King's Bay Gold set to commence a 10,000 metre dri
King's Bay Gold set to commence a 10,000 metre drill program at the Sakoose Gold Mine
May 07, 2008 (TheNewswire.ca via COMTEX News Network) --
King's Bay Gold Corporation
www.kingsbaygold.com
(204) 253-4653
TSX.V: KBG
King's Bay Gold set to commence a 10,000 metre drill program at the Sakoose Gold Mine
May 07, 2008
King's Bay Gold Corporation (TSX.V: KBG) is pleased to announce that a 10,000 metre diamond drill program is set to commence within the next five days at its 100% owned Sakoose Gold Mine Project located in Melgund Township, near Dryden, Ontario.
The Sakoose Gold Mine produced gold between 1897 and 1902, until a fire destroyed the mill and operations were consequently suspended. During those five years, Sakoose was only mined to a depth of approximately 60 metres. Furthermore, since then, the property has only seen limited exploration, and all the drill holes to date have been shallow.
The property comprises 6 claims totaling 19 claim units (approximately 760 acres), with excellent access via a 6 km gravel road leading south from Borups Corners on the Trans Canada Highway. The Canadian Pacific Railway, a natural gas pipeline and a hydro-electric power grid all pass within approximately 6 km of the property.
King's Bay is excited by this imminent start to its Phase 1 diamond drilling program at Sakoose, and looks forward to broader and deeper exploration of the old gold mine using new technologies. John Archibald, P. Geologist is the Qualified Person under National Instrument 43-101.
Bobjo Mine, Red Lake
The Company is also presently conducting a 15,000 metre Phase 2 drilling program using three diamond drills at its Bobjo Mine Project in Red Lake, Ontario, a joint venture of King's Bay Gold (TSX.V-KBG) and Mainstream Minerals (TSX.V-MJO). This project continues to be the site of new discoveries, which already include high-grade gold, strategic rare metals and rare earth elements. Additional assay results are expected very shortly, and will be released upon receipt and verification.
The Company is pleased with the progress and potential of these two properties, both of which were host to past producing gold mines and where most of the zones are open in all directions. The Company feels that by aggressively exploring these two past producers there is an excellent chance of significant exploration success this year. Updates and results will follow as things progress.
About Kings Bay Gold
King's Bay Gold is unique in the industry in that it owns most of the equipment required to carry out the various phases of exploration. This includes diamond drills, bulldozers and other exploration equipment, which gives the company the ability to quickly adjust work programs as exploration results are realized and company strategies change. The Corporation is a very active and well financed Canadian mineral exploration company with mineral projects strategically located in Canada's gold camps. Strategic properties include - (i) a property located directly adjacent to Canada's richest gold mine, (ii) two past producing gold mines, and (iii) other locations that are in very close proximity to either past producers and / or recent discoveries.
King's Bay Gold Corporation Richard Rivet President & CEO (204) 253-4653info@kingsbaygold.comwww.kingsbaygold.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe KBG's future plans, objectives or goals, including words to the effect that KBG or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties.
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