K9 Gold Completes 2022 Drill Program; Compilation of Analytical Results in Progress
K9 Gold Completes 2022 Drill Program;
Compilation of Analytical Results in Progress
Vancouver, British Columbia--(Newsfile Corp. - September 29, 2022) -
K9 Gold Corp. (TSXV: KNC)
(FSE: 5GP) (OTCQB: WDFCF) ("K9" or the "Company")
is pleased to announce that the 2022
diamond drill program has been completed at the Jumper's Pond zone on its high prospective Stony
Lake project in central Newfoundland. Partial analytical results have been received and are currently
being compiled and incorporated into the project data base. On receipt of the analytical results, 3D
modelling of the gold concentrations for the 2022 drilling program is planned.
The 2022 drill program, consisting of eight diamond drill holes totaling 2919 metres, was designed to
follow up the gold mineralization encountered in hole JP21-022 that intersected a weighted average of
0.61g/t gold over a core interval of 127.4 metre. Geological and geotechnical logging of the drill core has
been completed.
Geological descriptions of the drill core indicate that the drilling continues to intersect extensive zones of
shearing and brecciation, comparable to the mineralized structures encountered in the 2021 program.
Highlights of 2021 drill program at Jumper's Pond
(see Company release dated July 5, 2022)
:
JP21-022 intersected a
127.4-meter zone of continuous gold mineralization averaging
0.61 g/t Au, from 97.00 to 224.40 m downhole, including 65.1m of 0.78 g/t and 5.70m of 2.37
g/t.
The mineralized structure
intersected in JP21-012 was extended approximately 100m along strike
to the north,
The mineralization is interpreted to occur along the axis of an anticlinal structure, in the footwall of a
major fault zone and remains open along strike and at depth,
Higher grade samples include 5.09 g/t over 0.30m and 5.58g/t over 0.50m in JP21-022 and
4.48g/t over 0.30m in JP21-019,
The mineralization intersected in earlier drilling programs and the mineralized structures exhibit a
strong spatial correlation to a positive chargeability anomaly that has a strike length of at least
3000 meters.
Jeff Poloni, CEO of K9 Gold, commented, "The recent drilling program successfully extended the
mineralized structures intersected in the previous drilling programs. We continue to add to our
understanding of the structural orientation and characterization of the mineralization. The Jumpers Pond
Zone is one of numerous structural inflection points interpreted from our geophysical surveys over our
expansive property and this year's exploration will help in additional discoveries."
QA/QC Procedures
K9 Gold Corp employs a rigorous QA/QC protocol on samples submitted for analysis including the
insertion of blanks, reference standard and duplicated into its sample streams.
For every 40 samples,
one blank and three standards are inserted.
In addition, one reject duplicate is included in every batch of
40 samples.
To date, no significant discrepancies have been detected in the results of the blanks,
standards, and duplicates.
K9 uses the services of Eastern Analytical in Springdale NL, using their fire assay and 34 element ICP
package for sample analysis.
Eastern Analytical is ISO 17025 Accredited in Fire Assay Au, as well as
for their multi-acid ore grade assays in Cu, Pb, Zn, Ag, Fe and Co.
To ensure a safe workplace environment that protects the health and safety of employees and
contractors, K9 Gold follows all federally and provincially mandated and recommended guidelines
regarding COVID-19.
K9 Gold acknowledges the financial support of the Stony Lake project by the Government of
Newfoundland and Labrador, through the Department of Industry, Energy and Technology Junior
Exploration Assistance Program.
About Stony Lake Project
The Stony Lake property lies within the Exploits Subzone Gold Belt of the Cape Ray/Valentine Lake
structural trend in Central Newfoundland, lying parallel to that of New Found Gold's Queensway project,
along the prolific Dog Bay Line.
The project covers 13,625 ha and 27 kilometers of favorable trend
between Sokomon's Moosehead discovery immediately to the northeast and Marathon's Valentine Lake
deposit to the southwest.
Excellent infrastructure exists on the project lands and in the surrounding area.
At Stony Lake, ground prospecting and sampling has led to the identification of seven broad areas of
highly anomalous to low grade (up to 4.0 g/t Au) to high grade (>4.0 g/t Au) gold mineralization.
Following up on the prospecting work, systematic exploration with property-wide airborne geophysical
and extensive soil sampling, plus two large grids of IP ground geophysical survey, has led to the
interpretation of about 100 anomalies, at least ten of which are rated as high priority drill targets.
The
2021 drilling program has added to the potential of the project with multiple very wide intersections of
substantial gold mineralization, including 0.61 g/t Au over 127.4 meters in hole JP21-022 .
About K9 Gold Corp
K9 Gold Corp has assembled a highly-experienced and dynamic team to explore its Stony Lake Project.
The project has been acquired from District Copper Corp by an option agreement, whereby K9 can earn
up to a 100% interest in the project (see Company release dated July 30, 2020).
The Company also
owns a 100% interest in the Desert Eagle Vanadium-Uranium project located in the historic Henry
Mountains Mining District in SE Utah.
The area has seen extensive historic vanadium and uranium
mining and is close to Anfield Energy Inc's Shootaring Canyon mill.
Chris M. Healey, P. Geo, Chief Geologist and a Director of K9 Gold Corp., is the qualified person
under NI 43-101 guidelines who is responsible for the technical content of this release, and consents
to its release.
Toll Free Number: (833) 434-GOLD (4653)
Kosta Tsoutsis
Director
K9 Gold Corp.
email:
Telephone: 604 808-9134
Brian Morrison
Chief Financial Officer and Director
K9 Gold Corp.
email:
telephone: 604 312-6910
The Company is listed on the TSX Venture Exchange.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of
management regarding K9's intention to continue to identify potential transactions and make certain
corporate changes and applications. Forward-looking statements consist of statements that are not
purely historical, including any statements regarding beliefs, plans, expectations or intentions
regarding the future. Such statements are subject to risks and uncertainties that may cause actual
results, performance or developments to differ materially from those contained in the statements. No
assurance can be given that any of the events anticipated by the forward-looking statements will occur
or, if they do occur, what benefits K9 will obtain from them. These forward-looking statements reflect
managements' current views and are based on certain expectations, estimates and assumptions
which may prove to be incorrect. A number of risks and uncertainties could cause actual results to
differ materially from those expressed or implied by the forward-looking statements, including K9's
inability to identify transactions having satisfactory terms or at all and the results of exploration or
review of properties that K9 does acquire. These forward-looking statements are made as of the date
of this news release and K9 assumes no obligation to update these forward-looking statements, or to
update the reasons why actual results differed from those projected in the forward-looking statements,
except in accordance with applicable securities laws.
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https://www.newsfilecorp.com/release/138802