King’s Bay Gold Corporation Announces Name Change to King’s Bay Resources Corporation
King’s Bay Gold Corporation Announces Name Change to King’s Bay Resources Corporation
Momentum Public Relations
Press Release: August 11, 2017
Vancouver BC. (FSCwire) – King’s Bay Gold Corporation (the “Company”) (TSXV: KBG) (FSE: KBG1) is pleased to announce that, further to its news release dated August 1, 2017, the Company has changed its name to “King’s Bay Resources Corp.”.
The name change will go into effect on Monday, August 14, 2017, and the Company’s common shares will continue trading under the symbol “KBG” on the TSX Venture Exchange and “KBG1” on the Frankfurt Stock Exchange.
The CUSIP number assigned to the Company’s common shares under its new name will be 49579X105. No action will be required by existing shareholders with respect to the name change. Certificates representing common shares of the Company will not be affected by the name change and will not need to be exchanged.
The Company encourages any shareholder concerns in this regard to be directed to such person’s broker or agent.
ON BEHALF OF THE BOARD OF DIRECTORS
King’s Bay Gold Corporation
Kevin Bottomley
President and Chief Executive Officer
Tel: (604) 681-1568
Email: Kevin@kingsbayres.com
Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/KingsBay08112017.pdf
Source: King’s Bay Gold Corporation (TSX Venture:KBG)
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- Published in King's Bay, Mining, News Home
King’s Bay Announces Proposed Name Change
King’s Bay Announces Proposed Name Change
Momentum Public Relations
Press Release: August 1, 2017
Vancouver BC. (FSCwire) – King’s Bay Gold Corporation (the “Company”) (TSX-V: KBG) (FRANKFURT: KGB1), is pleased to announce that it intends to proceed with a name change to “King’s Bay Resources Corp.” (the “Name Change”).
Kevin Bottomley states “this name change to King’s Bay Resources Corp. better reflects our focus on a broader range of commodities rather than just precious metals.”
The Name Change is subject to TSX Venture Exchange approval and the Company will provide further updates regarding the Name Change, including the effective date.
In addition, the Company corrects its news release of July 14, 2017, announcing the issuance of cash finder’s fees payable to certain finder’s in connection with the closing of the private placements. The correct amount of finder’s fees issued was reduced to $4,800 in place of $5,300.
ON BEHALF OF THE BOARD OF DIRECTORS
King’s Bay Gold Corporation
“Kevin Bottomley”
Kevin Bottomley
President and Chief Executive Officer
Tel: (604) 681-1568
Email: Kevin@kingsbayres.com
For investment inquiries please contact;
Brad Hoeppner
Director
Tel: (604) 681-1568
Email: Brad@kingsbayres.com
Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/kingsbaygold08012017.pdf
Source: King’s Bay Gold Corporation (TSX Venture:KBG)
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King’s Bay Gold Corporation Announces Closing of $ 316,250 on First Tranche of Private Placements
King’s Bay Gold Corporation Announces Closing of $ 316,250 on First Tranche of Private Placements
King’s Bay Gold Corporation Announces Closing of $ 316,250 on First Tranche of Private Placements
Momentum Public Relations
Press Release: July 14, 2017
Vancouver BC. (FSCwire) – King’s Bay Gold Corporation (the “Company”) (TSXV: KBG) is pleased to announce that further to its news release dated June 26, 2017, it has completed a first tranche of a non-brokered, non-flow through private placement (the “NFT Private Placement”) of 2,500,000 units (each, a “Unit”) at a price of $0.10 per Unit for gross proceeds of $250,000 and a non-brokered, flow-through private placement (the “FT Private Placement”) of 530,000 flow-through shares (each, a “FT Share”) at a price of $0.125 per FT Share for gross proceeds of $66,250 (collectively, the “Private Placements”). The Company intends to close the second and final tranche of the Private Placements before the end of August, 2017.
The NFT Private Placement consisted of one common share of the Company and one non-transferable common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one common share of the Company at a price of $0.15 until July 14, 2019.
In connection with the Financing, the Company paid cash finder’s fees of $5,300 to certain finders.
