Toronto, ON , September 8, 2020 - Junior Mining Network - Labrador Gold Corp. (TSX.V: LAB) (OTCQX: NKOSF) (FNR: 2N6) is cashed up and has commenced the 2020 exploration program at its Kingsway Gold Project in Newfoundland. The program consists of up to 10,000 soil samples, geological mapping and prospecting and 250 kilometers of ground magnetics and VLF. Results from the program will be used to plan a first-phase fall drilling program on the project.
The current campaign is focused on a large three-kilometre gold anomaly that runs along the trace of the Appleton fault zone located within Labrador Gold's southernmost claim block at the Kingsway project. The Appleton Fault zone is associated with many regional gold showings within the Gander Gold district, including New Found Gold's (TSX.V: NFG) recent discovery of 92.86 g/t Au over 19.0 metres at their Queensway property. (Note that mineralization hosted on adjacent or nearby properties is not necessarily indicative of mineralization hosted on the Company's property).
CEO Roger Moss visits with host Pat Beechinor and outlines what to expect over the coming months as Labrador Gold gears up for an exciting finish to the year.
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About Labrador Gold
Labrador Gold is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada. In early March 2020, Labrador Gold acquired the option to earn a 100% interest in the Kingsway project in the Gander area of Newfoundland. The property is along strike to the northeast of New Found Gold's discovery of 92.86 g/t Au over 19.0 meters on their Queensway property. (Note that mineralization hosted on adjacent or nearby properties is not necessarily indicative of mineralization hosted on the Company's property). In early July 2020, the Company signed an option agreement to acquire a third license to add to the property package which now covers approximately 77 km2. The three licenses comprising the Kingsway project cover approximately 16km of the Appleton fault zone, which is associated with gold occurrences in the region, including the New Found Gold discovery. Historical work over the area covered by the Kingsway licenses shows evidence of gold in till, vegetation, soil, stream sediments, lake sediments and float. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity, and abundant local water.
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This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law.
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