Hits High-Grade Surface Gold At Mojave
K2 Gold Corporation (TSXV: KTO) has received positive assays for the final five reverse circulation (RC) holes drilled at the Dragonfly zone, located within its 100% owned Mojave property in Southern California.
In total eight Dragonfly zone holes were drilled from two sites 236m apart: holes DF20-001, through 004 were drilled at site DF1 and holes DF20-005 through 008 from site DF2.
Highlight hole, DF20-004, intersected 30.5m of 7.2 g/t gold from surface, including 15.2m of 11.1 g/t gold.
One hole at site DF1 (holes DF20-004) and all four holes at site DF2 (DF20-005 through 008) were successful in intersecting gold mineralisation but were terminated prior to target depth due to difficult drilling conditions resulting from the highly fractured and silicified nature of the rocks.
President and CEO, Stephen Swatton, said the Dragonfly results confirm the broad intervals of gold mineralisation reported from previous drilling by BHP and demonstrates strong continuity at Dragonfly along strike.
In total the drill programme at Mojave comprised 17 reverse circulation holes (2,540m of chip samples) from two zones, the eight holes from Dragonfly plus an additional nine holes at the Newmont zone located two km apart from Dragonfly on the same structural trend. Assay results from the nine holes drilled at the Newmont are pending.
The nature of the gold mineralization at Mojave is becoming better understood and is interpreted to be high-level and intrusive related with strong structural controls, hosted within a variety of Permian-Triassic calcareous sediments, similar to other porphyry – epithermal systems throughout the Walker Lane trend.
“The second set of drill results from our flagship Mojave project continues to highlight the potential for near surface high-grade oxide gold resource definition,” Mr Swatton said.
“Despite being unable to reach the target depths from the second platform due to difficult drilling conditions, significant gold intercepts were encountered demonstrating the robust nature of the mineralised horizon; this is very encouraging news.
“We look forward to receiving the outstanding assay results from the remaining nine drill holes at the Newmont target, two kilometres south of Dragonfly.”
