Cruz Cobalt clarifies cobalt grades as historical
Cruz Cobalt clarifies cobalt grades as historical
– Momentum Public Relations –
Press Release: February 23, 2017
Mr. James Nelson reports
CRUZ CHANGES NAME TO CRUZ COBALT CORP. AND CLARIFIES PREVIOUS DISCLOSURE
Cruz Cobalt Corp. has received TSX Venture Exchange approval for its name change to Cruz Cobalt Corp., as previously announced on Feb. 9, 2017. Effective at the opening on Feb. 23, 2017, the common shares of Cruz will commence trading on the TSX-V and the common shares of Cruz Capital Corp. will be delisted. There is no consolidation of capital. The name change was approved by the board of directors on Feb. 2, 2017. Changing the name accurately reflects Cruz’s focus on high-quality, ethically located cobalt assets.
At the request of the Investment Industry Regulatory Organization of Canada (IIROC), the company wishes to clarify certain disclosure with respect to previously reported samples.
President James Nelson stated: “Cruz currently has seven cobalt projects located in Canada and one in Idaho. Cruz’s four separate Ontario cobalt prospects are all located in the vicinity of the city of Cobalt. According to government mineral files, the 900-acre Coleman cobalt prospect returned cobalt grades of 13 per cent, the 900-acre Johnson cobalt prospect returned grades of 10.5 per cent cobalt and the 1,480-acre Bucke cobalt prospect returned cobalt grades of 13 per cent. The 5,500-acre Hector cobalt prospect covers multiple cobalt occurrences. Our War Eagle cobalt prospect in British Columbia covers a past-producing mine as well, and returned assays of 6.5 per cent cobalt.”
The historical data referred to above were taken directly from government mineral files. These data are historical in nature. The company is planning to commence operations on these projects to attempt to reconfirm the data stated herein. Assay results from the War Eagle prospect came from surface samples. The Johnson prospect assays were reported as grab samples. The Coleman prospect was reported as assays of veins. The Bucke prospect was reported as assays of unknown source. The three Ontario projects are all located in proximity to the town of Cobalt. This region has been historically one of the most active and productive silver-cobalt regions in Canada. However, until the company can carry out a geologic assessment on the properties in the coming weeks, it cannot be assured that the geology on the claims will prove economic.
The technical contents of this release were approved by Greg Thomson, PGeo, a qualified person as defined by National Instrument 43-101. All of the historical grades referred to in this release have not yet been verified. All of the data referenced in this release were taken directly from historical government mineral files and remain to be confirmed.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Cruz Cobalt, Mining, News Home
Cobalt gets ready to shine from Tesla, Apple, Samsung demand
Cobalt gets ready to shine from Tesla, Apple, Samsung demand
The lesser known mineral component of batteries, cobalt, is gearing up to have its year in the sun, with hedge funds stockpiling the commodity in preparation for the “Tesla boost”, ethical dilemmas tainting existing supply and miners exploring the developed world.
Prices for the mineral are starting to see a conspicuous recovery; low-grade cobalt was at a high of $US16.50 ($21.84) a pound on the spot market on Thursday, up more than 80 per cent from lows in December 2015, according to Bloomberg data.
“If last year was lithium’s time, for 2017 its battery peer cobalt may be the one receiving more attention,” a Macquarie analysts wrote in a recent note to clients.
“Prices have accelerated to levels last seen in 2011, and with demand from the core portable electronics sector recovering and supply growth relatively stagnant, this can be fundamentally justified.”
The hard, grey mineral has piqued interest in recent years for its potential widespread use in smartphones and the lithium-ion batteries used in Tesla vehicles. As an efficient electrode, cobalt can help store power for longer.
Analysts expect the likes of General Motors and Volkswagon, in addition to smartphone makers Apple and Samsung, to soon crank up demand as they experiment with their own electric cars.
According to commodity researcher CRU Group, this is set to boost demand for the nickel byproduct on average by 16 per cent annually through to 2022.
