Labrador GOLD Announces Discovery of New Mineralized Showings at the Hopedale Project
NEWS RELEASE July 26, 2019
LABRADOR GOLD ANNOUNCES DISCOVERY OF
NEW MINERALIZED SHOWINGS AT THE HOPEDALE PROJECT
Highlights:
- Discovery of two new mineralized showings at Hopedale, Labrador;
- First showing extends potential strike length by approximately 500 metres along strike of the Thurber
Dog gold occurrence;
- Second showing was discovered in the Misery North area and followed for approximately 50 metres
along strike.
VANCOUVER, BC, July 26, 2019 – Labrador Gold Corp. (TSX-V: LAB) (“Labrador Gold” or the “Company”) is pleased
to announce the discovery of two new mineralized showings shortly after the start of field work at its Hopedale
project in Labrador.
The company controls a 57 -kilometre strike length of stratigraphy prospective for gold in the Florence Lake
Greenstone Belt (FLGB). The current program aims to generate drill targets within these areas using detailed
geological mapping, rock sampling and p rospecting and ground magnetics/VLF -EM (very low frequency
electromagnetics).
Shortly after the start up of field work two new mineralized showing s were discovered and sampled. The first
showing is located approximately 500 metres north and along strike o f the Thurber Dog gold occurrence where
previous Labrador Gold rock sampling returned values up to 7.87 g/t Au . Mineralization is comprised of
disseminated to semi -massive pyrite and arsenopyrite hosted by mafic metavolcanic rocks with pervasive iron
oxide alteration.
The second occurrence “Sunshine” was found in the Misery North area of the belt and is a two-metre-wide
gossanous zone that was followed and sampled for approximately 50 metres along strike. It is hosted by alt ered
felsic metavolcanic rocks close to the contact with mafic metavolcanics rocks where the rock is pervasively
silicified. Mineralization is dominated by disseminated pyrite, locally up to 60% with minor pyrrhotite and
chalcopyrite. Limited previous rock sampling by Labrador Gold at Misery North has returned gold values up to
0.56 g/t Au.
“The early results of our 2019 exploration program at Hopedale are very promising and indicate that our
systematic approach to exploration of the belt is getting us into the most favourable areas for gold mineralization.”
said Roger Moss, President and Chief Executive Officer of Labrador Gold. “We anticipate further discoveries as we
continue our detailed, systematic follow up of the remaining anomalous areas that will allow us to select the best
targets for drilling.”
The 2019 exploration program at Hopedale is designed to follow up on successful results of 2017 and 2018 work
that outlined eight high potential areas of gold anomalies in both soil and rock in the belt (see table below and
maps at www.labradorgold.com/portfolio/hopedale/ ). These areas typically occur along geological contacts and
are commonly associated with magnetic anomalies. To date the company has collected 12,510 soil samples, 414
lake sediment samples and 633 rock samples along the length of the greenstone belt.
Target
Soil Au (ppb)
values*
Rock Au (ppb)
Values*
Anomalous
Trend Comments
Thurber
Boundary Bd up to 1,568 Bd up to 750 850 metres Close to mafic-sedimentary contact
Thurber North Bd up to 946 Bd up to 3,800 1,400 metres Close to ultramafic- felsic/mafic contact
Thurber South Bd up to 2,860 Bd up to 7,866 450 metres Close to ultramafic/felsic contact
Jasmine North Bd up to 135 Bd up to 4,549 1,100 metres Close to ultramafic/mafic contact
Jasmine South Bd up to 359
No significant
values 1,500 metres
Along both limbs of folded ultramafic
close to contact with sedimentary and
felsic volcanic rocks
Misery North Bd up to 201 Bd up to 560 400 metres
Close to ultramafic-felsic/mafic contact
along magnetic high
Misery Bd up to 2,224
Bd up to
11,400 2,000
Close to ultramafic- felsic contact along
interpreted extension of the Ugjoktok
shear zone
Schist Lakes Bd up to 93 Bd up to 381 N/A
Associated with a weak magnetic high
extending over 1,000 metres parallel to
stratigraphy
*See news releases dated February 5, 2019 and March 13, 2019 for further details of the results.
Bd = below detection: 5ppb for rock and 0.5ppb for soil.
Roger Moss, PhD., P.Geo., is the qualified person responsible for all technical information in this release.
About Labrador Gold:
Labrador Gold is a Canadian based mineral exploration company focused on the acquisition and exploration of
prospective gold p rojects in the Americas. In 2017 Labrador Gold signed a Letter of Intent under which the
Company has the option to acquire 100% of the 896 square kilometre (km 2) Ashuanipi property in northwest
Labrador and the Hopedale (458 km2) property in eastern Labrador.
The Hopedale property covers much of the Hunt River and Florence Lake greenstone belts that stretch over 80
km. The belts are typical of greenstone belts around the world but have been underexplored by comparison. Initial
work by Labrador Gold during 2017 show gold anomalies in soils and lake sediments over a 3 kilometre section of
the northern portion of the Florence Lake greenstone belt in the vicinity of the known Thurber Dog gold showing
where grab samples assayed up to 7.8g/t gold. In addition, anomalous gold in soil and lake sediment samples
occur over approximately 40 kilometres along the southern section of the greenstone belt (see news release dated
January 25th 2018 for more details). Labrador Gold now controls approximately 57km strike length of the Florence
Lake Greenstone Belt.
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 2017 reconnaissance exploration program following up the lake sediment anomalies 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 anomalies appear to be broadly
associated with magnetic highs and do not show any correlation with specific rock types on a regional scale (see
news release dated January 18th 2018). This suggests a possible structural control on the localization of the gold
anomalies. Historical work 30 km north on the Quebec side led to gold intersections of up to 2.23 grams per tonne
(g/t) Au over 19.55 metres (not true width) (Source: IOS S ervices Geoscientifiques, 2012, Exploration and
geological reconnaissance work in the Goodwood River Area, Sheffor Project, Summer Field Season 2011). Gold
in both areas appears to be associated with similar rock types.
The Company has 56,264,022 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.