Labrador GOLD Announces New Discovery of Near Surface GOLD at Midway 2.7KM North of BIG Vein
NEWS RELEASE
April 19, 2022
LABRADOR GOLD ANNOUNCES NEW DISCOVERY OF NEAR SURFACE GOLD AT MIDWAY 2.7KM NORTH OF BIG VEIN
• Hole K-22-157 intersected 3.53 g/t Au over 6 metres from 37 metres including 5.71 g/t Au over 3 metres
in altered and sulphidised gabbro.
• The mineralization was intersected in just the third diamond drill hole at the Midway target.
• Midway lies between the Appleton Fault Zone and the Dog Bay Line, approximately 2.7km North of Big
Vein and 1.4km southwest of the Cracker gold occurrence.
• The new discovery at Midway, along strike from the Cracker gold occurrence, opens up a potential
second gold mineralized system subparallel to the Appleton Fault Zone.
TORONTO, ON, April 19, 2022 – Labrador Gold Corp. ( TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the
“Company”) is pleased to announce a new discovery of near surface gold mineralization from diamond drilling at
the Midway target at its 100% controlled Kingsway project near Gander, Newfoundland. This hole was drilled as
part of the Company’s ongoing 100,000 metre drill program and represents a new target for gold at Kingsway.
Hole K-22-157 was drilled to test anomalous gold values at the Midway target and intersected 3.53 g/t Au over 6
metres from 37 metres including 5.71 g/t Au over 3 m etres. Midway lies between the Appleton Fault Zone and
the Dog Bay Line, two major structures in the region, approximately 2.7km north of Big Vein and represents a
different mineralized system. The gold mineralization was intersected in just the third diamond drill hole at
Midway. The mineralization is hosted by a strongly altered and sulphidised gabbro that intruded the siltstone
and sandstone. Higher gold grades are associated with increased pyrite and arsenopyrite abundance and strong
potassic feldspar, carbonate and silica alteration.
“The gold mineralization intersected at Midway represents a different style of mineralization than what we see
at Big Vein. It is similar to that found at the Cracker gold occurrence approximately 1.4 kilometres northeast of
Midway,“ said Roger Moss, President and CEO of the Company. “Th is new discovery at Midway, in addition to
the gold mineralization at Cracker , opens up a potential second mineralized system at Kingsway. We know that
gabbroic intrusions occur intermittently along strike to the northeast and southwest of Cracker and Midway and
believe that these intrusions have come up along a structure subparallel to the Dog Bay Line and the Appleton
Fault Zone. While our main focus remains generating and drilling targets along the Appleto n Fault Zone, we will
continue to investigate the potential of the gabbro hosted gold mineralization on the property.”
Hole ID From (m) To (m) Interval (m) Au (g/t)
K-22-157 37 43 6 3.53
including 40 43 3 5.71
Table 1. Summary of Assay Results
All intersections are downhole length as there is insufficient Information to calculate true width.
Figure 1. Midway plan map
Figure 2. Location map showing Midway and other gold occurrences at Kingsway.
Hole ID Easting Northing Elevation (m) Azimuth Dip Depth (m)
K-22-157 661375 5437835 75.4 300 65 86
Table 2. Drill hole collar details
Midway and Cracker gold occurrences
Gold mineralization at both Midway and Cracker is hosted by altered gabbro. Quartz -carbonate alteration is
present in both cases, with K -feldspar alteration also prominent at Midway. Disseminated pyrite and
arsenopyrite are also associated with the gold mineralization. Historical grab samples from the Cracker
occurrence include assays of 61.73 g/t, 33.87 g/t and 16.4 g/t Au. It is believed that these gold occurrences
represent the presence of a fertile structure developed by the rheological contrast between the gabbro and the
sediments forming the country rock. (Note that grab samples are select samples and are not necessarily
representative of gold mineralization found on the property).
Gabbroic intrusions are known to occur along strike to the northeast and southwest of the Cracker and Midway
occurrences and extend intermittently across the entire property, a distance of approximately 21 kilometres.
Samples from some of these gabbros have returned anomalous gold mineralization suggesting the potential for
an extensive mineralized system subparallel to the Appleton Fault Zone and the Dog Bay Line.
QA/QC
True widths of the reported intersections have yet to be calculated. Assays are uncut. Samples of HQ split core
are securely stored prior to shipping to Eastern Analytical Laboratory in Springdale, Newfoundland for assay.
Eastern Analytical is an ISO/IEC17025 accredited laboratory. Samples are routinely analyzed for gold by standard
30g fire assay with atomic absorption finish as well as by ICP -OES for an additional 34 elements. S amples
containing visible gold are assayed by metallic screen/fire assay , as are any samples with fire assay results
greater than 1g/t Au. The company submits blanks and certified reference standards at a rate of approximately
5% of the total samples in each batch.
Qualified Person
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 2020, Labrador Gold acquired the option to earn a 100% interest in the Kingsway project in the Gander
area of Newfoundland. The three licenses comprising the Kingsway project cover approximately 12 km of the
Appleton Fault Zone which is associated with gold occurrences in the region, including those of New Found Gold
immediately to the south of Kingsway . 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. LabGold is drilling a
projected 50,000 metres targeting high- grade epizonal gold mineralization along the Appleton Fault Zone
following encouraging early results . The Company has approximately $28 million in working capital and is well
funded to carry out the planned program.
The Hopedale property covers much of the Florence Lake greenstone belts that stretches over 60 km. The belt is
typical of greenstone belts around the world but ha s been underexplored by comparison. W ork to date by
Labrador Gold show gold anomalies in rocks, 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 k m along the southern section of the greenstone belt (see news release dated January 25 th
2018 for more details). Labrador Gold now controls approximately 40km strike length of the Florence Lake
Greenstone Belt.
The Company has 155,589,526 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
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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
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risks and uncertainties. Many factors could cause our actual results to differ materially from the
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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 underlying the forward looking statements prove incorrect,
actual results may vary materially from those described herei n as intended, planned, anticipated, or
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