Tuesday 11th December 2018

Resource Clips


Posts tagged ‘King’s Bay Resources Corp (KBG)’

Zimtu’s advantages

January 20th, 2018

Opportunities come calling as Zimtu Capital builds junior companies’ potential

by Greg Klein

With equity holdings in a wide range of juniors, Zimtu Capital TSXV:ZC goes well beyond the prospect generator model to help nurture and grow the companies that comprise its assets. Looking at just a few examples, they can be exploring early-stage minerals projects, progressing an advanced-stage rare earths deposit or generating revenue through disruptive technology. Zimtu helps build the companies with administrative, promotional, technical, legal and financial expertise that ranges from prospectors in the bush to market insiders in Europe and Asia.

Opportunities come calling as Zimtu Capital builds junior companies’ potential

The ZimtuADVANTAGE program additionally offers companies a number of other marketing strategies, including extensive social media coverage and the ZimtuADVANTAGE app. The result is wider exposure and therefore greater investor awareness about each participant.

The breadth of Zimtu’s support brings each company a level of expertise, sophistication and prominence not easily obtained by smaller companies. To further understand the approach, take a look at some Zimtu equity holdings.

 

Meet the ZimtuADVANTAGE companies

 

92 Resources TSXV:NTY—Lithium in the NWT and Quebec, frac sand in B.C.

Metallurgy as well as field work make 92 Resources’ (TSXV:NTY) Hidden Lake hard rock lithium property a standout among early-stage projects. Grab samples from the highway-accessible location 40 kilometres east of Yellowknife have graded as high as 1.86% Li2O, while channel samples on pegmatite outcrops have reached up to 1.58% over 8.78 metres and 2.57% over 0.75 metres. There’s tantalum too, including a sample of 233 ppm Ta2O5 over 1 metre.

Phase I metallurgical tests, meanwhile, produced a high-grade concentrate of 6% to 6.5% Li2O, with recovery rates of 80% to 85% using conventional methods.

In eastern British Columbia, the company holds the Golden frac sand project next door to Northern Silica’s Moberly silica operation. 92 Resources also picked up three Quebec lithium properties. One of them yielded a 7.32% Li2O grab sample on an initial visit.

92 Resources began the new year by closing an oversubscribed private placement of $1.14 million.

Read an interview with 92 Resources CEO Adrian Lamoureux.

 

Arctic Star Exploration TSXV:ADD—Diamonds in Finland, critical minerals in B.C.

The Timantti project attracted Arctic Star Exploration’s (TSXV:ADD) experienced team of diamond explorers to a mining-friendly Finnish region with enviable infrastructure and a geological shield hosting two world-class Russian mines. Previous work showed 111 microdiamonds from 52.7 metres of historically extracted core and another 58 from an 18.9-kilogram sample. In November the company began an ambitious program of geophysics, till sampling and drilling to extract a 500-kilogram core sample from each of two especially promising kimberlites.

Arctic Star’s other diamond interests include its drill-ready Stein project in Nunavut and the Diagras JV in the NWT’s Lac de Gras region. An intriguing departure from gemstones, however, is the company’s Cap property in B.C., home to an exceptionally rare carbonatite-syenite complex that offers potential for several commodities. Assays released last fall from sampling and a single drill hole showed “highly anomalous” niobium, rare earths and phosphate grades.

In late November the company closed oversubscribed private placements totalling $1.69 million.

Read an interview with Arctic Star chairperson Patrick Power.

 

Belmont Resources TSXV:BEA—Lithium in Nevada

Opportunities come calling as Zimtu Capital builds junior companies’ potential

Deep-sensing geophysics will follow
Belmont Resources’ 2017 drill campaign.

Sixty-five kilometres from Clayton Valley, Belmont Resources TSXV:BEA sees encouraging signs of similar geology at its Kibby Basin lithium project. Beginning imminently will be an especially deep-sensing electromagnetics survey to help identify Phase II drill targets.

Last year’s two-hole program extracted core samples grading between 70 ppm and 200 ppm Li2O. Thirteen of 25 samples surpassed 100 ppm, “indicating that the sediments could be a potential source of lithium for the underlying aquifers.”

The company interprets gravity survey data to suggest a closed basin covering 400 hectares and reaching at least 1.5 kilometres in depth, sufficiently large to develop layers that could act as aquifers.

A more recent acquisition, the Mid Corner-Johnson Croft property in New Brunswick comes with historic, non-43-101 sample results for zinc, copper and cobalt. But it hasn’t seen modern geophysics. Belmont’s portfolio also includes a 50% interest in two Saskatchewan uranium properties.

The company closed an oversubscribed private placement of $312,200 In December.

Read an interview with Belmont Resources CFO/director Gary Musil.

 

Castle Silver Resources TSXV:CSR/Canada Cobalt Works—Cobalt in Ontario

Update: Effective February 23, 2018, Castle Silver Resources begins trading as Canada Cobalt Works TSXV:CCW.

Historically, high-grade silver was the attraction but the northern Ontario region of Cobalt got that name for a reason. It’s in and around that area that Castle Silver Resources TSXV:CSR—soon to be renamed Canada Cobalt Works—seeks one of the essential energy metals. Underground mini-bulk sampling at the company’s Castle flagship brought assays up to 3.1% cobalt. More assays are pending from last year’s sampling and 22-hole, 2,405-metre drill campaign at the former mine.

Eighty kilometres southeast, an initial program at the company’s Beaver project collected three hand-cobbed samples, all exceeding 4% cobalt with impressive nickel grades, silver and some gold.

In November Castle Silver signed a provisional milling agreement to locate a plant on its property to process material from Granada Gold Mine’s (TSXV:GGM) project about 200 kilometres away. Additionally Castle Silver sees potential in its Re-2OX proprietary metallurgical process to produce cobalt concentrate.

The company closed a private placement of $1.03 million in mid-January.

 

Commerce Resources TSXV:CCE—Rare earths in Quebec, tantalum-niobium in B.C.

Opportunities come calling as Zimtu Capital builds junior companies’ potential

Amid increasing concern about critical minerals supply,
Commerce Resources’ Ashram rare earths deposit
benefits from geology, metallurgy and location.

An advanced-stage rare earths project endowed with magnet feed elements, amenable to conventional processing and moving towards pre-feasibility in a mining-friendly province—that begins to describe Commerce Resources’ (TSXV:CCE) Ashram deposit in northern Quebec.

Obviously waiting for an update is the 2012 resource, which used a 1.25% cutoff for this near-surface deposit:

  • measured: 1.6 million tonnes averaging 1.77% total rare earth oxides and 7.7% CaF2

  • indicated: 28 million tonnes averaging 1.9% TREO and 5.9% CaF2

  • inferred: 220 million tonnes averaging 1.88% TREO and 4.5% CaF2

The company has sunk about 9,200 metres since then, hitting high grades within carbonatite host rocks containing minerals amenable to well-known processing methods. Showing a superior distribution of magnet feed REOs, Ashram’s metallurgical studies continue to streamline the flowsheet for a high-grade concentrate, also finding potential for a fluorspar byproduct. The REE-hungry world has noticed, with companies like Solvay, Mitsubishi, Treibacher, BASF, DKK, Albemarle, Blue Line and others requesting samples.

Turning to other critical minerals, Commerce’s Blue River/Upper Fir tantalum-niobium deposit in southeastern B.C. reached PEA in 2011 and a resource update in 2013.

Read more about Commerce Resources.

 

Emerita Resources TSXV:EMO—Zinc in Spain, zinc and lithium in Brazil

An acquisitive nature could position this company to take part in zinc’s ascendency. In October Emerita Resources TSXV:EMO joined a 50/50 JV on the Plaza Norte property in northern Spain. The new turf hosts extensions of the past-producing Reocin mine, which gave up 62 million tonnes averaging 11% zinc and 1.4% lead up to 2003. Plaza Norte’s historic, non-43-101 drill results include 9.72% zinc over 18.96 metres and 7.05% over 8.2 metres. As project operator, Emerita has a review underway of the property’s extensive previous data. The company’s JV partner, the Aldesa Group, is a specialized construction and infrastructure firm operating globally.

In Brazil, Emerita holds a 100% option on the Litio project adjacent to the Companhia Brasileira de Litio lithium mine. Emerita’s initial field work has found pegmatite dykes similar to those next door. Other potential acquisitions include the Salobro zinc project in Brazil, along with Paymogo and Aznalcollar, two zinc properties in Spain.

Last month the company closed an oversubscribed private placement totalling $4.24 million, with funds earmarked for Plaza Norte and Salobro.

 

Georox Resources TSXV:GXR—Conventional oil and gas in western Canada

A non-binding LOI signed in December would bring Georox Resources TSXV:GXR a 16,146-hectare Saskatchewan acquisition with 97% oil production and an average working interest of 96.6%. Average daily net production estimates for the first nine months of last year came to 1,415 boe/d. “The oil pools have significant reactivation, waterflood implementation and infill drilling potential,” Georox stated. Subject to due diligence and approvals, the parties expect to consummate by the end of February for a price of $4.5 million.

The company offered a private placement earlier this month of up to $700,000.

 

Glance Technologies CSE:GET—Bringing the newest technology to consumer transactions

Connecting smartphone users with merchants and service providers, Glance Technologies’ (CSE:GET) Glance Pay system goes beyond fast payments to provide marketing, targeted coupons, customer feedback, in-merchant messaging, custom rewards and fraud protection.

At the forefront of blockchain developments, Glance Technologies earlier this month announced a definitive agreement with Cannabis Big Data Holdings to provide technology allowing marijuana retailers and producers to handle cryptocurrency transactions. That’s one example of licensing agreements with the cannabis, fitness and wellness, tourist and foreign student markets.

Late last month Glance Technologies closed a bought deal totalling $11.05 million, boosting the company’s treasury to over $17.4 million.

 

Golden Dawn Minerals TSXV:GOM—Q2 gold-copper production in B.C.

Opportunities come calling as Zimtu Capital builds junior companies’ potential

Having finished dewatering, Golden Dawn prepares to
restart underground operations at southern B.C.’s Lexington mine.

With trial mining set to begin within months, Golden Dawn Minerals TSXV:GOM seeks to revive southern B.C.’s historic Greenwood mining camp. The company holds a cluster of past-producers within 20 kilometres of its Greenwood mill, a 212-tpd facility expandable to 400 tpd that was built in 2007 and put on care and maintenance the following year. The local infrastructure’s condition inspires the company to enter production without de-risking at the feasibility level.

Top priority goes to Lexington, which produced 5,486 ounces of gold, 3,247 ounces of silver and 860,259 pounds of copper in 2008. Two other frontrunners are the Golden Crown gold-copper project and May Mac silver-gold-polymetallic project, both nearby former mines that underwent drilling last year. Meanwhile Golden Dawn continues to expand its portfolio, both in the Greenwood area and farther north.

The company’s most recent financing closed this month on $337,500.

Read more about Golden Dawn Minerals.

 

Kapuskasing Gold TSXV:KAP—Newfoundland copper and zinc

The property’s first drill program since the 1960s barely whetted Kapuskasing Gold’s (TSXV:KAP) appetite for copper exploration at its Lady Pond flagship in northern Newfoundland. Now backed by new intel, the company plans to return for another attack this year. An historic, non-43-101 estimate gives the project’s Sterling prospect about one million tonnes averaging 1% copper that’s open in all directions. Grab samples released in October showed up to 9.03% copper for the Twin Pond prospect, 7.19% copper for Sterling and 1.54% copper with cobalt and silver for the Lady Pond prospect.

Located 94 kilometres by road from a Rambler Mining and Metals TSXV:RAB base metals mill, the Lady Pond project can be reached by logging roads and ATV.

On Newfoundland’s Great Northern Peninsula, Kapuskasing picked up the Daniel’s Harbour property, host to the former Teck mine that produced around seven million tonnes averaging 7.8% zinc from 1975 to 1990. The past-producer’s Mississippi Valley Type deposit suggests the potential for additional resources appearing in clusters.

While in the Great Northern Peninsula, Kapuskasing staked another 1,625 hectares to move in on the burgeoning Gunners Cove gold area play. The company closed private placements totalling $115,000 in August, following a $201,200 placement that closed in June.

Read an interview with Kapuskasing president/CEO Jon Armes.

 

King’s Bay Resources TSXV:KBG—Nickel-cobalt in Labrador, copper-cobalt in Newfoundland

An unexpected benefit of the new Trans-Labrador Highway was recognized by a prospector who sampled roadside copper and cobalt with some nickel and silver. King’s Bay Resources TSXV:KBG moved onto the virgin turf with a more systematic field program, airborne VTEM and last autumn’s initial two-hole program. Although collared over 150 metres apart, each hole found mineralization over wide intercepts, encouraging plans for further drilling following geostatistical and structural analysis.

Meanwhile Phase I field work at the company’s Trump Island project in northern Newfoundland collected 15 grab samples, four of them grading over 1% copper and between 272.3 ppm and 1,213.6 ppm cobalt. One sample underwent an additional ore grade analysis, showing 6.07% copper, 300 ppm cobalt and 14.4 ppm silver. Follow-up exploration is slated for spring.

King’s Bay offered a $250,000 private placement in September that followed financings that closed on $402,000 the previous month.

 

MGX Minerals CSE:XMG—Commodities and technology for energy and industry

As if trying to fuel the energy revolution single-handedly, MGX Minerals CSE:XMG holds a portfolio bursting with nearly three dozen projects. In Alberta and Utah the company counts 20 lithium properties in the exploration state and two more undergoing well-testing. B.C. properties include three silicon projects and eight magnesium projects. Unsated, in November the company opened a satellite office in Chile to evaluate opportunities there.

Some project highlights include the Driftwood Creek magnesium property in B.C., now moving towards a preliminary economic assessment. Paradox Basin in Utah has exploration underway for oil, gas, lithium and other brine minerals. A 2,000-metre drill program has just begun at the company’s 20%-held Case Lake lithium project in Ontario, following a recently completed 5,400-metre campaign.

Among a number of technological developments, MGX claims a breakthrough for zinc-air flow batteries by avoiding dendrite damage, “the single most significant hurdle” in the batteries’ development. With its subsidiary ZincNyx Energy Solutions, the company’s now working on final commercial design for mass production of its scalable 20 kWh zinc-air mass storage battery.

On another technological front, MGX partners with its 46%-held PurLucid Treatment Solutions on a patented process for brine treatment and selective lithium recovery.

Activity like that doesn’t come cheap. In December MGX closed private placements totalling $12.9 million. The previous month MGX and PurLucid won federal/provincial grants totalling up to $8.2 million for their oilpatch water treatment system.

 

Mountain Boy Minerals TSXV:MTB—Exploring the treasures of B.C.’s Golden Triangle

Opportunities come calling as Zimtu Capital builds junior companies’ potential

Rugged but rich terrain attracts Mountain
Boy Minerals to B.C.’s Golden Triangle.

With a stake in several northwestern B.C. properties, Mountain Boy Minerals TSXV:MTB took part in two joint-ventured drill programs last year, along with geophysics on two 100%-held properties. Results so far from the company’s 35%-held Red Cliff gold project show high grades over wide intervals as drilling followed a mineralized system over two kilometres. More assays are pending from the 51-hole program.

Another 14 holes went into Mountain Boy’s 20%-held Silver Coin, hitting high-grade gold and finding a new gold zone. Again, the company’s awaiting further lab results. A 2011 resource gives the project measured and indicated totals of 842,416 ounces gold, 4.46 million ounces silver and 91.2 million pounds zinc. The inferred numbers come to 813,273 ounces gold, 6.7 million ounces silver and 128 million pounds zinc.

Moving closer to the drill stage are two contiguous 100%-held silver-base metals projects, BA and Surprise Creek. Trench assays from late 2016 suggest polymetallic promise with high-grade zinc as well as silver and lead. Following previous drilling, metallurgical tests produced a barite concentrate that exceeds industry standards for this mineral essential to oil and gas exploration.

Mountain Boy offered a private placement of up to $300,000 in October.

Read an interview with Mountain Boy Minerals chairperson René Bernard.

 

ParcelPal Technology CSE:PKG—Online shopping with fast delivery

Opportunities come calling as Zimtu Capital builds junior companies’ potential

ParcelPal’s “Get Anything functionality” adds
fast delivery to shop-by-phone transactions.

Order via smartphone app and get quick delivery at home, work or elsewhere—that’s the disruption ParcelPal Technology CSE:PKG brings to merchants and courier services. Retail, liquor and especially restaurants are currently the partner businesses as ParcelPal expands throughout the Greater Vancouver region. The company says its “Get Anything functionality” allows consumers to “order virtually anything and have it delivered in an hour or less.”

Just six months in operation, the company sees positive business and consumer response, with 3,000 app downloads in October and November, and repeat clients. Future goals include expansion in other major Canadian cities, and eventually the U.S. and abroad.

ParcelPal closed an oversubscribed private placement of $1.65 million in mid-January.

 

Rockcliff Metals TSXV:RCLF—A gold-VMS camp in Manitoba

It might be said that Rockcliff Metals TSXV:RCLF picks up where Hudbay Minerals TSX:HBM leaves off. Rockcliff assembled its portfolio largely by acquiring non-core Hudbay assets in Manitoba’s Flin Flon-Snow Lake region. As a result Rockcliff holds interests in five gold projects, two copper-polymetallic deposits with resource estimates and three zinc deposits with historic, non-43-101 estimates. All lie within trucking distance of two Hudbay processing facilities.

With three projects active last year, Rockcliff updated its Talbot resource in December, announcing an inferred 150 million pounds copper, 130.4 million pounds zinc, 241,000 ounces gold and 3.8 million ounces silver that’s open in all directions.

Recent stepout drilling brought high-grade zinc results from Bur, moving the project from historic towards 43-101 resource stage. Currently the non-43-101 numbers show an indicated 1.05 million tonnes averaging 8.6% zinc and 1.9% copper, along with an inferred 302,000 tonnes averaging 9% zinc and 1.4% copper, as well as some silver and gold.

Polymetallic VMS isn’t Snow Lake’s only attraction. Among Rockcliff’s gold properties is the former Laguna mine, where induced polarization and resistivity found 17 anomalies over a trend that hasn’t been drilled since 1944.

In August Rockcliff closed an oversubscribed private placement of $1.35 million.

Read more about Rockcliff Metals here and here.

 

Saville Resources TSXV:SRE—Niobium-tantalum in Quebec

Strong sample grades with an outstanding 5.9% niobium pentoxide enticed Saville Resources TSXV:SRE onto Commerce Resources’ Eldor property earlier this month. While the latter company focuses on bringing its rare earths project to pre-feasibility, Saville took on a 75% earn-in on the Eldor niobium claims, enthusiastic about their potential for critical minerals.

Out of 64 samples collected by Commerce, 40 exceeded 0.5% Nb2O5, 16 of them surpassing 1%. Assays also showed significant tantalum, phosphate and rare earths numbers. Among previous drill results were 0.46% Nb2O5 over 46.88 metres and 0.55% over 26.1 metres (including 0.78% over 10.64 metres).

Results also show niobium-tantalum occurring within the mineral pyrochlore, the world’s dominant source for those critical elements. Eldor’s pyrochlore shows a relatively course grain size, a positive prognosis for metallurgy.

At Saville’s other northern Quebec asset, Covette’s sampling and geophysics show potential for base and precious metals.

In December the company offered private placements totalling up to $500,000.

Read more about Saville Resources.

 

Voltaic Minerals TSXV:VLT—Lithium from brine and from wastewater too

Voltaic Minerals TSXV:VLT sees three key distinctions to its Green Energy lithium project in Utah. A review of extensive historic oil and gas exploration data indicates the property’s brine to be over-saturated with 40% minerals in 60% water, suggesting potential for a wide range of minerals. The brine also faces immense pressure and high temperature, two factors that would aid extraction. The 1,683-hectare property has proximity to road, rail and power.

But apart from the Green Energy project, Voltaic takes another approach to sourcing lithium. The company has engaged Whittier Filtration, a division of global leader Veolia Water Technologies, to develop marketable processes for extracting lithium from wastewater taken from commercial and industrial sites. The companies expect to report bench scale tests soon.

King’s Bay Resources reports initial drill results from Labrador nickel-cobalt project

January 16th, 2018

by Greg Klein | January 16, 2018

Although collared 150 metres apart, the first two holes on King’s Bay Resources’ (TSXV:KBG) Lynx Lake property both showed nickel-cobalt values above background levels over wide intervals.

King’s Bay Resources reports initial drill results from Labrador nickel-cobalt project

Lynx Lake has the Trans-Labrador Highway
bisecting the property, as well as adjacent power lines.

Hole LL-17-01 brought 0.058% nickel and 0.013% cobalt over 115.2 metres. LL-17-02 returned 0.057% nickel and 0.014% cobalt over 110.8 metres (not true widths). The thickness of the intervals and distance between the holes suggest “potential for a more localized zone of economic mineralization in the area,” the company stated. Assays for gold, platinum and palladium are expected later this month.

The initial drill campaign tested a small part of an approximately 24,200-hectare property. Under focus was the project’s West Pit, where airborne VTEM found a shallow anomaly of high resistivity measuring about 400 metres in diameter and 50 to 300 metres in depth. Historic, non-43-101 grab sample assays from the area graded up to 1.03% copper, 0.566% cobalt, 0.1% nickel, 5 g/t silver, 0.36% chromium, 0.39% molybdenum and 0.23% vanadium.

Other historic, non-43-101 grab samples from the property’s east side showed up to 1.39% copper, 0.94% cobalt, 0.21% nickel and 6.5 g/t silver.

King’s Bay now plans geostatistical and structural analysis to identify more drill targets. A field crew returns later this year.

Meanwhile a 6% copper grade highlighted last month’s results from the company’s Trump Island project in northern Newfoundland. Four of 15 outcrop samples surpassed 1% copper and also showed cobalt assays up to 0.12%.

In September King’s Bay offered a $250,000 private placement that followed financings totalling $402,000 that closed the previous month.

King’s Bay Resources samples 6% copper in Newfoundland, awaits Labrador cobalt assays

December 15th, 2017

by Greg Klein | December 15, 2017

A three-day Phase I field program in northern Newfoundland brought encouraging copper grades for King’s Bay Resources’ (TSXV:KBG) Trump Island project. Out of 15 samples taken from outcrop, four surpassed an upper detection limit of 1% copper, with results showing:

King’s Bay Resources samples 6% copper in Newfoundland, awaits Labrador cobalt assays

  • >10,000 ppm copper, 303 ppm cobalt and >6 ppm silver

  • >10,000 ppm copper, 1,213.6 ppm cobalt and 21.1 ppm silver

  • >10,000 ppm copper, 634.5 ppm cobalt and 27.4 ppm silver

  • >10,000 ppm copper, 272.3 ppm cobalt and 28.7 ppm silver

With those numbers from aqua regia digestion Ultratrace ICP-MS analysis, King’s Bay sent the first sample to a second lab for additional tests using ICP and ore grade analysis, with the following result:

  • 6.07% copper, 0.03% cobalt and 14.4 ppm silver

Grab samples don’t represent the entire property, King’s Bay cautioned. But the company sees further exploration warranted for next spring. The boat-accessible property’s historic work dates to historic times, when in 1863 a miner from Cornwall reportedly extracted a supply of copper and cobalt for shipment to Wales. Non-43-101 results from 1999 grab sampling near the Cousin Jack’s mineshaft showed 3.8% copper, 0.3% cobalt, 2.9 g/t gold and 10.9 g/t silver. The 200-hectare property has yet to be drilled.

Last month King’s Bay wrapped up an initial two-hole, 502-metre program at its Lynx Lake cobalt project in Labrador. Assays are expected in early January but the company reported intervals of net textured gabbro totalling 164.3 metres, along with a 14.9-metre intercept of mineralized biotite gabbro. The holes targeted the West Pit area, where the company anticipates a VTEM anomaly to range from 50 to 300 metres’ depth and about 400 metres in diameter. A highway and powerlines run through the 24,000-hectare property.

King’s Bay offered a $250,000 private placement in September.

King’s Bay Resources to begin first-ever drill program on Labrador copper-cobalt project

October 26th, 2017

by Greg Klein | October 26, 2017

Following up on field work and airborne geophysics, King’s Bay Resources TSXV:KBG has returned to its Lynx Lake property to prepare the site for an initial drill campaign. Under focus will be a VTEM-identified anomaly about 400 metres in diameter, extending about 50 to 300 metres in depth on the property’s West Pit.

King’s Bay Resources begins first-ever drill program on Labrador copper-cobalt project

A prospector displays a sample of
massive sulphides from Lynx Lake.

Historic, non-43-101 grab samples from the area brought up to 1.03% copper, 0.566% cobalt, 0.1% nickel, 5 g/t silver, 0.36% chromium, 0.39% molybdenum and 0.23% vanadium. At least two holes totalling 500 metres are planned.

About 24,000 hectares in size, the southeastern Labrador property has a year-round highway passing through the property and an adjacent powerline. East of the highway, historic, non-43-101 grab samples assayed up to 1.39% copper, 0.94% cobalt, 0.21% nickel and 6.5 g/t silver.

Earlier this month King’s Bay wrapped up Phase I exploration at its 200-hectare Trump Island copper-cobalt project on Newfoundland’s northern coast. Assays are pending for 15 outcrop samples showing sulphidic wall rock and massive sulphide veins.

In September the company offered a private placement up to $250,000. The previous month King’s Bay closed the second tranche of a financing that totalled $402,750.

See an infographic about cobalt.

King’s Bay prepares for Newfoundland copper-cobalt field program

July 26th, 2017

by Greg Klein | July 26, 2017

Update: Effective August 14, 2017, King’s Bay Gold begins trading as King’s Bay Resources TSXV:KBG.

Copper-cobalt findings dating to the 19th century have King’s Bay Gold TSXV:KBG about to begin Phase I exploration on its Trump Island project off Newfoundland’s northern coast. The company has a team ready to study historic data prior to geophysics and grab sampling on the 200-hectare property. Depending on results, Phase II could incorporate drilling.

King’s Bay prepares for Newfoundland copper-cobalt field program

The property’s exploration history dates to 1863, when a Cornish miner sunk a six-metre shaft to follow a zone of massive chalcopyrite. Mineralization reportedly expanded with depth but the technology of the time prevented further excavation. Nevertheless the Cousin Jack reportedly shipped to Wales high-grade copper-cobalt material archaically recorded as “40 pounds per fathom.”

Grab samples collected near the shaft in 1999 showed historic, non-43-101 results up to 3.8% copper, 0.3% cobalt, 2.9 g/t gold and 10.9 g/t silver.

Located seven miles south of the town of Twillingate, Trump Island has boat access to a highway 1.5 kilometres away.

Last month King’s Bay reported geophysical results from another copper-cobalt project, this one along a provincial highway in Labrador. Airborne VTEM over the 24,000-hectare Lynx Lake property revealed a shallow anomaly of high resistivity about 400 metres in diameter and 50 to 300 metres in depth. The results came from the project’s West Pit, where historic, non-43-101 grab samples showed up to 1.03% copper, 0.566% cobalt, 0.1% nickel, 5 g/t silver, 0.36% chromium, 0.39% molybdenum and 0.23% vanadium.

Lynx Lake’s summer agenda includes higher-resolution ground geophysics, possible stripping to expose bedrock south of the pit and follow-up work on historic soil samples on the property’s southeastern area, along with mapping and sampling over both areas.

The company’s portfolio also includes three Quebec properties with historic, non-43-101 cobalt results.

Earlier this month King’s Bay closed a first tranche totalling $316,250 of a private placement offered up to $725,000. The company expects to close the second tranche by the end of August. King’s Bay closed a previous financing of $938,752 in January.

Read about cobalt supply and demand.

See an infographic about cobalt.

Geophysical anomaly heightens King’s Bay interest in Labrador cobalt project

June 19th, 2017

by Greg Klein | June 19, 2017

Update: Effective August 14, 2017, King’s Bay Gold begins trading as King’s Bay Resources TSXV:KBG.

Newly analyzed data has King’s Bay Gold TSXV:KBG planning to resume its search for copper and cobalt beside the Trans-Labrador Highway. Results from last winter’s 382-line-kilometre airborne VTEM survey over the Lynx Lake project reveal a shallow anomaly of high resistivity estimated at about 400 metres in diameter and 50 to 300 metres in depth. The finding comes from the property’s West Pit, where historic, non-43-101 grab samples assayed up to 1.03% copper, 0.566% cobalt, 0.1% nickel, 5 g/t silver, 0.36% chromium, 0.39% molybdenum and 0.23% vanadium.

Geophysical anomaly heightens King’s Bay interest in Labrador cobalt project

Cutting right through the property, the highway offers year-round access to the town of Happy Valley-Goose Bay, about 1.5 hours
away. Powerlines are under construction along the northern
part of the property.

Summer plans now call for higher-resolution ground geophysics over the target area, potentially followed by overburden stripping to expose bedrock south of the pit. The crew will also follow up on historic soil sample anomalies on the property’s southeastern area. Detailed mapping and sampling will cover both areas.

Interest began in the property as the highway was being built in 2008. A contractor with prospecting experience noticed disseminated and massive sulphides beside the new route. Along with the West Pit results, grab samples east of the highway brought non-43-101 results up to 1.39% copper, 0.94% cobalt, 0.21% nickel and 6.5 g/t silver.

Lynx Lake began as a 2,000-hectare acquisition which King’s Bay expanded to about 24,000 hectares following a review of data from government regional low-resolution magnetic surveys and preliminary handheld EM surveys.

The quest for cobalt has led King’s Bay to other acquisitions. In February the company announced a 100% option on the Trump Island copper-cobalt property in Newfoundland. Earlier that month King’s Bay picked up three Quebec properties with historic, non-43-101 cobalt sampling results.

The company closed a $938,752 private placement in January.

Read about cobalt supply and demand.

See an infographic about cobalt.

King’s Bay flies geophysics over Labrador copper-cobalt project

February 28th, 2017

by Greg Klein | February 28, 2017

Following a 12-fold expansion of the property last month, King’s Bay Gold TSXV:KBG announced a VTEM survey now airborne on the Lynx Lake copper-cobalt project in southeastern Labrador. Survey operator Geotech Ltd says its proprietary system reaches more than 800 metres in depth, featuring high spatial resolution as well as a low base frequency to pass through conductive overburden. “This system is advertised to be able to delineate potential drill hole targets from the airborne results,” King’s Bay stated. The survey’s expected to wrap up by mid-April.

King’s Bay flies geophysics over Labrador copper-cobalt project

Field work revealed gossan and
massive sulphides at Lynx Lake.

Lynx Lake’s potential came to light after the Trans-Labrador Highway opened up the region in 2008. Grab samples from the 24,000-hectare property’s east side showed non-43-101 results up to 1.39% copper, 0.94% cobalt, 0.21% nickel and 6.5 g/t silver. On the west side, non-43-101 grab samples assayed up to 1.03% copper, 0.566% cobalt, 0.1% nickel, 5 g/t silver, 0.36% chromium, 0.39% molybdenum and 0.23% vanadium.

A regional low-res magnetic survey conducted by the province and a hand-held EM device brought preliminary indications of strong conductors in the area. A 90-minute drive from the town of Happy Valley-Goose Bay, Lynx Lake has powerlines and a highway adjacent to the property.

Two weeks earlier King’s Bay announced a 100% option on the Trump Island property in Newfoundland, where a shipment of high-grade copper-cobalt material was reportedly mined in 1863. In early February the company picked up three Quebec properties, all of which had historic, non-43-101 sampling results showing cobalt.

King’s Bay closed a $938,752 private placement in January.

See an infographic: Cobalt—A precarious supply chain.

As cobalt prices soar, King’s Bay expands prospects with Newfoundland acquisition

February 16th, 2017

by Greg Klein | February 16, 2017

A name and a commodity that are both objects of feverish attention seem to meet up in Newfoundland, where King’s Bay Gold TSXV:KBG has acquired the Trump Island copper-cobalt property. A 100% option announced February 16 expands the company’s cobalt prospects in Newfoundland, Labrador and Quebec.

Back in 1863 a Cornish miner sunk a six-metre shaft to follow a zone of massive chalcopyrite. He reportedly sent a shipment of high-grade copper-cobalt ore to Wales.

King’s Bay expands cobalt prospects with Newfoundland acquisition

Grab samples collected nearby in 1999 brought historic, non-43-101 results up to 3.8% copper, 0.3% cobalt, 2.9 g/t gold and 10.9 g/t silver.

The initial King’s Bay agenda would call for additional sampling, along with mapping and a local-scale electromagnetic survey on the 200-hectare property. Successful results could bring a summer drill campaign.

Subject to approvals, King’s Bay gets Trump Island for 200,000 shares at a deemed value of $0.195 and a 2% NSR.

The boat-accessible property sits seven kilometres south of Twillingate, a town immortalized in Newfoundland’s unofficial national anthem.

In Labrador, meanwhile, King’s Bay has airborne EM planned for its Lynx Lake copper-cobalt project, where grab samples have shown non-43-101 results up to 1.39% copper, 0.94% cobalt and 0.21% nickel, as well as chromium, molybdenum and vanadium values. Last month the company expanded Lynx Lake from about 2,000 hectares to approximately 24,000 hectares.

Earlier this month King’s Bay picked up three cobalt projects in Quebec. The company closed a $938,752 private placement in January.

The acquisitions come as cobalt prices continue their meteoric rise, hitting six-year highs up to $20 a pound, reported MetalBulletin.com. That represents an approximately 50% increase since September, according to Reuters. Stating that many traders are hoarding the metal, Reuters predicted a supply deficit this year “exacerbated by an insecure supply chain. Almost 60% of the world’s cobalt lies in politically risky Democratic Republic of Congo.”

See an infographic about cobalt.

King’s Bay Gold acquires three Quebec cobalt projects

February 6th, 2017

by Greg Klein | February 6, 2017

A metal facing rising prices and supply-side risk, cobalt has drawn King’s Bay Gold TSXV:KBG to three new properties in Quebec. Previous work has shown cobalt on each acquisition.

King’s Bay Gold acquires three Quebec cobalt projects

Northeast of the Hudson Bay coast, the 875-hectare Ninuk Lake project underwent surface sampling, mapping and electromagnetics by Falconbridge in 2001. Samples from massive sulphides in outcrop found historic, non-43-101 results up to 2.6% nickel, 1.8% copper and 0.27% cobalt. Falconbridge neglected to follow up due to other discoveries that year, King’s Bay stated.

A northwestern Quebec property, the 418-hectare Broadback River project revealed several large conductors through airborne surveys in 1985. Sampling by Falconbridge from 1999 to 2000 showed historic, non-43-101 results up to 0.7% nickel, 0.3% copper and 0.09% cobalt. Drilling tested the property’s northwestern area but not the southeastern conductors.

South of Quebec City, the 179-hectare Roberge project has undergone soil sampling with historic, non-43-101 results up to 1.06% cobalt.

Now compiling data from the properties, King’s Bay plans a spring program of mapping and sampling to confirm the historic results.

Last month the company closed its acquisition of the 24,000-hectare Lynx Lake copper-cobalt project in south-central Labrador, which has airborne EM planned. Grab samples from the property’s east side brought non-43-101 results up to 1.39% copper, 0.94% cobalt, 0.21% nickel and 6.5 g/t silver. Grab samples on the west side showed non-43-101 results up to 1.03% copper, 0.566% cobalt, 0.1% nickel, 5 g/t silver, 0.36% chromium, 0.39% molybdenum and 0.23% vanadium.

King’s Bay closed a $938,752 private placement in January.

See an infographic about cobalt.

Updated: Financing, permitting, 12-fold expansion bring King’s Bay closer to Labrador copper-cobalt exploration

January 17th, 2017

by Greg Klein | January 15, 2017

Update: On January 17, King’s Bay announced the expansion of its Lynx Lake property from about 2,000 hectares to approximately 24,000 hectares “to adequately cover the geological structures and geophysical signatures of interest.”

 

With a provincial permit in hand and a $938,752 private placement that closed earlier this month, King’s Bay Gold TSXV:KBG readies for airborne EM over its Lynx Lake copper-cobalt project in south-central Labrador. The survey will precede a proposed first-ever drill program for the property.

Financing, permitting bring King’s Bay closer to Labrador copper-cobalt exploration

Previous work began after construction of the Trans-Labrador Highway in 2008, which unlocked some of the region’s geology. Grab samples from a quarry on the property’s east side showed non-43-101 results up to 1.39% copper, 0.94% cobalt, 0.21% nickel and 6.5 g/t silver. Other non-43-101 grab sample results from a west-side quarry ranged up to 1.03% copper, 0.566% cobalt, 0.1% nickel, 5 g/t silver, 0.36% chromium, 0.39% molybdenum and 0.23% vanadium.

Preliminary evidence of strong conductors in the area came from the province’s regional low-res magnetic surveys and a hand-held EM-16 device.

With highway and powerlines running adjacent to the property, Lynx Lake can be reached by a 1.5-hour drive from the town of Happy Valley-Goose Bay.

Cobalt, one of the energy metals essential to battery manufacture, presents especially troubling supply concerns due to the instability and human rights infractions of the metal’s largest producer, the Democratic Republic of Congo. See an infographic about cobalt’s precarious supply chain.