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King's Bay Resources Corp
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Close 2017-11-28 C$ 0.12
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King's Bay completes phase 1 of drilling at Lynx Lake

2017-11-28 09:32 ET - News Release

Mr. Kevin Bottomley reports


King's Bay Resources Corp. has completed phase 1 of the drilling program announced Oct. 26, 2017, and has sampled four broad mineralized zones totalling 290 metres on King's Bay's 100-per-cent-owned Lynx Lake copper-cobalt project in southeastern Labrador.

King's Bay completed two diamond drill holes totalling 501.9 metres at the Lynx Lake property. Both drill holes intersected intervals of net textured gabbro for a total of 164.3 metres and a mineralized biotite gabbro for a total of 14.9 metres.

LL-17-01 entered a highly magnetic net textured gabbro from 45.6 to 162.8 metres in length containing two main phases of mineralization.

LL-17-02 intersected a weakly magnetic amphibolitic unit from 10 to 57.1 metres with lenses of net textured mineralization throughout.

LL-17-02 intersected a highly magnetic gabbro from 57.1 to 167.9 metres with chloritized lenses of disseminated mineralization throughout.

True widths of mineralized zones are unknown at this time.

Samples of NQ core have been prepared and shipped to Eastern Analytical Labs in Newfoundland. Assay results are expected by early January.

The drill hole placement and orientation were determined based upon the amalgamation of the previously flown versatile time domain electromagnetic 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 to 300 metres and estimated to be approximately 400 metres in diameter.

Kevin Bottomley states: "Completing phase 1 drilling at Lynx Lake is a major milestone for the company. We are encouraged by the lengths of the mineralized zones and are eagerly awaiting the assay results."

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. The west pit has been historically sampled yielding assays of up to 1.03 per cent copper, 0.56 per cent cobalt, 0.23 per cent vanadium, 0.1 per cent nickel and five grams per tonne silver. The Lynx Lake project has returned historical grab samples assaying up to 1.39 per cent Cu, 0.94 per cent Co, 0.21 per cent Ni and 6.5 g/t Ag. The project is located directly adjacent to a three 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 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 to 20 samples. Drill core was sampled utilizing two techniques. For non-mineralized zones, three-metre composite samples were collected. For mineralized zones and intervals of interest, one- to two-metre saw-cut samples were collected and sent for assay. Samples have been submitted for assay to Eastern Analytical in Springdale, Nfld., for base and precious metal analysis using inductively coupled plasma and ore-grade assay.

About King's Bay Corp.

King's Bay Resources 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.

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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