The supply issue
Cobalt is particularly contentious, however, given it is largely mined in the strife-riddled region of the Democratic Republic of the Congo. According to an Amnesty International report released last year, a fifth of the DRC’s cobalt is derived from small-scale operations that rely on child labour.
China is the main refiner of cobalt, buying up the commodity from both ethical and conflict zones, refining it and then on-selling it to the likes of Apple, Samsung and Tesla.
“The problem is it all gets mixed together, so you don’t really have an option to buy clean cobalt,” said Matthew Langsford, portfolio manager of the natural resources fund at Terra Capital.
At this year’s African Mining Indaba, which finished up last week in Cape Town, cobalt sprung up at numerous booths, with companies turning their exploration sights towards the commodity which is usually found as a byproduct of nickel.
However, investors seem to be leaning towards more transparent sources of cobalt.
“It’s a chilling fact for a lot of people that the smartphone in the pocket probably contains cobalt produced through child labour,” Edward Lauer, head of portfolio optimisation at Eurasian Resources Group, told a panel during the conference.
“It’s a complex supply chain and a challenging issue; thankfully, a lot of groups are bringing various stakeholders together.”
Opportunists
Investors could once get exposure to cobalt through nickel and copper shares, but there are more companies popping up exploring in developed countries.
ASX-listed Clean TeQ, backed by Regal Funds Management, has a scandium deposit in central New South Wales, with high-grade nickel and cobalt features. Billionaire Canadian investor Robert Friedman has taken an almost 20 per cent slab of the company’s stock and is a vocal proponent of the cobalt story.
Another high-profile investor, Paul Matysek, recently joined the board of Equator Resources and is in the process of renaming the company Cobalt One. The microcap stock hopes to exploit Mr Matysek’s track record of finding difficult deposits and is in the process of raising capital.
“These kinds of companies are looking to add to the cobalt supply from developed countries which will take some of the pressure out of the DRC,” says Mr Langford. “While the deposits there are so rich it’s unlikely cobalt will stop coming out of there, these other plays give investors more options.”
But there are also other methods of gaining cobalt exposure. In readiness for this spike in demand, some fund managers have begun to stock pile the commodity in preparation for the price hike.
“By buying physical stock, you actually own the metal that’s going into the batteries,” Anthony Milewski, a managing director at Pala Investments, told Bloomberg recently. “It’s a much more attractive option, and we’re not the only fund out there doing this.”
But getting one’s hands on the commodity is not easy. About 100,000 metric tons is produced annually, though 65 per cent of refined supply comes in a non-metal form, like the chemicals used in jet engines, drilling tools, pigments and smartphones.
As such, only around 35,000 tonnes comes in metal form, worth around $US550 million ($713 million).
Traders haven’t had it much easier, struggling with the lack of liquidity in markets like the London Metals Exchange.
Before November last year, the average volume was just 24 contracts a day; by comparison, copper trades around 140,000 contracts a day. But increased market attention has seen these contracts jump to an average of 162 a day, with some sessions reaching 600.
By Jessica Sier
- Published in Blog, Cruz Cobalt, Mining
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 Acquires Trump Island Copper-Cobalt Property
King’s Bay Acquires Trump Island Copper-Cobalt Property
Past Producing Prospect with samples of up to 3.80{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu, 0.30{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Co, 2.90 g/t Au, and 10.9 g/t Ag
– Momentum Public Relations –
Press Releases: February 16, 2016
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, subject to the approval of the TSX Venture Exchange, it has entered into an agreement dated February 6, 2017 with Gary Lewis, Nigel Lewis and Unity Resources Inc. (collectively the “Vendors”), to acquire a 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} title and interest in the North Trump Island copper-cobalt property in north-central Newfoundland.
Kevin Bottomley states, “The Trump Island acquisition fits in with our commitment to advancing high grade copper-cobalt properties in Newfoundland & Labrador. The fact that there has been historical mining on the island adds a new dimension to our property portfolio.”
