Business
King's Bay Gold Commences Drilling Program at Phyllis Lake, Now Drilling Three Projects
(via Thenewswire.ca)
About this update from Lion Rock Resources Inc
[{"type":"text","content":"King's Bay Gold Commences Drilling Program at Phyllis Lake, Now Drilling Three Projects\n\n(via Thenewswire.ca)\nJuly 24 2008 - King's Bay Gold Corporation (TSX.V: KBG) and Mainstream Minerals Corporation (TSX.V: MJO) are pleased to announce that a Phase 1 diamond drill program has commenced at their joint-ventured Phyllis Lake Project located near Ignace, Ontario.\n\nSummary of the Phyllis Lake Project\n\nThe Phyllis Lake high-grade Molybdenum / Copper / Cobalt Project is comprised of 12 claims totalling 64 claim units (2,560 acres) and is located near the Town of Ignace, Ontario. The property is accessible via the TransCanada Highway and a logging road.\n\nThe companies have also decided to increase their land position in the area and are in the process of staking more claims immediately adjacent to the existing land package.\n\nSurface sampling of this project has yielded results as high as:\n\n0.690 % Molybdenum (Mo), 2.192 % Copper (Cu), 0.415 % Cobalt (Co), 0.393 % Nickel (Ni), 0.100 % Zinc (Zn), 9.60 g/t Silver (Ag), 2.81 g/t Gold (Au), 2.50 g/t Palladium (Pd) and 1.20 g/t Platinum (Pt). A 3 metre channel sample from a zone with a strike length of approximately 500 metres returned high-grade values of 0.677 % Molybdenum.\n\nThe partners are excited with the commencement of a 3,000 metre Phase 1 diamond drilling program at this project which is host to numerous minerals. King's Bay Gold is extremely pleased with the fact that it is presently drilling three projects at this time and the company feels it has an excellent chance at exploration success this year.\n\nProjects Currently Being Drilled\n\n1) 15,000 metre Phase 2 diamond drilling program at the Bobjo Mine Project; 2) 10,000 metre Phase 1 diamond drilling program at the Sakoose Gold Mine Project; and 3) the commencement of a 3,000 metre Phase 1 diamond drilling program at this Phyllis Lake Project.\n\nAndrew Gracie, Ph.D, P.Eng, P.Geo is the Qualified Person under National Instrument 43-101 for the Phyllis Lake Project.\n\nAbout Kings Bay Gold\n\nKing's Bay Gold is unique in the industry in that it owns most of the equipment required to carry out the various phases of exploration. This includes diamond drills, bulldozers and other exploration equipment, which gives the company the ability to quickly adjust work programs as exploration results are realized and compan...