Thursday, August 10, 2023
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
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Drilling program affirms prospectivity of the Appleton Fault. Drilling at Labrador Gold’s 100%-owned Kingsway gold project continues to target 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. Assays are pending for samples from approximately 8,877 meters of core. Most of the drilling to date has occurred at the Big Vein target where recent drilling returned 1.10 grams of gold per tonne over 9.3 meters, including 1.49 grams of gold per tonne over 5.3 meters in Hole K-23-246 and 1.47 grams of gold per tonne over 6.55 meters in Hole K-23-237. Drilling at Big Vein has defined gold mineralization over a 720-meter strike length.
Drilling at Pristine yields high-grade gold mineralization. Follow up drilling at the Pristine target returned an intersection of 11.98 grams of gold per tonne over six meters, including 30.61 grams of gold over 2.33 meters and 82.2 grams of gold over 0.75 meters that contained 77 grains of visible gold in Hole K-22-270. To date, mineralization discovered at Pristine occurs above 86 meters vertical depth and extends over a strike length of approximately 160 meters.
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