Property Overview
The North Trump Island Property consists of 8 mineral claims encompassing an area of 2 square kilometers and is located 7 kilometers south of the town of Twillingate, Newfoundland and Labrador. The property is accessible by boat 1.5 kilometers east from the nearest boat launch at Tizzard’s Harbour on NL Hwy 345.
The property’s history dates back to the mid 1860’s 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{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu, 0.30{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} 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 field work 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 3 feet (0.9 m)wide 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.
Regional Geology
The Trump Island Group lies near the southeast boundary of the Notre Dame Subzone of the Dunnage Zone in the Central Mobile Belt, locally marked by the Chanceport Fault. The Central Mobile Belt represents the boundary of Laurentia and Gondwanaland at the start of the Appalachian-Caledonian Orogeny. The oldest unit in the Twillingate area is the Cambrian Sleepy Cove Formation mafic pillow flows and breccias mixed with minor silicic volcaniclastics. The Twillingate Granitoid, a high-soda trondjhemite characteristic of ophiolite assemblages intruded the mafic formation. Zircon age-dates place the granitoid as Late Cambrian (510 m.y.). Amphibolite dykes intrude the granitoid and mafic units with Lower Ordovician zircon ages. The ophiolite assemblages in the Notre Dame Subzone host a number of copper-rich deposits that have been mined in west-central Newfoundland.
Local Geology
The property claims cover the majority of North Trump Island and includes mainly Sleepy Cove mafic pillow basalts and breccias which have been retro-metamorphosed to chlorite-sericite-epidote schist foliated subparallel with the contact with the Twillingate granitoid. Mineralisation, as is currently known, occurs as chalcopyrite, pyrite, and pyrrhotite in quartz vein networks and high-sulphide lenses (Clymo Shaft).
Exploration Program
The initial exploration program will include additional sampling from the historic shaft area along with geological mapping and local scale electromagnetics. Based on successful results from these works, a drilling program would be planned for summer, 2017.
Purchase Consideration
In consideration for the purchase, the Company will issue to the Vendors an aggregate of 200,000 common shares at a deemed value of $0.195 per common share on the closing date. The Property is subject to a 2.0{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} net smelter return royalty payable by the Company to the Vendors.
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.”
On Behalf of the Board
Kevin Bottomley
CEO, President
For Investment Inquiries please contact:
Brad Hoeppner
Director
O: 604 681 1568
E: Brad@kingsbayres.com
- Published in King's Bay, News Home
King’s Bay (KBG:tsxv) Acquires 100 Interest in Three Additional Cobalt Properties in Quebec
King’s Bay Acquires 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Interest in Three Additional Cobalt Properties in Quebec
Historic samples yielding values up to 2.6{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Ni, 1.8{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu and 1.06{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Co
– Momentum Public Relations –
Press Release: February 6, 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 the 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} acquisition of three cobalt bearing properties in Quebec.
Kevin Bottomley states “The price for cobalt continues to rise and thus we feel having a greater portfolio of cobalt bearing projects provides the best value for our shareholders. Quebec has a strong history of successful mining ventures and King’s Bay is pleased to build on the exploration work that was done by Falconbridge Ltd. in early 2000.”
1. Ninuk Lake Cobalt Property
The Ninuk Lake Project is located approximately 175 kilometers northeast of Umiujag, Quebec and consists of 19 mineral claims encompassing 2164 acres. A deep-sea port is located 125 kilometers from the property.
In 2001 Falconbridge Ltd. completed an exploration program consisting of surface sampling, mapping and electromagnetics. Surface sampling of massive sulfide in outcrop yielded anomalous values of up to 2.6{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Ni, 1.8{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu, and 0.27{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Co. Mapping of the area exposed several lenticular ultramafic bodies containing pods massive sulfide. A small-scale electromagnetics program yielded several subsurface conductors in the area. Due to several other discoveries that year, the exploration work by Falconbridge Ltd. was not followed up. The compilation of these results encourages further work to be completed on the property.
