RE: NEWS.....2 m of 53 g/t AuHere is the news...MJO has only 19M shares out. It should be a good week.
King's Bay, Mainstream drill 2 m of 53 g/t Au at Bobjo
2009-06-08 18:37 ET - News Release
See News Release (C-KBG) King's Bay Gold Corp
Mr. John Archibald of King's Bay Gold reports
KING'S BAY GOLD / MAINSTREAM MINERALS RARE EARTH ELEMENTS AND GOLD DRILL RESULTS, BOBJO MINE PROJECT, RED LAKE, ONTARIO
King's Bay Gold Corp. and Mainstream Minerals Corp. have received the final rare earth elements and gold drill results from their phase 2 program at their Bobjo Mine project, located in Earngey and Agnew townships, Red Lake, Ont.
Phase 2 included five holes, holes No. 28 to No. 32 inclusive, in the vicinity of the high-grade gold discovery area, two holes in the rare earth elements discovery area and 10 exploratory holes two kilometres south at the bottom end of the property.
Hole No. 11-B was drilled approximately 100 metres east of the companies' high-grade gold discovery along a fault with a strike length of approximately 10 kilometres and included the discovery of significant zones of rare earth elements, iron, magnesium, manganese and others.
Hole No. 11-B -- dip minus 45 degrees
From 40.25 to 43.50 metres: 3.25 metres grading 22.66 grams per tonne scandium, 16.83 grams per tonne rubidium, 25.33 grams per tonne neodymium, 37.83 grams per tonne cerium, 5.16 grams per tonne hafnium, 17.83 grams per tonne yttrium, 11.83 grams per tonne lithium, 80.33 grams per tonne chromium, 18.33 grams per tonne lanthanum, 72 grams per tonne strontium, 1.15 grams per tonne terbium, 2.28 grams per tonne thorium, 3.81 grams per tonne ytterbium, 1.75 grams per tonne europium, 5.85 grams per tonne samarium, 57.16 grams per tonne vanadium, 1.215 per cent magnesium, 4.383 per cent calcium and 9.733 per cent iron.
From 59.25 to 65.75 metres: 6.5 metres grading 26.09 grams per tonne scandium, 17.81 grams per tonne neodymium, 19 grams per tonne cerium, 3.01 grams per tonne hafnium, 17.33 grams per tonne yttrium, 18.41 grams per tonne lithium, 47.72 grams per tonne chromium, 10.01 grams per tonne lanthanum, 82.75 grams per tonne strontium, 4.4 grams per tonne ytterbium, 2.42 grams per tonne europium, 4.42 grams per tonne samarium, 113.83 grams per tonne vanadium, 2.035 per cent magnesium, 0.402 per cent manganese, 5.617 per cent calcium and 17.201 per cent iron.
From 139.75 to 151.25 metres: 11.5 metres grading 28.56 grams per tonne scandium, 19.69 grams per tonne neodymium, 24.91 grams per tonne cerium, 4.01 grams per tonne hafnium, 12.15 grams per tonne yttrium, 9.69 grams per tonne lithium, 41.01 grams per tonne chromium, 11.73 grams per tonne lanthanum, 41.46 grams per tonne strontium, 4.1 grams per tonne ytterbium, 1.8 grams per tonne europium, 5.34 grams per tonne samarium, 98.3 grams per tonne vanadium, 136.57 grams per tonne thallium, 1.472 per cent magnesium, 0.282 per cent manganese, 6.015 per cent calcium and 13.617 per cent iron.
From 156.25 to 160.25 metres: four metres grading 32.88 grams per tonne scandium, 21.44 grams per tonne neodymium, 24.44 grams per tonne cerium, 4.02 grams per tonne hafnium, nine grams per tonne yttrium, 7.5 grams per tonne lithium, 51.33 grams per tonne chromium, 11.44 grams per tonne lanthanum, 45 grams per tonne strontium, 4.51 grams per tonne ytterbium, 1.75 grams per tonne europium, 4.83 grams per tonne samarium, 72.1 grams per tonne vanadium, 110.4 grams per tonne thallium, 1.644 per cent magnesium, 0.288 per cent manganese, 6.250 per cent calcium and 11.301 per cent iron.
From 167 to 171.25 metres: 4.25 metres grading 24.33 grams per tonne scandium, 17.33 grams per tonne neodymium, 20.44 grams per tonne cerium, 3.33 grams per tonne hafnium, 8.01 grams per tonne yttrium, 17 grams per tonne lithium, 132.11 grams per tonne chromium, 10.33 grams per tonne lanthanum, 40.11 grams per tonne strontium, 3.35 grams per tonne ytterbium, 1.21 grams per tonne europium, 4.01 grams per tonne samarium, 85 grams per tonne vanadium, 131.77 grams per tonne thallium, 2.094 per cent magnesium, 0.155 per cent manganese, 3.894 per cent calcium and 11.488 per cent iron.
