Labrador Gold begins 2018 Gold Exploration Program at Hopedale
Tuesday, Jul 17, 2018
Labrador Gold Corp. is pleased to announce the mobilization of field crews to begin detailed gold exploration of the Florence Lake greenstone belt (FLGB). The company controls a 50-kilometre strike length of stratigraphy prospective for gold in the belt.

The exploration program at Florence Lake is intended to follow up on successful results of 2017 and will include detailed soil sampling, geological mapping, rock sampling and prospecting along the length of the belt. Detailed work is scheduled for the three-kilometre strike length of gold in soil and lake sediment anomalies encompassing the Thurber Dog occurrences where grab samples have assayed up to 7.87g/t Au.

Results of the soil and lake sediment sampling during 2017 demonstrated the potential for gold mineralization along the entire length of the FLGB with anomalous gold in soil samples found over an approximately 40-kilometre strike length of the belt (see News Release dated January 25, 2018). Initial prospecting during the exploration program resulted in assays up to 7.87 g/tonne Au (range <5ppb to 7.87) in a composite grab sample from carbonatized ultramafic rock. Labrador Gold’s data, combined with results of work during the 80s and 90s, show a trend of significant gold anomalies in rocks and soils stretching over a 3km strike length that encompasses the known Thurber Dog gold showings. In addition to the gold values found by Labrador Gold, highlights of historical data include grades of 3.97 g/t Au in a 5m chip channel sample of a quartz carbonate vein with 4.1 g/t Au in a sample from the wall rock to the vein and 1.89 g/t Au in 6m chip channel sample through a quartz vein containing arsenopyrite. (See News release dated March 1, 2018).

Gold is typically associated with quartz-carbonate veins in carbonatized ultramafic metavolcanic rocks accompanied by arsenopyrite and pyrite. Felsic metavolcanic rocks, commonly altered to quartz-sericite schist, that occur adjacent to the ultramafic rocks also host gold mineralization in places.

“We have spent significant time during the off season acquiring and interpreting data covering the area and have a much better understanding of the potential of the belt,” said Roger Moss, Chief Executive Officer of Labrador Gold. “As such we expect to hit the ground running and quickly delineate the areas of highest potential within the belt. We look forward to an exciting summer in Labrador.”

Three soil sampling and three geological crews have been mobilized to the belt along with support staff for drone mapping, portable XRF and GIS. The three soil teams will sample the entire belt, with detailed grids in areas of higher potential. Two geological crews will focus on regional mapping and sampling of the belt while the third will be responsible for detailed mapping and sampling of the Thurber Dog area and following up areas of interest elsewhere in the belt. Due to the good correlation of gold and arsenic in the rocks, it is expected that XRF analyses of the soil samples for arsenic will be useful for guiding the geological follow up. In addition, interpretation of detailed drone imagery should provide information on outcrop location, structure and alteration.

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