Regional Geology– The area is Neoarchean in age and located within the superior province with ultramafic-felsic rocks including granodiorite, tonalite, paragneiss, amphibolite, peridotite, pyroxenite, and gabbronorite. Structurally the area of interest is bounded to the east and west by two regional fault systems
2. Broadback River Cobalt Property
The Broadback River Project is located only 24 kilometers northwest of the Nuinsco Discovery zone and consists of 9 mineral claims encompassing 1035 acres. The property can be easily accessed by the James Bay Road north from Matagami and then by logging roads to the property approximately 75 kilometers inland.
In 1985 a magnetic and electromagnetics survey was flown by the Quebec Ministry of Natural Resources that uncovered several large conductors. In 1999-2000 Falconbridge Ltd. took 152 samples and uncovered semi massive sulphide assaying 0.7{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Ni, 0.3 Cu, and 0.09{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Co but only drill tested the northwestern portion of the property. All southeastern conductors remain untested.
Regional Geology- The area is Archean in age and dominated by intrusive gabbro, which cuts felsic and mafic volcanics and iron formation of the Frotet-Evans Belt.
3. Roberge Cobalt Property
The Roberge Project is located 2.1 kilometers southeast of Chesterville, Quebec and consists of 3 mineral claims encompassing 443 acres. The property is easily assessable by a paved road, which runs through the property. Soil sampling on the property revealed several anomalous sediment samples assaying up to 1.06{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} cobalt. The work was done by the Quebec Government through a regional soil sampling program and can be found in open report DV 84-16.
Exploration Program
King’s Bay has commenced data compilation along with the initiation of an exploration plan consisting of sampling, local-scale mapping and channel sampling which will be completed this spring to reconfirm historical results.
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
Cobalt Crunch Time
Cobalt Crunch Time
Source – Rockstone Research
http://www.rockstone-research.com/images/PDF/KingsBay2en.pdf
Apparently, there is no shortage of lithium development projects worldwide, but there is a shortage of lithium processing capacities.
In case of the other battery-critical element, cobalt, there is a shortage of development projects especially in safe jurisdictions. Some 65{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of global cobalt production comes from the “Democratic Republic” of the Congo, an extremely political unstable country with deeply-rooted corruption, where approximately 20{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the nation’s cobalt output originates from unregulated, illegal artisanal miners, of which an estimated 40,000 miners are children according to UNICEF. James West recently explained:
“Auto makers need cobalt that is not mined artisanally because the supply chain gets audited. So the hot commodity is to find non-Congolese cobalt sulphate and nickel sulphate.”
Andrew Miller from Benchmark said:
“In many ways, the cobalt industry has the most fragile supply structure of all battery raw materials.”
In 2014, Tesla pledged to use only North American resources for its battery production at its Gigafactory and has also claimed to stop sourcing its cobalt from the Philippines due to environmental concerns, which will be a future issue for cobalt as demand rises.
The cobalt market has been gaining momentum both in price and global awareness about the precariously escalating supply-demand metrics. Cobalt is about to become the next “big thing”, a hype that has unique fundamental ingredients to outshine the lithium boom. MetalBulletin recently noted:
“Cobalt prices continued to surge this week as stocks remained in tight hands amid anticipations of further investor-fuelled price rises.”
No wonder that Tesla’s big kahuna, Elon Musk, has started to knock on cobalt doors in the Western World to offer offtake agreements. However, cobalt developers are in a much stronger negotiating position than mighty Musk has previously thought. This is somewhat in stark contrast to the lithium space and shows quite plainly that the cobalt boom will be different from lithium. It will be pivotal, for Tesla and all the others trying to jump on the bandwagon of global electrification. No cobalt, no Tesla?
