King's Bay Completes Drilling at Lynx Lake Copper- Cobalt Property in Labrador
Vancouver, November 27th, 2017 - King's Bay Resources Corporation (TSX.V: KBG), (FSE: KGB1), is pleased to announce that it has completed Phase 1 of the drilling program announced October 26, 2017, and has sampled four broad mineralized zones totaling 290 meters on King's Bay's 100% owned Lynx Lake Copper-Cobalt Project in southeastern Labrador.
King's Bay completed two diamond drill holes totaling 501.9 meters at the Lynx Lake Property. Both drill holes intersected intervals of net textured gabbro for a total of 164.3 meters and a mineralized biotite gabbro for a total of 14.9 meters.
Additional highlights of drill program can also be found on our website at https://kingsbayres.com/photo-gallery/lynx-lake-drill-cores/:
- LL-17-01 entered a highly magnetic net textured gabbro from 45.6 to 162.8 meters in length containing 2 main phases of mineralization. (See picture in attached PDF)
- LL-17-01 entered a biotite gabbro from 236.0 to 250.9 meters consisting of disseminated mineralization throughout. (See picture in attached PDF)
- LL-17-02 intersected a weakly magnetic amphibolitic unit from 10.0 to 57.1 meters with lenses of net textured mineralization throughout. (See picture in attached PDF)
- LL-17-02 intersected a highly magnetic gabbro from 57.1 to 167.9 meters with chloritized lenses of disseminated mineralization throughout. (See picture in attached PDF)
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 VTEM 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 50-300 meters and estimated to be approximately 400 meters 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 kilometers, located 100 kilometers southeast of Happy Valley Goose Bay, Newfoundland and Labrador. The "west pit" has been historically sampled yielding assays of up to 1.03% Copper, 0.56% Cobalt, 0.23% Vanadium, 0.10% Nickel and 5.0g/t Silver. The Lynx lake Project has returned historical grab samples assaying up to 1.39% Cu, .94% Co, .21% Ni and 6.5g/t Ag. The Project is located directly adjacent to a 3 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 (QA/QC) 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 10-20 samples. Drill core was sampled utilizing two techniques. For non-mineralized zones, 3m composite samples were collected. For mineralized zones and intervals of interest, 1-2m saw-cut samples were collected and sent for assay. Samples have been submitted for assay to Eastern Analytical in Springdale, Newfoundland & Labrador, for base and precious metal analysis using Inductively Coupled Plasma (ICP) and Ore Grade Assay (Multi-Acid Digestion).
About King's Bay
King's Bay is a mineral exploration company that 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. The company's head office is in Vancouver, Canada.
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 President & Chief Executive Officer
O: 604 681 1568
E: Kevin@kingsbayres.com
For Investment Inquiries please contact:
Jared Rushton
O: 604 681 1568
E: jrushton@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. 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.
