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K2 Gold Discovers New Mineralized Zone at Wels Property
K2 Announces the Discovery of a New Mineralized Zone at Wels, extends its license acreage at Wels and Appoints Jo Price as Vice President of Exploration VANCOUV
About this update from K2 Gold Corporation
[{"type":"text","content":"K2 Announces the Discovery of a New Mineralized Zone at Wels, extends its license acreage at Wels and Appoints Jo Price as Vice President of Exploration VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 13, 2017) - K2 Gold Corporation (\"K2\" or the \"Company\") (TSX VENTURE:KTO) is pleased to report the discovery of a new zone of gold mineralization on the Wels Gold Property (\"Wels\" or \"the Property\") located in west-central Yukon Territory in the Traditional Territory of White River First Nation (\"WFRN\"). This new zone (\"Southwest Spur\") is approximately 1.2km southwest of the initial Saddle Zone discovery on Wels, which has been the focus of drilling to date. The Company has also staked an additional 1,200 hectares on the western margin of the Wels Property. Highlights of the Southwest Spur discovery One sample from Southwest Spur returned 28.2 g/t from an area of highly altered, fractured and silicified mafic rock (Figure 1). An additional 44 samples were collected in follow-up work for which assays are currently pending. Rocks collected to date from Southwest Spur appear to be mafic in nature, possibly gabbroic, and represent a completely different lithology to the gold bearing granites of the Saddle Zone. The Southwest Spur rock samples also exhibit multiple alteration and fabric features consistent with faulting. The 28.2 g/t Au sample is located immediately adjacent to the site of previous soil sampling that returned 672 ppb Au and 389 ppb Au. Within 150m of the 28.2 g/t rock sample and the two next highest rock values of 0.36 g/t and 0.2 g/t Au, thirteen soil samples recorded values of above 26 ppb Au. The anomalous soil sample zone at Southwest Spur appears to extend for at least 1.5km by 500m in an east west direction. 2017 Yukon Exploration Summary Wels - The identification of a new gold zone completes a successful summer season of drilling and exploration at Wels. The Saddle Zone mineralization was extended along strike by drilling and trenching, the results of which are summarized in the Company's news release dated August 10, 2017. The known mineralization now extends over a strike length of 150 metres and remains open in all directions. In addition, a new mineralized zone (\"the Southwest Spur\") comprises a different lithology and was discovered approximately 1.2km to the southwest of Saddle. In total 1,...