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Tuesday, 9th May 2006 (5115 views)

Canadian mineral exploration firm King's Bay Gold has found a significant amount of gold at a site in north-western Ontario.

The North Rock property, which is some 25km east of Fort Frances, has yielded 0.085 g/t of Gold in a grab sample.

Included in the finds were high levels of Aluminium (7.88 per cent) as well as smaller levels of copper, platinum and zinc.

The discoveries have prompted the firm to transfer a diamond drill rig from its Red Lake site to Fort Frances with the first extraction programme set to begin in the coming days.

The area could be set to become a major centre for mineral extraction and the proximity of the Trans Canada Highway 11 and the CN Railway can only be good for the distribution of the minerals and for future investment.

The finds have come to light following an aerial survey of the site's 16,440 acres, of which King's Bay Gold has complete ownership.

 

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