Figure 1. Plan map of Pristine showing significant intersections. Source: Labrador Gold
Labrador Gold (TSXV:LAB) has reported data from its recent drill tests in the Appleton Fault Zone. The tests are part of Labrador Gold’s ongoing 100,000-metre diamond drilling program at its wholly-owned Kingsway Project.
Roger Moss, President and CEO of Labrador Gold, commented in a press release: “Today’s result of high-grade, near surface gold mineralization at Pristine validates our belief that there is more to be found at Pristine. It is also the third discovery along the Appleton Fault Zone, after Big Vein and Dropkick, to produce such high grades associated with visible gold. Following our initial discovery of near surface visible gold at Pristine announced in May 2022, we did not intersect similar high-grades to those seen at Big Vein. As a result, we returned our focus to expanding Big Vein along strike and at depth and have successfully defined mineralization there over a 720-metre strike length. With near surface mineralization at Pristine now drilled over an approximate 160 metre strike length and the potential for high grades demonstrated, we are looking forward to receiving the permit to drill The Gap between Pristine and Big Vein, a distance of approximately 700 metres, as we continue to focus our drilling along the very prospective Appleton Fault Zone.”
The latest results from the Pristine site show a notable intersection of 11.98g/t Au spanning 6 metres from a depth of 91 metres, including an impressive 30.61g/t over 2.33 metres and 82.2g/t over 0.75 metres. Remarkably, Hole K-22-270 contained 77 grains of visible gold. All the mineral deposits identified at Pristine are situated above a vertical depth of 86 metres, covering an approximate strike length of 160 metres.
Figure 2. Visible gold in drill core from Hole K-23-270. A total of 77 gold grains were observed. Source: Labrador Gold
Initial drilling results from the DropKick site revealed 1.15g/t Au over 12.4 metres from a depth of 190.25 metres and 1.46g/t Au over 6.75 metres from 162.25 metres in Holes K-23-231 and K-23-251, respectively.
At the Big Vein site, the tests showed 1.10g/t Au over 9.3 metres from a depth of 195 metres and 1.47g/t Au over 6.55 metres from 107.88 metres in Holes K-23-246 and K-23-237, respectively.
To date, Labrador Gold has completed almost 83,000 metres of its proposed 100,000-metre drilling. Assessment results are awaited for approximately 8,877 metres of the core samples.
Figure 3. Interval of visible gold mineralization in Hole K-23-270. Source: Labrador Gold
With a financial reserve of about $12 million, Labrador Gold is well-prepared to complete the remaining 17,000 metres of its drilling plan and to continue exploration for more potential drill targets within the property.
Highlights from the results are as follows:
Hole ID
From (m)
To (m)
Interval (m)
Au (g/t)
Zone
K-23-270
91.00
97.00
6.00
11.98
Pristine
including
92.97
95.30
2.33
30.61
including
94.00
94.75
0.75
82.20
K-23-251
162.25
169.00
6.75
1.46
DropKick
including
166.45
168.60
2.15
3.72
including
167.00
168.60
1.60
4.48
K-23-250
152.40
152.80
0.40
6.87
Big Vein
K-23-246
195.00
204.30
9.30
1.10
Big Vein
including
199.00
204.30
5.30
1.49
K-23-240
75.22
75.63
0.41
1.82
DropKick
86.00
90.72
4.72
1.16
including
86.00
88.68
2.68
1.51
K-23-237
93.00
120.00
27.00
0.63
Big Vein
including
107.88
114.43
6.55
1.47
K-23-234
100.55
101.90
1.35
1.02
DropKick
116.00
117.00
1.00
1.26
K-23-231
190.25
202.65
12.40
1.15
Dropkick
including
197.45
201.60
4.15
1.78
including
201.30
201.60
0.30
7.74
K-23-230
16.00
19.30
3.30
0.41
Big Vein
K-23-229
nsv
Big Vein SW
K-23-228
91.55
91.85
0.30
1.18
DropKick
122.35
123.15
0.80
2.63
K-23-226
nsv
Big Vein SW
Table 1. Summary of assay results. All intersections are downhole length as there is insufficient Information to calculate true width.
Hole ID
Easting
Northing
Elevation
Azimuth
Inclination
Total Depth
K-23-270
661930
5436075
52.0
315
45
187
K-23-251
663167
5438130
58.2
140
65
229
K-23-250
661554
5435471
53.0
125
70
320
K-23-246
661272
5435093
62.4
145
45
250
K-23-240
663365
5438261
60.2
140
45
128
K-23-237
661352
5435080
45.8
145
45
280
K-23-234
663304
5438259
55.9
140
45
266
K-23-231
663303
5438259
56.3
140
65
260
K-23-230
661737
5435329
44.7
20
45
208
K-23-229
661133
5434768
42.9
140
45
173
K-23-228
663348
5438353
54.7
140
65
126.2
K-23-226
661176
5434794
42.3
140
45
528
Table 2. Drill hole collar details
The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.
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