- Spring exploration program to commence immediately
- 100% owned Gold Nugget, Miss Pickle and Gold Boulder properties are in Canada’s newest high-grade district
- The district has historical high grade, near surface discoveries
Toronto, Ontario- May 25, 2021 – King Global Ventures Inc. (TSXV: KING) (OTC Pink: KGLDF) (FSE: 5LM1) (the “Company” or “King”) is pleased to announce that it has mobilized to immediately begin a spring exploration program on its 100% owned Gold Nugget, Miss Pickle and Gold Boulder properties in Newfoundland. The program will include surface fieldwork to build on previous, encouraging historical exploration on the properties. The work program on Gold Nugget and Miss Pickle will focus on extending historical high grade channel sampling, grab samples, and soil sampling and analysis. Work on the Gold Boulder property will entail soil sampling of the entire property and further grab sampling.
John Cook, Chief Executive Officer of King Global Ventures, stated: “We are pleased to mobilize our team to support our spring exploration program on our Newfoundland properties. Historical work on the properties is highly prospective and we look forward to using the current exploration program to better ascertain potential drill targets for the next phase of exploration.”
King’s projects include 100% interest in the following gold exploration projects:
The Golden Nugget Property consists of a 10 km long contiguous land package (1,850 ha.) of siliciclastic sediments within beds of conglomerates and mafic materials. High grade gold occurs in all rock groups with channel samples having returned values of 50.2 g/t gold over 1.1 m, 87 g/t over 0.8 m and 29.2 g/t over 2.5 m. These high grade channels are contained within extensive areas of lower to medium grade gold values along the entire length of this 10 km structural corridor.
The Miss Pickle Property (950 ha) is also north of the Davidsville Group and lies in another parallel structure to the Gold Nugget Property known as the Coaker Trend. Historical grab samples include 7.3 g/t gold over 2.05 m, 8.3 g/t gold over 1.9 m and 7.1 g/t gold over 1.2 m. The length weighed average of 26 channel samples across the zone is 3.2 g/t gold.
The Gold Boulder Prospect consists of four contiguous claim blocks (100 ha) and is located near the small town of Glenwood in Central Newfoundland. Geologically the property is underlain by siliciclastic sediments of the Davidsville Group which is the same geological belt which hosts New Found Gold’s high grade Queensway project. The entire prospect is bound on all sides by New Found Gold Corp.
The technical contents of this news release were approved by John F. Cook, MIMMM, a qualified person as defined by National Instrument 43-101
Cautionary and Forward-Looking Statements
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Certain information in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including but not limited to, the uncertainty of the financing, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals. Readers are cautioned that the assumptions used in preparing such information, although considered reasonable at the time of preparation, may prove imprecise and undue reliance should not be placed on forward-looking statements. Forward-looking statements in this press release are expressly qualified by this cautionary statement.
The forward-looking statements in this press release are made as of the date of this press release, and the Company undertakes no obligations to update publicly or to revise any of the included forward-looking statements, whether because of new information, future events or otherwise, except as expressly required by applicable securities law.