Friday, February 24, 2023
Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Significant progress at Kingsway. Exploration and drilling at the company’s 100%-owned Kingsway gold project is targeting the Appleton Fault over a 12-kilometer strike length. With approximately $17 million in cash, Labrador Gold has ample financial resources to fund the remaining 34,000 meters of drilling of the company’s planned 100,000-meter drill program.
2023 drilling program. Drilling will continue this year at the Big Vein target and further drilling will be undertaken at the Midway and Pristine targets. Labrador Gold currently has two drill rigs deployed at the Big Vein target. The company expects to add a third rig to drill northeast of the Pristine target which could later move to the Midway target, and a fourth rig to drill in an area (“The Gap”) between Big Vein and Pristine.
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