Bakar Property Expansion and VTEM Survey Initiated
918-1030 West Georgia, Vancouver, BC, V6E 2Y3
Telephone: 604-628-5616
MK2 VENTURES LTD.
Bakar Property Expansion and VTEM Survey Initiated
Vancouver, B.C., May 24, 2019
May 24, 2019 - MK2 Ventures Ltd. (TSXV/NEX: MK.H; "MK2" or the “Company”) is
pleased to announce that it has acquired additional mineral claims contiguous to the northwest
and southeast , of the Bakar high grade copper property (the "Bakar Property") , located on
Northern Vancouver Island, British Columbia. As announced on May 2, 2019, the Company
entered into a definitive purchase agreement dated May 1, 2019 with Longford Capital Corp. to
acquire a 100% ownership interest in the Bakar Property.
The additional mineral claims will increase the size of the Bakar Property from 1,349 hectares
(ha) to 15,687 ha (Figure 1), at a cost of approximately $25,000. This much larger land package
contains several BC MINFILE occurrences of redbed copper-silver style mineralization that has
not seen any substantia l or modern exploration. These additional mineral claims a lso cover
prospective geological, geophysical, and geochemical features that include:
• a major structural suture that runs NW-SE through the property;
• magnetic high features adjacent to an extensive NW-SE magnetic low cor ridor that
shows a significant flexure on the property;
• NW-SE trending copper in stream sediment anomalies; and
• copper in till anomalies that also trend NW-SE.
In addition, the Company has entered into a contract with Geotech Ltd., to complete an airborne
Versatile Time Domain Electromagnetic (VTEM) Plus survey on the Bakar Property, including
a large portion of the newly acquired mineral claims. This airborne V TEM Plus survey is
expected to commence imminently.
Seven outcrop chip samples recovered from the Bakar Property in December 2018 returned assays
ranging from 0.01 to 38.9% Cu, and <0.1 to 221.0 g/t Ag (Table 1). Four of these samples were
recovered perpendicular to 0.5 to 1.0 m wide semi-massive sulphide (+/- native copper) lenses
and veins . Disseminated, stringer, and fracture -hosted sulphide mineralization (chalcocite,
bornite, and chalcopyrite) was observed to emanate from the high grade copper-silver lenses and
veins hosted within a stratabound volcanic sequence showing an apparent thickness of over 30
m, and a NW-SE strike length of over 200 m.
The strong conductive nature of the mineralization observed on the Bakar Property makes VTEM
Plus the preferred geophysical survey method for detecting potential significant redbed copper -
silver type deposits. The VTEM Plus survey will be flown at 100 m line -spacing in order to
provide the detail required to assess priority levels of any identified targets for drill testing (Figure
1).
918-1030 West Georgia, Vancouver, BC, V6E 2Y3
Telephone: 604-628-5616
Garrett Ainsworth, CEO of MK2, commented: “The expansion of the Bakar Property was part of
our objective early on to acquire a large land package with prospective geologic features in a
largely underexplored area. Bakar is now a regional scale land package, which contains
geological units and contrasting contacts associated with metal precipitation, which is supported
by stream sediment and till geochemical anomalies, and prospective magnetic features. We are
excited to commence modern exploration at Bakar with the first ever VTEM Plus survey, which
will be used to direct our g eological mapping and geochemical work program over the next few
months.”
Galen McNamara, VP Exploration & Development of MK2, commented: “ The Bakar Property
and additional staked area both contain very encouraging high grade copper at surface from which
we identified widespread regional geological features , that we interpret to be fertile for redbed -
style copper-silver mineralization. Because these deposits typically contain strong concentrations
of highly conductive na tive copper and copper sulfides, VTEM is the ideal solution to identify
anomalies which may lead to the detection of significant mineralization.”
Technical Information
All scientific and technical information in this news release has been prepared by or reviewed and
approved by Garrett Ainsworth, PGeo, President and CEO of the Company and Galen McNamara,
PGeo, Vice President Exploration and Development of the Company . Each of Mr. Ainsworth
and Mr. McNamara is a qualified person for the purposes of N ational Instrument 43-101 -
Standards of Disclosure for Mineral Projects.
The chip samples from outcrop reported in this news release were recovered by Mr. Ainsworth
and Mr. McNamara perpendicular to outcropping mineralization across widths of 0.5 to 1.0 m. A
total of seven chip samples were then transported from the Bakar Property to Bureau Veritas
Mineral Laboratories (BVML) in Vancouver, BC for preparation and analysis . Samples were
analyzed for 45 elements with four acid digestion Inductivity Coupled Pl asma – Mass
Spectrometry (ICP-MS). Over limit sample values were re-assayed for copper values over 10.0%
using copper assay by classical titration (GC820), and silver values over 200 g/t by four acid
digestion Inductivity Coupled Plasma - Emission Spectroscopy (ICP-ES).
