- K2 Gold (TSXV:KTO) is expanding its drill program at the Mojave project in southern California
- The company has filed an amended plan of operations with the Bureau of Land Management, to add 30 additional drill sites to the project
- The company currently has permission for a helicopter assisted drilling program, but intends to reopen an old BHP road to allow access to other drill targets on the site
- K2 Gold is planning to sink 10 drill holes into the Dragonfly zone, 16 into the Newmont zone and 45 into the Central zone at Mojave
- K2 Gold (KTO) is up 17 per cent and is trading at C$0.36 per share
K2 Gold (TSXV:KTO) is expanding its drill program at the Mojave project in southern California.
The company submitted its revised plan to the Bureau of Land Management, proposing a helicopter supported drill permit to include as many as 30 additional sites.
The plan is predicated on the company reopening an old access road, built when the site was owned by BHP.
The announcement comes just a day after the company identified a new gold zone at the project, alongside outlining five new drilling targets at Mojave.
The majority of the planned drill work will test a couple of established targets on the site, the Dragonfly zone and the Newmont zone.
Dragonfly has returned historic assays of 3.84 grams per tonne gold over 12.19 metres, along with soil and rock samples of 4.2 grams per tonne over 42 metres.
The company intends to drill a further 10 holes into Dragonfly, in a shallow program totalling 420 metres of drilling length.
At Newmont, 16 drill sites totalling 630 metres of drilling are planned.
The Mojave project was a former BHP site. Before selling, the site was BHP’s last gold exploration project in the world.
The site was also BHP’s last owned asset in North America before it gave up the goose and moved away from active exploration work.
After identifying the new gold zone, the company’s stock bounced as high as 34 per cent yesterday, before closing at 19 per cent up.
K2 Gold (KTO) is up 17 per cent and is trading at C$0.36 per share at 1:45 pm EDT.