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King's Bay Gold Discovers New High-Grade Gold Zone at Bobjo Mine Project, South Bay Area, Red Lake
April 23, 2008- King's Bay Gold Corporation (TSX.V: KBG) and Mainstream Minerals Corporation (TSX...
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[{"type":"text","content":"King's Bay Gold Discovers New High-Grade Gold Zone at Bobjo Mine Project, South Bay Area, Red Lake\n\n\nApril 23, 2008- King's Bay Gold Corporation (TSX.V: KBG) and Mainstream Minerals Corporation (TSX.V-MJO) are pleased to announce that high grade gold intervals characteristic of a Red Lake vein type deposit have been intersected in Hole 25 at their joint-venture Bobjo Mine project, located in Earngey and Agnew Townships, Red Lake, Ontario.\n\nResults Confirm Extension of Zones and Confirms Depth Extension\n\nThis project continues to be the site of new discoveries that so far included high-grade gold, strategic rare metals and rare earth elements. The partners are now pleased to report the discovery of a new high-grade gold zone located approximately 150 metres South of the main zones at a depth of 291.0 to 293.0 metres. The results extend existing mineralized zones and confirm depth extension.\n\nHole # 25 Interval From Interval To Interval Metres Au (g/T) \n 1.50 4.50 3.00 5.77 \nIncl. 1.50 2.50 1.00 14.55 \n 241.50 242.20 0.70 1.94 \n 291.00 293.00 2.00 19.61 \nIncl. 292.00 293.00 1.00 43.73 \nAnd 292.50 293.00 0.50 79.31 \n\nThe partners are also pleased to report that a third drill rig is now at work at this Bobjo project. A large 15,000 metre drilling program is well underway and more assay results will be announced very shortly when received and verified.\n\nThis Bobjo Mine project is located between the former South Bay Zinc / Copper Mine and Uchi Lake Gold Mine. It is noted that an existing power line passes through the southern part of the property and that it is within trucking distance to the Placer Dome / Goldcorp Mill in Red Lake, Ontario. It is comprised of 259 claim units totaling 10,360 acres. The area has a history of gold and base metal production dating back 80 years. The work presently being carried out by the partners represents the commencement of the first modern, systematic exploration of the property in the last 80 years when a two compartment shaft was sunk to 270 feet with two levels in 1929.\n\nThe partners are very pleased with the results of the holes reported to date on this Bobjo Mine Project. All zones are open in all directions and at depth. Included in the following table are the results of all holes received to date by the partners at this Bobjo Mine Project:\n\nHole Dip Interval From Inter...