King’s Bay Receives Preliminary Geophysical Maps From VTEM Plus Survey over Lynx Lake Copper-Cobalt Project, Southern Labrador
King’s Bay Gold Corporation (TSX.V: KBG), (FSE: KGB1), operating as “King’s Bay”, a mining exploration and development company based in Vancouver Canada is pleased to announce that through preliminary assessment, several electromagnetic anomalies have been located across the 382 line kilometer area of interest, using Geotech’s, helicopter-borne Versatile Time Domain Electromagnetic (VTEM) Geophysical Survey over King’s Bay’s 100% 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% Cu, 0.94% Co, 0.21% Ni and 6.5g/t Ag. 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 is received, it 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 m, with a low Base Frequency (30Hz) for penetration through conductive overburden cover, coupled with a 2-3 meters 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 kilometers, located 100 kilometers southeast of Happy Valley Goose Bay, Newfoundland and Labrador. Government regional low resolution residual magnetic surveys and preliminary handheld 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 3 phase powerline that is under construction from Muskrat Falls and the Trans-Labrador Highway cross the northern part of the Property.
About King’s Bay
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. King’s Bay Gold Corp is operating as “King’s Bay”.
NI 43‐101 Disclosure
Edward Lyons, 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 CEO, President
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