Labrador Gold Announces Staking of Additional Claims at Ashuanipi Additional 296 claims staked to cover potential extension of district scale anomaly
Labrador Gold Announces Staking of Additional Claims
at Ashuanipi
Additional 296 claims staked to cover potential extension of district scale
anomaly
Vancouver, British Columbia--(Newsfile Corp. - January 19, 2018) - Labrador Gold Corp. (TSXV: LAB) ("Labrador Gold" or the
"Company") is pleased to announce the staking of an additional 296 claims covering 74 square kilometres on the Ashuanipi
project in western Labrador. The claims were staked to the west of the original Ashuanipi north claim block. This brings the total
number of claims staked recently to 468.
The new claims are on the Labrador side of the Quebec-Labrador border and were staked to cover the possible western
extension of an east-west district scale gold anomaly. The anomaly is one of two gold anomalies in soils and lake sediments and
extends over a 14 kilometre long by 2 - 4 kilometre wide east-west trend. The second anomaly extends over a 15 kilometre long
by 2 - 6 kilometre wide north-south trend (see News Release dated January 18, 2018). Gold values in lake sediments ranged
from 0.1 to 202.5 parts per billion (ppb) and those in soils ranged from 0.1 to 1,424 ppb (1.4 g/tonne) gold with 14 samples
containing more than 100 ppb Au, and two samples containing more than 1 g/tonne Au.
"We have moved quickly to cover the potential extensions of the exciting new district scale gold target outlined by our initial
exploration," said Roger Moss, Chief Executive Officer of Labrador Gold. "With almost 900 square kilometres now under control
we intend to aggressively explore this significant land package during 2018."
Labrador Gold has now staked a total of 468 claims contiguous with the original northern Ashuanipi claims in Labrador since
receiving the results of the sampling. The new claims cover an area of 156 square kilometres of similar rock types and magnetic
signatures as seen on the original Ashuanipi claim block. The Ashuanipi property now covers a total of 896 square kilometres.
Work during 2018 will focus on testing and extending the anomalous areas, beginning with an early spring airborne magnetic
survey followed by detailed soil sampling (100 metre spaced lines) and prospecting/mapping along the anomalies during
spring/summer to generate targets for potential late summer drilling.
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 projects in the Americas. Labrador Gold recently signed a Letter of Intent under which the Company has the option to
acquire 100% of the 740 square kilometre (km
2
) Ashuanipi property in northwest Labrador and the Nain (503 km
2
) and
Hopedale Greenstone (458 km
2
) properties in central Labrador.
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. Recent regional geological
mapping in the area by the Newfoundland and Labrador Geological Survey has highlighted the gold potential of the region and
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). Gold in both areas appears to be associated with metamorphosed iron formation.
The Nain gold project comprises three claim blocks, two of which lie along the Nain-Churchill terrane boundary. One of the claim
blocks, Sneegamook, has the largest and most intense gold in lake sediment anomaly in Labrador, but no known gold
exploration has taken place in the area.
The Hopedale greenstone properties cover 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. Historical exploration
did result in a gold showing of up to 7.5 g/t Au, but no significant gold exploration has been undertaken since the discovery.
The company has 36,724,225 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
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
.