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King's Bay Gold Corp (2)
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Close 2017-04-20 C$ 0.155
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King's Bay surveying identifies anomalies at Lynx Lake

2017-04-21 07:07 ET - News Release

Mr. Kevin Bottomley reports


King's Bay Gold Corp., through preliminary assessment, has located several electromagnetic anomalies across the 382-line-kilometre area of interest, using Geotech's helicopter-borne versatile time domain electromagnetic (VTEM) geophysical survey over King's Bay's 100-per-cent-owned Lynx Lake copper-cobalt project in southeastern Labrador.

Geotech has provided King's Bay with preliminary geophysical maps outlining the VTEM data. From the information provided, King's Bay was able to identify several potential geophysical anomalies, one of which is located in the CA pit, that yielded historic assays of up to 1.39 per cent copper, 0.94 per cent cobalt, 0.21 per cent nickel and 6.5 grams per tonne silver. Geotech Ltd. has advised King's Bay that it expects to have the full report prepared by the end of April. Deliverables include magnetic, electromagnetic and chargeability components. Once the final data are received, they will allow King's Bay's technical team to continue to develop and interpret these anomalies.

The helicopter-borne versatile time domain electromagnetic system (VTEM) 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 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.

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, Nfld. 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. A three-phase power line that is under construction from Muskrat Falls and the Trans-Labrador Highway cross the northern part of the property.

About King's Bay Gold Corp.

King's Bay is focused on the exploration of cobalt and other high-tech metals in North America.

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.

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