Labrador GOLD Announces Assays from Area Around Visible GOLD Discovery at Kingsway
NEWS RELEASE
December 3, 2020
LABRADOR GOLD ANNOUNCES ASSAYS FROM AREA AROUND VISIBLE GOLD DISCOVERY AT KINGSWAY
Highlights
• Assays up to 1,065g/t Au
• Sixteen of 70 samples assayed greater than 1g/t Au and 39 samples assayed greater than 0.1g/t Au
• Quartz vein now defined over a strike length of 400m within a larger corridor of intermittently
exposed quartz veining over 7.1km to the northeast and southwest
TORONTO, ON, December 3, 2020 – Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or
the “Company”) is pleased to announce the results of initial sampling from the area of visible gold in quartz vein
at its Kingsway Project near Gander, Newfoundland. The Kingsway project is located within the highly
prospective Gander Gold District.
Assays from 70 grab samples taken over a 175 metre strike length of quartz vein (“Big Vein”) northeast and
southwest of the visible gold samples (see news release dated November 9, 2020) range from below detection
(<5ppb) to 1,065g/t Au in sample 526089 containing visible gold. In addition, 16 samples assayed over 1g/t Au
and 39 samples assayed over 0.1g/t Au. Highlights of the results are given below.
Sample ID Sample Medium Sample Type Au (g/t)
526089 Subcrop Grab* 1,065.4
526073 Outcrop Grab 16.1
526077 Outcrop Grab 7.2
526090 Angular Float Grab 5.4
526084 Subcrop Grab 5.4
526111 Subcrop Grab 5.3
526097 Angular Float Grab 4.9
526113 Subcrop Grab 3.8
1834193 Outcrop Grab 3.2
526096 Angular Float Grab 2.2
526075 Subcrop Grab 2.1
526081 Outcrop Grab 1.8
526076 Outcrop Grab 1.7
1834191 Outcrop Grab 1.6
526112 Subcrop Grab 1.3
526114 Subcrop Grab 1.3
*Note that grab samples are select samples and are not necessarily representative
of gold mineralization found on the property.
Prospecting and mapping have now expanded the northeast-southwest strike of Big Vein over approximately
400 metres. This vein lies within a larger corridor of intermittently exposed quartz veining over a strike length of
7.1km. Detailed mapping in the vicinity of Big Vein indicates it is hosted by dark grey-black shales of the
Davidsville Group, a stratigraphic horizon which hosts several gold occurrences in central Newfoundland.
While blow-outs of the quartz vein up to nine-metres-wide are seen sporadically along strike, contacts between
the veins and host rock are not exposed sufficiently to determine the true thickness of the veins. Prospecting,
mapping and sampling continues along this vein corridor to further define the nature and extent of this
mineralized system.
Geology map in the vicinity of Big Vein showing location of rock samples, soil samples and visible gold occurrences.
“Initial assay results from the visible gold samples and the surrounding area indicate the presence of very high-
grade gold at Kingsway, said Roger Moss, President and CEO of Labrador Gold. “The strike length of the vein
hosting the gold mineralization continues to grow as does the corridor of veining along strike of the
mineralization. This is turning into a key target for drilling early in the new year.”
“The discovery of shallow, high-grade, coarse visible gold in a recently uncovered veining corridor is a very
exciting and significant milestone. Revealing a new gold occurrence after only months of acquiring the project is
a strong testament to our exploration strategy and the potential of the Kingsway property. As we continue to
advance this target to a drill ready stage our team continues to aggressively explore the remainder of the highly
prospective property”, added Matthieu Lapointe, VP Exploration of Labrador Gold.
Portion of Sample 526089 that assayed 1,065.4 g/t Au showing visible gold grains.
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 km 2. 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 stretch es over 60 km. The
belt is typical of greenstone belts around the world but ha s 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 Se pt 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: 416-704-8291
Or visit our website at: www.labradorgold.com
@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 under lying 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.