Labrador GOLD Announces Results of Summer Field Work at the Hopedale Project Including 32.32g/t Au at the North End of the 3KM Thurber GOLD Trend
NEWS RELEASE October 24, 2024
LABRADOR GOLD ANNOUNCES RESULTS OF SUMMER FIELD WORK AT THE HOPEDALE PROJECT
INCLUDING 32.32g/t Au AT THE NORTH END OF THE 3KM THURBER GOLD TREND
TORONTO, ON, October 24, 2024 – Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6)
(“LabGold” or the “Company”) is pleased to announce th e results of the 202 4 exploration program at its
100% owned Hopedale Project in Labrador. The district scale Hopedale property covers a 43km strike length
of the Archean -age Florence Lake greenstone belt which has characteristics typical of greenstone belts
around the world but has been underexplored by comparison.
Highlights
• Thurber North
o High grade gold value of 32.32g/t and anomalous value of 0.81g/t at the north end of the
3km Thurber gold trend
• Thurber Boundary occurrence
o Anomalous gold value of 0.9 g/t and copper (349ppm) within an 850m long anomalous
zone defined by historical sampling, including soil samples up to 1,568 ppb Au and rock
samples up to 0.75g/t Au
o Indicates potential to extend the Thurber Gold trend a further 1.5km north
• Fire Ant gold occurrence
o High-grade gold of 9.35g/t and anomalous values of 0.3g/t and 0.19g/t Au with 10.8g/t Ag
in rock grab samples close to a 2023 high grade sample grading 106g/t Au and 20.4g/t Ag
o Gold mineralization now traced over an area of 250 metres by 270 metres along the
contact of ultramafic volcanic rocks and gossanous felsic volcanic rocks
• Jasmine Occurrence
o Ground electromagnetics show an approximately 400m long conductor adjacent to a
sample of semi massive sulphide grading 0.97% Zn and 0.25% Cu within a 1.5km trend of
anomalous Cu-Zn in rock and soil
• Stone Fly Occurrence
o New copper occurrence with 0.55% Cu and anomalous gold (0.1 to 0.2g/t)
• Fourteen occurrences now identified on the Hopedale project reflecting multiple mineralization
styles including orogenic gold, magmatic Ni sulphide, copper-silver vein and Zn-rich volcanogenic
massive sulphide (Figure 1.)
Prospecting along the Thurber gold trend during 2024 continued to highlight the significant potential of
the area. The highest-grade sample of 32.32g/t Au yet collected along the trend was found at Thurber
North, and anomalous samples of 0.96g/t Au and 0.5g/t Au were collected approximately 150m north of
TD500 and 100m south of Thurber North, respectively (Figure 2).
The three-kilometre trend is defined by four significant gold occurrences surrounded by anomalous gold
in rock and soil samples (Figure 2) that occur along the contact of intensely carbonate altered ultramafic
volcanic rocks and altered felsic or mafic volcanic rocks.
A sample grading 0.93g/t Au was collected from the Thurber Boundary area approximately 1.5 kilometres
north of Thurber North. Thurber Boundary is defined by s oil samples up to 1,568 ppb Au , including five
greater than 500ppb, and previous rock samples up to 0. 75 g/t Au. These a nomalous samples extend
over 850 metres from the northern property boundary southwestward towards Thurber North and
indicate the potential to extend the Thurber gold trend to the property boundary.
“The district scale Hopedale project, stretching over 43km, continues to demonstrate the potential we
expect from an Archean greenstone belt. The three-kilometre-long Thurber gold trend, with the potential
to extend it an additional 1.5km to the property b oundary, is the most prospective area found to date,
and has drill ready targets at TD500 and Thurber Dog. Gold and base metal occurrences found by LabGold
to the south are also encouraging and indicate the diversity of mineralization styles that can occur in a
greenstone belt environment” said Roger Moss, President and CEO. “While work has continued at
Hopedale, we are also reviewing advanced stage gold projects for potential acquisition and continue to
narrow down potential candidates.”
Figure 1. Location of the nickel, copper, gold and zinc occurrences on the Hopedale Property.
Figure 2. Gold and copper potential of the Thurber license, north Florence Lake greenstone belt.
Figure 3. Cu-Zn Geochemistry and EM conductors in the Jasmine area.
Table 1. Highlights of rock sample assays from 2024 exploration program. Note that grab samples are
selective samples and may not be representative of the mineralization found on the property.
QA/QC
Rock samples comprise grab samples, which are selective samples and not necessarily representative of
mineralization found on the property. Samples were securely stored prior to shipping to analytical labs for
assay. Rock samples were assayed at Eastern Analytical Laboratory in Springdale, an ISO/IEC17025
accredited laboratory for gold by standard 30g fire assay with atomic absorption finish as well as by ICP-OES
for an additional 34 elements. The company submits blanks and certified reference standards amounting
to 5% of each sample 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’
2023 Junior Exploration Assistance (JEA) Program and the Atlantic Canada Opportunities Agency’s Critical
Minerals Assistance for its financial support for exploration of the Hopedale 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. The Company has approximately $6 million in
working capital and holds 5,263,157 common shares of New Found Gold currently valued at
approximately $18.2 million.
The Hopedale property covers much of the Archean-age Florence Lake greenstone belt that stretches over
60 km. The belt is typical of greenstone belts around the world but has been underexplored by
Sample ID Easting Northing Sample
Type
Au
(ppb)
Ag
(ppm)
Cu
(ppm) Occurrence
172709 655238 6114134 Float 933 0.7 349 Thurber Boundary
172713 654888 6112409 Grab 32,316 1.4 70 Thurber North
172714 654888 6112409 Subcrop 806 0.1 5 Thurber North
833496 654878 6112320 Grab 505 0.1 6 100m South of Thurber North
833471 639034 6075438 Grab 9,353 1.3 13 Fire Ant
833472 639034 6075229 Grab 302 0.1 216 Fire Ant
833469 639124 6075432 Grab 191 10.8 692 Fire Ant
833468 654801 6110827 Grab 965 0.6 72 150m north of TD500
833497 643595 6079949 Grab 335 1.6 335
833452 641785 6077018 Grab 215 0.7 27
833478 642673 6084631 Grab 172 0.3 159 Schist Lakes
172707 643139 6085581 Subcrop 161 1 97 Schist Lakes
172703 655005 6113681 Grab 142 0.1 32
833459 645206 6095252 Grab 118 0.3 314 Misery North
172712 647518 6100617 Subcrop 113 0.5 82 Jasmine
833453 641805 6077031 Float 112 0.2 27
833454 641826 6077036 Grab 101 4.5 5,478 Stone Fly
comparison. Work 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. Five gold occurrences
lie along this trend, four of which Thurber Boundary, Thurber North, TD500 and Thurber South were
discovered by LabGold. Anomalous gold in soil and lake sediment samples also occur over approximately
40 km along the southern section of the greenstone belt. LabGold’s recent exploration has also
demonstrated the potential for the critical metals copper, nickel and cobalt in the belt.
The Company has 170,009,979 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
X @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 underlying 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.