Labrador GOLD Reports High Grade GOLD Assays up to 30.58g/t Au Between BIG Vein and Golden Glove
NEWS RELEASE August 16, 2023
LABRADOR GOLD REPORTS HIGH GRADE GOLD ASSAYS UP TO 30.58g/t Au
BETWEEN BIG VEIN AND GOLDEN GLOVE
TORONTO, ON, August 16, 2023 – Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold”
or the “Company”) is pleased to announce results from recent prospecting along the highly prospective
Appleton Fault Zone at its 100% owned Kingsway Project.
Recent prospecting between Big Vein and Golden Glove near the southern property boundary has located
a new gold showing, the Knobby occurrence. Grab samples from quartz vein outcrops returned gold values
from below detection (<5ppb) to 30.58 g/t including samples grading 0.4g/t, 2.7g/t and 29.19 g/t Au. Three
parallel veins were observed and have been traced along an east -west strike for approximately 200
metres. Stibnite mineralization was observed associated with the quartz veining. This is the first indication
of gold mineralization along the Appleton Fault Zone between Big Vein and Golden Glove, an area that
has seen little work to date.
“Today’s results of high-grade, surface gold mineralization in quartz vein outcrops between Big Vein and
Golden Glove is very encouraging for the prospectivity of this 3- kilometre section of the Appleton Fault
Zone.” said Roger Moss, President and CEO of Labrador Gold Corp. “This is an area that we have prioritized
for drilling in the la tter part of this year once we complete an ongoing ground magnetic/VLF sur vey and
receive the necessary permits . We are excited by the discovery of the Knobby occurrence which is
reminiscent of our initial discovery of Big Vein by prospecting almost three years ago.”
Figure 1. Location of Knobby occurrence between Big Vein and Golden Glove.
Figure 2. Geochemical anomalies between Big Vein and Golden Glove.
Figure 3. Photos of Knobby Vein outcrop.
Prospecting is ongoing in the area of the Knobby occurrence and Groundtruth Exploration is currently
completing a ground Mag/VLF survey extending from the southern property boundary to Big Vein.
LabGold has submitted an application to drill up to 95 drill holes along this portion of the Appleton Fault
Zone.
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 Wednesday, August 23rd at
12:00pm PT / 3:00pm ET. To register for the event please click the link below.
Registration Link: https://event.webinarjam.com/register/229/p512nhoy
QA/QC
All rock samples are grab samples, which are selective samples and not necessarily representative of
mineralization found on the property. Samples 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 compa ny
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 Resource s’
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 wi th encouraging results. The Company has
approximately $12 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 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.
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 se curities
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 r ate 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.