The Company intends to use the proceeds of the Offering for exploration expenditures on their 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} owned Lynx Lake Copper-Cobalt property in Labrador, the Trump Island property in Newfoundland as well as working capital.
All securities issued in connection with the Financing are subject to a statutory hold period expiring four months and one day after the closing of the Financing.
An Insider of the Company subscribed for an aggregate of 1,000,000 Units under the Financing, which is a “related party transaction” within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The participation of the insider in the private placement was exempt from the valuation and minority shareholder approval requirements of MI 61-101 by virtue of the exemptions contained in Sections 5.5(a) and 5.7(a) of MI 61-101 in that the fair market value of the consideration of the shares to be issued to the insider did not exceed 25{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the Company’s market capitalization.
ON BEHALF OF THE BOARD OF DIRECTORS
King’s Bay Gold Corporation
“Kevin Bottomley”
Kevin Bottomley
President and Chief Executive Officer
Tel: (604) 681-1568
Email: Kevin@kingsbayres.com
For investment inquiries please contact
Brad Hoeppner
Director
Tel: (604) 681-1568
Email: Brad@kingsbayres.com
Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/KingsBay07142017.pdf
Source: King’s Bay Gold Corporation (TSX Venture:KBG)
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King’s Bay Applies for Exploration Permit for Phase 2 Exploration on the Lynx Lake Project in Labrador
King’s Bay Applies for Exploration Permit for Phase 2 Exploration on the Lynx Lake Project in Labrador
Momentum Public Relations
Press Release: July 6, 2017
Vancouver BC. (FSCwire) – King’s Bay Gold Corporation (TSX.V: KBG) (FSE: KGB1), operating as “King’s Bay”, a mineral exploration company based in Vancouver submits application to Newfoundland and Labrador Government, Department of Natural Resources for the commencement of phase 2 of the exploration program in south eastern Labrador.
Phase 2 of the Lynx Lake exploration program will involve ground truthing for the recently flown VTEM survey, which highlighted an area of low resistivity in the western pit of mineralization. The size of the anomaly is anticipated to be ranging in depth from 50-300meters and estimated to be approximately 400 meters in diameter. The “west pit” has been historically sampled yielding assays of up to 1.03{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Copper, 0.56{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cobalt, 0.23{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Vanadium, 0.10{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Nickel and 5.0g/t Silver.
The exploration program will consist of a localized ground electromagnetic survey over the anomaly at 20-meter line spacing. It will also include reconnaissance for bedrock exposure in the underexplored anomalous area that runs south of the west pit.
About Lynx Lake
The Lynx lake Project has returned historical grab samples assaying up to 1.39{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu, 0.94{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Co, 0.21{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Ni and 6.5g/t Ag. Government regional low resolution residual magnetic surveys and preliminary handheld electromagnetic unit 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 3 phase powerline and the Trans-Labrador Highway.
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.
On Behalf of the Board,
Kevin Bottomley
CEO, President
Forward-Looking Statements
This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include that the Company may not raise sufficient funds to carry out our plans, changing costs for mining and processing; increased capital costs; the timing and content of upcoming work programs; geological interpretations based on current data that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; the availability of labour, equipment and markets for the products produced; and despite the current expected viability of the project, that the minerals on our property cannot be economically mined, or that the required permits to build and operate the envisaged mine cannot be obtained. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/King’sBay07062017.pdf
Source: King’s Bay Gold Corporation (TSX Venture:KBG)
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Copyright © 2017 Filing Services Canada Inc.
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The Tesla Gigafactory: A Clean Energy Planet
The Tesla Gigafactory: A Clean Energy Planet
Tesla Motors is currently building a gigafactory. Some of you may be confused about what that is exactly, and why Tesla may need such a huge facility. When finished, the gigafactory will be the largest building in the world in terms of footprint, with 5.5 Million square feet. This will be second only to Boeing’s Everett factory (4.3 Million square feet). The endeavour is also very expensive, with an estimated cost of US$5 Billion. In line with Elon Musk’s goal to transition the world to renewable energy, the gigafactory will be entirely self-sufficient and powered by solar panels. The entire roof of the factory will be covered with solar cells, which are expected to produce 70MW of power. To give you an idea, the largest rooftop array in the world right now produces 11.5MW (in India).
