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King's Bay Resources Corp
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King's Bay completes phase 1 exploration at Trump

2017-10-11 12:35 ET - News Release

Mr. Kevin Bottomley reports


King's Bay Resources Corp. has completed phase 1 of exploration on its 100-per-cent-owned Trump Island copper-cobalt project on the northern coast of Newfoundland.

King's Bay conducted a reconnaissance program, collecting 15 samples from outcrop on the island. Each of the 15 samples exhibited sulphidic wall rock and massive sulphide veins. The bulk of the visible sulphide consists of veinlets and pods of chalcopyrite and pyrite. The bedrock of Trump Island is very steeply dipping and displays both coarse and fine grained sulphide throughout. The samples have been sent to Bureau Veritas labs in Vancouver for geochemical analysis. Bureau Veritas has advised Kings Bay that the sample assays will be returned as soon as possible. Pending favourable results, phase 2 of exploration will take place in early spring.

Property overview

The North Trump Island property consists of eight mineral claims encompassing an area of two square kilometres and is located seven kilometres south of town of Twillingate and Labrador. The property is accessible by boat 1.5 kilometres east from the nearest boat launch at Tizzard's Harbour on NL Hwy 345.

The property's history dates back to the mid-1860s when a 20-foot (6.1 m) shaft was sunk on a mineralized zone of massive chalcopyrite. At the bottom of the shaft, it was reported that the mineralized zone expanded with depth but, due to limited technology, no further excavation could be safely continued. Follow-up grab sampling in 1999 by G. Lewis, an experienced local prospector, revealed mineralization assaying up to 3.80 per cent Cu, 0.30 per cent Co, 2.90 g/t Au and 10.9 g/t Ag near the old Clymo mine shaft. The property has not been drilled to date. The compilation of the recent 1998-99 fieldwork done by Lewis suggests that a more detailed exploration program is warranted.

Exploration history

In 1863 Nicholas Clymo, a miner of Cornwall, United Kingdom, visited the area and sunk a pit to a depth of 20 feet (6.1 m) which followed a three-foot-wide (0.9 m) mineralized zone that was said to increase in thickness with depth. He reported that a shipment of high-grade copper-cobalt ore was shipped to Swansea, England, as documented in the Newfoundland Provincial mineral rights database. This shipment was said to be worth 40 pounds per fathom (Clymo, 1863). In 1953, J. Kalliokoski of the Newfoundland Geologic Survey headed up a mapping and prospecting program for Newmont Mining Company in the area but no sample assays were reported. In the 1990s, G. Lewis conducted prospecting and limited rock and soil grab samples and filed a first-year assessment report in 1999 with the Newfoundland and Labrador Mineral Titles Branch.

About King's Bay Resources 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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