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K2 Gold Provides A Technical Update of the Wels Property; Expands footprint of the gold system
VANCOUVER, British Columbia, April 12, 2018 (GLOBE NEWSWIRE) -- K2 Gold Corporation (“K2” or the “Company”) (TSX-V:KTO) is pleased to announce that recent re-in
About this update from K2 Gold Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, April 12, 2018 (GLOBE NEWSWIRE) -- K2 Gold Corporation (“K2” or the “Company”) (TSX-V:KTO) is pleased to announce that recent re-interpretation of the geochemical and geophysical data at Wels increases the gold system footprint to an area covering 3 km x 1.5 km and identifies additional structures that may be controlling the system. The Wels Gold Property (“Wels” or “the Property”) is located in west-central Yukon Territory in the Traditional Territory of White River First Nation (“WFRN”). Re-interpretation of the existing rock, soil, and drill sample geochemistry was conducted by Chris Benn, a highly respected geochemist with 33 years’ experience including 27 years with majors, most recently with Gold Fields Ltd. Re-interpretation of the existing geophysical data was conducted by Mark Hanki, Project Geophysicist at Apex Geoscience Ltd in Edmonton. Highlights: Antimony (Sb), and arsenic (As) are pathfinder elements that show a clear affinity with the known gold (Au) in all rock-types at Wels. This may suggest that gold mineralization has affinity to orogenic style gold deposits which are typical in the 200 km wide and 1,200 km long Tintina Gold Belt that hosts the Goldcorp’s Coffee deposit (4.09M Oz at 1.38 g/t) located 65km north-east of Wels. The dominant Sb signature shows a clear mineralisation footprint of 3 km x 1.5 km that includes the Saddle and Chai prospects. The boundaries of this footprint are likely to be significant for exploration in defining limits to at least one zone of mineralisation. Eleven geochemical anomalies have been defined that will aid in exploration targeting in 2018. A series of dominant structures trending NW-SE were identified during the re-interpretation of the existing geophysical data and these structures correlate well with the geochemical footprints. Please CLICK HERE to view figure related to this news release. Jo Price, VP Exploration commented, “The new geochemical and structural analysis has identified a potentially large gold system at Wels and the clarification of existing and new geochemical anomalies will help us zone in on covered high-grade gold zones during our 2018 exploration work.” Stephen Swatton, President and CEO commented, “I am very encouraged at the increased size of the mineralization footprint at Wels and the potential for a larg...