A clean planet
Elon Musk recently stated in a Ted Talk that his ultimate goal is to make the world run entirely on renewable energy. To make this happen, he aims to produce 500,000 electric vehicles per year. This cannot be done economically if the parts have to be transported halfway across the world several times before the product is finished. Thus the need for a centralized facility, where the materials come in one end, and the finished vehicle comes out the other.
The gigafactory has already started producing the most innovative and crucial element of these cars: their lithium-ion batteries. And Tesla’s new 2170 battery cell is not only more efficient, but also cheaper than most on the market. The 2170 is around 10 per cent larger than its predecessor (the 18650 cell), but can store up to double the charge. It will also drop battery production cost by 25 per cent.
The essential element
In these super-powerful batteries is a crucial element: cobalt. For example, there is approximately 22.5 kilograms of it in Tesla’s Model S. The metal is currently mostly mined in the Democratic Republic of the Congo (DRC); where labour conditions are generally problematic and child labour is frequent. Consequently, Elon Musk has stated that all cobalt used by Tesla will only come from North America. Some have pointed out that it may be difficult to find enough ethical cobalt at feasible prices. But there is cobalt in North America, and King’s Bay (TSV:KBG, FSE:KGB1) is looking for it at the Lynx Lake Property in Labrador (Canada). The company is confident in the preliminary samples from the asset: “Grab samples from gossanous areas of the eastern rock pit have yielded assays up to 0.94{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Co”. For the preliminary Versatile Time Domain Electromagnetic (VTEM) results, have a look at King’s Bay’s latest news release.
About King’s Bay
King’s Bay is a Vancouver based company 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”.
Juliette Benard
Media Relations Director
- Published in Blog, Energy, King's Bay, Mining, Technology
Lithium supply to outweigh demand by 2018, cobalt to remain tight: CRU
Lithium supply to outweigh demand by 2018, cobalt to remain tight: CRU
Dublin (Platts)–26 Apr 2017 952 am EDT/1352 GMT
Lithium supply was expected to outweigh demand as early as next year, UK-based consultancy CRU’s Rebecca Gordon said Wednesday, while the cobalt market should remain tight well into the next decade on continued supply shortness.
While massive growth in battery demand was set to see consumption of both metals soar in coming years, new lithium supply was expected to match demand by 2018, reaching a peak of 25{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of total supply by 2022, Gordon told a Minor Metals Trade Association meeting in Dublin.
“The 2016 lithium cost curve shows why prices had to rise so sharply,” Gordon said, referring to lithium carbonate and hydroxide spot prices of over $10,000/mt in 2017, having doubled in less than 12 months on rising expectations of a demand boom from battery metals and tightness in supply.
“By 2020, the picture has changed, with brine expansions and new hard rock production keep prices in check and $6,500-7,000 the new cost level.”
By that time, China’s brine resources in Tibet and Qinghai were expected to come online, reducing unit costs, while spodumene resources in Sichuan and lepidolite resources in Jianxi were “committed and probable”, Gordon said.
Even modest demand forecasts see annual lithium output growing to 500,000 mt by 2020 from around 200,000 mt currently.
BENCHMARK BATTERY PRODUCTION
According to Benchmark Mineral Intelligence’s Andy Miller, also speaking in Dublin, lithium-ion batteries developed in “gigafactories” around the world, such as Tesla’s in the US, were expected to top 175 GWh by 2020, up from around 30 GWh now.
Tesla has recently said it will reach total production by 2018, in which time it will produce more lithium-ion batteries than were produced worldwide in 2013.
With electric vehicle production expected to be around 500,000 cars per year by the end of the decade, Tesla alone will require all of current lithium production.
But the story is bigger than Tesla. Over 60{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of battery production in 2020 was expected in China, compared with around 20{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} in the US, Miller said.
“The lithium-ion industry is a China story,” Miller said, with Europe far behind.
Unlike CRU, Miller did not foresee supply outpacing demand in coming years and although he expected new spodumene supply to fill any deficit in the short term, prices should remain high on tightness.
