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Labrador Gold Announces New Claims Staked over Florence Lake Greenstone Belt; strike length of prospective gold horizon covered by claims increases to 50 kilometres; New Lake Sediment Data Highlight Gold Potential of Ashuanipi Project
Vancouver, British Columbia--(Newsfile Corp. - May 24, 2018) - Labrador Gold Corp. (TSXV: LAB)...
About this update from Labrador Gold Corp
[{"type":"text","content":"Labrador Gold Announces New Claims Staked over Florence Lake Greenstone Belt; strike length of prospective gold horizon covered by claims increases to 50 kilometres; New Lake Sediment Data Highlight Gold Potential of Ashuanipi ProjectVancouver, British Columbia--(Newsfile Corp. - May 24, 2018) - Labrador Gold Corp. (TSXV: LAB) (\"Labrador Gold\" or the \"Company\") is pleased to announce that recently released lake sediment data highlights the prospectivity of the Company's Ashuanipi project in western Labrador and Quebec for gold. The Company also announces the staking of an additional 92 claims at the northern end of the Florence Lake greenstone belt, adjacent to the Thurber Dog area of known gold showings.HopedaleThe 92 claims staked at the Hopedale project cover the northern portion of the Florence Lake greenstone belt that is open to staking. The new claims are immediately north of the Thurber Dog area where Labrador Gold has reported grab samples up to 7.87 g/t gold and where known occurrences have assayed 3.97 g/t over 5 metres in channel samples (see news release dated March 1, 2018). The addition of the new claims increases the total strike length of the horizon prospective for gold mineralization to 50 kilometres all of which is controlled by Labrador Gold. The Florence Lake belt is significantly underexplored for gold compared to greenstone belts elsewhere in the world, despite such belts being prolific hosts of gold mineralization. During 2017, soil and lake sediment sampling demonstrated the potential for gold mineralization along the entire length of the Florence Lake greenstone belt, with anomalous gold in soil samples found over an approximately 40 kilometre strike length. AshuanipiRecently released lake sediment data indicate that the Company's Ashaunipi gold project straddling the border of Labrador and Quebec covers half of the most anomalous gold values (greater than the 98th percentile) from 21,678 samples. The anomalous area covered by the Ashuanipi claims is even more significant when considering that known gold showings to the north are associated with significantly lower gold in lake sediment anomalies (see figures at https://www.labradorgold.com/portfolio/ashuanipi-project/).Initial work at the Ashuanipi project during 2017 resulted in two district scale gold anomalies outlined by lake sediment and soil...