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Labrador Gold extends high-grade gold mineralization 250 meters southwest of Big Vein Discovery. CanadianBusinessJournal

Toronto, March 29, 2022 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V: LAB | OTCQX: NKOSF | FNR: 2N6) (“Lab Gold” or “Company”) provides the latest analysis of diamonds. Announced. Drilling showing high-grade sections of gold mining near the surface along the Appleton Fault Zone in a 100% controlled Kingsway project near Gander, Newfoundland. These holes were drilled as part of our ongoing 100,000-meter drilling program targeting a 12km strike length in the Kingsway Appleton Fault Zone.

All 10 holes were drilled into the Big Vein target, with a section of 17.63 g / t Au over 1.25 m in the hole of K-21-98 and a section of 14.50 g / t Au over 1 m from the hole in K-21-82. is included. High-grade gold mining action in both plunge and strike.
The 17.63 g / t section of hole K-21-98, which exceeds 1.25 m, is located approximately 250 m southwest of the Big Vein discovery outcrop, the most southwestern high-grade intersection to date. Mineralization remains open in this direction, additional holes have been drilled in this area, and results are pending.
A 14.50 g / t section of hole K-21-82 meets the downplunge mineralization of the HTC zone, which remains open at a depth of less than 250 m.
Wider spacing of 1.25 g / t Au over 7.20 m for hole K-21-82 and 1.82 g / t Au over 10.8 m for hole K-21-81 also intersected from the Big Vein zone and the HTC zone, respectively. ..

Roger Moss, president and chief executive officer of the company, said: “Currently, we are tracking multiple gold-containing quartz veins over this 250m strike length at Big Vein. Mineralization remains open in both northeast and southwest directions, and drilling continues to step out in both directions. , Testing the plunge. Drilling is also underway at the GoldenGlove and Pristine targets and was recently started at the Midway target. “

Hall ID from To length Au (g / t)
K-21-109 17.15 18.30 1.15 4.60
K-21-98 123.00 126.00 3.00 1.73
150.00 151.25 1.25 17.63
K-21-89 228.00 229.00 1.00 1.74
K-21-87 59.00 63.00 4.00 1.30
K-21-86 76.00 77.00 1.00 1.79
K-21-82 53.24 60.44 7.20 1.25
include 53.24 54.04 0.80 4.09
146.00 150.00 4.00 1.98
167.00 168.00 1.00 3.07
172.80 173.80 1.00 14.50
K-21-81 179.20 190.00 10.80 1.82
include 179.20 180.20 1.00 5.16
When 189.00 190.00 1.00 3.95
K-21-80 35.00 36.00 1.00 1.30
140.00 141.00 1.00 1.17
142.00 143.00 1.00 1.26
181.00 182.00 1.00 1.32
220.70 221.50 0.80 2.19
K-21-78 157.00 158.00 1.00 1.72
264.00 265.00 1.00 1.43
k-21-77 197.00 199.00 2.00 1.32

Table 1. Summary of assay results
All intersections are downhaul lengths because there is not enough information to calculate the true width.

Figure 1. Vena cava planning map.
https://www.globenewswire.com/NewsRoom/AttachmentNg/e3647972-a8b7-4cc7-b5d4-0b405f1d1a88

Hall ID East Nothing elevation Azimuth Immersion depth
K-21-109 661789 5436058 55.51225 260 60 218.00
K-21-98 661446.9 5435040 30.83567 150 45 45 281.00
K-21-89 661560.6 5435246 45.08669 125 60 236.00
K-21-87 661560.7 5435245 45.02648 145 60 227.00
K-21-86 661447 5435039 31.55391 135 55 55 263.00
K-21-82 661560.6 5435246 45.03931 139 58.5 239.33
K-21-81 661467.6 5435224 52.38159 130 70 383.00
K-21-80 661447.4 5435039 31.46297 130 45 45 264.70
K-21-78 661441.9 5435187 50.53209 130 47.5 341.00
K-21-77 661442.3 5435187 50.51612 130 52.5 287.00

Table 2. Details of drill hole collar

Large vein target

The Big Vein target is a surface-exposed gold-containing quartz vein traced over 400 meters quasi-parallel to the Appleton fault zone. It is located about 200m from the Appleton fault zone, and gold mining fluid may have moved. In Big Vein, gold mineralization is closely associated with the Big Vein fault zone, a secondary structure that separates siltstone and sandstone that host the Big Vein zone from the finer shale that hosts the HTC and HTC footprint zones. (See Figure 1).

