Business
K2 Gold Commences Drilling at Wels Gold Property; Increases Financing
VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 12, 2017) - K2 Gold Corporation ("K2" or the "Company") (TSX VENTURE:KTO) is pleased to announce that further t
About this update from K2 Gold Corporation
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 12, 2017) - K2 Gold Corporation (\"K2\" or the \"Company\") (TSX VENTURE:KTO) is pleased to announce that further to its news release dated May 25, 2017, drilling has commenced at the Wels Gold Property located in west-central Yukon Territory in the Traditional Territory of White River First Nation (\"WFRN\"). A diamond drill program of approximately 1,200m will be completed in 5-8 holes with the goal of extending the Saddle Zone mineralization, which is currently open in all directions. The Saddle Zone is just one of three anomalous areas defined by soil sampling over a zone of 3km by 3km within the 47km² claims. Core drilling to date had intersected the host granite with minor late mafic dykes. The contacts of the intrusion, where there maybe higher grade mineralization, have not as yet been tested by drilling, and are a target for this year's program. The Company is also please to provide an update on the exploration plans at the Flume, Storck and Ladue Properties. The Flume Property is located in the historic Ten Mile Placer district, 70 km southwest of Dawson City. The property has been optioned from Commander Resources Ltd (see NR dated March 6, 2017). Since then K2 has added the adjoining Storck 1-351 claims to the west of the Flume claims. The proposed work program will consist of auger soil sampling, mapping, prospecting and possible trenching on the Flume claims and grid soil sampling, mapping and prospecting on the Storck claims. The Ladue Property (208 claims, 4350 ha) is located some 75 kilometers north of the Wels Gold Project in the Moosehorn Range district which has seen continued placer gold production totalling 65,000 ounces since 1970. Placer miners have been recovering coarse gold from quartz veins on the ground in the area now optioned to Provenance Gold Corp. Work on the Ladue property east of the Provenance ground will consist of grid soil sampling, prospecting and mapping. Stephen Swatton, President and CEO of K2 stated, \"I am pleased to announce the start of the 2017 drill program at Wels which follows on from the successful 442m preliminary drill program in 2015 (which was undertaken by a private company, as reported by K2, October 27, 2016 news release). The drilling will focus on the Saddle Zone (2km by 0.8km) in the vicinity of where a previous d...