• Four samples located 100 to 300m along strike of visible gold samples assayed greater than 1,000 ppb Au
  • Highest gold value was 9,946ppb
  • 19 samples assayed greater than 100ppb Au
  • Gold in soil anomaly extends over 500m and remains open to the southwest

TORONTO, Nov. 16, 2020 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce further results of the recently completed soil sampling survey at its 77km Kingsway Project near Gander, Newfoundland. The Kingsway project is located within the highly prospective Gander Gold Belt. Soil sampling has now been completed with 7,740 soil samples collected over 16 grids. Results for 432 samples in the area of the quartz vein containing visible gold (see news release dated November 9, 2020) on the Kingsway South license are reported here.

Gold values in the soils range from below detection (<0.5ppb) to 9,946ppb (9.9g/t Au) with three other samples assaying greater than 1,000ppb (1g/t Au) and 19 samples assaying greater than 100ppb (0.1g/t Au). The four highest gold values occur between 100 and 300 metres to the southwest of the visible gold locations and suggest the potential for additional gold mineralization in this area.

The overall anomaly extends over 500 metres to the southwest of the visible gold sample locations and extends the strike of potential quartz vein related gold mineralization in this area to 600 metres. The anomaly remains open and further soil sampling is being undertaken to follow this trend to the southwest.

To the northeast, an interpreted splay off the Appleton fault zone appears to displace the gold in soil anomaly approximately 350 metres to the northwest. The anomaly continues for an additional 950 metres to the northeast along another interpreted structure trending subparallel to the Appleton fault zone.

“The gold in soil anomalies clearly define the trend of the mineralized vein southwest of the visible gold samples demonstrating the effectiveness of such sampling,” said Roger Moss, President and CEO of LabGold. “We will continue tracking this anomaly to the southwest with more soil sampling and prospect along the trend in both directions to identify further sites of gold mineralization.”

Shawn Ryan, Technical Advisor added “Finally we see the results of a quality deep soil sampling program over the Kingsway Project, something I expected from my 2015 soil research program. While soil sampling is not new, taking great care in gathering a sample was not the norm. Now, with low assay detection limits, taking thousands of quality samples one can start to see mineralized trends and patterns even as low as 10- 20 ppb Au. So the results described here are exceptional. LabGold’s aggressive soil sampling program covering 16 Grids gives the company a good probability of finding new mineralized structures. I look forward to seeing the final results of the completed surveys.”

CLICK HERE to read the full news release.

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