Issue link: http://resourceworld.uberflip.com/i/807573
26 www.resourceworld.com A P R I L / M A Y 2 0 1 7 approval from the TSX Venture Exchange for its Qualifying Transaction for the acquisition of 100% of the King's Point property, Newfoundland. Located in the Green Bay area, the 3,225-hectare claim group is two separate blocks (North and South) hosting numerous mesothermal gold and Buchans-type VMS exploration targets in an established precious and base metal mineral belt. Kings Bay Gold Corp. [KBG-TSXV] is conducting a 382 line-km, helicopter- borne VTEM™ geophysical survey over its 100%-owned Lynx Lake copper-cobalt project in southeast Labrador. Historic grab sampling returned up to 1.39% cop- per, 0.94% cobalt, 0.21% nickel and 6.5 g/t silver. King's Bay has also agreed to acquire a 100% interest in the North Trump Island copper-cobalt property in north-central Newfoundland where this past producer had samples of up to 3.80% copper, 0.30% cobalt, 2.90 g/t gold and 10.9 g/t silver. Labrador Iron Ore Royalty Corp.'s [LIF-TSX] Iron Ore Company of Canada (IOC) will proceed with the develop- ment of the Wabush 3 pit at its mine near Labrador City, Newfoundland and Labrador, following the approval of a $79 million investment. Wabush 3 is a new pit that will be developed within IOC's exist- ing mine operations to extend the life of the mine, reduce operating costs, and increase production of quality grade iron ore concentrate and pellets. Manganese X Energy Corp. [MN-TSXV] released assays from the recently com- pleted diamond drill program at its Houlton Woodstock manganese prop- erty 5 km northwest of Woodstock, New Brunswick. Drilling consisted of 16 holes totaling 3,589 metres and was designed as an initial evaluation of three historical manganese occurrences on the property (Iron Ore Hill, Sharpe Farm and Moody Hill). In addition, the drill program pro- vides core samples for metallurgical testing, planned for 2017. The drilling confirmed significant widths of near-sur- face manganese mineralization over a strike length of about 1.5 km. Intersection widths of up to 87.7 metres and manganese oxide grades of up to 21.5% were encoun- tered. Mineralization is open to depth and along strike. Marathon Gold Corp. [MOZ-TSXV] announced continued drilling suc- cess at the Valentine Lake Gold Camp, Newfoundland, with the intersection of wide intervals of excellent grades includ- ing 2.12 g/t gold over 125 metres and 4.08 g/t gold over 43 metres in MA-17-162, and 1.91 g/t gold over 82 metres and 3.20 g/t gold over 22 metres in MA-17-163. Results from MA-17-162 are included in the lat- est property-wide gold resource totaling 1,388,200 oz gold at 1.91 g/t (measured and indicated) and 766,150 oz gold at 2.24 g/t (inferred), The February 2017 resource update at the Marathon deposit has out- lined a substantially larger resource pit shell which now extends along strike for almost 1,500 metres with a width up to 750 metres. The latest best assays before press time included 2.92 g/t tonne gold over 71 metres and 1.88 g/t gold over 136 metres in MA-17-165, 2.32 g/t gold over 19 metres in MA-17-166, and 2.35 g/t gold over 29.0 metres in MA-17-167. Maritime Resources Corp. [MAE- TSXV] holds 100% of the Green Bay property which hosts the past-producing Hammerdown gold mine and the Orion gold deposit (1.5 km apart) and the Lochinvar base-precious metals deposit. An independent NI 43-101 resource esti- mate for Green Bay, near Springdale, Newfoundland, estimates the property hosts over 400,000 ounces of gold mea- sured and indicated and over 600,000 ounces inferred, both at a 3 g/t cut-off grade. The Hammerdown gold deposit was successfully mined by Richmont Mines from 2000 to 2004. Osprey Gold Development Ltd.