Up to 8,120 g/t Gold Returned in Grab Samples Taken at King’s Bay Gold Corporation’s Menary Gold Project Located in the Rainy River Gold Camp of Northwest Ontario
King's Bay Gold Corporation (TSX.V: KBG) is pleased to report that it has received the results of a sampling and assaying program undertaken at the Menary Gold Project.
As a result of this program, the company is now moving forward with its application to the Ontario Ministry of Northern Development & Mines for a permit to take a high-grade gold bulk sample of up to 999 tonnes to commence sometime during the winter or early spring of 2014.
The assay results obtained from these 155 grab samples ranged from a low of <0.0025 g/t Au to a high of up to 8,120 g/t Au. It is noted that grab samples as found in the table below are selective by nature and are unlikely to represent average grades for a deposit or deposits.
Of the 155 samples collected, all taken from within the approximately 2,238 hectare contiguous Menary claims group, the following table lists the 24 most significant gold grades obtained:
-------------------------------------------
|SAMPLE|Showing |Easting|Northing|Au |
|-----------------------------------------|
|Number|Name |NAD83 |Zone 15 |g/t |
|-----------------------------------------|
|399113|Galbraith A|435650 |5426707 |8,120|
|-----------------------------------------|
|399115|Galbraith A|435650 |5426707 |1,885|
|-----------------------------------------|
|399114|Galbraith A|435651 |5426708 |1,400|
|-----------------------------------------|
|399112|Galbraith A|435650 |5426707 |566 |
|-----------------------------------------|
|399057|Wagg |435629 |5425846 |186.5|
|-----------------------------------------|
|399106|Wagg |435608 |5425863 |134.5|
|-----------------------------------------|
|399058|Wagg |435618 |5425904 |51.1 |
|-----------------------------------------|
|399107|Wagg |435627 |5425847 |29.7 |
|-----------------------------------------|
|34352 |Galbraith A|435606 |5426696 |15.25|
|-----------------------------------------|
|399116|New Shear |436210 |5426246 |11.05|
|-----------------------------------------|
|399122|Wagg |435507 |5425633 |9.56 |
|-----------------------------------------|
|34322 |Galbraith A|435727 |5426665 |9.12 |
|-----------------------------------------|
|34303 |Galbraith A|435608 |5426687 |8.75 |
|-----------------------------------------|
|399004|Wagg |435645 |5425835 |6.86 |
|-----------------------------------------|
|399014|Wagg |435624 |5425837 |6.72 |
|-----------------------------------------|
|399118|New Shear |436211 |5426253 |6.00 |
|-----------------------------------------|
|34387 |Galbraith B|436772 |5426865 |4.72 |
|-----------------------------------------|
|399108|Wagg |435618 |5425844 |4.14 |
|-----------------------------------------|
|34334 |Galbraith A|435704 |5426603 |2.77 |
|-----------------------------------------|
|399117|New Shear |436211 |5426249 |2.64 |
|-----------------------------------------|
| | | | | |
|-----------------------------------------|
|SAMPLE|Showing |Easting|Northing|Au |
|-----------------------------------------|
|Number|Name |NAD83 |Zone 15 |g/t |
|-----------------------------------------|
|34388 |Galbraith B|436772 |5426865 |2.08 |
|-----------------------------------------|
|34368 |Galbraith A|435699 |5426650 |1.62 |
|-----------------------------------------|
|399119|New Shear |436365 |5426209 |1.45 |
|-----------------------------------------|
|399110|Wagg |435620 |5425844 |1.26 |
-------------------------------------------
Sampling & Assay Procedures
The 155 grab samples were taken from surficial bedrock exposures in either previously trenched areas or from isolated outcrops. Samples were labeled, placed in clear plastic sample bags and tied shut with flagging tape. They were described in the field with locations recorded with a hand-held GPS, marked in the field by writing the sample number on coloured flagging tape wrapped about a rock fragment placed at the sample location.
The samples were shipped as a single batch via an independent transport company to the ALS Global laboratory in Thunder Bay, Ontario where chemical analyses were performed using ICP and AA techniques on a 30-gram pulp split. Where the gold content >10 g/t the samples were reanalyzed gravimetrically and by gold screen fire assay. ALS Global Laboratory Group's Mineral Division, ALS Chemex is an ISO9001: 2000 certified laboratory.
Qualified Person's Statement
In compliance with National Instrument 43-101, Mr. Russell Crosby, M.Sc., P.Geo., is the Qualified Person (QP) for this project. Mr. Crosby has reviewed and approved the transcription of the technical disclosure in this news release.
Menary Project
The property is located in the Townships of Menary, Claxton, McClarty and Senn in the Kenora Mining Division of northwest Ontario. The claim units are located approximately 20 kilometres southeast of the Town of Nestor Falls, Ontario and can be accessed along Road 404, east of Highway 71 which runs between Kenora and Fort Frances, Ontario. The project is located roughly fifteen kilometers northeast of the Rainy River Project owned by New Gold Inc. (TSX: NGD) and within 12 kilometres of the recent discovery by Bayfield Ventures Corp. (TSX.V: BYV).
The property consists of the original core group of 4 un-patented mining claims acquired by option agreement in January 2010; an additional acquisition of 6 un-patented mining claims by option agreement in August 2010; the staking of 6 un-patented mining claims in October 2011; and a third option agreement was announced on May 7th, 2012 for 2 claims with Perry English, acting on behalf of Rubicon Minerals Corp., as the vendor.
The overall Menary Gold Project now consists of 18 claims for approximately 2,238 hectares in a single contiguous land package.
About King's Bay Gold
King's Bay Gold Corporation is a Canadian mineral exploration and development company with mineral projects located in two of Canada's emerging gold camps - the Rainy River / Kenora and Sturgeon Lake, ON gold camps.
KBG Shares Outstanding: 98,976,913
King's Bay Gold Corporation
Ray Prefontaine
Director & Chief Financial Officer
(204) 253-4653
info@kingsbaygold.com
This news release includes certain forward-looking statements concerning the future performance of King's Bay Gold Corporation's business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. Forward-looking statements are frequently identified by such words as "may", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. These forward-looking statements represent management's best judgment based on current facts and assumptions that management considers reasonable. The Company makes no representation that reasonable business people in possession of the same information would reach the same conclusions. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing and as described in more detail in the Company's recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and readers are cautioned against placing undue reliance thereon.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Copyright (c) 2013 TheNewswire - All rights reserved.