The current battery of a Tesla Model S includes about 23 kg of cobalt, that´s up to 60{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} cobalt by weight. Already today, battery usage accounts for almost half of total cobalt demand. By 2020, cobalt use in battery applications alone is expected to be greater than the entire world market for refined cobalt in 2015. About 97{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of global cobalt supply comes as a by-product. According to CRU, 60{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of current cobalt production comes from copper mining, 38{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} from nickel operations and only 2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} from primary cobalt mines in Morocco and Uganda. Last year, Freeport McMoRan and Lundin sold its stakes in the Tenke Fungurume Mine in Congo, one of the world´s largest known cobalt deposits, to China Molybdenum.
James West recently spoke to Robert Friedland from Ivanhoe Mines Ltd., who had the following story to share:
“Elon came to me because we have a nickel sulphate and cobalt sulphate operation in Australia, not the Congo,” he said. “And Elon said ‘I’ve got the world’s biggest battery factory, so I want to buy your nickel and your cobalt at the current metal price for 10 years, because I’m the biggest buyer.’ “
So we told Elon Musk, you know, Elon, that’s interesting. We’ll think about it. And then two months later we went back to him and said “Elon, you’re totally screwed. The Germans are building a gigafactory twice as big as yours, the Chinese are building four of them bigger than yours, the Japanese are building two and the Koreans are building one. So unless you’re willing to pay to buy our cobalt and our nickel at whatever the price may be in the future, you’re not going to be able to build any batteries in your own gigafactory and your whole company is going out of business, and we’re going to make money shorting your stock.”
Surface sampling on the Lynx Lake Property returned high grades of cobalt and copper.
Looking at cobalt projects around the world and particularly in North America, Rockstone has found the Lynx Lake Copper-Cobalt Project from King’s Bay Gold Corp. being one of the best early-stage projects, with a real chance of making a significant discovery with a drill program. Generally, cobalt grades of 0.5{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} are considered world-class.
Although surface grades are not comparable to resources, reserves or production grades, King’s Bay’s grab samples of 0.94{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} cobalt, 1.39{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} copper, 0.21{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} nickel, 0.23{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} vanadium, 0.39{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} molybdenum, 0.0112{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} bismuth and 6.5 g/t silver are an indication of what the upcoming drill program may discover.
Above map shows the The Lynx Lake Property before it was expanded from 20 to 240 km2. The property benefits from proximity to the Trans-Labrador Highway (to the left of below picture) and a 3-phase power line running across the property (to the right of below pricture). The Trans-Labrador Highway goes directly to deep water ports.
With so much interest being garnered in the cobalt sector the company has been feverishly working to advance its Lynx Lake Copper-Cobalt Property in Labrador. Below is a list of milestones that King’s Bay has completed in the first 20 days of 2017.
On January 3, the company closed a financing with total proceeds of $938,753 CAD.
On January 11, the permit for an airborne electromagnetic (“EM”) geophysics survey was received.
On January 17, the company increased the Lynx Lake Copper-Cobalt Property land package from 20 to 240 km2 in order to adequately cover the geological structures and geophysical signatures of interest.
On January 19, the closing of the Lynx Lake Property acquisition was announced.
The next steps for King’s Bay will be the completion the airborne survey and evaluation of the data for high priority drilling targets in the spring. The company will be looking to expand its holdings in the cobalt sector through potential acquistions and or joint ventures.
Historical Timeline Lynx Lake Copper-Cobalt Property
This survey will be strategically placed within the newly expanded land area in order to explain some of the EM anomalies that have been discovered during surficial reconnaissance. 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.
Prior to 2008, the property was deemed too remote and as such remained virtually unexplored. In 2008, the Department of Transportation constructed the new Trans-Labrador Highway, which now runs through the property, making it easily accessible. During blasting for road aggregate on the property in the same year, disseminated and massive sulphide mineralization was discovered.
In 2009, local prospectors sampled and assayed the aggregate quarry on the eastern portion of the property and assayed up to 0.94{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} cobalt, 1.39{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} copper, 0.21{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} nickel and 6.5 g/t silver.
In 2014, regional low resolution magnetic surveys by the government and hand-held electromagnetic surveys by local prospectors revealed strong conductors beneath the overburden.
