High-Grade Gold And Copper At The Hopedale Project

TORONTO - Labrador Gold Corp. reported on of prospecting and channel sampling at the Florence Lake Greenstone Belt on its Hopedale Project in Labrador. Highlights of the exploration include high-grade copper and gold in rock from both grab and channel samples from the northernmost (Thurber Dog) license. Previous work by LabGold and others in this area has outlined significant gold in rock and soil over a 3km strike length, including four discrete mineralized occurrences: Thurber North up to 3.8 g/t Au; TD500 up to 21.59 g/t Au; Thurber Dog up to 11.4 g/t Au; Thurber South up to 4.1 g/t Au.

Follow up sampling at the TD500 gold occurrence returned gold values from grab samples ranging from 0.46 g/t to 21.59 g/t Au. The showing was channel sampled along eight channels over a strike length of approximately 60 meters. Gold varies from below detection limit (<5ppb) to 14.02 g/t with 48 samples assaying greater than 100ppb (0.1g/t) Au that includes 19 samples greater than 1 g/t Au. Highlights of the channel samples include 2.91 g/t Au over 5.17m including 14.02 g/t over 0.61m, 2.35 g/t Au over 6.88m and 4.23 g/t over 5.04m.

Shear hosted gold mineralization at TD500 has now been uncovered over a 35m strike length and occurs in quartz veins and disseminated in the host rocks close to the contact between mafic volcanic and metasedimentary rocks. Pyrite and arsenopyrite are commonly associated with the gold mineralization.

Grab samples from the copper occurrence (Kaapak) ranged from 131 ppm to 10.2% Cu, with seven of the nine samples assaying over 1% Cu. Elevated silver in these samples ranged from 0.2 to 9.8 g/t Ag. The showing was channel sampled along eight channels over a strike length of approximately 50 meters. Results showed copper values ranging from 18ppm to 3.31% and silver values from 0.1 to 2 g/t. Highlights include 3.31% Cu over 0.76m, 2.4% Cu over 0.6m and 1.55% Cu over 1m. Copper is present as disseminated to locally semi-massive chalcopyrite and lesser malachite associated with quartz veins close to the contact with mafic and ultramafic volcanic rocks.

“While our focus continues to be our ongoing drilling at Kingsway, our exploration programs at Hopedale continue to turn up excellent results. The three kilometer “Thurber Dog trend” of significant gold mineralization that includes the four discrete gold occurrences is a compelling target for future work with the potential for further discovery,” said Roger Moss, President and CEO. “Our initial work at the Kaapak copper occurrence has demonstrated high grade copper that needs follow up to determine its true extent. In addition, based on LabGold’s initial work in the southern portion of the property, there appears to be potential for nickel mineralization associated with ultramafic rocks in the region.”