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Labrador Gold Corp. (LAB.V)

TSXV - TSXV Real Time Price. Currency in CAD
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0.3450-0.0150 (-4.17%)
At close: 3:55PM EST
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Previous Close0.3600
Open0.3500
Bid0.3450 x 0
Ask0.3600 x 0
Day's Range0.3450 - 0.3600
52 Week Range0.1000 - 0.6300
Volume101,322
Avg. Volume321,242
Market Cap38.187M
Beta (5Y Monthly)2.49
PE Ratio (TTM)N/A
EPS (TTM)-0.0310
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • Labrador Gold Announces Initial 10,000 Metre Drill Program to Test High-grade Gold Target at Kingsway, Newfoundland
    GlobeNewswire

    Labrador Gold Announces Initial 10,000 Metre Drill Program to Test High-grade Gold Target at Kingsway, Newfoundland

    Figure 1 Drill hole locations in the Big Vein area showing gold in rock and soil anomalies. Figure 2 Plan and sections of VLF-EM results showing high-resistivity anomaly associated big vein and the quartz vein corridor. Highlights 10,000 metre diamond-drill program to test strong, high-grade epizonal orogenic gold target at the Big Vein prospect adjacent to the Appleton Fault Zone. Initial drilling will focus on the area of visible gold occurrences at Big Vein. An initial 350-metre length of Big Vein will be tested during the program. TORONTO, Feb. 03, 2021 (GLOBE NEWSWIRE) -- Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce a maiden 10,000-metre diamond-drill program to test high-grade gold targets at the Big Vein prospect on its 100% controlled Kingsway Project near Gander, Newfoundland. The Kingsway project is located within the highly prospective Gander Gold District. The drill program, anticipated to consist of 43 holes, is designed to test a 350-metre strike length of Big Vein. Initial drilling will test shallow mineralization below the original visible gold showing, a grab sample from which assayed 1,065 g/t gold (see Company news release dated December 3, 2020). Since the plunge of the high-grade mineralization is not yet known, drilling will proceed with short 12.5-metre stepouts to the northeast and southwest of the visible gold showing (Figure 1). The VLF-EM data collected late in 2020 has been processed and is being used to guide the targeting of Big Vein and horizons within the vein corridor. The VLF data highlights steeply-dipping, northeast-trending high-resistivity features that are interpreted to represent zones of quartz veining and/or silicification hosted in the less resistive shales and turbiditic sequences of the Davidsville group (Figure 2). Labgold is already advanced in its preparations for the drill program and has signed an agreement with Cabo Drilling (Pacific) Corp of Springdale, Newfoundland as the drilling contractor. The Company has also leased a warehouse in Glenwood to serve as a core shack with outside space for core storage and is outfitting the building for the needs of the program. The Company submitted permit applications for the drilling program in mid-December, 2020 and is waiting for the approvals. Once approvals are received, the Company expects to mobilize crews quickly since preparations are well advanced. “We are looking forward to the start of drilling at the high-grade gold target at Big Vein. Following up on our new discovery of visible gold late last year will be an exciting time for LabGold,” said Roger Moss, President and CEO of Labrador Gold. “Since the initial discovery, we have uncovered significant gold in rock samples over at least 100 metres strike length along Big Vein, with more assays to come.” Matthieu Lapointe, Vice-President Exploration of Labrador Gold, added: “The LabGold team has been focused on resolving the controls on gold mineralization of Big Vein and the associated vein corridor. Our understanding of the local geology, structures, pathfinder geochemistry and geophysical responses has improved considerably from recent mapping, sampling and VLF surveying. We are now well positioned to begin drilling and the entire team is anxious to see the first drill core pulled from this newly discovered, gold-bearing, quartz vein system”. Big Vein Target The Big Vein target is an auriferous quartz vein exposed at surface that has been traced over 400 metres to date. Gold mineralization observed at Big Vein includes six occurrences of visible gold, samples from which assays range from 1.87g/t to 1,065g/t gold. The visible gold is typically hosted in annealed and vuggy gray quartz, that is locally stylolitic with vugs often containing euhedral quartz infilling features characteristic of epizonal gold deposits. Big Vein lies within a larger corridor of intermittent quartz veining striking northeast-southwest over 7.5km adjacent to the Appleton Fault Zone. Prospecting has revealed that quartz veins along this corridor locally contain pyrite, chalcopyrite, and arsenopyrite with carbonate and sericite alteration. Gold-in-soil anomalies and resistivity highs from VLF-EM geophysical surveys are spatially associated with the corridor. Roger Moss, PhD., P.Geo., President and CEO of LabGold, a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this release. The Company gratefully acknowledges the Newfoundland and Labrador Ministry of Natural Resources’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway property. 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 metres 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. 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. The Hopedale gold property covers much of the Florence Lake greenstone belt that stretches over 60 km. The belt is typical of greenstone belts around the world but has been underexplored by comparison. Initial work by Labrador Gold has identified a 3 kilometre mineralized section of the northern portion of the belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold. The Ashuanipi gold project is located just 35 km from the historical iron ore mining community of Schefferville, which is linked by rail to the port of Sept Iles, Quebec in the south. The claim blocks cover large lake sediment gold anomalies that, with the exception of local prospecting, have not seen a systematic modern day exploration program. Results of the exploration to date show gold anomalies in soils and lake sediments over a 15 kilometre long by 2 to 6 kilometre wide north-south trend and over a 14 kilometre long by 2 to 4 kilometre wide east-west trend. The Company has 110,687,104 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB. For more information please contact: Roger Moss, President and CEO Tel: 416-704-8291 Or visit our website at: www.labradorgold.com Twitter: @LabGoldCorp Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements: 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. Shareholders are cautioned not to put undue reliance on such forward-looking statements. Photos accompanying this announcement are available athttps://www.globenewswire.com/NewsRoom/AttachmentNg/8bd3aeec-5de4-49f3-b195-cde6f8526659https://www.globenewswire.com/NewsRoom/AttachmentNg/967bdccc-407f-48fc-b27e-7d7ed52f4863

