Labrador GOLD Intersects 6.07 G/T Au over 19 Metres at the BIG Vein Target, Kingsway Property
NEWS RELEASE
April 5, 2022
LABRADOR GOLD INTERSECTS 6.07 G/T AU OVER 19 METRES AT THE BIG VEIN TARGET, KINGSWAY PROPERTY
TORONTO, ON, April 5, 2022 – Labrador Gold Corp. ( TSX.V:LAB | OTC QX:NKOSF | FNR: 2N6 ) (“LabGold” or the
“Company”) is pleased to announce the latest assay results from diamond drill ing that show high-grade
intercepts in hole K -21-111 from Big Vein at its 100% controlled Kingsway project near Gander, Newfoundland.
This hole was drilled as part of the Company’s ongoing 10 0,000 metre drill program targeting the 12km strike
length of the Appleton Fault Zone at Kingsway.
Hole K-21-111 was drilled to target down plunge mineralization in the high- grade HTC zone below the Big Vein
Fault Zone. The hole intersected 6.07 g/t Au over 19 metres from 123 metres , the longest interval of gold yet
found at Big Vein.
The HTC Zone remains open at depth and to the northeast and additional sample assays from 1,286 metres of
drilling are pending from this zone. Drilling continues to target this high-grade zone at depth and along strike.
“The Big Vein target continues to deliver exceptional results as indicated by Hole K -21-111,“ said Roger Moss,
President and CEO of the Company. “The mineralization intersected in the hole is part of a steeply plunging high-
grade gold region within the northeast to north- trending HTC Zone . This target shows good vertical continuity
and has now been defined to a depth of approximately 250m and remains open. Approximately 47% of samples
submitted to the lab remain pending most of which are from Big Vein, including the HTC Zone. We look forward
to receiving these results and expanding the Big Vein target along strike and at depth.”
Hole ID From (m) To (m) Interval (m) Au (g/t) Zone
K-21-111 123 142 19 6.07
HTC including 130 136 6 15.17
including 131 133 2 35.09
Table 1. Summary of Assay Results
All intersections are downhole length as there is insufficient Information to calculate true width.
Figure 1. Big Vein plan map
Figure 2. Big Vein long section
Hole ID Easting Northing Elevation Azimuth Dip depth
K-21-111 661601 5435280 42.0 145 55 224
Table 2. Drill hole collar details
Big Vein target
The Big Vein target is an auriferous quartz vein exposed at surface that has been traced over 400 metres
subparallel to the Appleton f ault zone. It is located approximately 200m from the Appleton fault zone, through
which the gold- mineralizing fluids likely migrated. At Big Vein, gold mineralization is closely associated with a
secondary structure, the Big Vein f ault zone, that separates siltstone and sandstone hosting the Big Vein zone
from the finer shale that hosts the HTC and HTC footwall zones.
Gold mineralization observed at Big Vein includes visible gold t ypically hosted in annealed and vuggy gray
quartz, that is locally stylolitic with v ugs often containing euhedral quartz infilling. Drilling has produced high
grade intercepts as well as wide areas of gold mineralization associated with significant quartz veining and
sulphide mineralization including arsenopyrite, pyrite noted along vein margins and as strong disseminations in
the surrounding wall rocks.
The ongoing 100,000 metre drill program has now tested Big Vein over a pproximately 250 m etres of strike
length and to vertical depths of 250 metres. A total of 37,393 metres of the planned 100,000 metres have been
completed in 116 holes , primarily at Big Vein. Assays have been received for 53 % of samples submitted to the
laboratory.
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 km 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 155,354,110 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
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
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forward-looking statements.