Highlights of the initial drilling at Dropkick include an intersection of 1.97g/t Au over 9.45 metres from 198.55 metres including 3.13g/t over 5.45 metres and 31.86g/t over 0.45 metres that contained visible gold in Hole K-22-228B, just the fourth hole in the target. Hole K-23-227 intersected 1.15g/t Au over 4 metres from 123 metres and 1.06g/t over 5.27 metres from 130.73 metres. Hole K-23-224 intersected 1.74g/t Au over 5.07 metres from 170.93 metres including 2.72g/t over 3.16 metres. Dropkick is located approximately 3.4 kilometres northeast of Big Vein.
Ongoing drilling at Big Vein returned near surface gold values of 1.06g/t Au over 9.63 metres from 47.64 metres, including 2.28g/t over 2.26 metres in Hole K-23-225 and 3.66g/t Au over 1.04 metres from 11 metres in Hole K-23-221.
“We are very encouraged by the initial drilling at the new Dropkick target, especially given its distance from Big Vein. Dropkick is the fifth of six targets where drilling intersected significant gold mineralization, a testament to the highly prospective nature of the
Hole ID | From (m) | To (m) | Width (m) | Au (g/t) | Target/Zone |
K-23-228B | 198.55 | 208.00 | 9.45 | 1.97 | DropKick |
including | 198.55 | 204.00 | 5.45 | 3.13 | |
including | 198.55 | 199.00 | 0.45 | 31.86 | |
K-23-227 | 123.00 | 142.00 | 19.00 | 0.88 | DropKick |
including | 130.73 | 136.00 | 5.27 | 1.06 | |
and | 123.00 | 127.00 | 4.00 | 1.15 | |
K-23-225 | 47.64 | 57.00 | 9.63 | 1.06 | Big Vein |
including | 47.64 | 49.90 | 2.26 | 2.28 | |
K-23-224 | 170.93 | 176.00 | 5.07 | 1.74 | Dropkick |
including | 170.93 | 174.09 | 3.16 | 2.72 | |
K-23-223 | 115.75 | 117.05 | 1.30 | 1.35 | Dropkick |
K-23-221 | 11.00 | 12.04 | 1.04 | 3.66 | Big Vein |
293.00 | 295.00 | 2.00 | 1.24 |
Table 1. Summary of assay results. All intersections are downhole length
as there is insufficient Information to calculate true width.
Figure 1. Plan map of Big Vein showing significant intersections.
Figure 2. LabGold occurrences along the
Almost 72,000 metres have been drilled to date out of the planned 100,000 metre program. Assays are pending for samples from approximately 4,730 metres of core.
The Company has approximately
Hole ID | Easting | Northing | Elevation (m) | Azimuth | Inclination | Depth (m) |
K-23-228B | 663349 | 5438348 | 64 | 140 | 65 | 254.00 |
K-23-228 | 663349 | 5438348 | 64 | 140 | 65 | 126.20 |
K-23-227 | 663349 | 5438348 | 64 | 140 | 45 | 215.00 |
K-23-226 | 661173 | 5434794 | 43 | 140 | 45 | 528.00 |
K-23-225 | 661623 | 5435460 | 48 | 145 | 50 | 275.00 |
K-23-224 | 663220 | 5438195 | 63 | 140 | 65 | 227.23 |
K-23-223 | 663220 | 5438195 | 63 | 140 | 45 | 140.00 |
K-23-221 | 661646 | 5435342 | 53 | 145 | 75 | 530.17 |
Table 2. Drill hole collar details
QA/QC
True widths of the reported intersections have yet to be calculated. Assays are uncut. Samples of HQ split core are securely stored prior to shipping to
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Labrador Gold’s flagship property is the 100% owned Kingsway project in the Gander area of
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Forward-Looking Statements: This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/f7cf5f92-7999-45a8-851b-0f329bf64766
https://www.globenewswire.com/NewsRoom/AttachmentNg/d75914a7-d276-47ac-9f7d-714ddfb9e277
Figure 1.
Plan map of Big Vein showing significant intersections
Figure 2.
LabGold occurrences along the Appleton Fault Zone
2023 GlobeNewswire, Inc., source