King reports overall channel sampling of 0.39 g/t Au over 54 m, including 0.96 g/t Au over 7.5 m on the Miss Pickle Property
Toronto, Ontario — November 16, 2021 – King Global Ventures Inc. (TSXV: KING) (OTC Pink: KGLDF) (FSE: 5LM1) (the “Company“) is pleased to report results from the summer work program on its properties in Central Newfoundland. The significant length of the gold bearing channel sampling on the Miss Pickle property (0.39 g/t Au over 54 m) and the gold bearing intercepts (0.96 g/t Au over 7.5 m and 0.56 g/t Au over 30.5 m) provides a significant gold mineralization target for a follow up drill program on the property. These results are from a new gold zone that was not previously explored and is open in all direction on the Miss Pickle Island.
Highlights of the summer program include:
|108 Channel samples collected||Overall grade of 0.39 g/t Au over 54 m|
|Including 0.56 g/t Au over 30.5 m|
|Including 0.96 g/t Au over 7.5 m|
|1122 Soil Samples||48 samples > 0.1 g/t Au and 2 samples > 0.8 g/t Au|
|5 Channel Samples||29.0 g/t Au over 0.55m|
|26.9 g/t Au over 0.5 m|
|1.69 g/t Au over 0.6 m|
|1.81 g/t Au over 0.8 m|
|1.41 g/t Au over 0.6 m|
|116 Grab Samples||8 samples up to 2.64 g/t Au|
|470 Soil Samples||16 samples > 0.1 g/t Au and 1 sample each of 2.55 g/t Au, 0.36 g/t Au and 0.11 g/t Au|
|695 Soil Samples||3 soils samples between 0.3 and 0.41 g/t Au|
|2 soil samples between 0.2 and 0.3 g/t Au|
|1 soil samples up to 0.2 g/t Au|
|7 soil samples between 0.05 to 0.1 g/t Au|
|16 soil samples between 0.02 and 0.05 g/t Au|
|Grab Samples||3 grab samples up to 5.2 g/t Au|
Robert Dzisiak, CEO of King stated: “The results from our summer work program supplement the prospective potential of our properties in central Newfoundland. The significant length and mineralization of the channel sampling on the new zone on Miss Pickle Island, along with the additional channel sampling on the Big Oz showing on the Golden Nugget property (historical 87 g/t Au over 0.8 m) provides King with 2 high value targets for a subsequent drilling program. This is in addition to the 17 drill targets identified by Rubicon Minerals in 2004.”
Figure 1: King Global’s Golden Nugget and Miss Pickle Project Locations
Figure 2: Channel Sampling new gold trend on Miss Pickle Island
Figure 3: Channel Sampling new gold trend on Miss Pickle Island
Figure 4: Drone footage of newly discovered trend on the Miss Pickle Project:
Please click here to view. ( https://kingtsxv.com/projects/newfoundland/miss-pickle-project/miss-pickle-footage/ )
King Global’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 (NFG-TSX) high grade Queensway project. The entire prospect is bound on all side by New Found Gold Corp.
The Chapel Island Property (1,300 ha) consists of 54 mining blocks located in north-east central Newfoundland, on Chapel Island within the Dunnage Tectonostratigraphic zone of the Appalachian Orogen. The Road zone consists of 4 historical showings containing numerous Au occurrences. These occurrences have returned individual assay results up to 85 g/t Au and 32 g/t Au. Chapel Island also has historical nickel showings grab samples up to 3.05% Ni.
The Lost Swamp showing is comprised of a silicified and carbonate altered Coaker porphyry that contains very, fine grained arsenopyrite, with assay results returning values up to 149.8 g/t Au and 23.3 g/t Au. At the Swamp zone, a total of 35 channel samples were cut for a combined length of 35.9 m at 8 different locations in the old trench. The best results from the sampling were 5.2 m of 484 ppb Au and 0.9 m of 3.9 g/t Au.
About King Global Ventures
King Global Ventures Inc. (TSX-V: KING) holds 100% interest in four highly prospective and previously explored gold exploration projects in the Gander Gold Belt Region of Newfoundland, Canada. King is supported by strategic investor Eric Sprott who owns approximately 11.2% of King’s common shares.
Additional information about King Ventures can be viewed at the Company’s website at www.kingtsxv.com or at www.sedar.com.
On behalf of King Global Ventures
Chief Executive Officer
The technical contents of this news release were approved by John F. Cook, MIMMM, a qualified person as defined by National Instrument 43-101.
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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.
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