Business
K2 Gold Provides Exploration and Business Update
VANCOUVER, British Columbia, Jan. 13, 2020 (GLOBE NEWSWIRE) -- K2 Gold Corporation (“K2” or the “Company”) (TSXV:KTO) is a North American mineral exploration co
About this update from K2 Gold Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, Jan. 13, 2020 (GLOBE NEWSWIRE) -- K2 Gold Corporation (“K2” or the “Company”) (TSXV:KTO) is a North American mineral exploration company with projects in California, the Yukon and Alaska. K2 is pleased to provide the following summary of the progress made by the Company over the past year and an overview of the planned exploration programs for 2020. Highlights of the Past Year Yukon and Alaska - During the past year, the Company completed exploration fieldwork programs in the Yukon and Alaska on the GDR, Wels and McArthur properties. California - In early July K2 announced an option to acquire 100% of the Mojave gold project in California. At the end of August the Company closed an oversubscribed C$3.5M private placement. In October, Jodie Gibson was appointed VP Exploration and commenced working for K2 in December. Fieldwork at Mojave commenced in December. The results of Phase 1 of the field program, which included rock and trench sampling are expected in Q1. In conjunction with the exploration program, the land package at Mojave was increased from 4,569 ha to 5,145 ha to acquire some prospective ground not covered by the original claims. Mojave Mineralization was first discovered at Mojave in the 1980s in the north west of the property and subsequently at least eight other gold rich areas have been discovered by various companies including Newmont and BHP. To date 145 diamond drill holes have been drilled by three companies: Asamera (113), Newmont (22) and BHP (10). These programs focused on three different target areas on the property. Highlights of historical drill results include 13.7m of 2.4 g/t Au, 53m of 0.55 g/t Au and 99m of 1.1 g/t Au. The best trench result to date is an undrilled section of the Dragonfly area where 42.7m of 4.2 g/t was reported by Great Bear Resources in 2013. All gold mineralization discovered to date is either at surface or close to surface. The qualified person has not verified the drilling data disclosed in this release, including sampling data and assay results. These data come from historical reports made between 1984 and 2013 by various parties. A three-month, two-phase, US$350,000 exploration program was initiated at Mojave by K2 in December 2019. Phase 1 is complete with results pending. Phase 2 will start in mid-January. The two...