ZURICH, SWITZERLAND / ACCESSWIRE / April 21, 2017 / Today, King's Bay Gold Corp. (TSXV: KBG) (OTC PINK: KBGCF) announced preliminary results of the recently completed VTEM+ geophysical survey over its 100% owned Lynx Lake Property in southeastern Labrador, Canada. From the information provided by Geotech Ltd., King's Bay identified several potential anomalies. As Geotech flew 382 line km (or 50 km2) over approximately 21% of the property (total size 240 km2), there is plenty room for more discoveries.
One of those identified anomalies is located in the eastern quarry pit (excavated by the Department of Transportation during construction of the near-by highway), where historic assays of up to 0.94% cobalt, 1.39% copper, 0.21% nickel and 6.5 g/t silver showed the great exploration potential.
The full report from Geotech is expected by the end of April. Once received, King's Bay will analyze and interpret the data, and is expected to prepare for a maiden drill program to potentially discover a cobalt-rich deposit beneath shallow overburden. 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.
In an increasing fashion, cobalt is grabbing headlines across the globe. The race is on to find non-Congolese cobalt supply.
The full report can be accessed with the following links:
English (PDF): http://rockstone-research.com/images/PDF/KingsBay5en.pdf
English (web version): http://rockstone-research.com/index.php/en/research-reports/2907-Finding-the-High-Grade-Cobalt-Source-on-the-Lynx-Lake-Property-in-Labrador
German (PDF): http://rockstone-research.com/images/PDF/KingsBay5de.pdf
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