This Junior Miner Is Following the Trend To The Next Gold Mine

This Junior Miner Is Following the Trend To The Next Gold Mine

By: Tomas Ronolski - AllPennyStocks.com News

Tuesday, May 17, 2022

Professional geoscientists, or P.Geo’s, are rock doctors, complete with their own nomenclature that laymen don’t understand and giddiness interpreting the end-product of millions of years of terrane collision and attendant metamorphism and magmatism. Without these experts, mining wouldn’t be where it is today, as P.Geo’s are instrumental in understanding the correlation between faults, fractures in rocks that allow them to move relative to each other, and gold deposits, like that of Cape Ray in central Newfoundland that is home to three producing mines.

For all intents and purposes, it appears that more mines are in the future of the fault and, more broadly, the Gander Gold Belt that billionaire investor Eric Sprott believes could represent that world’s greatest gold discovery ever. Sprott has exposure to the area through investments in King Global Ventures Inc. (TSX-Venture: KING) (OTC: KGLDF) and New Found Gold (NYSE American: NFGC) (TSX-Venture: NFG).

The Cape Ray fault is approximately 500 kilometers long and described as a large-scale shear zone, rather than the result of intercontinental collision. The role which faults play in gold production is well-known, as the rock’s movement helps release gold from deep in the Earth. To date, the Cape Ray fault remains largely underexplored, but what has been explored and reported is nothing shy of impressive.

The most well-known is Marathon Gold’s (OTCQX: MGDPF) (TSX: MOZ) Cape Ray mine that hosts 4.8 million ounces of gold in a series of open pits that Marathon describes as a “string of pearls.” The largest single deposit is 2 million ounces.

Australia’s Metador Mining (ASX: MZZ) is in early stages of exploration at its project along the Cape Ray fault with a similar type of mineralization pattern. 840,000 ounces of gold are spread out across three open pits.

Following the fault’s trend, Marathon has its Valentine project, a series of mineralized deposits along a 20-kilometer trend with Proven and Probable mineral reserves of 2.05 million ounces of gold, Measured and Indicated mineral resources of 3.14 million ounces of gold and Inferred mineral resources of 1.64 million ounces of gold. A 2021 Feasibility Study outlined an open pit mining and conventional milling operation over a thirteen-year mine life with a 31.5% after-tax rate of return and an average gold production profile of 173,000 ounces of gold per year for the first 9 years.

Keep following the trend and you’ll find Teck’s (NYSE: TECK) (TSX: TECK.B) Duck Pond mine, Newfoundland’s largest underground mine with open pit operations also that was shuttered in 2016, and then Sokoman Minerals’ (TSX-Venture: SIC) (OTCQX: SICNF) Moosehead project that has repeatedly demonstrated high-grade gold at shallow depths.

Located just off to the east is New Found Gold’s coveted Queensway project. King also has highly prospective land there with its Gold Boulder project completely surrounded by the Queensway project.

If the string of pearls mantra holds true, King could be sitting on a veritable gold pile. The company has three projects – Miss Pickle, Gold Nugget, and Chapel Island – located on the Cape Ray fault. The company is initially focusing its efforts on Miss Pickle and Gold Nugget. Historical grab samples at Miss Pickle included returns of 7.3 g/t gold over 2.05 meters, 8.3 g/t gold over 1.9 meters and 7.1 g/t gold over 1.2 meters. The length weighed average of 26 channel samples across the zone is 3.2 g/t gold.

High-grade gold occurs at Golden Nugget, as evidenced by channel samples having returned values of 50.2 g/t gold over 1.1 meters, 87 g/t over 0.8 meters and 29.2 g/t over 2.5 meters.

These projects are neighbors to Prospect Minerals Toogood gold project, which has gained fame for its bonanza-grade results.

King is actively exploring its properties, with a Multi-Parameter Airborne Geophysics Survey (M-PASS) completed by GoldSpot Discoveries this month. GoldSpot is on the leading edge of mining technology, using a combination of machines to aggregate data from a helicopter and then analyzing the data with its proprietary Artificial Intelligence software to better inform the next exploration targets.

Furthermore, King has engaged a drilling contractor and is simply awaiting approval from Newfoundland regulators to launch a drill program to test targets at Miss Pickle and Golden Nugget.

Shares of KING traded as low as 3.5 cents late in April and have since risen to 4.5 cents, suggesting some momentum is building as the projects advance and excitement builds as more investors start to understand the potential of the Cape Ray fault to emerge as a series of world class gold deposits.

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King Global Ventures Inc. (TSX-Venture: KING) (OTC: KGLDF) Full Corporate Write-Up: Click Here.

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