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King's Bay Resources unveils initial sample results from Trump Island

The Vancouver-based explorer carried out a three-day reconnaissance program, collecting 15 samples

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Four of the 15 samples reported cobalt values of between 0.03% cobalt and 0.12% cobalt

King's Bay Resources Corporation (CVE:KBG) unveiled sample results from the first phase of exploration at the group's  Trump Island copper-cobalt project in Newfoundland.

The  Vancouver-based explorer carried out a three-day reconnaissance program, collecting 15 samples from outcrop.

Four of the 15 samples exceeded the upper detection limit of 1% copper and reported cobalt values of between 0.03% cobalt and 0.12% cobalt.

One sample was returned for ore grade analysis returning grades of 6.07% copper and 14.4 ppm (parts per million) silver, the firm said.

North Trump consists of eight mineral claims encompassing an area of 2 sq km and lies 7km south of the town of Twillingate, Newfoundland and Labrador.

The property is accessible by boat 1.5km east from the nearest boat launch at Tizzard's Harbour on NL Hwy 345.

The area has history.

In the mid 1860s a 6.1 meter shaft was sunk and at the bottom, it was reported that the mineralized zone expanded with depth but, due to limited technology, no further excavation could be safely continued.

Follow up grab sampling in 1999 by a local prospector showed mineralization assaying up to 3.80% copper, 0.30% Cobalt, 2.90 g/t (grams per ton) gold and 10.9 g/t (grams per ton) silver  near the old mine shaft. The property has not been drilled to date.

Shares closed in Toronto down around 4% to C$11.

Quick facts: King's Bay Gold Corp.

Price: 0.04 CAD

TSX-V:KBG
Market: TSX-V
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A perfect storm brewing for King's Bay Resources

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