Tuesday, October 03, 2023
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
The final stretch. Drilling at Labrador Gold’s 100%-owned Kingsway gold project is targeting the Appleton Fault over a 12-kilometer strike length. The drilling is part of the company’s ongoing 100,000-meter diamond drilling program of which 83,000 meters of drilling has been completed. The company is beginning to receive assays back from the laboratory for samples from approximately 8,877 meters of core which will be released in batches once they have been interpreted. With ~C$11.5 million in cash, Labrador Gold is well-funded to complete the remaining 17,000 meters of planned drilling.
Drilling resumes next week. Labrador Gold expects to resume drilling next week with three rigs. Drilling will target the Gap Zone between the Big Vein and Pristine targets, the Knobby Occurrence, and the Golden Glove target. Permits have been received to drill in the Gap Zone and in the area south of the Big Vein target to the southern boundary of the property which encompasses the Knobby Occurrence and Golden Glove.
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