance with Canadian regulatory requirements as outlined by NI 43-101. He has read and approved the scientific and technical information on which the details in this news are based.

Labrador Gold thankfully acknowledges the Newfoundland and Labrador Ministry of Natural Resources’ Junior Exploration Assistance (JEA) Program for funding the exploration work at the Kingsway property.


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