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K2 Gold Enters into Option Agreement to Acquire 100% of the Mojave Gold Project, California
VANCOUVER, British Columbia, July 15, 2019 (GLOBE NEWSWIRE) -- K2 Gold Corporation (“K2” or the “Company”) (KTO:TSX-V) is pleased to announce that it has signed
About this update from K2 Gold Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, July 15, 2019 (GLOBE NEWSWIRE) -- K2 Gold Corporation (“K2” or the “Company”) (KTO:TSX-V) is pleased to announce that it has signed an option agreement (the “Agreement”) to acquire a 100% interest in the Mojave Gold Project or “Mojave Project”. The Mojave Gold Project is located 230km northwest of Las Vegas and 100km west of the Nevada-California border. It covers an area of approximately 5,780 hectares of land under the jurisdiction of the Bureau of Land Management (BLM). Mobil first discovered mineralization in the district in 1984. Since the mid 1980’s, Mojave has been worked by several senior, mid-tier and junior companies including BHP, Newmont and more recently SSR. Each subsequent company that has explored the property since discovery has endorsed the geological model and improved the overall potential by finding further distinct locations of gold bearing rocks at surface over a 7km by 5km area. Newmont, BHP and Asamara Minerals have drilled the project, and each program was successful in discovering mineralization from different locations several kilometers apart. Approximately 150 drill holes have been drilled to date covering an area of 7km by 5km covering 5 targets (Dragonfly, South Dragonfly, Newmont, Soda Ridge and Soda Canyon). Additional priority drill targets in 4 other areas (Stegosaurus Ridge, Far North, Far South and Blade zones) have yet to be fully explored and drill tested. The Mojave Project is predominantly a surface and near-surface Carlin-type, sediment-hosted oxide gold system. In addition to 8 distinct zones of Carlin type mineralization now recognized, the eastern side of the Newmont zone and the Stegosaurus zone also host the potential for a porphyry Cu-Mo-Au and/or skarn targets. “The Mojave Gold Project represents one of the ‘best early stage’ gold exploration camps I have ever seen in my career. The acquisition of this project represents a significant step forward for K2,” stated John Robins, Chairman of K2. Steve Swatton, CEO of K2, commented, “I believe the Mojave Gold Project will significantly enhance our portfolio and complement our gold properties in the Yukon and Alaska by ensuring the possibility of year round exploration. The Mojave Project has delivered positive historical drilling and other exploration results from programs by several senior mining c...