918-1030 West Georgia, Vancouver, BC, V6E 2Y3
Telephone: 604-628-5616
Figure 1: Location, Regional Compilation and VTEM Survey Grid for the Bakar Property
918-1030 West Georgia, Vancouver, BC, V6E 2Y3
Telephone: 604-628-5616
Table 1: Bakar Outcrop Chip Sample Assay Results
Sample
Number
Easting
(m)
NAD83
Northing
(m)
NAD83
Sample
Interval
(m)
Cu
(wt%)
Ag
(g/t) Sample Description
3267001 566249 5611229 1.0 0.8 1.8
Quartz carbonate veining within
an altered tuff with prevalent
malachite staining.
3267002 565856 5611130 1.0 0.01 <0.10
Possible fault breccia of oxidized
medium grained basalt with
intensive limonite staining
3267003 566799 5612393 1.0 0.01 <0.10
Intense shearing and extensive
limonite alteration present in a
fine grained basalt with highly
oxidized sulphides.
3267004 566620 5612443 0.5 38.7 221.0
Strongly mineralized and
oxidized sheared basalt with
tarnished sulphides including
bornite, chalcocite, chalcopyrite
and native copper.
3267005 566623 5612447 0.5 7.7 6.4
Moderately mineralized and
oxidized sheared basalt with
tarnished sulphides including
bornite, chalcocite and malachite
3267006 566627 5612451 1.0 34.3 37.7
Strongly mineralized and
oxidized sheared basalt with
tarnished sulphides including
bornite, chalcocite, chalcopyrite
and malachite
3267007 566620 5612443 1.0 10.3 65.7
Moderately mineralized and
oxidized sheared basalt with
tarnished sulphides including
bornite, chalcocite, chalcopyrite
and native copper.
ON BEHALF OF THE BOARD
“Garrett Ainsworth”
President and Chief Executive Officer
604-628-5616
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
918-1030 West Georgia, Vancouver, BC, V6E 2Y3
Telephone: 604-628-5616
Cautionary Statement Regarding “Forward-Looking” Information.
This news release contains "forward -looking information" within the meaning of applicable
Canadian securities legislation. “Forward -looking information” includes, but is not limited to,
statements with respect to the activities, events or developments that the Company expects or
anticipates will or may occur in the future, including completion of the acquisition of the Bakar
Property and the results of planned exploration activities thereon. Generally, but not always,
forward-looking information and statements can be identified by the use of words such as “plans”,
“expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”,
“anticipates”, or “believes” or the negative connotation thereof or variations of such words and
phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will
be taken”, “occur” or “be achieved” or the negative connation thereof.
Such forward-looking information and statements are based on numerous assumptions, including
among others, that regulatory approval to the Purchase Agreement will be obtained, that general
business and economic conditions will not change in a material adverse manner and that third
party contractors, equipment and supplies and governmental and other appr ovals required to
conduct the Company’s planned exploration activities will be available on reasonable terms and
in a timely manner. Although the assumptions made by the Company in providing forward -
looking information or making forward -looking statements are considered reasonable by
management at the time, there can be no assurance that such assumptions will prove to be
accurate.
Forward-looking information and statements also involve known and unknown risks and
uncertainties and other factors, which may cause actual events or results in future periods to differ
materially from any projections of future events or results expressed or implied by such forward-
looking information or statements, including, among others: that planned exploration activities
do not achieve anticipated results, regulatory approval to the acquisition of the Bakar Property
will not be obtained such that the transaction will be completed in accordance with its terms or at
all, that the Company will not complete the required expenditures and that, as a result, the Bakar
Property will be forfeited without any repayment to the Company, negative operating cash flow
and dependence on third party financing, uncertainty of additional financing, no known mineral
reserves or resources, relianc e on key management and other personnel, potential downturns in
economic conditions, actual results of exploration activities being different than anticipated,
changes in exploration programs based upon results, and risks generally associated with the
mineral exploration industry, environmental risks, changes in laws and regulations, community
relations and delays in obtaining governmental or other approvals.
Although the Company has attempted to identify important factors that could cause actual results
to differ materially from those contained in the forward -looking information or implied by
forward-looking information, there may be other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that forward-looking information and statements
will prove to be accurate, as actual results and future events could differ materially from those
anticipated, estimated or intended. Accordingly, readers should not place undue reliance on
forward-looking statements or information.
918-1030 West Georgia, Vancouver, BC, V6E 2Y3
Telephone: 604-628-5616
The Company undertakes no obligation to update or reissue forward -looking information as a
result of new information or events except as required by applicable securities laws.