Rock sampling recovered values up to 936 g/t Ag and 20m of 5.05% Zn in trenching from the MR license block. Results for GDR were announced on November 25 th. Over the summer, exploration was completed at the GDR silver property and the Wels gold property in the Yukon. A Phase 2 program will comprise additional sampling, geologic mapping and prospecting, an additional 100 line-km of ground magnetic surveys and completion of a LiDAR and remote sensing surveys. The Company has also staked a further 576 hectares of ground over 69 claims. In addition to prospecting and sampling, the Company has initiated a ground magnetic survey of which 46.6 line-kilometres has been completed to date. To date 384 soil samples, 48 grab/chip samples and 242 channel samples over 29 lines have been collected and sent to MSALABS, Vancouver, for gold and multi-element analysis. The style of mineralization suggests some zones may have Carlin-type affinities. The mineralization is predominantly surface and near-surface structurally related sediment-hosted oxide gold. The focus of the exploration is the Newmont and Dragonfly zones that were previously drilled by Newmont and BHP in the 1980’s and 1990’s. The two-phase exploration program comprises hand trenching/channel sampling, rock and soil sampling, ground magnetics, LiDAR, and a remote sensing spectral study, which will map rock lithology and alteration. Phase 1 is complete with results pending. These data come from historical reports made between 19 by various parties.Ī three-month, two-phase, US$350,000 exploration program was initiated at Mojave by K2 in December 2019. The qualified person has not verified the drilling data disclosed in this release, including sampling data and assay results. All gold mineralization discovered to date is either at surface or close to surface. The best trench result to date is an undrilled section of the Dragonfly area where 42.7m of 4.2 g/t was reported by Great Bear Resources in 2013. Highlights of historical drill results include 13.7m of 2.4 g/t Au, 53m of 0.55 g/t Au and 99m of 1.1 g/t Au. These programs focused on three different target areas on the property. To date 145 diamond drill holes have been drilled by three companies: Asamera (113), Newmont (22) and BHP (10). Mineralization was first discovered at Mojave in the 1980’s in the north west of the property and subsequently at least eight other gold rich areas have been discovered by various companies including Newmont and BHP. In conjunction with the exploration program, the land package at Mojave was increased from 4,569 ha to 5,145 ha to acquire some prospective ground not covered by the original claims.The results of Phase 1 of the field program, which included rock and trench sampling are expected in Q1. Fieldwork at Mojave commenced in December.In October, Jodie Gibson was appointed VP Exploration and commenced working for K2 in December.At the end of August the Company closed an oversubscribed C$3.5M private placement.California - In early July K2 announced an option to acquire 100% of the Mojave gold project in California.Yukon and Alaska - During the past year, the Company completed exploration fieldwork programs in the Yukon and Alaska on the GDR, Wels and McArthur properties. ![]() K2 is pleased to provide the following summary of the progress made by the Company over the past year and an overview of the planned exploration programs for 2020. Vancouver, B.C., Canada – January 13, 2020, K2 Gold Corporation (“ K2” or the “ Company”) (TSXV:KTO) is a North American mineral exploration company with projects in California, the Yukon and Alaska.
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