Labrador Gold (LAB.V): Announces Mobilization of Drill to Kingsway Property

TORONTO, Oct. 14, 2020 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce the mobilization of a drill and crew to its Kingsway Project near Gander Newfoundland. The Kingsway project is located within the highly prospective Gander Gold District along strike to the northeast of New Found Gold Corp’s gold discovery announced earlier this year.

LabGold currently has exploration approval for an initial 2,600 metres of rotary air blast drilling (RAB) in up to 30 holes and has applied for a further 2,000 metres. Drill holes will test coincident gold in soil and VLF-EM anomalies, a strategy that has historically led to the discovery of new occurrences. The initial drilling will be carried out in five areas of the property including around the Cracker and Appleton #2 gold showings. Historical grab samples from these showings assayed from below detection (<5ppb) up to 61.73g/t Au and 4.96g/t Au, respectively.

“We are excited to get a drill mobilized to the property in our first season on the Kingsway Project. Our crews have worked hard to get us to the point where we have defined targets to test on each of the three licenses,” said Roger Moss, President and CEO of the Company. “We benefitted from a large geochemical database that allowed us to rapidly focus on the most prospective areas within the property. We will continue following up the gold anomalies in this database to generate a pipeline of areas to drill.“

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