Dec. 6, 2010 (TheNewswire.ca) --
King's Bay Gold Corporation (TSX.V: KBG) is pleased to announce high-grade gold intersections within a 12.1 foot (3.6 metre) interval that averaged 0.539 opt (18.47 g/t) in drill hole MIN-10-10. The analytical results have now been received for holes MIN-10-07 to MIN-10-10 of 16 holes completed which covers the Wagg Gold Occurrence on the Menary Twp. The property is located roughly fifteen kilometers northeast of the Richardson Twp. 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 drill project in June of this year. Results for holes MIN-10-01 to MIN010-06 were previously announced in September 21, 2010. King's Bay has now completed over 1900 metres at the Wagg Gold Occurrence located on the west central portion of the property. Work included linecutting/gridding, geological mapping, ground Mag, VLF-EM and diamond drilling over the southern part of the property. More claims have been staked on the northwest and northeastern sectors 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 impressive results where the quartz vein systems to intercepted in the drilling. Holes MIN-10-07 to MIN-10-10 all encountered elevated gold values, the most significant of which are summarized in the following table. Results for holes MIN-10-11 to MIN-10-16 will be released as soon as the intervening analytical results are received and the complete profile of these holes is determined.
----------------------------------------------------------- |DDH # |From (ft)|To (ft)|Length (ft)|Au (opt)|Au (g/t)| |---------------------------------------------------------| |MIN-10-10|13.2 |14.2 |1.0 |0.047 |1.614 | |---------------------------------------------------------| |MIN-10-10|14.2 |15.5 |1.3 |0.008 |0.291 | |---------------------------------------------------------| |MIN-10-10|15.5 |16.3 |0.8 |0.112 |3.835 | |---------------------------------------------------------| | | | | | | | |---------------------------------------------------------| |MIN-10-10|37.4 |38.7 |1.3 |0.523 |17.915 | |---------------------------------------------------------| |MIN-10-10|38.7 |40.2 |1.5 |1.361 |46.64 | |---------------------------------------------------------| |MIN-10-10|40.2 |41.2 |1 |1.118 |38.323 | |---------------------------------------------------------| |MIN-10-10|41.2 |42.2 |1 |0.011 |0.361 | |---------------------------------------------------------| |MIN-10-10|42.2 |43.2 |1 |0.231 |7.934 | |---------------------------------------------------------| |MIN-10-10|43.2 |45 |1.8 |0.108 |3.71 | |---------------------------------------------------------| |MIN-10-10|45 |46.1 |1.1 |0.009 |0.319 | |---------------------------------------------------------| |MIN-10-10|46.1 |47.1 |1 |0.02 |0.698 | |---------------------------------------------------------| |MIN-10-10|47.1 |48 |0.9 |0.029 |0.983 | |---------------------------------------------------------| |MIN-10-10|48 |48.8 |0.8 |1.679 |57.557 | |---------------------------------------------------------| |MIN-10-10|48.8 |49.5 |0.7 |0.541 |18.549 | -----------------------------------------------------------
The above analytical work has been done at an accredited Lab facility in Thunder Bay with half the drill cores sent in for analysis and the remainder being stored and archived for future testing of verification. All the drilling and field work has been supervised by our on-site geologist, Mr. Russell Crosby, MSc., P.Geo., acting as our Qualified Person (QP) as directed by the National Instrument 43-101.
About King's Bay Gold Corp
King's Bay Gold is unique in that it owns most of the equipment required to carry out various phases of exploration. The Corporation is a very active Canadian mineral exploration company.
KBG Shares Outstanding: 76,986,902
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 (TSXV:KBG) 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Copyright (c) 2010 Thenewswire.ca - All rights reserved.