Labrador GOLD Completes First Phase GOLD Exploration Program at Hopedale
NEWS RELEASE August 14, 2018
LABRADOR GOLD COMPLETES FIRST PHASE GOLD EXPLORATION PROGRAM AT HOPEDALE
VANCOUVER, BC, August 14, 2018 – Labrador Gold Corp. (T SX-V: LAB) (“Labrador Gold” or the “Company”) is
pleased to announce the completion of its first phase of detailed gold exploration in the Florence Lake
greenstone belt (FLGB). The company controls a 50-kilometre strike length of stratigraphy prospective for gold in
the belt. The exploration program at Florence Lake followed up on successful results of 2017 and included
detailed soil sampling, geological mapping, rock sampling and prospecting along the length of the belt.
A total of 7,783 soil samples were taken on 12 grids at a 100m line spacing and 25m sample spacing in the
southern portion of the FLGB. This portion of the belt was also mapped on a regional scale, with more detailed
mapping and rock sampling, totalling 174 samples, in areas of interest such as structural complexity, sulphide
occurrences and anomalous gold and/or arsenic from 2017 soil sampling. Investigation of one such anomalous
area revealed a quartz vein system with pyrite and arseno pyrite in the wall rock close to an historical arsenic
showing. Manual stripping uncovered the quartz vein system over a 40-metre strike length and over 10 metres
in width, with individual veins ranging from 0.5 to 2.5 metres wide. Composite chip samples were taken of all
veins as well as the host mafic volcanic rock for gold and multi-element analysis.
Detailed geological mapping and rock sampling were also undertaken over the three-kilometre strike length of
gold in soil and lake sediment anomalies encompassing th e Thurber Dog gold occurrences. Initial results of the
mapping confirmed the presence of a favorable north tre nding ultramafic, felsic a nd mafic volcanic sequence
hosting multiple sulphidic mineral occurrences over a stri ke length of 3.0 kilometres which remains open as the
sequence turns to the northeast.
Sulphide mineralization consisting of disseminated pyrite with lesser arsenopyrite plus specular hematite was
found hosted in sheared and gossanous quartz porphyritic felsic volcanic rocks predominately along its western
contact with mafic volcanic flows and eastern contact wi th ultramafic schists. The known Thurber Dog gold
showings were mapped and sampled alo ng strike as a string of sulphide occurrences for 50 to 400 metres in
length occurring as pinch and swell quartz veins and blow -outs which, based on hand-stripping, can widen up to
six metres. Sampling of the Thurber Dog showing by th e Company in 2017 assayed up to 7.87g/t Au (see news
release dated March 1st, 2018).
Sulphide mineralization is most prevalent in areas where the north trending volcanic sequence is cut by west-
southwest trending fault zones as seen at the main Th urber Dog showing. Similar cross cutting structures are
associated with a cluster of sulphide occurrences located at the centre and north end of the mapped block. The
centre cluster is of particular interest because the sulphide occurrences were mapped and sampled over a 300
by 400 metre area of scattered chaotic quartz injections and stockworks hosted in dislocated or rotated, mixed
felsic and mafic volcanic outcrops.
During the mapping program, a second parallel northeas t trending ultramafic/mafic volcano-sedimentary
sequence hosting sulphide occurrences was identified and prospected within the Thurber Dog block, north of
the main mineralized trend.
In total, about 146 rock samples of sulphide bearing and/or gossanous outcrop were taken over the Thurber Dog
block and submitted to Bureau Veritas Laboratories for gold and multi-element analyses, but no results have
been received to date.
A second phase of follow up sampling and mapping is pl anned for September 2018 once results of the initial
work have been received.
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. In 2017 Labr ador 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 Nain (503 km2) and Hopedale (458 km2) properties in eastern Labrador.
The Hopedale property covers much of the Hunt River a nd 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 an omalies 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).
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 pr ospecting, have not seen a systematic modern-day
exploration program. Results of the 2017 reconnaissance exploration program followi ng up the lake sediment
anomalies show gold anomalies in soils and lake sedime nts 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 no t show any correlation with specific rock types on a
regional scale (see news release dated January 18 th, 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 Services 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 50,842,552 common shares issued and ou tstanding 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.