K2 Gold Identifies Large Magnetic Anomaly at Mojave
Suite 1020 – 800 West Pender Street, Vancouver, BC V6C 2V6
Tel: 604-646-8354 Fax: 604-646-4526
TSX-V: KTO
NEWS RELEASE
K2 Gold Identifies Large Magnetic Anomaly at Mojave
Vancouver, B.C. – August 7, 2020 – K2 Gold Corporation (“K2” or the “Company”) (TSX-V: KTO;
OTCQB: KTGDF; FRANKFURT: 23K) is pleased to report that it has identified a large magnetic
anomaly on the Mojave gold project (“Mojave”) in Inyo County, California following an 8.3 km 2
ground magnetic survey. The magnetic survey was focused on the gold-rich Eastern Target area
covering the East, Newmont, Central, and Dragonfly target areas. In addition to the geophysical
survey K2 completed a 72 km2 LiDAR topographic survey.
Please CLICK HERE to view all figures related to this news release.
Ground Magnetic Survey
An 8.3 km2 ground magnetic survey was completed on the gold-rich Eastern Target area covering
the East, Newmont, and Dragonfly target areas of Mojave. The data is being used in concert with
available geochemical, geological, LiDAR, and WorldView -3 spectral imagery to advance the
geologic and structural interpretation of the target area. In addition, a 3D inversion was completed
on magnetic data to assess the potential for deep magnetic sources that may be associated with
intrusions beneath the target. The inversion indicated a large, 600m x 900m, magnetic feature
approximately 600m beneath the Central portion of the Eastern target area that is interpreted as
an intrusion and may be associated with mineralization in the area. In addition, a set of smaller
magnetic features also occur beneath the Dragonfly target. These appear to come to surface in
colluvial cover immediately west of the target and may represent addition intrusive bodies. Follow
up investigation of the anomalies will be conducted in the near future.
LiDAR Survey
A 72 km2 LiDAR survey was also completed on Mojave, and provided high-resolution (<1m) base
imagery and topographic data that is being utilized to ad vance t he Company’s geologic and
structural interpretation on the project. Preliminary analysis of the data highlighted a series of
previously unmapped structural lineaments across the property and historic workings/prospects
that warrant follow up investigation. Furthermore, the data provides high-resolution topographic
data that will aid in drill planning, permitting, a nd 3D modelling efforts on the project. Further
analysis of the data is ongoing.
Qualified Person
Jodie Gibson, Vice President of Exploration and a Qualified Person under National Instrument
43-101, has reviewed and approved the technical information on this release.
About K2
K2 is a well financed gold and silver exploration company with approximately $ 2M cash and
projects in SW USA, Yukon and Alaska. The Company is focused on the Mojave property in
California, a 5,830 hectare oxide gold project with base metal targets . The location of Mojave
enables the Company to have year -round news flow on multiple previously recognized surface
gold targets that have been successfully drilled in the past by majors BHP and Newmont. Besides
affording immediate drill targets , the property also includes undrilled historical trench results
including 4.2 g/t gold over 42.7m.
On behalf of the Board of Directors,
“Stephen Swatton”
President and CEO
K2 Gold Corporation.
For further information about K2 Gold Corporation or this news release, please visit our website
at k2gold.com or contact Investor Relations at 604-354-2491, or by email at [email protected].
K2 Gold Corporation is a proud member of Discovery Group. For more information please visit:
discoverygroup.ca.
Cautionary Statement on Forward-Looking Statements
This news release contains forward -looking statements tha t are not historical facts. Forward -
looking statements involve risks, uncertainties and other factors that could cause actual results,
performance, prospects and opportunities to differ materially from those expressed or implied by
such forward -looking st atements, including statements regarding the exploration program at
Mojave, including results of drilling, and future exploration plans at Mojave. Factors that could
cause actual results to differ materially from these forward-looking statements include, but are not
limited to, variations in the nature, quality and quantity of any mineral deposits that may be
located, the Company's inability to obtain any necessary permits, consents or authorizations
required for its planned activities, and the Company's inability to raise the necessary capital or to
be fully able to implement its business strategies. The reader is referred to the Company's public
disclosure record which is available on SEDAR ( www.sedar.com). Although the Company
believes that the assumptions and factors used in preparing the forward -looking statements are
reasonable, undue reliance should not be placed on these statements, which only apply as of the
date of this news release, and no assura nce can be given that such events will occur in the
disclosed time frames or at all. Except as required by securities laws and the policies of the TSX
Venture Exchange, the Company disclaims any intention or obligation to update or revise any
forward-looking statement, whether as a result of new information, future events or otherwise.
This news release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall
there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful, including any of the securities in the United States of America. No securities
of the Company have been or will, in the foreseeable future, be registered under the United States
Securities Act of 1933 (the “1933 Act”) or any state securities laws and may not be offered or sold
within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation
S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws,
or an exemption from such registration requirements is available.
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.