King´s Bay Resources Corp.
King’s Bay Identifies VTEM Target at Lynx Lake Copper-Cobalt Project, Southeastern Labrador
EQS Group-News: King’s Bay Gold Corp. / Key word(s): Interim Report/Forecast King’s Bay Identifies VTEM Target at Lynx Lake Copper-Cobalt Project, Southeastern Labrador Vancouver, June 19th, 2017 – King’s Bay Gold Corporation (TSX.V: KBG), (FSE: KGB1), operating as “King’s Bay”, a mining exploration and development company based in Vancouver Canada, is pleased to announce that after an in depth analysis of Geotech Ltd.’s VTEM geophysical survey, a high priority electromagnetic target has been located at King’s Bay’s 100% owned Lynx Lake Copper-Cobalt Project in southeastern Labrador. After the data compilation and analysis of Geotech Ltd.’s. helicopter-borne Versatile Time Domain Electromagnetic System (VTEM), King’s Bay’s technical team has identified a shallow anomaly of high resistivity in what is known as the “west pit” which is directly adjacent to the Trans-Labrador Highway. The size of the anomaly is anticipated to be ranging in depth from 50-300 meters and estimated to be approximately 400 meters in diameter. The “west pit” has been historically sampled yielding assays of up to 1.03% Copper, 0.56% Cobalt, 0.23% Vanadium, 0.10% Nickel and 5.0g/t Silver. Exploration Program King’s Bay plans to assemble a technical field team immediately to investigate the VTEM anomaly. This summer’s program will be completed by executing a more local, higher resolution ground geophysical survey followed by potential stripping of overburden to the south of the pit so bedrock can be exposed. In addition to this, a reconnaissance team will begin to investigate the southeastern portion of the property to follow up on the anomalous historical soil samples. Detailed mapping and sampling in the two pits will aid in understanding of mineralization controls. Kevin Bottomley states “The positive identification of an anomaly in the west pit will allow King’s Bay to initiate a highly focused exploration program at Lynx Lake with a relatively low cost. This is exactly what we were hoping for when we initiated the VTEM program with Geotech”. About VTEM Lynx Lake Project The Lynx Lake Copper-Cobalt Property consists of 959 mineral claims encompassing a land area of approximately 240 square kilometers, located 100 kilometers southeast of Happy Valley Goose Bay, Newfoundland and Labrador. Historic grab sampling on the property has returned samples assaying up to 1.39% Cu, 0.94% Co, 0.21% Ni and 6.5g/t Ag. Government regional low resolution residual magnetic surveys and preliminary handheld electromagnetic surveys done by local prospectors have shown strong conductors beneath the overburden, and provide incentive to explore the area further for additional subsurface mineralization. The Project is located directly adjacent to a 3 phase powerline and the Trans-Labrador Highway. NI 43‐101 Disclosure Edward Lyons, P. Geo. supervised the preparation of the technical information in this news release and is a qualified person as defined by National Instrument 43‐101. About King’s Bay On Behalf of the Board For Investment Inquiries please contact: Forward Looking Statements
End of Corporate News |
Language: | English |
Company: | King’s Bay Gold Corp. |
Suite 1450, 789 West Pender Street | |
BC V6C 1H Vancouver | |
Canada | |
Phone: | +1 604 681 1568 |
E-mail: | info@KingsBayRes.com |
Internet: | www.KingsBayRes.com |
ISIN: | CA49579Q2099 |
Valor: | A2AN0E |
Listed: | Regulated Unofficial Market in Berlin; Open Market in Frankfurt; Canadian Venture Exchange, Toronto |
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