In 2015, the western portion of the property was grab sampled, yielding 0.57{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} cobalt, 1.03{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} copper, 0.1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} nickel, 0.36{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} chromium, 0.39{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} molybdenum, 0.23{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} vanadium and 5 g/t silver.
Discovery Potential
Although the property has never been drilled before, the sampling assays in both the eastern and western part of the property (before it was expanded) indicate great possibility for a large body of mineralization at shallow depths. Thanks to excellent road accessibility to deep sea water ports, a power line that runs directly adjacent to the property and the proximity to the town of Happy Valley-Goose Bay, King’s Bay believes that it’s a perfect time now to explore this highly prospective property amid rising energy metal prices, first and foremost the battery-critical element cobalt.
King´s Bay will be exhibiting at the upcoming Vancouver Resource Investment Conference(booth #301) this Sunday and Monday as well as the AME Round Up which runs from January 30 to February 2 (booth #424). The Government of Newfoundland & Labrador has provided King´s Bay with an opportunity to participate within their booth. CEO Kevin Bottomley and Director Brad Hoeppner will be travelling to St. John´s for the Northern Exposure Conference (booth #201) which runs from January 24 to 26.
Rockstone is looking forward to King’s Bay’s upcoming geophysics and subsequent drill program as a massive cobalt-rich deposit may get discovered.
Previous Coverage
Report #1: “Potential for a Massive Discovery of Cobalt, Copper and High-Tech Metals” (October 27, 2016)
Company Details
King‘s Bay Gold Corp.
Suite 1450 – 789 West Pender Street
Vancouver, B.C. V6C 1H2 Canada
Phone: +1 604 681 1568
Email: brad@kingsbayres.com
www.kingsbayres.com
Shares Issued & Outstanding: 40,806,423
Canadian Symbol (TSX.V): KBG
Current Price: $0.11 CAD (01/19/2017)
Market Capitalization: $5 million CAD
German Symbol / WKN (Frankfurt): KGB1 / A2AN0E
Current Price: €0.073 EUR (01/19/2017)
Market Capitalization: €3 million EUR
Disclaimer: Please read the full disclaimer within the full research report as a PDF (here) as fundamental risks and conflicts of interest exist.
- Published in Blog, King's Bay, Mining
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
2017 PREVIEW – LORD COPPER: Electric vehicle sector could be the driving force for metals commodities
Electric vehicle sector could be the driving force for metals commodities
Metals – or commodities generally – are no longer the pariah class, as funds once again dip their toes into the pool, Lord Copper asserts as he looks to the year ahead with cautious optimism.
2016 finished on a quietly positive note. Through the second part of last year, we saw metal prices stage a rally (of sorts: not, I concede, what we became used to during the boom period that now lives only in the memories and bank accounts of those who were there at the time, but a rally nonetheless), which has served to give a boost to the confidence of commodity investors.
Cyclicality has had a part to play here: nothing goes in one direction for ever and things that were out of fashion come back into focus as part of the natural order of the world. But that’s not all. As I suggested would be the case at the beginning of the year, selected mining equities have indeed pointed the way, with that sector of the FTSE powering the index to its new record high. (Incidentally, I noted a couple of weeks ago that Danny Fortson, in the Sunday Times, rated Rio Tinto a definite sell on the back of its (well-publicised) problems. I’m not an analyst, so my views are strictly those of a slightly educated outsider, but I’d still put that company among the best of the bunch, given where it sits on the cost curve in the majority of its products. I certainly wouldn’t dream of giving advice, but neither would I sell Rio from my portfolio.)
So what are we really looking at? The major influence – both up and down – in recent times has been China; this time, though, I’m not sure that it is as central as we have come to expect. Certainly, we all correctly and keenly watch that economy for signs good or bad, but at the moment the signals seem a bit fuzzy. The property market remains a problem, but on the other hand the government is projecting stimulus which should aid the commodity markets. But there is still overcapacity, and where does it go? All the aluminium can’t end up in the Mexican desert; and what does the Trump ascendancy presage for trade relations between the world’s two largest economies? Looked at coldly, unfortunately I can’t see a clear signal of a consistent China once again driving the commodity freight train.
