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King's Bay Gold Signs Agreement with New Moon Minerals on High-Grade Gold Project, Saskatchewan
King's Bay Gold Signs Agreement with New Moon Minerals on High-Grade Gold Project, Saskatchewan
About this update from Lion Rock Resources Inc
[{"type":"text","content":"\nKing's Bay Gold Signs Agreement with New Moon Minerals on High-Grade Gold Project, Saskatchewan\n\n\n May 18, 2010 (TheNewswire.ca) -- May 18, 2010King's Bay Gold Corporation (TSX.V-KBG) is pleased to announce, subject to regulatoryapproval, that it has entered into an agreement with New Moon Minerals Corp. to acquirea 50% interest in the high-grade gold Berven Lake Project, located in the La Ronge Area, Saskatchewan.The Berven Lake ProjectThe Berven Lake project is located approximately 110 km northeast of La Ronge, Saskatchewan covering a portion of the La Ronge gold belt north of Dickens Lake along Highway 102. The project area comprises 4 claims (1480 hectares) covering historic high-grade gold showings discovered by SMDC (Cameco) during exploration programs between 1985 and 1990. The property is located in close proximity to the licensed Jolu Mill which is expected to commence processing gold in late 2010.During the summer of 1986 and 1987, the Berven Lake property was evaluated by aprospecting and sampling program which identified several gold showings which were thensubsequently trenched, sampled and diamond drilled. Of the 67 sulphide (pyrite, pyrrhotite, chalcopyrite) and magnetite bearing outcrops evaluated, eight gold showings were discovered.The rock sampling of the known trench areas indicates a correlation with cross-cutting orintersection areas of shear zones, especially when incorporated with mafic dykes and/ordiorite to graniodiorite intrusive rocks. The highest values were obtained from a shear withquartz and hornblende stringers, with pyrite and chalcopyrite. The higher golddeterminations appear to be associated with fine grained, dark, mafic minerals, likelyhornblende and biotite, pyrite and chalcopyrite mineralization within sheared dacite,andesite and graniodiorite.Of special interest is the Joey showing which consists of pyrite and associated non-visible gold mineralization within rusty, vuggy quartz veining that is hosted within a sheared sequence of andesites todacites and an adjacent small granodiorite plug. The granodiorite-hosted main mineralized quartz vein, which occurs in a 040° to 045° trending shear zone, dips 14°NW. Pyrite mineralization is also hosted within a smaller scale set of dacite-hosted quartz veins which trend 120°. The 120° trending veinsare controlled by a ...