King's Bay Gold Commences Airborne Geophysical Survey Adjacent to 'North Rock' Platinum Discovery and Acquires More Land.WINNIPEG, Manitoba -- King's Bay Gold Corp. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:KBG KBG Kentucky Bluegrass KBG King's Bay Gold Corporation (stock symbol) KBG Katherman, Briggs & Greenberg, LLP KBG Kick Butts Generation (Delaware anti-tobacco youth movement) ) is pleased to announce that it has commenced an heli-borne Time Domain E.M. Survey (VTEM) and a Cesium cesium (sē`zēəm) [Lat.,=bluish gray], a metallic chemical element; symbol Cs; at. no. 55; at. wt. 132.9054; m.p. 28.4°C;; b.p. 669.3°C;; sp. gr. 1.873 at 20°C;; valence +1. Magnetometer survey over the Company's 100% owned claim group located in the "North Rock" area 25 km east of Fort Francis, Ontario. The property is easily accessed via the Trans Canada Highway Trans Canada Highway can refer to:
King's Bay is also pleased to announce that it as signed an agreement to acquire a 100% interest in 308 claim units directly adjacent to the "North Rock" claims owned by MetalCORP Ltd, which was recently the site of a high grade discovery of platinum in a gold-copper-nickel-rich ultramafic ul·tra·maf·ic adj. Ultrabasic. ultramafic Containing mainly mafic minerals. Used of igneous rocks and often used interchangeably with ultrabasic. Dunite is an ultramafic rock. intrusive. The Company now owns the largest land package in the "North Rock" area, controlling a total of 411 claim units or (16,440 acres). King's Bay can acquire a 100% interest, subject to regulatory approval, in the new claims by making the following payments to the vendor: a) $20,000 in cash and b) 25,000 common shares of King's Bay. This airborne survey will be conducted by Geotech Ltd of Aurora, Ontario Aurora (2006 Population 47,629[1]) is an affluent Canadian town in York Region, approximately 40 km north of Toronto. It is situated on the Oak Ridges Moraine in a part of the Greater Toronto Area and the Golden Horseshoe. and will cover the company's ground located in Watten East, Watten West, Obikoba and Halkirk Townships for a total of 980 line kilometers, where similar geological units and structures exist on King's Bay's ground. King's Bay is also presently reviewing the data from its 2001 exploration program on its Swell Bay project located a few kilometers to the east in Halkirk Township, where grab samples returned some high grade gold results as high as 718.0 gpt Au. Trenching also returned anomalous gold over a width of forty feet of which a section returned values of 8.9 grams or (0.284 oz/Au/ton) over 20 feet. The survey is designed to test for high priority anomalies for subsequent follow-up. The property has never previously been surveyed using modern geophysical techniques. Geologist John Archibald is the qualified person under NI 43-101. About King's Bay Gold King's Bay Gold Corporation is a very active and well financed Canadian mineral exploration company with nine gold projects strategically located in Canada's gold camps. Strategic locations include - (i) a property located directly adjacent to Canada's largest gold mine, (ii) a past producing gold mine where exploration is scheduled to commence immediately, and (iii) other locations that are in very close proximity to either past producers and / or recent discoveries. Outstanding Shares: 30,141,000 Working Capital: $3,000,000.00 On behalf of the Board: Richard Rivet, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Some of the statements contained in this release are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , such as estimates and statements that describe KBG's future plans, objectives or goals, including words to the effect that KBG or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. does not accept responsibility for the ad equacy or accuracy of this release. King's Bay Gold Corporation (TSX VENTURE:KBG) |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion