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King Global Ventures Announces Acquisition of Additional Property Group (1,300 ha) in the Gander Gold Belt Region of Newfoundland
Toronto, Ontario--(Newsfile Corp. - June 25, 2021) - King Global Ventures Inc. (TSXV: KING) (...
About this update from King Global Ventures Inc.
[{"type":"text","content":"King Global Ventures Announces Acquisition of Additional Property Group (1,300 ha) in the Gander Gold Belt Region of NewfoundlandToronto, Ontario--(Newsfile Corp. - June 25, 2021) - King Global Ventures Inc. (TSXV: KING) (OTC: KGLDF) (FSE: 5LM1) (the \"Company\" or \"King\") is pleased to announce that it has signed a definitive agreement to acquire the Chapel Island property located in central Newfoundland. The addition of the Chapel Island property brings King's total land holding in central Newfoundland to (4,144 ha). King's land holdings (Figure 1) are strategically located in one of the most active gold exploration jurisdictions in North America, the Gander Gold Belt Region of Newfoundland, Canada. Figure 1: King's Newfoundland Property LocationsTo view an enhanced version of Figure 1, please visit:https://orders.newsfilecorp.com/files/8052/88640_1662b4d6f43c5a18_001full.jpgThe Chapel Island Prospect consists of 54 mining claim blocks (1,300 ha) located in northeast-central Newfoundland, on Chapel Island, (Figure 2) within the Dunnage Tectonostratigraphic Zone of the Appalachian Orogen.Figure 2: Chapel Island Prospect Claim Map To view an enhanced version of Figure 2, please visit:https://orders.newsfilecorp.com/files/8052/88640_1662b4d6f43c5a18_002full.jpgThe Road Zone consists of four historical showings containing numerous Au occurrences. These occurrences have returned individual assay results up to 85 g/t Au and 32 g/t Au and 27 g/t Au. Chapel Island Nickel showings grab samples assayed up to 3.05% Ni. The Lost Swamp showing is composed of a silicified and carbonate altered Coaker porphyry that contains very, fine grained arsenopyrite, with assay results returning values up to 149.8 g/t Au and 23.3 g/t Ag. At the Swamp Zone, a total of 35 channels were cut for a combined length of 35.9 m at 8 different locations in the old trench. The best results from the sampling were 5.2 m of 484 ppb Au and 0.9 m of 3.9 g/t Au.John Cook, Chief Executive Officer of King Global Ventures, stated: \"We are pleased to add the Chapel Island Prospect to our current portfolio of prospective gold properties in central Newfoundland. The addition of this highly prospective property group within proven gold bearing Dunnage Corridor has us quite excited about the potential for further discoveries within this zone.\" King is currently completing ...