The story for cobalt was similar, he said. Also a component in cathodes for lithium-ion batteries, prices have surged over 60{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} in the past 12 months on expectations of increased demand and supply tightness.
But whereas lithium supply has increased markedly in anticipation of greater demand, cobalt supply remained restricted.
Although traded on the London Metal Exchange, it is hard to access supply. Production is largely a byproduct of other metals such as nickel, so it is hard to get financing for projects based on cobalt prices, despite the recent spike.
The metal also comes nearly exclusively from the Democratic Republic of Congo, which brings with it significant supply risk, given issues around mining practice, including child labor.
CRU expected a deficit in both mined and refined cobalt supply this year and next and although stocks should be able to meet much of the increase in demand in the short term, new supply will be needed by 2020.
Artisanal supply was expected to play an important role, especially as a swing producer when supply is tight.
CRU has identified a number of processors located in the DRC around Kolowezi, Likasi and Lubumbashi, that sell concentrates believed to be derived from local small scale and artisanal operations, Gordon said.
Gordon estimated these produced around 10,500 mt of artisanal cobalt in 2015 and around 8,500 mt in 2016. She forecast around 10,000 mt this year.
At the same time, recycling remained a concern for both lithium and cobalt, accounting for a tiny proportion of refined supply currently.
With a 7-8 year life, electric vehicle battery recycling volumes should start to pick up after 2021 and producers such as Apple and Nissan have talked recently about the importance of battery recycling.
Both speakers agreed that more work was needed in terms of regulation or industry best practice in battery recycling to secure supply.
–George King Cassell, george.king.cassell@spglobal.com
–Edited by Dan Lalor, daniel.lalor@spglobal.com
- Published in Blog, King's Bay, Mining, News Home
King’s Bay (KBG:tsxv) Commences Helicopter-borne VTEM Plus Survey Over Lynx Lake Copper-Cobalt Project
King’s Bay Commences Helicopter-borne VTEM Plus Survey Over Lynx Lake Copper-Cobalt Project, Southeastern Labrador
– Momentum Public Relation –
Press Release: February 28, 2017
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 Geotech Ltd., of Aurora, Ontario has commenced a 382 line kilometer helicopter-borne VTEM™ (Versatile Time Domain Electromagnetic) Geophysical Survey over King’s Bay’s 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} 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 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 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 3,000,000 line-kilometres worldwide with its proprietary and industry-leading VTEM™ system with confirmed results in many different deposit and host geologies.
Kevin Bottomley states “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 kilometers, located 100 kilometers southeast of Happy Valley Goose Bay, Newfoundland and Labrador. Historic grab sampling on the property has returned samples assaying up to 1.39{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu, 0.94{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Co, 0.21{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Ni and 6.5g/t Ag. 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. The Project is located directly adjacent to a 3 phase powerline and the Trans-Labrador Highway.
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.
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”.
- Published in King's Bay, Mining, News Home
As cobalt prices soar, King’s Bay expands prospects with Newfoundland acquisition
As cobalt prices soar, King’s Bay expands prospects with Newfoundland acquisition
by Greg Klein | February 16, 2017
A name and a commodity that are both objects of feverish attention seem to meet up in Newfoundland, where King’s Bay Gold TSXV:KBG has acquired the Trump Island copper-cobalt property. A 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} option announced February 16 expands the company’s cobalt prospects in Newfoundland, Labrador and Quebec.
Back in 1863 a Cornish miner sunk a six-metre shaft to follow a zone of massive chalcopyrite. He reportedly sent a shipment of high-grade copper-cobalt ore to Wales.
Grab samples collected nearby in 1999 brought historic, non-43-101 results up to 3.8{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} copper, 0.3{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} cobalt, 2.9 g/t gold and 10.9 g/t silver.
The initial King’s Bay agenda would call for additional sampling, along with mapping and a local-scale electromagnetic survey on the 200-hectare property. Successful results could bring a summer drill campaign.
Subject to approvals, King’s Bay gets Trump Island for 200,000 shares at a deemed value of $0.195 and a 2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} NSR.
The boat-accessible property sits seven kilometres south of Twillingate, a town immortalized in Newfoundland’s unofficial national anthem.
