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ZURICH, SWITZERLAND / ACCESSWIRE / October 27, 2016 / After a complete restructuring of the company, King's Bay Gold Corp. (TSX.V: KBG; Frankfurt: KGB1; operating as King's Bay) today announced the acquisition of the Lynx Lake Property in Labrador, Canada. 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% cobalt, 1.39% copper, 0.21% 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% cobalt, 1.03% copper, 0.1% nickel, 0.36% chromium, 0.39% molybdenum, 0.23% vanadium and 5 g/t silver.
Although the property has never been drilled before, the sampling assays in both the eastern and western part of the property 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.
The full report can be accessed with the following links:
English (PDF):
http://rockstone-research.com/images/PDF/KingsBay1en.pdf
English (web version):
http://rockstone-research.com/index.php/en/research-reports/1961-Potential-for-a-Massive-Discovery-of-Cobalt,-Copper-and-High-Tech-Metals
German (PDF):
http://rockstone-research.com/images/PDF/KingsBay1de.pdf
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Disclaimer: Please read the full disclaimer within the full research report as a PDF as fundamental risks and conflicts of interest exist.
SOURCE: Rockstone Research
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