Vancouver BC. (FSCwire) - King’s Bay Resources Corporation (TSX.V: KBG), (FSE: KGB1), is pleased to announce that it has received the assays back from Phase 1 of the drilling on King’s Bay’s 100% owned Lynx Lake Copper-Cobalt Project in southeastern Labrador.

 

King’s Bay completed two diamond drill holes totaling 501.9 meters of drilling spaced 156.0 meters apart at the Lynx Lake Property.

 

The assay highlights are as follows:

 

Hole #	Interval Width (From-To)	Ni %	Co %	Ni + Co (%)
LL-17-01	over 115.2m (47.6 – 162.8)	0.058	0.013	0.071
LL-17-02	over 110.8m (57.1-167.9)	0.057	0.014	0.071

***Drill holes represent approximate true widths, true widths cannot be determined at this time.

***Standard deviation for Ni=105.0 ppm and Co =23.5 ppm.  

 

• The assay results obtained are above background levels for nickel and cobalt and extend to over 100 meters at depth with a lateral extent of at least 156 meters.  This indicates that there could be potential for a more localized zone of economic mineralization in the area.

 

• These drill results represent only a small fraction of the King’s Bay land package, which is approximately 242 km².

 

• Fire assays for Au, Pt, Pd are pending and expected to be received in late January 2018.

 

To view a map of the drill hole locations, visit https://www.kingsbayres.com/site/assets/files/1/18-01-16-KBG_Lynx_Lake_JEA.pdf.  

 

2018 Exploration Plan

 

King’s Bay is currently reviewing results and plan to assemble a team specializing in geostatistics and structural analysis to delineate additional drilling targets to identify potential zones of economic mineralization. More work will be conducted in the southern claims at Lynx Lake in the 2018 field season.

 

The drill hole placement and orientation were 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 results from our 2 preliminary holes at Lynx Lake are encouraging. The fact that we are encountering similar geochemical results in both holes that are over 150 meters apart is significant. Lynx Lake is road accessible from right off the Trans Labrador highway.  This will allow King’s Bay to continue to define the area at a relatively low cost.”

 

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.  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 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. The “grab samples” are selected samples and are not necessarily representative of the mineralization hosted on the property.

 

Quality Assurance/Quality Control and Analytical Method

 

The Company has implemented a quality assurance and quality control (QA/QC) program to ensure and validate the accuracy and precision of the assay results. QA/QC protocols include the insertion of blanks, duplicates, and certified reference materials (standards) every 10-20 samples. Drill core was sampled utilizing two techniques. For non-mineralized zones, 3m composite samples were collected. For mineralized zones and intervals of interest, 1-2m saw-cut samples were collected and sent for assay. Samples have been submitted for assay to Eastern Analytical in Springdale, Newfoundland & Labrador, for base and precious metal analysis using Inductively Coupled Plasma (ICP) and Ore Grade Assay (Multi-Acid Digestion).

 

About King’s Bay

 

King’s Bay is a mineral exploration company that is focused on the exploration of cobalt and other high‐tech metals in North America. The Company believes in this emerging fast‐growth sector and will continue to seek out and evaluate properties that show promise for development. The Company’s head office is in Vancouver, Canada.

 

NI 43‐101 Disclosure

Nicholas Rodway, 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.

On Behalf of the Board

 

Kevin Bottomley, President & Chief Executive Officer

O: 604 681 1568

E: Kevin@kingsbayres.com

 

For Investment Inquiries please contact:

Jared Rushton

O: 604 681 1568

E: jrushton@kingsbayres.com

 

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. Forward looking statements in this news release include that there could be potential for a more localized zone of economic mineralization in the area; that fire assays for Au, Pt, Pd are pending and expected to be received in late January 2018; and that we can define our resources at relatively low cost.  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 which might be delayed, included receiving results from 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.

 

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To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/kingsbay01162018.pdf

Source: King’s Bay Resources Corp. (TSX Venture:KBG)

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