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Be the first with the news that moves the market- K2 Gold’s (TSXV:KTO) latest exploration program has identified a new gold zone and the Mojave project in southern California
- As well as a new gold zone, the program also outlined five new drilling targets
- The formerly BHP-owned property has returned good assays, including 15.2 grams per tonne of gold from soil samples
- During the program the company tested a total of 1,335 soil and 622 rock samples
- K2 Gold (KTO) is up 17 per cent and is trading at C$0.275 per share
K2 Gold’s (TSXV:KTO) latest exploration program has identified a new gold zone and the Mojave project in southern California.
The new gold zone was identified through a soil sampling campaign, which K2 believes is the north westerly extension of the site’s Dragonfly gold zone.
The Dragonfly Zone has returned some ground rock samples of 15.2 grams per tonne of gold, and trenching on the zone returned 2.5 grams per tonne over 4.6 metres.
The company has also identified five new targets through a multi-spectral remote survey on the property, two of these are more than a kilometre in length.
The site was formerly owned by the world’s largest mining company, BHP. The project spans 5,830 hectares, 240 kilometres north west of Last Vegas
K2’s wrapped up its preliminary exploration program at Mojave just before the coronavirus started to heavily impact the global mining Industry.
The company tested total of 1,335 soil and 622 rock samples at the site, alongside a 189-kilometre line magnetic survey.
K2’s President and CEO, Stephen Swatton said the new discovery was exciting and significant.
“The preliminary results have given the company new targets to follow up which have similar alteration footprints to known mineralization, two of the new anomalies are over one kilometre in length and have never previously been explored or sampled,” he said.
Stephen went on to say that the findings may result in the company extending the site’s strike by up to a further two kilometres.
K2 Gold (KTO) is up 17 per cent and is trading at C$0.275 per share at 2:04 pm EDT.
