K9 Gold drills 0.944 g/t gold over 20 metres at Stony Lake, Newfoundland
K9 Gold Corp. [KNC-TSXV; WDFCF-OTC] reported highly significant results from its 2021 drill program on its 100%-optioned Stony Lake project in the Exploits subzone gold belt in central Newfoundland. Results have recently been received from drill hole JP21-012, drilled on the Jumper’s Pond target.
DDH JP-012 intersected seven intervals of gold mineralization with six of the seven zones occurring over a core interval of 134 metres. The gold mineralization occurs in a steeply dipping structural zone and includes 2.58 g/t over a 3.1-metre core interval with a maximum grade of 4.34 g/t over a one-metre core interval. Other intervals included 18.10 metres of 0.968 g/t gold, 156.00 metres of 0.960 g/t gold, 3.10 metres of 2.579 g/t gold and 1.00 metre of 4.341 g/t gold.
The mineralized intervals exhibit a strong spatial association with an estimated 100 metres wide, near vertical dipping positive chargeability anomaly that can be traced for a horizontal distance of 3,000 metres in a northeast-southwest direction.
The mineralization intersected in DDH JP-012 correlates with several of the mineralized zone intersected in DDH JP-008.
The gold mineralization is in brecciated and shear zones within intermediate volcanic flows of the Lawrenceton Formation. The grades encountered in these wide zones are comparable with the reported mineral reserve grades from Marathon Gold’s Valentine Lake project. Both Valentine Lake and Stony Lake lie within the Exploits Subzone Gold District, along the Cape Ray/Valentine Lake structural trend.
Jeff Poloni, CEO, commented, “The chargeability anomaly tested by DDH JP-012 is interpreted to represent a broad hydrothermally altered zone containing six intervals of significant gold mineralization. The combination of the mineral associations, variable alteration, multiple host rocks and extensive strike length of the chargeability anomaly suggests the discovery of at least a 3km long hydrothermal system. K9 is eagerly waiting receipt for the gold analyses from 6 drill holes completed along strike of these mineralized intervals.
“It is extremely encouraging to encounter over 65 meters of gold mineralization through out JP21-012. The drill cores from the Jumper’s Pond drilling indicate significant post sedimentation re-activation and late-stage introduction of significant concentrations of sulphides and multiple zones of gold mineralization in sheared and brecciated Lawrenceton volcanics immediately south of Sokomon’s Moosehead gold deposit. Our exploration efforts have located suitable structural hosts exhibiting several factors that suggest potential for higher grade zones of gold mineralization along the shear zones.”
The weighted average grade for the intervals of significant gold mineralization is set out below.
K9 Gold acknowledges the financial support of the Stony Lake project by the Government of Newfoundland and Labrador, through the Department of Industry, Energy and Technology Junior Exploration Assistance Program.