Jan. 11, 2011 (TheNewswire.ca) --
King's Bay Gold Corporation (TSX.V: KBG) is pleased to announce further high-grade gold intersections within a 20.5 foot (6.25 metre) interval that averaged 0.357 opt (12.23 g/t) in drill hole MIN-10-11. Four other smaller and lower grade zones were also intersected. Sixteen holes were drilled this year covering the Wagg Gold Occurrence on the Menary Twp. Property. The occurrence is located roughly fifteen kilometers northeast of the Richardson Township Project owned by Rainy River Resources (TSXV:RR) and within 12 kilometres of the new discovery by Bayfield Ventures Corp. (TSXV:BYV) (TSX.V: BYV). The property is also adjacent to and along strike to the Rainy River Resources (TSX.V: RR) drilling that is presently being conducted on its Off Lake Gold Project.
King's Bay began its drilling on the Menary property in June of this year. Work included line-cutting / gridding, geological mapping, ground Magnetics, VLF-EM, land acquisition via staking and diamond drilling over the several portions of the property. The staking included land that ties on to the main group of claims in order to cover additional geological structures that appear to tie on to the Galbraith ‘A' and ‘B' Gold Occurrences.
Diamond drilling over the Wagg Occurrence has produced some good results. Results for hole MIN-10-11 are shown in the table below with further analyses to be released as soon as additional results are received. True widths are not known.
----------------------------------------------------------- |DDH No. |From (ft)|To (ft)|Length (ft)|Au (opt)|Au (g/t)| |---------------------------------------------------------| |MIN-10-11|5.6 |6.6 |1.0 |0.024 |0.825 | |---------------------------------------------------------| |MIN-10-11|6.6 |7.6 |1.0 |0.02 |0.677 | |---------------------------------------------------------| |MIN-10-11|7.6 |8.6 |1.0 |0.148 |5.078 | |---------------------------------------------------------| |MIN-10-11|8.6 |10.0 |1.4 |0.037 |1.269 | |---------------------------------------------------------| |MIN-10-11|10.0 |11.0 |1.0 |0.013 |0.430 | |---------------------------------------------------------| |MIN-10-11|40.0 |41.0 |1.0 |0.005 |0.183 | |---------------------------------------------------------| |MIN-10-11|41.0 |42.0 |1.0 |0.07 |2.402 | |---------------------------------------------------------| |MIN-10-11|42.0 |43.5 |1.5 |0.002 |0.071 | |---------------------------------------------------------| |MIN-10-11|43.5 |44.5 |1.0 |0.004 |0.133 | |---------------------------------------------------------| | | | | | | | |---------------------------------------------------------| |MIN-10-11|49.7 |51.0 |1.3 |0.069 |2.376 | |---------------------------------------------------------| |MIN-10-11|51.0 |52.0 |1.0 |0.004 |0.135 | |---------------------------------------------------------| |MIN-10-11|52.0 |54.0 |2.0 |0.003 |0.117 | |---------------------------------------------------------| | | | | | | | |---------------------------------------------------------| |MIN-10-11|202.0 |204.0 |2.0 |0.003 |0.111 | |---------------------------------------------------------| |MIN-10-11|204.0 |206.0 |2.0 |0.003 |0.091 | |---------------------------------------------------------| |MIN-10-11|206.0 |207.0 |1.0 |0.005 |0.185 | |---------------------------------------------------------| |MIN-10-11|207.0 |208.3 |1.3 |0.006 |0.219 | |---------------------------------------------------------| |MIN-10-11|208.3 |208.8 |0.5 |4.129 |141.527 | |---------------------------------------------------------| |MIN-10-11|208.8 |209.8 |1.0 |0.036 |1.222 | |---------------------------------------------------------| |MIN-10-11|209.8 |210.5 |0.7 |0.111 |3.809 | |---------------------------------------------------------| |MIN-10-11|210.5 |211.6 |1.1 |0.018 |0.612 | |---------------------------------------------------------| |MIN-10-11|211.6 |212.6 |1.0 |0.007 |0.243 | |---------------------------------------------------------| |MIN-10-11|212.6 |214.1 |1.5 |0.01 |0.339 | |---------------------------------------------------------| |MIN-10-11|214.1 |215.1 |1.0 |0.001 |0.045 | |---------------------------------------------------------| |MIN-10-11|215.1 |216.2 |1.1 |0.003 |0.088 | |---------------------------------------------------------| |MIN-10-11|216.2 |217.5 |1.3 |0.003 |0.116 | |---------------------------------------------------------| |MIN-10-11|217.5 |219.2 |1.7 |2.775 |95.111 | |---------------------------------------------------------| |MIN-10-11|219.2 |220.5 |1.3 |0.251 |8.598 | |---------------------------------------------------------| |MIN-10-11|220.5 |221.5 |1.0 |0.002 |0.075 | |---------------------------------------------------------| |MIN-10-11|221.5 |222.5 |1.0 |0.013 |0.432 | |---------------------------------------------------------| | | | | | | | |---------------------------------------------------------| |MIN-10-11|240.7 |241.5 |0.8 |0.023 |0.774 | -----------------------------------------------------------
The above analytical work has been done at an accredited laboratory facility in Thunder Bay using the fire assay method. Half of the drill cores were sent in for analysis and the remainder are being stored and archived for future testing or verification. All the drilling and field work has been supervised by the company's on-site geologist, Mr. Russell Crosby, MSc., P.Geo., acting as our Qualified Person (QP) as directed by the NI 43-101 Guidelines.
About King's Bay Gold Corporation (TSXV:KBG)
King's Bay Gold Corporation is a very active Canadian mineral exploration and development company with mineral projects located in two of Canada's main gold camps - the Red Lake, ON and Rainy River, ON gold camps.
KBG Shares Outstanding: 84,986,902
King's Bay Gold Corporation
John Archibald
President & CEO
info@kingsbaygold.com
www.kingsbaygold.com
This news release includes certain forward-looking statements concerning the future performance of King's Bay Gold Corporation's business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. Forward-looking statements are frequently identified by such words as "may", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. These forward-looking statements represent management's best judgment based on current facts and assumptions that management considers reasonable. The Company makes no representation that reasonable business people in possession of the same information would reach the same conclusions. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing and as described in more detail in the Company's recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking statements and readers are cautioned against placing undue reliance thereon.
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