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K2 Gold Announces Agreement to Accelerate Acquisition of 100% of Si2 Project - Defines Vectors to Mineralization Through Alteration Study
Vancouver, British Columbia--(Newsfile Corp. - January 16, 2025) - K2 Gold Corporation (TSXV: KTO...
About this update from K2 Gold Corporation
[{"type":"text","content":"K2 Gold Announces Agreement to Accelerate Acquisition of 100% of Si2 Project - Defines Vectors to Mineralization Through Alteration StudyVancouver, British Columbia--(Newsfile Corp. - January 16, 2025) - K2 Gold Corporation (TSXV: KTO) (OTCQB: KTGDF) (FSE: 23K) (\"K2\" or the \"Company\") today announced the signing of an agreement to acquire a 100% interest in the Si2 Project in Nevada, USA, from Orogen Royalties Inc. (TSXV: OGN) (\"Orogen\"), as well as the results of an alteration study completed on drill core from the Si2 Gold Project. Si2 hosts an early-stage epithermal gold system within the Walker Lane Trend which K2 believes represents a strong exploration analogue to the recent 13.3Moz Silicon discovery.HighlightsThe alteration study determined that an intact low sulphidation epithermal gold system is present on the Si2 property, with the most prospective horizons occurring within and adjacent to fault structures below the depth of current drilling. The alteration mineralogy indicates potential for higher-tenor gold mineralization slightly deeper than the current extent of drilling.K2 will acquire a 100% interest in Si2 by paying C$250,000 in cash or common shares of K2, at the discretion of K2. Orogen will retain a 2% net smelter return (\"NSR\") royalty. The Agreement follows on from the now terminated Option Agreement between Orogen and K2 (January 19, 2022) whereby K2 made cash payments to Orogen totaling US$200,000 and incurred over C$2.3 million in exploration expenditures. (The common shares issued pursuant to the Agreement are subject to the regulatory approval of the TSX Venture Exchange.) \"The results of this study confirm that the southern targets at Si2 host a typical low-sulphidation epithermal alteration assemblage but suggest that we did not test deep enough in this portion of the system. The encouraging alteration and increasing gold values intersected at relatively shallow depths leave us with highly prospective follow up targets beneath and along strike of the extent of our 2023 drilling. Fully acquiring the Si2 Project allows us the flexibility to advance the project at our own pace as we approach the final steps in permitting at K2's flagship Mojave Project,\" stated Anthony Margarit, K2's President and CEO.Alteration Survey ResultsSamples were collected approximately every 25m along the length of e...