- Labrador Gold (LAB) has sampled up to 338 g/t Au in a new discovery at Golden Glove 3.5 km south of Big Vein
- Additional highlights include 194.28 g/t Au and 193.69 g/t Au
- The company remains confident in the Appleton Fault Zone’s potential for high-grade near surface gold mineralization
- Labrador Gold is focused on prospective gold projects in eastern Canada
- Labrador Gold (LAB) is up by 7.06 per cent and is currently trading at $0.91 per share
Labrador Gold (LAB) has sampled up to 338 g/t Au in a new discovery at Golden Glove 3.5 km south of Big Vein.
Unlike Big Vein, Golden Glove is located on the southeast side of the Appleton Fault Zone, similar to the Keats, Golden Joint and Lotto occurrences on New Found Gold’s Queensway property immediately to the south.
The discovery remains part of the company’s 100-per-cent owned Kingsway Project near Gander, Newfoundland.
The three highest-grade samples contain visible gold.
Labrador remains confident in the Appleton Fault Zone’s potential for high-grade near surface gold mineralization.
Highlights
| Sample # | Sample type | Sample type | Rock type | Au (g/t) |
| 709307 | outcrop | float | Quartz vein | 2.16 |
| 709253 | outcrop | grab | Quartz vein with visible gold | 338.08 |
| 709252 | outcrop | grab | Quartz vein with visible gold | 194.28 |
| 709251 | outcrop | grab | Quartz vein with visible gold | 193.69 |
| 709010 | outcrop | grab | Quartz vein with py, apy and cpy | 6.34 |
| 709009 | outcrop | grab | Quartz vein with py, apy and cpy | 83.61 |
| 555963 | outcrop | grab | Quartz Vein with py | 2.99 |
Roger Moss, President and CEO of Labrador Gold, stated,
“The discovery of high-grade gold mineralization at Golden Glove is the result of our systematic approach to exploration at Kingsway. Golden Glove is just one of six prospective gold targets, excluding Big Vein, that we have generated and are currently exploring along the Appleton Fault.
We continue to advance these targets and generate new ones along the entire 12 km length of the Appleton Fault covered by the Kingsway Project. This is the second new discovery made by LabGold on the Kingsway Project following the discovery of Big Vein late last year. We anticipate making further discoveries as we continue to explore what appears to be a very productive fault zone.”
Labrador Gold is focused on prospective gold projects in eastern Canada.
Labrador Gold (LAB) is up by 7.06 per cent and is currently trading at $0.91 per share as of 9:30 am ET.