The gold mineralization observed at Big Vein usually includes visible gold hosted in annealed buggy gray quartz. The excavation produced important quartz veins including arsenopyrite and pyrite and high-grade sections and extensive gold mineralization associated with sulphide mineralization, showing strong diffusion into the surrounding rock rocks.

An ongoing 100,000-meter drill program tested Big Bain with a strike length of approximately 250 meters and a vertical depth of 250 meters. A total of 37,393 meters of the planned 100,000 meters were completed primarily in 116 holes in the Big Bain. Assays have been performed on 51% of the samples submitted to the laboratory.

QA / QC

The actual width of the reported intersection has not yet been calculated. The assay has not been cut. HQ split core samples are safely stored for analysis before shipping to the Eastern Analytical Laboratory in Springdale, Newfoundland. Eastern Analytical is an ISO / IEC 17025 accredited laboratory. Samples are regularly analyzed for gold by standard 30g fire analysis using atomic absorption spectrometry and ICP-OES with an additional 34 elements. Samples containing visible gold are analyzed by metal screen / fire analysis as well as samples with fire analysis results above 1 g / t Au. The company submits a reference standard certified as blank at a rate of approximately 5% of all samples in each batch.

Qualified person

Roger Moss, PhD, President and CEO of Lab Gold, a qualified person who complies with the Canadian regulatory requirements set out in NI 43-101. , P.Geo. Is the disclosure contained in this release.

We would like to thank the Newfoundland and Labrador Ministry of Natural Resources’ Junior Exploration Assistance (JEA) program for providing financial support for the exploration of Kingsway’s assets.

About Labrador Gold
Labrador Gold is a Canada-based mineral exploration company focused on the acquisition and exploration of future gold projects in eastern Canada.

At the beginning of 2020, Labrador Gold acquired the option to acquire a 100% stake in the Kingsway project in the Gander region of Newfoundland. The three licenses that make up the Kingsway project cover approximately 12km of the Appleton Fault Zone associated with gold generation in the region, including the New Found Gold license just south of Kingsway. The area’s infrastructure is located just 18 kilometers from the town of Gander and is in excellent location with road access to the project, nearby electricity and abundant local water. After encouraging early results, LabGold is drilling an estimated 50,000 meters along the Appleton Fault Zone for high-grade epizonal gold mining. We have about $ 28 million in working capital and have sufficient funds to carry out the planned program.

The Hopedale property covers many of Florence Lake’s Greenstone belts over 60km. Belts are typical of greenstone belts around the world, but have not been thoroughly investigated by comparison. Previous studies by Labrador Gold have shown gold anomalies in rock, soil, and lake sediments in a 3 km northern section of the Florence Lake Greenstone Belt near known server dog gold, grab samples. Shown where was analyzed up to 7.8 g /. t gold. In addition, anomalous gold in soil and lake sediment samples occurs over approximately 40 km along the southern part of the Greenstone belt (see news release dated January 25).th For details 2018). Labrador Gold currently controls a strike length of approximately 40km on the Florence Lake Greenstone Belt.

We hold 155,354,110 shares of common stock issued and are traded on the TSX Venture Exchange under the LAB symbol.

For more information, please contact:

Roger Moss, President and CEO Tel: 416-704-8291

Alternatively, please visit our website at www.labradorgold.com.

Twitter: @LabGoldCorp

Neither the TSX Venture Exchange nor its regulatory service provider (the term is defined in the TSX Venture Exchange Policy) is responsible for the validity or accuracy of this release...

Forward-looking statement: This news release contains forward-looking statements with risks and uncertainties and may differ materially from those in which actual results were made. When used in this document, “may”, “do”, “can”, “do”, “intention”, “plan”, “expect”, “believe”, “estimate”, Expressions such as “expect” The purpose is to identify forward-looking statements. Such statements reflect our current view of future events and are subject to risks and uncertainties. Many factors, including those discussed in the filings with Canadian securities regulators, can cause the actual results to differ materially from the statement made. These risks and uncertainties include the actual results of current exploration programs, general risks associated with the mining industry, prices of gold and other metals, fluctuations in currencies and interest rates, intensifying competition, general economic and market factors, etc. If one or more certainty occurs, if it occurs, or if the assumptions underlying the forward-looking statement are found to be incorrect, the actual results are intent, plan, forecast, or as expected. , May differ significantly from those described in this document. We have no intention or obligation to update these forward-looking statements, except as required by law. Shareholders should be careful not to place excessive trust in such forward-looking statements.


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Labrador Gold extends high-grade gold mineralization 250 meters southwest of Big Vein Discovery. CanadianBusinessJournal

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