King's Bay Approved to Commence First Drill Holes at Lynx Lake Copper-Cobalt Property in Labrador
King's Bay Approved to Commence First Drill Holes at Lynx Lake Copper-Cobalt Property in Labrador
Vancouver, British Columbia (FSCwire) - King's Bay Resources Corp. (TSX.V: KBG), (FSE: KGB1), a mineral exploration company based in Vancouver Canada is pleased to announce that they have received drilling approval and have initiated a drilling program at King's Bay's 100% owned Lynx Lake Copper-Cobalt Project in southeastern Labrador.
King's Bay has begun drill access preparation and expects to have a drilling crew mobilized immediately, following trail completion.The drill program will consist of a minimum of 2 diamond drill holes totaling 500 meters.The drill hole placement and orientation has been determined based upon the amalgamation of the previously flown VTEM survey anomalies and the bedrock structure in the West Pit. The previously announced VTEM results identified an anomaly that is anticipated to be ranging in depth from 50-300 meters and estimated to be approximately 400 meters in diameter.
Kevin Bottomley states "The upcoming drilling program on Lynx Lake Copper-Cobalt property in Labrador is the pinnacle of the hard work from our entire geological and technical teams. We are committed to advancing the Lynx Lake property in Labrador as well as our Trump Island property in Newfoundland."
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. A Versatile Time Domain Electromagnetic Survey was flown by Geotech Ltd. identified an area in the "west pit" of high conductivity and low resistivity. 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. The Lynx lake Project has also returned historical grab samples assaying up to 1.39% Cu, .94% Co, .21% Ni and 6.5g/t Ag.The Project is located directly adjacent to a 3 phase powerline and the Trans- Labrador Highway.
About King's Bay
King's Bay is focused on the exploration of cobalt and other high?EUR?tech metals in North America. The Company believes in this emerging fast?EUR?growth sector and will continue to seek out and evaluate properties that show promise for development.
NI 43?EUR?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?EUR?101.
On Behalf of the Board
Kevin Bottomley President & Chief Executive Officer
O: 604 681 1568
For Investment Inquiries please contact:
Jared Rushton
O: 604 681 1568
Forward Looking Statements
This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include that the Company may not raise sufficient funds to carry out our plans, changing costs for mining and processing; increased capital costs; the timing and content of upcoming work programs; geological interpretations based on current data that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; the availability of labour, equipment and markets for the products produced; and despite the current expected viability of the project, that the minerals on our property cannot be economically mined, or that the required permits to build and operate the envisaged mine cannot be obtained. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/King'sBay10262017_0.pdf
Source: King's Bay Gold Corporation (TSX Venture:KBG)
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