Maurice Jackson: Joining us for our conversation is Dr. Roger Moss, the CEO of Labrador Gold Corp. (LAB:TSX; NKOSF:OTCQX), with some very encouraging news to provide shareholders regarding more high-grade gold intercepts from the flagship Kingsway Gold project.
Before we begin, Dr. Moss, please introduce us to Labrador Gold and the opportunity the company presents to shareholders.
Roger Moss: Labrador Gold is a junior gold explorer. And as the name suggests, we have a couple of projects in Labrador and those projects are still active, at Ashuanipi and Hopedale. They're both district-scale gold projects. Both are pretty green fields still, but coming along nicely.
Last year Labrador Gold picked up the Kingsway project and that's been the focus for us over the last year to 18 months. And it's been quite a ride. As you know, we're in the middle of a gold rush here in Newfoundland and it's a very exciting time to be exploring for gold in central Newfoundland.
Maurice Jackson: The company is currently embarked on a 50,000-meter drill program. Let's go onsite, as earlier today Labrador Gold released yet another impressive press release regarding more high-grade gold intercepts from the flagship Kingsway Gold project. Dr. Moss, what can you share with us?
Roger Moss: We had two holes that had visible gold in them that was still outstanding. The assays were in the lab, and all the samples were in the lab. We were waiting for the assays, and they came back and they were pretty good. Earlier today we released six holes from the Big Vein target. And two of them were holes that contained the visible gold.
Hole 7 ran 7.9 grams per tonne (g/t) over a meter. But that was overshadowed by Hole 17 which was the highest grade that we've drilled yet on the project. And that was 160 grams per ton, over 0.55 meters within a larger interval of 1.85 grading 50.4 grams per ton. These are some pretty nice intercepts. And like I said, the largest, highest-grade that we've seen yet from Big Vein.
Maurice Jackson: You must be a master chess player or poker player because I like how you're containing your composure here.
Roger Moss: It is pretty exciting. I must admit. There's a lot of excitement around the core shack these days and people are always waiting to open the core boxes. Yeah, I think people are pretty happy.
Maurice Jackson: Sir, this is another great demonstration of Labradors Gold's proof of concept. What is the significance of these results?
Roger Moss: Well, I think it shows again that the Big Vein target is a very prospective target. This is probably the third high-grade results that we've had, the highest yet. And this was a 30 meter step out to the northeast from the previous interval. That's a pretty significant step up when we're doing these very tight space drill holes of 10 to 12.5 meters from one another. So, 30 meters step-out, that's good.
We're starting to get a bit of a handle on the plunge of the mineralization. And that's key. We think we're going to be able to target these higher-grade intervals better going forward. And the more of these intervals we see the more refined that our targeting will be. The high-grade interval is now over about 40 meters or so, or at least the strike length is over 40 meters or so. And it's still open in both directions and lots of drilling to follow that up.
Maurice Jackson: Sir, please provide us with the capital structure for Labrador Gold.
Roger Moss: We have 150 million shares outstanding, about 43 million warrants, all of which are in the money right now, and about 8 million options again, all in the money. We have about 200 million shares on a fully diluted basis.
Maurice Jackson: In closing, Dr. Moss, what would you like to convey to shareholders?
Roger Moss: This is like a baseball game. We're in the first innings. And I think we managed to reach first base. We've seen a lot of pitches. We've got a man on, nobody out and the more pitches we see, the better the chance we will hit a home run/s.
I think we're still swinging and one of these days we're going to hit it out of the park. And you know that doesn't just go for Big Vein, which is where we've been focused most of our exploration, but we've also got a much wider quartz vein corridor along Big Vein, which we're going to be drilling pretty soon. Once we've got targets lined up there, we're developing targets all along that quartz vein corridor stretching for about seven and a half kilometers. And that is going to be interesting.
I had a conversation with our VP Exploration Matt Lapointe the other day, and he said, "Big Vein may not be the biggest occurrence that we get. It's just the first one we're looking at." And so I like to think that some of the prospects that we're developing north and south of Big Vein will turn into a string of pearls, all strung out along the Appleton fault zone.
I think that would be the ultimate discovery, it's not just to have a discovery at Big Vein, but to be able to discover more occurrences all along the Appleton fault zone. I think that would be the ultimate.
Maurice Jackson: Dr. Moss, for readers who wish to learn more about Labrador Gold, please share the contact details.
Roger Moss: Please email [email protected]. The website is www.labradorgold.com. And I always refer people to our Twitter account, which is @LabGoldCorp. We put a lot of content up there, short clips that just give you a behind-the-scenes look at what we're doing here in Newfoundland.
Maurice Jackson: Dr. Moss, thank you for coming on the show on such short notice; it's been a pleasure speaking with you. Wishing you and Labrador Gold the absolute best, sir.
Roger Moss: Thanks very much, Maurice. And I hope I managed to get through this one without smirking too much.
Maurice Jackson: And as a reminder, I am a licensed representative to buy and sell precious metals through Miles Franklin Precious Metals Investments, where we have several options to expand your precious metals portfolio, from physical delivery of gold, silver, platinum, palladium, and rhodium, to offshore depositories, and precious metals IRAs. Give me a call at 855.505.1900 or you may email: [email protected]. Finally, please subscribe to www.provenandprobable.com, where we provide Mining Insights and Bullion Sales; subscription is free.
Maurice Jackson is the founder of Proven and Probable, a site that aims to enrich its subscribers through education in precious metals and junior mining companies that will enrich the world.
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