Labrador Gold Corp. announced the results of the 2023 exploration program at its 100% owned Hopedale Project in Labrador. The district scale Hopedale property covers a 43km strike length of the Florence Lake greenstone belt which has characteristics typical of greenstone belts around the world but has been underexplored by comparison.

Highlights Fire Ant gold occurrence: high-grade gold up to 106g/t with 20.4g/t Ag in rock grab samples, mineralization traced over approximately 200 metres strike length Rusty Ridge and Last Resort nickel occurrences: anomalous Ni area at Rusty Ridge extended to 550m, rock samples up to 0.28% Ni and soil samples up to 0.23% Ni, Identified a new anomalous nickel area (Last Resort) over a strike length of 1.6km coincident with a significant magnetic high, Thurber Boundary copper occurrence anomalous zinc zone identified over 400m at Jasmine with values up to 0.97% Zn in rock and 0.22% in soil, Jasmine also shows high copper and gold values indicating potential for volcanogenic style mineralization. Thurber Boundary copper occurrence: highest copper in soil value (3,493 ppm) found on the property to date identified in a 400m anomalous trend. Significant gold and silver in rock grab samples was found in the Rusty Ridge area with a high of 106g/t Au and 20.4 g/t Ag, 3.7g/t Au and 4.9g/t Ag and 2.9g/t Au and 4.7g/t Ag.

This newly discovered mineralization named the Fire Ant occurrence, is hosted in gossanous felsic volcanic rocks close to the contact with ultramafic volcanic rocks and has been traced over a strike length of approximately 200 metres. Work during 2022 found significant nickel anomalies in soil and rock at an area named Rusty Ridge. The anomalies occur in ultramafic rocks indicating potential for magmatic nickel style mineralization.

One of the goals of the 2023 exploration program was to follow up and extend these anomalies. A total of 14 grab samples of rock assayed over 0.1% Ni and included values up to 0.28% Ni while nickel values in soil up to 2,271ppm (0.23%) show a significant northeast-southwest trend extending the anomalous area over 550m. Approximately 1.2km south of Rusty Ridge, anomalous nickel in soil samples was outlined over a 1.6km strike length and is coincident with a significant magnetic high.

Six of the samples assayed over 1,000ppm (0.1%) Ni with a high of 2,271ppm (0.23%) Ni. Limited rock sampling showed assays of 0.28%, 0.17% and 0.16% Ni in grab samples in this area named Last Resort. The highest copper value in soil (3,493ppm) on the property to date was recorded at Thurber Boundary, where it forms a northeast-southwest trend over approximately 500 metres.

The location of the soil anomaly is in a similar stratigraphic location, close to the contact of mafic and ultramafic volcanic rocks, as the high grade (3.31% Cu over 0.76m and 1.55% Cu over 1m in channel samples) Kaapak copper occurrence approximately 3 kilometres to the south. In addition to the copper, nickel and gold found during the exploration program, anomalous zinc was found in soil samples (up to 0.22%) and rock (up to 0.97%) in the Jasmine area. The anomalous zone extends over approximately 400 metres and is coincident with a contact highlighted by a change from magnetic high to magnetic low.

The Jasmine area is also known to have high copper and gold values indicating potential for volcanogenic massive sulphide deposits. Rock samples comprise grab samples, which are selective samples and not necessarily representative of mineralization found on the property. Samples were securely stored prior to shipping to analytical labs for assay.

Rock samples were assayed at Eastern Analytical Laboratory in Springdale, an ISO/IEC17025 accredited laboratory for gold by standard 30g fire assay with atomic absorption finish as well as by ICP-OES for an additional 34 elements. Additional samples were sent to SGS Canada for whole rock assays by borate fusion XRF and ICP-MS/AES. Soil samples were submitted to SGS for gold by standard 30g fire assay with atomic absorption finish as well as ICP-MS for an additional 48 elements.

The company submits blanks and certified reference standards amounting to 5% of each sample batch.