Notice: Undefined index: to_date in /home/adnetinc/webapps/labradorgold/public/site/modules/NewsAggregator/NewsAggregator.module on line 987

Notice: Undefined index: to_date in /home/adnetinc/webapps/labradorgold/public/site/modules/NewsAggregator/NewsAggregator.module on line 988

Kingsway Project

Property

The Kingsway property consists of 264 claims in three licenses covering approximately 77 square kilometres. The project is located approximately 18km northwest of the town of Gander, Newfoundland.

Infrastructure is excellent with road access to the project off the Trans Canada Highway, nearby railroad and power and plentiful water.

Labrador has an option to earn 100% ownership in the three licenses,  subject to cash, share payments, work commitment and a 1% royalty on the Kingsway North and South Licenses.

Geology

The Kingsway project is targeting epizonal gold deposits associated with regional scale structures in Ordovician sedimentary rocks of the Davidsville Group. Previous work suggests that gold mineralization is associated with regional structures, particularly where second order cross structures occur. This has been further demonstrated by the New Found Gold discovery to the south of the Kingsway Property, where gold mineralization appears to be related to structures cross cutting the crustal scale Appleton fault zone.

The licenses making up the Kingsway project encompass approximately 16km strike length of the Appleton Fault Zone that is associated with many of the gold showings in the region. Significant gold anomalies, many of them associated with this fault zone have been found in all sample media including rock, till, soil, vegetation, lake sediments and stream sediments.

Despite the recognition of the structural control on mineralization early on, there does not appear to have been an attempt to target such structures in the drilling to date on the property. While historical drilling did not result in a discovery, there were indications of proximity to a mineralized system. In particular, a hole drilled near the heavy mineral concentrates with high gold values intersected approximately 22 metres of brecciated and silicified siltstone with numerous quartz stringers and quartz carbonate veins containing pyrite mineralization as stringers and blebs.

Mineralization

Two known gold occurrences, both associated with the Appleton Fault Zone are covered by the Kingsway property. The Appleton #2 occurrence was discovered in 2000 when prospecting resulted in a grab sample of a quartz vein grading 4.96 g/t Au.

The Cracker showing was discovered in 2001, when a grab sample returned gold values up to 33.9 g/t  Au. Trenching and drilling undertaken during 2002 outlined  the mineralized zone over approximately 40 metres along strike and up to 7 m wide and showed it is continuous at depth. Results of sampling from the trenches are shown in the table below.

Highlights of historical rock sampling of the Cracker showing.

Sample ID

Sample Type

Length

Au (g/t)

21027

Grab

N/A

3.97

21028

Grab

N/A

4.74

21029

Grab

N/A

1.80

NK-1

Grab

N/A

61.73

21034

Grab

N/A

3.64

21038

Grab

N/A

1.044

22127

Channel

0.5m

1.89

22128

Channel

0.5m

0.37

Note that grab samples are select samples and are not necessarily representative of gold mineralization found on the property. Channel sample lengths are not necessarily true widths.

Previous Work

LabGold has compiled historical data from work completed between 1989 and 2005. More recent exploration over the past four years has confirmed and expanded on this historical data and indicates the potential for a gold mineralized system at Kingsway.

Historical sampling of glacial till over the southern claim block showed gold values from below detection (<5ppb) to 89g/t Au in heavy mineral concentrates with 8 samples assaying over 10g/t Au. Gold anomalies in the concentrates extend over a three kilometre strike length along the Appleton fault zone.

Panning of 15 till samples for gold grains showed between 2 and 60 grains, shape analysis of which showed many to be subangular. This indicates proximity to source which is estimated to be between 100m and 500m up ice.

Trenching in the vicinity of the high gold values in heavy mineral concentrates uncovered a subangular boulder of quartz vein containing visible gold which assayed 168g/t Au. Neither the source of the boulder nor of the gold grains recovered from the till has been found.

Exploration over the past four years included over 1,758 till samples 3,724 vegetation (spruce tips) samples 2,381 till XRF samples and 2,958 soil samples taken over a 45km by 15km (675 square kilometre) area. This work resulted in the identification of an area of 66 square kilometres most prospective for gold mineralization covered by the Kingsway north and south claim blocks. Till and vegetation sampling over the south claim block confirms the results of the historical work and identified new gold anomalies while the work on the northern claim block identified new gold anomalies associated with north-northeast trending magnetic lineaments requiring follow up. On both claim blocks there is a close association between the gold anomalies and the Appleton or Dog Bay structures.

Gold anomalies in soil samples on the southern claim block occur to the west (up ice) of the historical gold anomalies in heavy mineral concentrates and may indicate a potential source area.

Significant gold anomalies in till (0.11 g/t to 1.61 g/t) and soil (<5ppb to 787 ppb) samples also occur on the central claim block. These anomalies are both associated with and to the northeast of the Cracker showing close to the boundary with the northern claim block.

Maps


Notice: Undefined index: to_date in /home/adnetinc/webapps/labradorgold/public/site/modules/NewsAggregator/NewsAggregator.module on line 987

Notice: Undefined index: to_date in /home/adnetinc/webapps/labradorgold/public/site/modules/NewsAggregator/NewsAggregator.module on line 988