  • Labrador Gold Further Confirms High-Grade Gold Target at Kingsway
    GlobeNewswire

    Labrador Gold Further Confirms High-Grade Gold Target at Kingsway

    Figure 1 Map of Big Vein showing location of rock samples and visible gold occurrences. Highlights New rock chip assays including 184.68 g/t Au, 65.9 g/t and 38.5 g/t Au confirm strong high-grade epizonal orogenic gold target at the Big Vein prospect. Numerous +1g/t Au assays now define at least a 100m strike length along the NE-trending Big Vein and associated splay structure.Quartz vein now defined over a strike length of 400m within a larger corridor of intermittently exposed quartz veining extending over 7.5km strike northeast to southwest. TORONTO, Jan. 21, 2021 (GLOBE NEWSWIRE) -- Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce the latest high-grade assay results from samples collected near the area of visible gold at the Big Vein target, part of its 100% controlled Kingsway Project near Gander, Newfoundland. The Kingsway project is located within the highly prospective Gander Gold District. Assays from 134 new grab samples taken over a 250-metre strike length of quartz vein (“Big Vein”) southwest of the previously announced visible gold samples (see news release dated November 9, 2020) range from below detection (<5ppb) to 184.7g/t Au in sample 526169 which contained visible gold. Samples 526170, 526171 and 526172 also contained visible gold. Significant (+1g/t Au) assays in the vicinity of the initial visible gold samples have now been reported from samples up to 29 metres north and 70 metres to the southwest. Highlights of the results are given below. Sample #Sample TypeSample TypeRock TypeAu (g/t)526169FloatGrab*Quartz vein with visible gold184.68526171FloatGrabQuartz vein with visible gold65.94526138FloatGrabQuartz vein with py38.47526136SubcropGrabQuartz vein with py and cpy8.50526125OutcropGrabQuartz vein with py5.26526128OutcropGrabQuartz vein with py and cpy3.64526172FloatGrabQuartz vein with visible gold3.43526170FloatGrabQuartz vein with visible gold1.87526135SubcropGrabQuartz vein with py and cpy1.60526471SubcropGrabQuartz vein1.32526139FloatGrabQuartz vein with py1.13 *Note that grab samples are select samples and are not necessarily representative of gold mineralization found on the property. Prospecting and mapping have shown that Big Vein strikes northeast-southwest over a distance of 400 metres. The vein lies within a larger corridor of intermittently exposed quartz veining over a strike length of 7.5km. Mapping indicates that quartz veining within the corridor is hosted by dark grey-black shales of the Davidsville Group, a stratigraphic horizon which hosts several gold occurrences in central Newfoundland. Assays are still pending for many rock samples from the greater quartz vein corridor. “These new assay results confirm we have a robust high-grade gold target at Big Vein,” said Roger Moss, President and CEO of Labrador Gold. “Significant assays in rock samples now outline at least 100m strike along Big Vein, with some high-grade samples displaying visible gold mineralization similar to that seen at New Found Gold’s Queensway project along strike to the southwest. Big Vein is shaping up to be a high priority target for our upcoming drill program.” Samples were shipped to Eastern Analytical Laboratory in Springdale, Newfoundland for assay. Eastern Analytical is an ISO/IEC17025 accredited laboratory. Samples were analyzed for gold by whole sample metallic screen/fire assay or by standard 30g fire assay with ICP (inductively coupled plasma) finish. The company submits blanks, field duplicates and certified reference standards at a rate of approximately 5% of the total samples in each batch. Roger Moss, PhD., P.Geo., President and CEO of LabGold, a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this release. The Company gratefully acknowledges the Newfoundland and Labrador Ministry of Natural Resources’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway property. 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 metres 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. 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. The Hopedale gold property covers much of the Florence Lake greenstone belt that stretches over 60 km. The belt is typical of greenstone belts around the world but has been underexplored by comparison. Initial work by Labrador Gold has identified a 3 kilometre mineralized section of the northern portion of the belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold. The Ashuanipi gold project is located just 35 km from the historical iron ore mining community of Schefferville, which is linked by rail to the port of Sept Iles, Quebec in the south. The claim blocks cover large lake sediment gold anomalies that, with the exception of local prospecting, have not seen a systematic modern day exploration program. Results of the exploration to date show gold anomalies in soils and lake sediments over a 15 kilometre long by 2 to 6 kilometre wide north-south trend and over a 14 kilometre long by 2 to 4 kilometre wide east-west trend. The Company has 110,687,104 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB. For more information please contact: Roger Moss, President and CEO Tel: 416-704-8291 Or visit our website at: www.labradorgold.com Twitter: @LabGoldCorp Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements: 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. Shareholders are cautioned not to put undue reliance on such forward-looking statements. A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/28ef9f5f-cde9-421e-a640-15aa329293d6

