K9 Gold Upgrades Moonlight Target on Stony Lake Project
K9 Gold Upgrades Moonlight Target on Stony
Lake Project
West Vancouver, British Columbia--(Newsfile Corp. - February 8, 2024) -
K9 Gold Corp. (TSXV: KNC)
(FSE: 5GP) (OTCQB: WDFCF) ("K9" or the "Company")
is pleased to report a significant upgrade
to the Moonlight target on its Stony Lake Project in central Newfoundland.
The 2023 soil sampling
program has both widened and enhanced the target area at Moonlight.
2023 Exploration Program:
The 2023 exploration program on the project comprised the collection of 311 soil samples on two grids,
Moonlight and Rattling Brook.
Field work was performed by GroundTruth Exploration, of Dawson City,
YK.
Moonlight Grid:
Previous work performed by K9 Gold on the Moonlight Grid included airborne and ground geophysics,
soil sampling, trenching and diamond drilling.
The grid covers a flexure in a major regional fault zone.
Trenching on the grid in 2021 discovered a wide zone of significant gold mineralization (0.81 g/t Au over
15.0 m in soil samples from the trench).
Follow up diamond drilling encountered a similar zone (0.84 g/t
Au over 9.52 m downhole) in hole ML21-016.
In 2023, 213 soil samples were collected on the grid, on a nominal 100 x 25 m spacing.
Of these, twelve
exceeded 10 ppb Au, with a range of 10 to 315 ppb as well as 0.9 g/t Au).
Rattling Brook Grid:
This grid has seen limited previous exploration.
Historic data includes several geochemical anomalies.
The 2023 program on this grid comprised 98 soil samples.
Of these, two exceeded 10 ppb Au (11 and
32 ppb respectively).
Jeff Poloni, CEO of K9 Gold commented, "The 2023 work program was designed to help understand
and better define the zone of gold mineralization. These values in soils are considered to be highly
significant and clearly point to the potential of the Moonlight area."
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.
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 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).
K9 also operates the
JB Lithium Project in the James Bay region of Québec.
Additionally, the Company 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.
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.
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 approves
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/197237