Toronto, Ontario – July 26, 2021 – King Global Ventures Inc. (TSXV: KING) (OTC: KGLDF) (FSE: 5LM1) (the “Company” or “King”) is pleased to announce that it has become a member of Newfoundland.Gold, a strategic alliance of gold exploration and mining companies focused on the advancement of the mineral sector in Canada’s Newfoundland and Labrador province.
Newfoundland.Gold will launch its second Virtual Investor Day on August 19th, 2021 and King will be one of the member presenters. Newfoundland is experiencing a modern-day gold rush and is a top ranking exploration and mining jurisdiction.
Robert Dzisiak, Chief Executive Officer of King Global Ventures, stated: “We are pleased to become members of Newfoundland.Gold and to join a growing list of public companies operating projects in Newfoundland. The collective marketing alliance is bringing significant market awareness to the region and has done a superb job of promoting the significant exploration potential of the region.”
King Global’s projects include 100-per-cent interest in the following gold exploration projects:
- The Golden Nugget property consists of a 10-kilometre-long contiguous land package (1,850 hectares) 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 grams per tonne gold over 1.1 metres, 87 grams per tonne over 0.8 metres and 29.2 grams per tonne over 2.5 metres. These high-grade channels are contained within extensive areas of lower- to medium-grade gold values along the entire length of this 10-kilometre structural corridor.
- The Miss Pickle property (950 hectares), 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 grams per tonne gold over 2.05 metres, 8.3 grams per tonne gold over 1.9 metres and 7.1 grams per tonne gold over 1.2 metres. The length weighed average of 26 channel samples across the zone is 3.2 grams per tonne gold.
- The Gold Boulder prospect consists of four contiguous claim blocks (100 hectares) 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 side by New Found Gold Corp.
- The Chapel Island property (1,300 hectares) consists of 54 mining blocks located in northeast central Newfoundland, on Chapel Island within the Dunnage Tectonostratigraphic zone of the Appalachian orogen. The Road zone consists of four historical showings containing numerous Au occurrences. These occurrences have returned individual assay results up to 85 grams per tonne Au and 32 grams per tonne Au. Chapel Island also has historical nickel showings grab samples up to 3.05-per-cent Ni.
- The Lost Swamp showing comprises a silicified and carbonate altered Coaker porphyry that contains very, fine grained arsenopyrite, with assay results returning values up to 149.8 grams per tonne Au and 23.3 grams per tonne Au. At the Swamp zone, a total of 35 channel samples were cut for a combined length of 35.9 metres at eight different locations in the old trench. The best results from the sampling were 5.2 metres of 484 parts per billion Au and 0.9 metres of 3.9 grams per tonne Au.
About King Global Ventures Inc.
King Global Ventures holds 100-per-cent 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 per cent of King’s common shares.
On behalf of King Global Ventures
Chief Executive Officer