New Found Gold Corp is buying Labrador Gold’s Kingsway mining project in Gander.

The purchase will connect that project with New Found’s Queensway Project already underway in the region.

Exploration over the last few years by Labrador Gold has resulted in what they call “several high-grade gold discoveries” that are similar to what’s been found in Queensway.

COO Greg Matheson calls the purchase a “significant building block to the district scale potential of the Queensway Project.”

He says they plan on continuing drilling and exploration at the site and “unlocking its full potential,” believing that Kingsway is entering its “discovery phase.”