Source: K2 Gold Corporation
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • K2 Gold Corp. (KTO) announced that a ground-based magnetic and very low frequency electromagnetic geophysical survey was successfully completed at its Wels project
  • A total of 60.73 line-km of ground was surveyed, with multiple VLF-EM anomalies successfully delineated including several previously unidentified trends
  • A new target area, Matcha, was identified and was coincident with high-tenor gold-in-soil results of up to 202 ppb Au
  • K2 Gold Corporation (KTO) is unchanged trading at $0.21 per share as of 12:25 p.m. ET

K2 Gold Corp. (KTO) announced that a geophysical survey has been completed at its Wels project.

The ground-based magnetic and very low frequency (VLF) electromagnetic (EM) geophysical survey was designed to collect geophysical data over previously drilled mineralization at the Saddle Zone.

The survey covered three high priority gold-in-soil and rock anomalies on the property to identify possible controlling structures in areas of extensive surficial cover.

A total of 60.73 line-km of ground was surveyed, with multiple VLF-EM anomalies successfully delineated, including several unidentified trends with coincident rock and soil geochemical anomalism; an entirely new exploration target in the southwest of the property was also identified throughout the survey.

A new target area, Matcha, was identified 2km to the southwest of the Saddle Zone. Northwest-trending VLF anomalies in the Matcha area are coincident with high-tenor gold-in-soil results of up to 202 ppb Au.

Source: K2 Gold Corp.

K2’s President and CEO, Anthony Margarit stated that summer 2022 was planned as a season of drill target generation for K2 at the Wels project.

“The VLF survey has produced the results we hoped it would, with the survey successfully identifying what we interpret as controlling structures at each of our known target areas. Additionally, the survey also delivered a welcome surprise – identifying a VLF anomaly at a previously unexplored target 2km southwest of the Saddle Target which we have named Matcha.

We have confirmed our previous interpretation of a general northwest structural control to mineralization at Wels, and the survey delivered a level of resolution beyond our expectations, outlining multiple new targets for 2023 in areas that have never been drilled.

We now have geophysical anomalies corresponding with highly anomalous soil and rock geochemical responses at multiple locations on the property. This new geophysical data brings an additional level of confidence in drill target selection and will assist in refining final collar locations when it comes time to drill these exciting targets.”

K2 Gold Corp. (KTO) is a gold exploration company with projects in SW USA and Yukon.

K2 is focused on the Mojave property in California, and the Si2 project in Nevada, along with the Wels project in Yukon. Mojave is a 58.3 sq. km. oxide gold project with base metal targets.

The property has undrilled locations with gold enriched historical trench results including one at the Flores zone which recorded 8.4 g/t gold over 25.6 metres.

K2 Gold Corporation (KTO) is unchanged trading at $0.21 per share as of 12:25 p.m. ET.


More From The Market Herald
Desert Mountain Energy - CEO, Robert Rohlfing.

" Desert Mountain Energy (TSXV:DME) completes testing at McCauley Helium Processing Facility

Desert Mountain (DME) has completed testing at its McCauley Helium Processing Facility in Arizona.

" StrategX (CSE:STGX) confirms new discovery at Nagvaak project

StrategX Elements (STGX) finds new energy transition metals from drill hole 14, in target area one of the Nagvaak project in Nunavut.

" Golden Goliath (TSXV:GNG) completes drill holes at its Wish Ore Property

Golden Goliath Resources (GNG) has completed drilling holes at its Wish Ore Project.

" Freegold (TSX:FVL) intersects high-grade gold

Freegold Ventures Limited (FVL) shared the gold results from an additional seven holes done for its drill program on the Golden Summit Project.