K2 Gold discovers new gold zone at Mojave Project, California

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K2 Gold Corp. [KTO-TSXV; KTGDF-OTCQB] reported preliminary results from its 2021 exploration program from the 100%-optioned Mojave Project in Southern California. A total of 279 prospecting chip and grab samples were collected on the Mojave’s Eastern target area: Gold Valley, Dragonfly, Remi, Newmont and Flores. Individual assays for the samples returned up to 23.4 g/t gold.

Highlights include Dragonfly where there was the discovery of new, subparallel zone of mineralization with rock samples up to 14.5 g/t gold. There was an extended strike extent of Newmont fault by additional 350 metres. The strike extent of the Newmont zone is now over 1.1 kilometres. At Flores, there was a discovery of two east-west and one northwest-oriented zone of mineralization with assays up to 23.4 g/t gold, 5.34 g/t gold and 11.1 g/t gold; respectively.

“We are very pleased to report the discovery of a new, subparallel zone of gold mineralization approximately 300 metres west of last year’s drill program,” stated Stephen Swatton, president and CEO. “These results continue to highlight the potential for near-surface high-grade oxide gold across multiple zones. We look forward to advancing Mojave to the next phase of drilling later this year upon receipt of the necessary approval documents from the Bureau of Land Management.”

A total of 279 rock chip and grab samples were collected across the Eastern target. Assays for the samples returned values from trace to 23.4 g/t gold. Sampling focused on five target areas including: Gold Valley, Dragonfly, Remi, Newmont and Flores.

Gold Valley is located along the northern projection of the CMFS, approximately 600 metres north of the Dragonfly target. Twenty samples were collected on the target with the most significant results (up to 0.297 g/t gold). The anomalous gold results demonstrate continuity of the mineralized system north from the Dragonfly.

The Dragonfly is located 600 metres south of Gold Valley and consists of approximately 500 metres of structurally controlled alteration and mineralization that consistently returns surficial samples >1 g/t gold and has anomalous mineralization extending over 1km on trend to the south towards the Remi target. Recent RC drilling on the Dragonfly returned significant results including DF20 – 002: 86.9m of 4.0 g/t gold; incl. 45.7m of 6.7 g/t gold and DF20-004: 30.5m of 7.2 g/t gold; incl. 15.2m of 11.1 g/t gold; both from surface.

The company has initiated a 1,036 line-km heliborne VTEM EM-Resistivity survey.

K2 is a well-financed gold exploration company with approximately C$6 million.


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