My optimism comes from a slightly different direction, and one where we have to be very cautious, as this is more commodity-selective than China’s overall appetite. As often in the past, technological development holds a key position for the market. One of the hottest topics in scientific research right now is the work being done on the storage of electricity – in other words, better, smaller and cheaper batteries. This is being driven principally – but not exclusively – by the increase in demand for electric vehicles. The beneficiaries of this demand will be lithium (obviously), cobalt and nickel – as the cathode and anode – and also copper, not directly for use in batteries, but because an electric vehicle uses something like four times the copper of a conventional one. And, of course, one should also bear in mind the increased copper usage that will come through the continuing development of charging networks.
One of many charging points for Tesla electric vehicles
For an idea of how that will roll out, look at the growth in the network of petrol stations in the first part of the 20th century. (As an aside – for those who are interested – have a look on catch-up TV for the 2016 Royal Institution Christmas Lectures, where Saiful Islam, a chemistry professor from the University of Bath, is talking precisely about this issue of power generation and storage; it’s interesting stuff.)
So, I’m not a scientist, but I can see the way the world is going, and it’s towards an environment where the renewable generation of electricity and its storage will become of increasing importance. Lithium is a clear beneficiary; right now, you would bet on nickel and cobalt, but beware – battery technology may change to use other metals…. And copper, still the most effective means of power transmission, looks very secure.
I don’t expect a boom again, but a selective investment in metals could be the right way to go in 2017.
- Published in Blog, Deep South Resources Inc., King's Bay
King’s Bay Receives Permit Approval For Lynx Lake Cu, Co Project in Labrador
King’s Bay Receives Permit Approval For Lynx Lake Cu, Co Project in Labrador
– Momentum Public Relations –
Press Release: January 11, 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, announces approval from Newfoundland and Labrador Government, Department of Natural Resources for the commencement of an electromagnetic survey in south eastern Labrador.
The focus of the airborne survey is to locate high priority drill targets for its 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} owned Lynx Lake Copper, Cobalt project located 100km south east of Happy Valley‐Goose Bay, 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. 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.
Company President Kevin Bottomley states “The granting of our permit is an important first step in the exploration process for King’s Bay. Our goal is to get working on all aspects of our Lynx Lake Copper / Cobalt property as soon as possible. The successful completion of our financing on January 3rd was a key component of that goal”.
King’s Bay will begin to prepare proposed flight line orientation and spacing for the upcoming drilling program and has begun to evaluate quotes from potential vendors.
About Cobalt
At this time, the price of cobalt is rising due to a combination of factors. Some of these factors are related to unsettled conditions in areas such as the Democratic Republic of Congo, where the majority of the world’s cobalt is recovered. Other factors include an increased demand for rechargeable batteries. A single rechargeable ion car battery contains as much as 20 kilograms of cobalt. In addition to batteries, cobalt is used in alloys for aircraft engine parts and for alloys with corrosion/wear resistant uses. Cobalt also has many medical uses; cobalt isotopes are used to produce stable dichromatic beams in “cobalt therapy”, which is used to treat cancer. Molybdenum is also an important element of interest and can be used in fertilizer as well as battery electrodes.
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
Ed Lyons 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
King’s Bay to Acquire 100 Interest in Lynx Lake Copper-Cobalt Property in Labrador
Surface samples show significant concentration of cobalt, an important element in rechargeable batteries
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, has signed a definitive agreement to acquire 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} interest in a cobalt property located in southern Labrador.
The Property
The project consists of 66 mineral claims encompassing approximately 20 square kilometers, located 100km southeast of Happy Valley-Goose Bay, Newfoundland and Labrador. Prior to 2008, the area was deemed remote and remained virtually unexplored even after interest in Labrador grew due to the discovery of Voisey’s Bay Ni-Cu-Co mine. Thanks to the construction of the new Trans-Labrador Highway that runs through the property, the area is now easily accessible.
