LABRADOR GOLD INTERSECTS 31.86g/t OVER 0.45 METRES IN FOURTH HOLE AT NEW DROPKICK TARGET 3.4 KILOMETRES NORTHEAST OF BIG VEIN Company Webinar to be Held on Tuesday, June 27th at 12:30pm ET (details below).
NEWS RELEASE June 20, 2023
LABRADOR GOLD INTERSECTS 31.86g/t OVER 0.45 METRES IN FOURTH HOLE AT NEW DROPKICK
TARGET 3.4 KILOMETRES NORTHEAST OF BIG VEIN
Company Webinar to be Held on Tuesday, June 27th at 12:30pm ET (details below).
TORONTO, ON, June 20, 2023 – Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold”
or the “Company”) is pleased to announce results from recent drilling targeting the highly prospective
Appleton Fault Zone. The drilling is part of the Company’s ongoing 100,000 metre diamond drilling
program at its 100% owned Kingsway Project.
Highlights of the initial drilling at Dropkick include an intersection of 1.97g/t Au over 9.45 metres from
198.55 metres including 3.13g/t over 5.45 metres and 31.86g/t over 0.45 metres that contained visible
gold in Hole K- 22-228B, just the fourth hole in the target . Hole K-23-227 intersected 1.15g/t Au over 4
metres from 123 metres and 1.06g/t over 5.27 metres from 130.73 metres. Hole K -23-224 intersected
1.74g/t Au over 5.07 metres from 170.93 metres including 2.72g/t over 3.16 metres. Dropkick is located
approximately 3.4 kilometres northeast of Big Vein.
Ongoing drilling at Big Vein returned near surface gold values of 1.06g/t Au over 9.63 metres from 47.64
metres, including 2.28g/t over 2.26 metres in Hole K -23-225 and 3.66g/t Au over 1.04 metres from 11
metres in Hole K-23-221.
“We are very encouraged by the initial drilling at the new Drop kick target, especially given its distance
from Big Vein. Dropkick is the fifth of six targets where drilling intersected significant gold mineralization,
a testament to the highly prospective nature of the Appleton Fault Zone on the Kingsway property and
the dedication of the LabGold team .” said Roger Moss, President and CEO of Labrador Gold Corp. “ The
five targets occur over a 7.3km long segment of the Appleton Fault Zone, but significant gaps still exist.
We are optimisti c that ongoing target development and drilling in these gaps will lead to further
discoveries at Kingsway.”
Hole ID From (m) To (m) Width (m) Au (g/t) Target/Zone
K-23-228B 198.55 208.00 9.45 1.97
DropKick including 198.55 204.00 5.45 3.13
including 198.55 199.00 0.45 31.86
K-23-227 123.00 142.00 19.00 0.88
DropKick including 130.73 136.00 5.27 1.06
and 123.00 127.00 4.00 1.15
K-23-225 47.64 57.00 9.63 1.06 Big Vein including 47.64 49.90 2.26 2.28
K-23-224 170.93 176.00 5.07 1.74 Dropkick including 170.93 174.09 3.16 2.72
K-23-223 115.75 117.05 1.30 1.35 Dropkick
K-23-221 11.00 12.04 1.04 3.66 Big Vein 293.00 295.00 2.00 1.24
Table 1. Summary of assay results. All intersections are downhole length
as there is insufficient Information to calculate true width.
Figure1. Plan map of Big Vein showing significant intersections.
Figure 2. LabGold occurrences along the Appleton Fault Zone
Almost 72,000 metres have been drilled to date out of the planned 100,000 metre program. Assays are
pending for samples from approximately 4,730 metres of core.
The Company has approximately $14 million in cash and is well funded to carry out the remaining
28,000 metres of the planned drill program as well as further exploration to add to the current pipeline
of drill targets on the property.
Hole ID Easting Northing Elevation (m) Azimuth Inclination Depth (m)
K-23-228B 663349 5438348 64 140 65 254.00
K-23-228 663349 5438348 64 140 65 126.20
K-23-227 663349 5438348 64 140 45 215.00
K-23-226 661173 5434794 43 140 45 528.00
K-23-225 661623 5435460 48 145 50 275.00
K-23-224 663220 5438195 63 140 65 227.23
K-23-223 663220 5438195 63 140 45 140.00
K-23-221 661646 5435342 53 145 75 530.17
Table 2. Drill hole collar details
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. Samples 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.
Upcoming Webinar
The Company is also pleased to announce that LabGold CEO, Roger Moss, will be presenting an exploration
update on the Kingsway Project in a live webinar taking place on Tuesday, June 27 th at 9:30am PT /
12:30pm ET. To register for event please click the link below.
Registration Link: https://event.webinarjam.com/register/207/69q31fy4
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.
Labrador Gold ’s flagship property is the 100% owned 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 numerous gold occurrences in the region. 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 100,000 metres targeting high- grade
epizonal gold mineralization along the Appleton Fault Zone with encouraging results. The Company has
approximately $14 million in working capital and is well funded to carry out the planned program.
The Hopedale property covers much of the Florence Lake greenstone belt that stretches over 60 km. The
belt is typical of greenstone belts around the world but has been underexplored by comparison. Work to
date by Labrador Gold show gold anomalies in rocks, soils and lake sediments over a 3 kilometre sectio n
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 km along the southern section of the greenstone belt (see
news release dated January 25th 2018 for more details). Labrador Gold now controls approximately 40km
strike length of the Florence Lake Greenstone 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
@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 desc ribed 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.