Business
West Melville Metals Changes Name to K2 Gold Corporation
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 1, 2016) - West Melville Metals Inc. ("West Melville" or the "Company") (TSX VENTURE:WMM) is pleased to announc
About this update from K2 Gold Corporation
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 1, 2016) - West Melville Metals Inc. (\"West Melville\" or the \"Company\") (TSX VENTURE:WMM) is pleased to announce that it is changing its name to \"K2 Gold Corporation\" effective November 2, 2016 pursuant to the Articles of the Company and as approved by the Company's board of directors on July 11, 2016. The Company's common shares will commence trading on the TSX Venture Exchange under the new name at the opening of trading on November 2, 2016 under the symbol \"KTO\". About West Melville Metals Inc. As disclosed in the news release dated October 27, 2016, the Company recently entered into an option agreement with Gorilla Minerals Corp. (\"Gorilla\") to acquire a 90% joint venture interest (subject to an existing 3% NSR) in the Wels gold property. The Wels gold property is a new discovery located approximately 50km east of Beaver Creek and 180km south of Dawson City, west central, Yukon in the Traditional Territory of White River First Nation (the \"WRFN\"). The area comprises 229 contiguous 'quartz claims' covering an area of approximately 4,788 hectares. Wels is located within the prolific Tintina Gold Province that stretches over 1,500km from western Alaska to eastern Yukon and is host to a variety of styles of gold and base metal mineralization. Preliminary studies indicate the mineralization is of Intrusive Related Gold System type (\"IRGS\") similar in style to the multi-million ounce Fort Knox and Dublin Gulch (Eagle) deposits One Rock sample collected directly beneath anomalous soil samples returned 149.5 g/t gold (4 other samples from the same location returned 17.7 g/t, 24.0 g/t, 3.1 g/t and 28.6 g/t) Trenching results returned 8.8 g/t gold over 45.0m including 9.15 g/t gold over 40.5m A five hole 442m drill program in 2015 returned gold mineralization in all holes. Hole DDH01 recorded 0.76 g/t over 97.5m (end of hole and not true width) An exploration program has been submitted by the Company for approval by White River First Nations and the Yukon Government for the 2017 season In conjunction with the Wels property transaction, the Company has completed its previously announced non-brokered private placement of 8.0 million units at a price of $0.25 per Unit, for gross proceeds of $2.0 million John Robins Chairman of West Melville stated, \"The Wels gold project is ...