In Labrador, meanwhile, King’s Bay has airborne EM planned for its Lynx Lake copper-cobalt project, where grab samples have shown non-43-101 results up to 1.39{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} copper, 0.94{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} cobalt and 0.21{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} nickel, as well as chromium, molybdenum and vanadium values. Last month the company expanded Lynx Lake from about 2,000 hectares to approximately 24,000 hectares.
Earlier this month King’s Bay picked up three cobalt projects in Quebec. The company closed a $938,752 private placement in January.
The acquisitions come as cobalt prices continue their meteoric rise, hitting six-year highs up to $20 a pound, reported MetalBulletin.com. That represents an approximately 50{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} increase since September, according to Reuters. Stating that many traders are hoarding the metal, Reuters predicted a supply deficit this year “exacerbated by an insecure supply chain. Almost 60{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the world’s cobalt lies in politically risky Democratic Republic of Congo.”
- Published in Blog, King's Bay, Mining
King’s Bay Closes Property Purchase Agreement
King’s Bay Closes Property Purchase Agreement
– Momentum Public Relations –
Press Release: January 19, 2017
Vancouver, British Columbia (FSCwire) – 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 the TSX Venture Exchange has accepted for filing a property acquisition agreement (the “Agreement”) dated October 4, 2016 between King’s Bay Gold Corporation (the “Company”) and Crooks Lake Holding Limited, Cameron Martin and Jeffrey Martin (the later three collectively being, the “Vendors”) to acquire 66 mineral claims located in Happy Valley, Goose Bay, Newfoundland and Labrador (the “Property”).
The Lynx Lake Copper/Cobalt property consists of 959 mineral claims encompassing approximately 240 square kilometers, located 100 km southeast of Happy Valley-Goose Bay, Newfoundland and Labrador. The Lynx Lake Project has returned historical grab samples assaying up to 1.39{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu, 0.94{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Co, 0.21{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Ni and 6.5g/t Ag.
In order to acquire the Property, King’s Bay must pay an aggregate of $100,000 and issue 900,000 common shares in the Company over a period of 3 years. The Agreement is subject to a 1.5{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} net smelter royalty (“NSR”) of which the Company can purchase one-half of the NSR for $1,000,000 at any time. In accordance to the agreement King’s Bay has made an initial payment of $ 30,000 and has issued 200,000 shares to Crooks Lake Holding Limited and the Vendors.
The transaction is arm’s length.
Further information can be found in the Company’s news releases dated October 27, 2016 and January 17, 2017.
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.
On Behalf of the Board of Directors,
Kevin Bottomley
CEO, President
- Published in King's Bay, News Home
King’s Bay (KBG:tsxv) Substantially Increases Lynx Lake Cu-Co Land Package in Labrador
King’s Bay Substantially Increases Lynx Lake Cu-Co Land Package in Labrador
– Momentum Public Relations –
Press Release: January 17, 2017
King’s Bay Gold Corporation (TSX.V: KBG), (FSE: KGB1), operating as “King’s Bay”, a mining exploration and development company based in Vancouver, is pleased to announce that, as a result of preliminary data compilation, the company has decided to increase the Lynx Lake Copper/Cobalt property in Labrador area from its original size of 20 square kilometers to approximately 240 square kilometers.
King’s Bay believes that, in order to adequately cover the geological structures and geophysical signatures of interest, the property must be extended to the south west.
The upcoming airborne electromagnetic survey will be strategically placed within the new land area in order to explain some of the surface electromagnetic anomalies that have been discovered during surficial reconnaissance.
Kevin Bottomley states “The increase in our land holdings by over 10 times shows a strong commitment to better understanding what type of mineralized system we may be dealing with in a more regional sense”.
King’s Bay has filed a NI 43-101 technical report on the Lynx Lake Copper/Cobalt property on SEDAR. To download the full report, please click the link below.
The Lynx Lake Project has returned historical grab samples assaying up to 1.39{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu, 0.94{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Co, 0.21{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Ni and 6.5g/t Ag. 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. The Project is located directly adjacent to a 3 phase powerline and the Trans-Labrador Highway.
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
- Published in King's Bay, Mining, News Home