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K2 Gold Exercises Option on the Wels Property, Yukon
VANCOUVER, British Columbia, Feb. 13, 2019 (GLOBE NEWSWIRE) -- K2 Gold Corporation (“K2” or the “Company”) (KTO:TSX-V) is pleased to report that by making a fin
About this update from K2 Gold Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, Feb. 13, 2019 (GLOBE NEWSWIRE) -- K2 Gold Corporation (“K2” or the “Company”) (KTO:TSX-V) is pleased to report that by making a final payment of 500,000 common shares it has now satisfied all of the terms of its option agreement with Go Cobalt Mining Corp. (“Go Cobalt”) and earned a 90% interest in the Wels gold project located 45 km east of Beaver Creek in the Yukon Territories. The Company will now advance the project as operator. Exploration work to date at Wels including soil and rock sampling has revealed a large 4km x 3km geochemical footprint. Limited trenching to date (155.5m) at one location, Saddle, has returned encouraging results including of 8.8 g/t Au over 45 metres and 5.3 g/t Au over 18m. Initial drilling (1,675m of shallow drilling with the deepest hole 157.5m in length) at the site of trenching returned intervals of 3.1 g/t over 19.5m and 3.3 g/t over 16.5m. These results are derived from only one area of enhanced geochemistry, the Saddle Zone, within the larger geochemical footprint. A further four zones with similar geochemistry are located 1 to 2 km north and south of Saddle. These new targets are unexplored and will be the focus of trenching and further exploration in 2019. Further detail on the Wels property are provided on the K2 Gold website www.k2gold.com. The Company is also pleased to announce that Chris Taylor has agreed to become an Advisor to the Company. Chris is President, CEO and a Director of Great Bear Resources Ltd (TSX.V:GBR) and is also CEO, Director of Dunnedin Ventures (TSX.V:DVI). He operates an independent geological consulting practice, evaluating exploration and mining properties for acquisition purposes. Previously he was a geologist with Imperial Metals, Inc., a TSX.V company from 2004 to 2009. Mr. Taylor graduated with a Bachelor of Science honours degree in Earth Sciences in 2000, and a Master of Science degree in Structural Geology from Carleton University in 2003. President and CEO of K2, Steve Swatton stated: “Wels is currently our priority exploration project and I am pleased that we have fulfilled our earn-in option. Furthermore I am delighted to have Chris join K2 in an advisory capacity, his breadth of geological knowledge on a range of mineral deposit types will be extremely useful. In addition Chris’s understanding of ...