Date: September 14, 2020
Labrador Gold is a Canadian based mineral exploration company. They're focusing on the acquisition and exploration of prospective gold projects in Eastern Canada. In early March 2020, Labrador Gold acquired the option to earn a 100% interest in the Kingsway project. Indeed, this sits in the Gander area of Newfoundland.
The Kingsway property consists of 264 claims in three licenses covering approximately 77 square kilometres. Moreover, the project is located 18km northwest of the town of Gander, Newfoundland.
The Project benefits from excellent infrastructure. It has road access to the project off the Trans Canada Highway, nearby railroad and power and plentiful water.
The Kingsway property sits along strike to the northeast of New Found Gold's discovery of 92.86 g/t Au over 19.0 meters on their Queensway property. (Note that mineralization hosted on adjacent or nearby properties is not necessarily indicative of mineralization hosted on the Company's property). Further, the three licenses comprising the Kingsway project cover approximately 16km of the Appleton fault zone. The zone is associated with gold occurrences in the region, including the New Found Gold discovery. Historical work over the area covered by the Kingsway licenses shows evidence of gold in till, vegetation, soil, stream sediments, lake sediments and float. Additionally, results from previous work include up to 168 g/t Au in quartz vein boulder containing visible gold, 61.73 g/t Au in outcrop and 89 g/t Au in heavy mineral concentrates
“Some of the work done on the project over the last four years has demonstrated that there is the potential for high-grade gold discoveries in the district,” says President and CEO, Roger Moss.
Labrador Gold is cashed up and has commenced the 2020 exploration program at its Kingsway Gold Project in Newfoundland. In fact, the program consists of up to 10,000 soil samples, geological mapping and prospecting and 250 kilometers of ground magnetics and VLF. Results from the program will be used to plan a first-phase fall drilling program on the project.
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