ZURICH, SWITZERLAND / ACCESSWIRE / June 19, 2017 / Today, King’s Bay Gold Corp. (TSX.V: KBG; OTC PINK: KBGCF) announced to have located a high-priority electromagnetic target on its 100% owned Lynx Lake Copper-Cobalt Project in southeastern Labrador, Canada.
After analysis of Geotech Ltd.’s completed helicopter-borne VTEM survey, a shallow anomaly of high resistivity has now been identified in what is known as the “West Pit”, which is directly adjacent to the Trans-Labrador Highway.
When the Trans-Labrador Highway was built in 2008, rock aggregate was required and the West Pit was one of the chosen sources along the highway. Subsequent grab sampling in 2015 (considered historic) yielded assays of up to 0.56% cobalt, 1.03% copper, 0.23% vanadium, 0.36% chromium, 0.39% molbydenum, 0.1% nickel and 5 g/t silver. Generally, cobalt grades of 0.5% are considered high-grade.
The VTEM survey has now confirmed that the West Pit coincides with a distinct anomaly anticipated to be ranging in depth from 50-300 m and estimated to be approximately 400 m in diameter. This broad magnetic anomaly represents a disrcete shallow conductor and thus an excellent exploration target.
The full report can be accessed with the following links:
English (PDF): http://rockstone-research.com/images/PDF/KingsBay6en.pdf
English (web version): http://rockstone-research.com/index.php/en/research-reports/3167-VTEM-Survey-Reveals-Large-Conductor-Near-Surface-at-the-West-Pit-of-the-Lynx-Lake-Copper-Cobalt-Property-in-Labrador
German (PDF): http://rockstone-research.com/images/PDF/KingsBay6de.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