K2 Gold Provides 2024 Exploration Program Updates
K2 Gold Provides 2024 Exploration Program
Updates
Vancouver, British Columbia--(Newsfile Corp. - June 17, 2024) - K2 Gold Corporation (TSXV: KTO)
(OTCQB: KTGDF) (FSE: 23K) ("
K2
" or the "
Company
") today announced the commencement of a soil
sampling program at the Wels Project, located in west-central Yukon Territory 60km south of Newmont's
Coffee gold deposit. In addition, drill core from the Company's 2023 diamond drilling program at the Si2
Project, located 60km west of Tonopah, Nevada, will undergo hyperspectral analysis. Both projects are
fully funded.
Highlights:
Wels Project:
Soil sampling program has been designed to collect data over the previously unexplored western
portion of the Wels property.
Data and information acquired from this program will be used to evaluate possible extensions to
the Saddle and Pekoe target areas which were successfully drilled by K2 in 2023.
Si2 Project:
Select intervals of drill core from the 2023 program at the Si2 Project will undergo hyperspectral
analysis to determine clay species and aid in vectoring towards stronger mineralization.
Mojave Project:
Permitting via the Environmental Impact Statement (EIS) process for a Phase II drill program at
Mojave continues to progress favourably with an updated expected completion of Q4 2024.
Exploration Program Details
Wels:
Up to 1,130 sites will be sampled during the 2024 Wels soil sampling program. Samples will focus on a
prominent ridgeline extending northwest from the Saddle and Pekoe target areas. The grid extends to
the northwest along high-priority lineaments identified from analysis of LiDAR and geophysical data.
Structures hosting mineralization at the Saddle and Pekoe targets are inferred to continue to the
northwest trending onto unexplored ground.
Areas of interest on the southern half of the property will also
be sampled based on compelling geophysical, and structural characteristics.
Si2:
Diamond drill core from K2's 2023 program will be scanned using non-destructive hyperspectral
imaging. This is an emerging technique in mineral exploration, which will produce an extensive dataset
with invaluable down-hole mineralogical information. The results of the analysis will be used to determine
the approximate temperatures and/or depths of the various alteration mineral assemblages observed
and identified, which may aid in vectoring towards stronger mineralization.
Qualified Person ("QP") and QA/QC
The technical information in this news release has been prepared in accordance with Canadian
regulatory requirements set out in NI 43-101 and reviewed and approved by Eric Buitenhuis, M.Sc.,
P.Geo., K2's QP and Vice President of Exploration.
About K2 Gold
K2 is a proud member of Discovery Group and currently has projects in Southwest USA and the Yukon.
The
Wels Project
lies approximately 40km east of the community of Beaver Creek and 60km south of
Newmont Corporation's Coffee deposit, which was originally discovered by Kaminak Gold Corporation
(formerly a Discovery Group company prior to its acquisition by Goldcorp in 2017). Both the Coffee
project and the Wels project lie within the Tintina Gold Belt and are host to structurally controlled gold
mineralization within intrusive rocks exhibiting multiple trends of mineralization. The Wels land position
consists of 350 contiguous quartz claims covering 7,200 hectares and lies within the traditional territory
of White River First Nation.
The
Si2 Gold Project
is located in Esmeralda County, approximately 60km northwest of Tonopah,
Nevada, and 20km northwest of Allegiant Gold's Eastside deposit (1.4Moz Au, 8.8 Moz Ag). The project
is road accessible and consists of 118 BLM lode claims covering 986 Ha, 65 of which are under option
from Orogen Royalties Inc. (TSXV: OGN). The claims cover an 8 km
2
area of steam heated alteration
within a sequence of felsic to intermediate volcanic rocks displaying brecciation and strongly anomalous
mercury.
K2's 2023 proof of concept diamond drill program at the Si2 Project successfully confirmed that the
system is gold bearing. The project was was indentified and staked based on its strong geological
similarities to AngloGold Ashanti's 9+ Moz Au Silicon project
1
near Beatty, Nevada.
1
.
https://reports.anglogoldashanti.com/22/wp-content/uploads/2023/04/AGA-IR22.pdf
The
Mojave Project
is a 5,830-hectare oxide gold project with base metal targets located in Inyo
County, California. Multiple previously recognized surface gold targets have been successfully drilled in
the past, most notably by Newmont and BHP. Since acquiring the property, K2 has completed
geochemical and geophysical surveys, geologic mapping, LiDAR, a WorldView 3 alteration survey, and
successfully completed a 17-hole RC drill program focused on the Dragonfly and Newmont Zones.
Highlights from K2's drilling program include 6.68 g/t Au over 45.72m from surface at the Dragonfly
Zone, and 1.69 g/t Au over 41.15m from 44.20m depth at the Newmont Zone.
K2 is committed to transparency, accountability, environmental stewardship, safety, diversity, inclusion,
and community and indigenous engagement
.
On behalf of the Board of Directors,
Anthony Margarit
President and CEO
For further information about K2 Gold Corporation or this news release, please visit our website at
k2gold.com
, contact our office at 778-266-1456, or email
.
K2 Gold Corporation is a proud member of Discovery Group based in Vancouver, Canada. For more
information please visit:
discoverygroup.ca
.
Cautionary Statement on Forward-Looking Statements
This news release contains forward-looking statements that 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
statements, including statements regarding the exploration program at Si2, Wels, and Mojave, including
results of drilling, and future exploration plans at Si2, Wels, and 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.sedarplus.ca
). 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 assurance 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.
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https://www.newsfilecorp.com/release/213253