K9 Gold drills 0.78 g/t gold 65.1 metres at Stony Lake, Newfoundland

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K9 Gold Corp. [KNC-TSXV; WDFCF-OTC] reported additional, multiple mineralized intervals from drilling on its Stony Lake project in the Exploits subzone gold belt in central Newfoundland. The analytical results reported in this news release are from the remaining drill holes completed on the Jumper’s Pond target completed to test the strike and dip extensions of the gold mineralization reported in JP21-012.

The mineralized zone intersected in JP21-012 has been extended approximately 100 metres along strike to the north. Mineralization is interpreted to occur along the axis of an anticlinal structure, in the footwall of a major fault zone and remains open along strike and at depth.

The mineralized intervals in four of the drill holes are open and additional sampling is required to determine the full extent of the gold mineralization. Higher grade samples include 5.09 g/t gold over 0.30 metres, 5.53 g/t over 0.50 metres in JP21-022 and 4.48 g/t over 0.30 metres in JP21-019. The mineralization exhibits a strong spatial correlation to a positive chargeability anomaly and is characterized by a quartz-pyrite-arsenopyrite-stibnite mineral association.

Hole JP21-022 intersected twelve intervals of gold mineralization including 65.1 metres averaging 0.78 g/t gold, from 98.5 to 163.6 metres downhole; and included in JP21-022 were intersections of 52.4 metres averaging 0.93 g/t gold (98.5 to 150.9m), 5.7 metres averaging 2.37 g/t gold (98.5 – 104.2 m), 18.85 metres averaging 1.22 g/t gold (121.3 – 140.15m) and 1.70 metres averaging 3.17 g/t gold (129.3 – 121.0 m).

Jeff Poloni, CEO, commented, “The drilling completed to follow-up the mineralization intersected in JP21-012 has established continuity of the mineralized zone along strike and at depth. The average grade and thickness of the mineralized intervals suggest that K9 has discovered a potential large tonnage, low grade style of gold mineralization. The mineral associations, variable alteration, multiple host rocks and correlation to an IP chargeability anomaly identified in JP21-012 are consistent with observations on the drill holes reported in this news release. The correlation with the chargeability anomaly outlined in the 2021 geophysical survey suggests a potential target of at least a 3 km long.

“The analytical results combined with the drill core descriptions have better informed our understanding of the location and structural controls on the gold mineralization and potential size of the exploration target to be explored. The additional sampling to define the limits of the gold mineralization reported in this news release is expected to get underway immediately. With the success of this phase, we are reviewing a plan to increase drilling to 20,000 metres.”

The Stony Lake property lies within the Exploits Subzone Gold Belt of the Cape Ray/Valentine Lake structural trend in Central Newfoundland, lying parallel to that of New Found Gold’s Queensway project, along the prolific Dog Bay Line. The project covers 13,625 hectares and 27 km of favorable trend between Sokomon’s Moosehead discovery immediately to the northeast and Marathon’s Valentine Lake deposit to the southwest. Excellent infrastructure exists on the project lands and in the surrounding area.

At Stony Lake, ground prospecting and sampling has led to the identification of seven broad areas of highly anomalous to low grade (up to 4.0 g/t gold) to high grade (over 62;4.0 g/t gold) gold mineralization. Following up on the prospecting work, systematic exploration with property-wide airborne geophysical and extensive soil sampling, plus two large grids of IP ground geophysical survey, has led to the interpretation of about 100 anomalies, at least 10 of which are high priority drill targets.

K9 Gold can earn a 100% interest in the Stony Lake project from District Copper Corp. [DCOP-TSXV; CAXPF-OTC]. K9 Gold also owns a 100% interest in the Desert Eagle vanadium-uranium project in the historic Henry Mountains Mining District in SE Utah.


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