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King's Bay Gold Corporation acquires the Galbraith B Gold Occurrence via an Option Agreement that adds 1,280 acres to the Menary Gold Project as located in the Rainy River Greenstone Belt
(via Thenewswire.ca) May 7th, 2012 - Winnipeg, MB - King's Bay Gold Corporation (TSX.V: KBG...
About this update from Lion Rock Resources Inc
[{"type":"text","content":"\nKing's Bay Gold Corporation acquires the Galbraith B Gold Occurrence via an Option Agreement that adds 1,280 acres to the Menary Gold Project as located in the Rainy River Greenstone Belt\n\n(via Thenewswire.ca)\n\n \nMay 7th, 2012 - Winnipeg, MB - King's Bay Gold Corporation (TSX.V:\nKBG) (the \"Corporation\" or \"King's Bay Gold\") is\npleased to announce the acquisition of the Galbraith B gold occurrence\nvia an option agreement. The two new claim blocks of 16 units each\ncover approximately 1,280 acres (or approximately 518 hectares) and\nsit to the southeast of, and are contiguous to, the existing Menary\nGold Project claim group as located in the Townships of Menary,\nClaxton, McClarty and Senn in the Kenora Mining Division of\nnorth-western Ontario. The overall project now consists of 18 claims\nfor approximately 5,900 acres (or approximately 1,728 hectares) in a\nsingle contiguous land package. The claim units are located\napproximately 20 kilometres southeast of the Town of Nestor Falls,\nOntario and can be accessed along Road 404, east of Highway 71 which\nruns between Kenora and Fort Frances, Ontario. The project is located\nroughly 15 kilometers northeast of the Richardson Township Project\nowned by Rainy River Resources Limited (TSX.V: RR) and within 12\nkilometres of the recent discovery by Bayfield Ventures Corp. (TSX.V:\nBYV). The property is adjacent to and along strike to the Rainy River\nResources Limited drilling that has been conducted on their Off Lake\nGold Project. The Corporation expended a total of $518,639 in 2010 and\na total of $587,319 in 2011 on the exploration and development of this\nproject.\n\n\n \nGalbraith B gold occurrence is located within the westernmost of the\ntwo newly optioned claims and is approximately 200 metres to the east\nfrom the claim line of the original group. The narrow vein / stringer\nin the greenstone unit within which native gold was observed at\nGalbraith B assayed 97.5 g/t (2.859 opt) and 63.70 g/t (1.868 oz./ton)\ngold from grab samples obtained in 1991 by Western Troy Capital\nResources Inc. (Wagg and Holmstead, 1991). Another grab sample\ncollected in 1991 from a 1 metre wide, weakly sheared zone hosting\nseveral narrow quartz stringers (sample number 17829) located about\n350 metres south-southeast of the Galbraith B, assayed 1.146 g/t\n(0.033 oz/ton) gold. Many ...