K2 Gold Submits Plan to Expand Currently Permitted Drill Program at Mojave
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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 Submits Plan to Expand Currently Permitted Drill
Program at Mojave
Vancouver, B.C. – June 2, 2020 – K2 Gold Corporation (“K2” or the “Company”) (TSX-V: KTO;
OTCQX: KTGDF; FRANKFURT: 23K) is pleased to announce that it has filed an amended Plan
of Operations (“PO”) to the Bureau of Land Management ( “BLM”) through its 100% owned
subsidiary, Mojave Precious Metals Inc . The revised PO outlines K2’s proposal to ex pand the
currently permitted helicopter supported drill permit to include up to 30 additional sites by re-
establishing a historic access road utilized by BHP. The revised drill program will test (from north
to south) the Dragonfly, Central and Newmont locations (see MAP).
Dragonfly
Up to 10 drill sites covering 420m of strike length are planned for Dragonfly. The drilling follows
up on historic drilling on the target which included intercepts of 1.54 g/t Au over 24.38m from
surface and 3.84 g/t Au over 12.19m from 42.19m depth from hole CM97 -4, and undrilled chip
results of 4.2 g/t Au over 42m. Mineralization on the target occurs within a series of NNW oriented
structures along lithologic contacts and is associated with quartz -sericite alteration, strong iron
oxide staining, brecciation, and minor quartz-carbonate veining.
All historically reported intercepts were oxidized to at least 237m depth and preliminary “cyanide
shake” tests on the mineralization by BHP indicated recoveries up to 91% on material >0.5 g/t Au
(see Great Bear Resources news release dated Oct. 30, 2013. Available on SEDAR).
Central
Up to 4 sites covering 230m of strike length are planned for Central. Central lies between
Newmont and Dragonfly and has seen limited historic drilling. Vertical hole CM97-6 intercepted
1.07 g/t Au over 13.76m from a sulfide bearing fault zone starting at 320m depth. The zone is
interpreted to be a N-S striking high angle structure and the planned drilling will evaluate the near
surface continuity, strike extent, and depth of oxidation of the mineralization.
Newmont
Up to 16 sites covering 630m of strike length are planned for Newmont. The drilling follows up on
historic drilling on the target by Newmont and BHP which included intercepts of 2.08 g/t Au over
16.76m from 38.40m depth on CGL-3 and 0.91 g/t Au over 24.38m from 74.68m depth from CGL-
19, and surficial chip results of 2.46 g/ t Au over 34m. Mineralization on the target is associated
with a N-NE trending, moderately west dipping, structurally controlled contact between calcareous
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siltstone and bioclastic limestone, and subparallel fault splays. The historic drilling indicates a
continuous zone of gold oxide mineralization over 480m of strike length and up to 350m down
dip, starting at surface, that is open along strike and at depth.
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 $1.5M cash and has
projects in SW USA, Yukon and Alaska. The Company is focussed on the Mojave property in
California, a 5, 830 hectare oxide gold project with several base metal targets . The ambient
climatic conditions at Mojave enable the Company to work year-round. Mojave has multiple gold
and base metal targets including four surface gold targets that have been successfully drilled in
the past by majors BHP and Newmont.
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 www.k2gold.com or contact Investor Relations at 604-354-2491, or by email at
K2 Gold Corporation is a proud member of Discovery Group. For more information please visit:
www.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
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 obta in 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 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
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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 TE RM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.