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Labrador Gold’s shares gain on best grades cut at Kingsway to date

Kingsway project in Newfoundland. Image from Labrador Gold.

The Toronto-quoted equity of Labrador Gold (TSXV: LAB; US-OTCQX: NKOSF) closed 4% higher on Thursday after reporting the highest-grade intercepts from the flagship Kingsway project in Canada’s Newfoundland province to date.

The company reports that hole K-22-174 intersected 284.1 grams per tonne of gold over 0.58 metres from 309.47 metres depth, and 15.05 grams per tonne over 1.11 metres from 310.71 metres depth.

The hole is the furthest hole drilled to the southwest at Big Vein and represents a 120-metre step-out from previously reported mineralization at Big Vein.

Mineralization at Big Vein remains open along strike to the southwest and northeast.

Drilling also intersected high-grade mineralization at Golden Glove, grading 20.07 grams per tonne gold over 1 metre from 355 metres downhole, and a longer 13.2-metre near-surface interval at Midway grading 2.2 grams per tonne gold that included 5.23 grams per tonne over 4 metres.

President and CEO Roger Moss said that the highest grade intercept comes from the furthest hole drilled to the southwest at Big Vein. This suggests the excellent potential for further high-grade mineralization as the program continues to the southwest.