In 2008, areas of disseminated and massive sulphide were discovered in bedrock after blasting by the Department of Transportation for road aggregate. In 2009, sampling and assaying of grab samples from the aggregate quarry by local prospectors produced assays of up to 1.39{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} copper, 0.94{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} cobalt, 0.21{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} nickel and 6.5 g/t silver. Government regional low resolution residual magnetic surveys and preliminary EM-16 (hand held geophysical unit) surveys done by local prospectors in 2014 show strong conductors beneath the overburden and provide incentive to explore the area further for more surface and sub surface mineralization.
The initial samples taken in the eastern portion of the property were followed in 2015 by surface grab sampling in the western side of the property. These new results were equally as promising yielding 1.03{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Copper, 0.566{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cobalt, 0.1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Nickel, 5.0 g/t silver, 0.36{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Chromium, 0.39{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Molybdenum and 0.23{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Vanadium. These values should not be relied upon as a representation of the whole area. The property has never been drilled and the amalgamation of these results suggests the possibility for a larger body of mineralization in the area.
In the addition to excellent road accessibility to deep sea water ports and the proximity to the town of Happy Valley-Goose Bay, the property offers the ability to easily obtain electricity from a 3 phase power line that runs directly adjacent to the property.
With energy metal prices on the rise, King’s Bay feels that it is a great time to explore this property.
Geology
The property is situated in the Grenville Province and is Proterozoic in age. It is separated by a north easterly trending fault. The western portion of the property is underlain by granite, granodiorite and gneiss that varies texturally from weakly foliated to well banded. The eastern portion of the property is underlain by granite, amphibolite with massive gabbro, norite and troctolite units. Detailed bedrock mapping will help better define the local geology of the area.
Exploration
The property is workable year round and King’s Bay has already deployed a team for a preliminary surface sampling program on the existing pits, as well as a reconnaissance program and an EM-16 survey on the surrounding land package to possibly locate more undiscovered exposure and conductors. During the winter, the preliminary program will be followed by data compilation and initiation of an airborne geophysical survey to locate high priority drill targets. Extensive exploration is required to confirm the above preliminary results, as they do not conform to the NI 43-101 rules and regulations.
About Cobalt
At this time, the price of cobalt is rising due to a combination of factors. Some of these factors are related to unsettled conditions in areas such as the Democratic Republic of Congo, where the majority of the world’s cobalt is recovered. Other factors include an increased demand for rechargeable batteries. A single rechargeable ion car battery contains as much as 20 kilograms of cobalt. In addition to batteries, cobalt is used in alloys for aircraft engine parts and for alloys with corrosion/wear resistant uses. Cobalt also has many medical uses; cobalt isotopes are used to produce stable dichromatic beams in “cobalt therapy”, which is used to treat cancer. Molybdenum is also an important element of interest and can be used in fertilizer as well as battery electrodes.
Consideration
The purchase price of the property is in cash and stock subject to TSX-Venture Exchange approval. The cash price to the vendor is $100,000, in payments of $10,000 upon the acceptance of the agreement, and $30,000 on each of the subsequent three anniversaries of the agreement. As well, King’s Bay will provide the vendor with 900,000 common shares of its stock, 200,000 shares upon exchange approval, followed by 300,000 on the first year and 400,000 more on the second year of the agreement.
NI 43-101 Disclosure
Garth Graves is a qualified person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release. All geochemical assays were confirmed by original assays certificates from Eastern Analytical and Actlabs.
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
For more information, please contact:
Brad Hoeppner
Director
O: 604 681 1568
E: Brad@kingsbayres.com
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. For example, forward looking statements in the news release include the assumption that the transaction will be approved and that the Company will be able to raise funds to pay the property payments and carry-out exploration programs. 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/kingsbay10272016.pdf
Source: Kings Bay Gold Corporation (TSX Venture:KBG)
- Published in King's Bay, Mining, News Home