Labrador Gold Announces Up to 8.26 g/t Gold in Selected Grab Samples from New Showing at Hopedale Project, Labrador

Labrador Gold Announces Up to 8

Highlights:
Selected grab samples from new gold showing north of the Thurber Dog gold occurrence show assays between 1.67 and 8.26 g/t AuExtends potential strike length of gold mineralization by approximately 500 metres along strike to the northOccurs within a larger 3km trend of anomalous gold in rock and soil associated with the contact between mafic/ultramafic volcanic rocks and felsic volcanic rocksVANCOUVER, Nov. 22, 2019 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX-V: LAB) (“Labrador Gold” or the “Company”) is pleased to announce results of rock sampling at its Hopedale project in Labrador.The Company controls a 57-kilometre strike length of stratigraphy prospective for gold in the Florence Lake Greenstone Belt (FLGB). To date, the Company has defined eight high potential areas for gold within the belt. The 2019 exploration program was designed to generate drill targets within these areas using detailed geological mapping, rock sampling and prospecting and ground magnetics/VLF-EM (very low frequency electromagnetics).Sampling of the prospective areas resulted in 201 rock samples with gold values ranging from below the detection limit of 5 parts per billion (ppb) to 8.26 grams per tonne (g/t) in selected grab samples. The highest gold values were from three samples taken at the site of a new mineralized showing discovered shortly after the start of field work (see News Release dated July 26, 2019). The showing is located approximately 500 metres north, and along strike of, the Thurber Dog gold occurrence where previous Labrador Gold rock sampling returned values up to 7.87 g/t Au. Mineralization is comprised of disseminated to semi-massive pyrite and arsenopyrite hosted by felsic metavolcanic rocks with pervasive iron oxide alteration. The three samples from the occurrence assayed 1.67 g/t Au, 2.83 g/t Au and 8.26 g/t Au.Anomalous gold values were also found in samples from elsewhere in the targeted areas and range from 0.11 g/t Au to 0.6 g/t Au (See table below). To date the company has collected 12,510 soil samples, 414 lake sediment samples and 834 rock samples along the length of the greenstone belt.“Our systematic approach to exploration of the Florence Lake belt continues to turn up anomalous gold values in areas of high potential.” said Roger Moss, President and Chief Executive Officer of Labrador Gold. “The Thurber Dog area stands out as the most consistently mineralized gold trend in the belt and we are still finding gold mineralization that fills in gaps along the three kilometre stretch of anomalous gold in both rock and soil. The discovery of the new gold showing this season is the latest addition to what is turning into a prolific trend.”
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