Highlights from the six holes drilled to date that intersected rare earth elements, rare metals and other minerals included a high from hole No. 23 of: 54.25 metres grading 30.57 grams per tonne scandium, 5.01 grams per tonne rubidium, 15.31 grams per tonne neodymium, 26.23 grams per tonne cerium, 12.10 grams per tonne lithium, 5.01 grams per tonne samarium, 11.01 grams per tonne yttrium, 12.03 grams per tonne barium, 15.3 grams per tonne boron, 3.72 grams per tonne hafnium, 3.9 grams per tonne ytterbium, one grams per tonne thorium, 1.23 grams per tonne terbium, 10.51 grams per tonne lanthanum, two grams per tonne europium, 110.18 grams per tonne chromium, 109 grams per tonne vanadium, 55.11 grams per tonne strontium; 0.022 per cent zinc, 0.053 per cent phosphorus, 0.101 per cent titanium, 0.117 per cent manganese, 1.101 per cent magnesium, 5.21 per cent calcium and 13.27 per cent iron.
True widths are not known.
Detailed results from the six drill holes that intersected rare earth elements, rare metals and other minerals to date on this project can be seen on the Mainstream Minerals website.
Interval Interval Interval Au Hole Dip from to (m) (g/t)BJ08-28 -75 87.40 87.90 0.50 3.081 117.00 117.25 0.25 1.430 125.25 126.25 1.00 27.433 142.25 142.50 0.25 1.455 313.25 313.75 0.50 8.229 BJ08-29 -45 13.50 14.00 0.50 0.699 58.50 58.75 0.25 0.904 BJ08-30 -45 50.75 51.25 0.50 1.318 79.75 80.00 0.25 5.943 84.75 85.00 0.25 2.853 BJ08-31 -45 13.75 14.25 0.50 2.126 14.75 15.25 0.50 7.017 18.75 19.00 0.25 1.074 BJ08-32 -45 2.50 5.00 2.50 1.703including 4.50 5.00 0.50 4.030 6.75 7.25 0.50 1.770 8.25 9.25 1.00 1.463 9.75 10.25 0.50 4.294 13.25 13.75 0.50 1.058 18.25 18.75 0.50 3.469
Highlights from the 32 holes drilled by the partners to date at the high-grade gold discovery area included:
- 53.61 grams per tonne gold over 2.45 metres;
- 32.95 grams per tonne gold over 1.1 metres;
- 27.43 grams per tonne gold over one metre;
- 19.61 grams per tonne gold over two metres;
- 18.18 grams per tonne gold over 0.5 metre;
- 14.55 grams per tonne gold over one metre;
- 12.80 grams per tonne gold over 0.5 metre;
- 12.01 grams per tonne gold over 0.5 metre;
- 8.70 grams per tonne gold over 1.1 metres;
- 9.45 grams per tonne gold over one metre;
- 8.45 grams per tonne gold over 3.4 metres;
- 6.84 grams per tonne gold over one metre;
- 6.25 grams per tonne gold over 1.5 metres;
- 5.77 grams per tonne gold over three metres.
Detailed gold results of all thirty two holes drilled by the partners to date can be seen on the Mainstream Minerals website.
The partners drilled 10 exploratory holes two kilometres south of the main discovery area at the bottom end of the property. All 10 holes intersected wide zones of anomalous platinum values. This area will need to be investigated further.
The 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. The joint venture is 50 per cent Kings Bay Gold and 50 per cent Mainstream Minerals, with Mainstream Minerals being the operator of the project.
Dr. Andrew Gracie, PhD, PEng, PGeo, is the qualified person under National Instrument 43-101. All of the samples herein were analyzed by Acurassay Labs using the neutron activation method and acqua regia digestion with an ICPAES finish and standard fire assay for gold. True widths are not known.
The partners are pleased with the progress made to date at this project and with the fact that drilling has so far intersected gold in 27 out of 32 holes from surface to a depth of 312 metres so far, which included high-grade gold in many intersections. All zones are open at depth and in all directions. The rare earth elements, rare metals and other minerals were a surprise on this gold project and will definitely need some follow up drilling.
Most of the veins tested so far ran in an east-west direction. The area just north of the high-grade gold discovery is also host to many other quartz veins that have not been tested as of yet, including a two-metre-wide quartz vein than is running in a north-south direction. Grab samples from this vein yielded results as high as 115 grams per tonne gold.
The partners are planning an aggressive phase 3 exploration program for this exciting project in the near future and are planning to commence a financing very shortly.