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King's Bay Gold Corp.
Summary
| Project: | Lynx Lake | |
|---|---|---|
| Deposit: | Lynx Lake | |
| Location: | Canada | |
| Commodities: | Copper-Cobalt | |
| Date: | 12/22/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 22-12-2016: King's Bay Gold Corp. announces a Supporting Acquisition report for its Lynx Lake deposit at the Lynx Lake project. Summary of property in support of acquisition. The Lynx Lake Property located approximately 134 km south and east by all-weathe | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Edward Lyons (Tekhne Research Inc.) | |
| ABSTRACT: | The Lynx Lake Property located approximately 134 km south and east by all-weather highway from Happy Valley-Goose Bay, the regional centre for Labrador, Canada. Highway 510, the only main year-round road in southeastern Labrador, passes through the north-central part of the Property. The Property consists of 13 Mineral Licenses comprised of 959 on-line staked mineral claims of 25 hectares each for a total area of 23,975 ha (239.75 km2 ). The mineral rights apply to minerals hosted in the bedrock directly beneath the claim boundaries. On 27 October 2016, King’s Bay Gold Corporation (TSXV-KBG) (the "Issuer”) announced that it has entered into an agreement dated 4 October, 2016 with Crooks Lake Holdings Ltd ("CLHL"), Cameron Martin, and Jeffrey Martin, jointly the Vendor (the “Vendor”), to acquire 100% interest in the Lynx Lake Property (formerly named Crooks Lake Property) located in southeastern Labrador, Canada. Under the terms of the Agreement, and subject to the approval of the TSX Venture Exchange (the “Exchange”), the Issuer will acquire 100% interest and rights in the property by paying the Vendor an aggregate of C$100,000 in cash, $10,000 being payable upon the signing of the Agreement with C$30,000 payable on each of the three subsequent anniversaries of the Agreement. | |
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