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Escalating cobalt prices lead King's Bay to acquire Trump Islands property
ZURICH, SWITZERLAND / ACCESSWIRE / February 16, 2017 / Previous coverage on King's Bay Gold...
About this update from Lion Rock Resources Inc
[{"type":"text","content":"Escalating cobalt prices lead King‘s Bay to acquire Trump Islands property\nZURICH, SWITZERLAND / ACCESSWIRE / February 16, 2017 / Previous coverage on King's Bay Gold Corp. (TSX.V: KBG) noted that the year 2017 is poised to become a breakout year for cobalt prices. Having assembled a quality portfolio of 5 prospective cobalt exploration projects in Newfoundland and Québec, King's Bay has an early mover advantage in the cobalt space. Last week, King's Bay acquired 3 cobalt-copper properties in Québec, all of which provide an excellent opportunity to make a discovery by following up on promising historic exploration that did not include drilling. King's Bay also owns the Lynx Lake Copper-Cobalt Property in Newfoundland, where exploration will start soon to identify drill targets.\nToday, King's Bay announced the 100% acquisition of the North Trump Island Copper-Cobalt Property (2 km2), located 7 km south of Twillingate. CEO Kevin Bottomley commented: \"The Trump Island acquisition fits in\nwith our commitment to advancing high grade copper-cobalt properties in\nNewfoundland & Labrador. The fact that there has been historical mining\non the island adds a new dimension to our property portfolio.\" After a successful initial exploration program (sampling from the historic mine shaft, mapping and electromagnetics), King's Bay intends to start drilling on North Trump Island this summer.\nWhile there are dozens of buildings, businesses and ritzy resorts around the globe that carry the name of US President Trump, it's unlikely there's any connection between him and the Trump Islands, south of Twillingate in north-central Newfoundland and Labrador. A folklore professor from Memorial University, Philip Hiscock, has done the research but says origin is still a mystery. However, he believes that the most likely explanation is related to the discovery of a copper vein on North Trump Island, the reason why people started living there. \"If the name only appears once they discovered the copper, then trump also had a meeting of lucky find and a real kind of pay dirt kind of thing, a windfall, so it could be the people who started operating a copper mine … maybe they called it Trump because they were going to make a killing,\" said Hiscock. And they did, but only for 10 years, Hiscock said.\nThe full report can be...