10:33:33 EST Fri 03 Dec 2021
Enter Symbol
or Name

King's Bay Gold Corp (2)
Symbol KBG
Shares Issued 41,006,423
Close 2017-02-27 C$ 0.16
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King's Bay starts VTEM survey at Lynx Lake

2017-02-28 09:02 ET - News Release

Mr. Kevin Bottomley reports


Geotech Ltd. of Aurora, Ont., has commenced a 382-line-kilometre helicopter-borne VTEM (versatile time domain electromagnetic) geophysical survey over King's Bay Gold Corp.'s 100-per-cent-owned Lynx Lake copper-cobalt project in southeastern Labrador.

Geotech Ltd. has advised King's Bay that it expects to complete this survey by mid-April. The VTEM system has a penetration depth of over 800 metres, with a low base frequency (30 hertz) for penetration through conductive overburden cover, coupled with a two-to-three-metre high spatial resolution. This system is advertised to be able to delineate potential drill hole targets from the airborne results. In addition, it also has excellent resistivity discrimination to enable the detection of weak anomalies.

Geotech has flown more than three million line kilometres worldwide with its proprietary and industry-leading VTEM system with confirmed results in many different deposit and host geologies.

Kevin Bottomley stated: "This a very exciting time for the company. The commencement of our VTEM survey over Lynx Lake property is an extremely important step towards identifying high-priority drill targets."

Lynx Lake project

The Lynx Lake copper-cobalt property consists of 959 mineral claims encompassing a land area of approximately 240 square kilometres, located 100 kilometres southeast of Happy Valley Goose Bay. Historic grab sampling on the property has returned samples assaying up to 1.39 per cent copper, 0.94 per cent cobalt, 0.21 per cent nickel and 6.5 grams per tonne silver. Government regional low-resolution residual magnetic surveys and preliminary hand-held 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 three-phase powerline and the Trans-Labrador Highway.

National Instrument 43-101 disclosure

Edward Lyons, PGeo, 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 Gold Corp.

King's Bay 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.

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