  • Labrador Gold Announces Appointment of Quinton Hennigh to Technical Advisory Board
    GlobeNewswire

    Labrador Gold Announces Appointment of Quinton Hennigh to Technical Advisory Board

    TORONTO, Dec. 21, 2020 (GLOBE NEWSWIRE) -- Labrador Gold Corp. (TSX-V: LAB) (“LabGold” or the “Company”) is pleased to announce the appointment of Dr. Quinton Hennigh to the Company’s Advisory Board. Dr. Hennigh is an economic geologist with 25 years of exploration experience, and is a founder and current Chairman and President of Novo Resources Corp., which is exploring and developing gold projects in the Pilbara region of Western Australia, including its Beatons Creek, Karratha and Egina gold projects, the latter of which is under a joint venture with Japan’s Sumitomo Corporation. Early in his career, Dr. Hennigh explored for major mining firms including Homestake Mining Company, Newcrest Mining Ltd and Newmont Mining Corporation. He then joined the junior mining sector in 2007 and has been involved with a number of Canadian listed gold companies, including Gold Canyon Resources Inc., where he led exploration at the Springpole alkaline gold project near Red Lake Ontario, a 5-million-ounce gold asset that was sold in 2015 to First Mining Gold Corp. Dr. Hennigh was also instrumental in Kirkland Lake Gold’s acquisition of the Fosterville gold mine, which is located in Australia and was previously owned by Newmarket Gold Inc. Dr. Hennigh joins Shawn Ryan on the Company’s Technical Advisory Board.“I am excited to welcome Quinton to the LabGold Advisory Board and look forward to working with him again and tapping into his extensive knowledge of gold exploration and deposit types,” said Roger Moss, President and CEO. “His overall experience, and particularly that related to the Fosterville gold mine, will be a significant help to us as we undertake our first diamond drilling program targeting the gold mineralization hosted by Big Vein at our Kingsway Project in 2021.”“LabGold has one of the most exciting properties in what is shaping up to become a prolific new district scale gold exploration play in Canada,” said Quinton Hennigh. “The particular deposit style targeted here, epizonal orogenic lode gold, can deliver high grades. Firsthand demonstration of this potential is clearly evident in New Found Gold’s high-grade gold discovery at their Queensway project immediately south of, and along strike with, LabGold’s Kingsway project. Similar geology and similar discovery potential extends from Queensway straight onto LabGold’s tenure. I look forward to working with Roger and his team to move this exciting project forward.”The Company also announces the grant of 500,000 options to purchase common shares of the Company to Dr. Hennigh The options are exercisable at a price of $0.45 for a period of five years.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 metres 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. 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.The Hopedale gold property covers much of the Florence Lake greenstone belt that stretches over 60 km. The belt is typical of greenstone belts around the world but has been underexplored by comparison. Initial work by Labrador Gold has identified a 3 kilometre mineralized section of the northern portion of the belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold.The Ashuanipi gold project is located just 35 km from the historical iron ore mining community of Schefferville, which is linked by rail to the port of Sept Iles, Quebec in the south. The claim blocks cover large lake sediment gold anomalies that, with the exception of local prospecting, have not seen a systematic modern day exploration program. Results of the exploration to date show gold anomalies in soils and lake sediments over a 15 kilometre long by 2 to 6 kilometre wide north-south trend and over a 14 kilometre long by 2 to 4 kilometre wide east-west trend.The Company has 110,487,104 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB.For more information please contact:Roger Moss, President and CEO      Tel: 416-704-8291Or visit our website at: www.labradorgold.comTwitter: @LabGoldCorpNeither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Forward-Looking Statements: 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. Shareholders are cautioned not to put undue reliance on such forward-looking statements.