Source: AZoMining.com
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • K9 Gold (KNC) completed 24 holes over 6,865 metres of drilling in its 2021 exploration program
  • 18 of those holes were drilled in the Jumper’s Pond area, three at the Deliverance prospect, and three in the Moonlight area
  • Analytical results for all three areas are pending; however, the company is excited on the initial results from this latest drilling
  • K9 Gold is a mineral exploration and development company engaged in the identification, acquisition, and exploration of mineral interests
  • Shares in K9 Gold Corp. (KNC) are steady, trading at $0.19 per share

K9 Gold (KNC) has completed 24 holes of drilling over 6,865 metres in its 2021 exploration program.

Drilling indicated that Stony Lake, located in the Exploits Subzone Gold Belt of central Newfoundland, hosts multiple targets with mineralized potential in the Lawrenceton Volcanics below the Botwood sediments.

Of the 24 holes drilled in the 2021 program, 18 of those were drilled in the Jumper’s Pond area of the property, three at the Deliverance prospect, and three in the Moonlight area.

After one hole, JP21-012, returned average grades of 1.03g/t gold over a core interval of 7.9 metres, K9 completed detailed follow-up drilling in its vicinity.

Each of the tightly spaced drill holes following up on the intersection in JP21-012 has intersected multiple zones of shearing/faulting, as well as multiple occurrences of volcanic breccias, which could be indicative of late-stage hydrothermal activity.

At the Deliverance prospect, two short holes were drilled to intersect the down dip extension of an exposed mineralized vein, and a third hole was targeted on a major northeast-trending structural zone.

The Moonlight prospect covers a large area in the centre of the Stony Lake project, where previous prospecting discovered multiple boulder clusters with gold contents in the 1-2 g/t range over a wide area.

Soil samples taken from the Moonlight area returned anomalous gold and arsenic concentrations that indicate that there could be a broad zone of gold mineralization at depth.

Analytical results for all three areas are pending.

“Like every other company working in Newfoundland, we are quite frustrated with delays in getting analytical results,” said K9 chief geologist Chris Healey. “This speaks volumes to the excitement generated in the Exploits Subzone Gold Belt and the shear volume of drill core samples being submitted which have inundated laboratories across Canada.”

K9 Gold is a mineral exploration and development company engaged in the identification, acquisition, and exploration of mineral interests.

Shares in K9 Gold Corp. (KNC) are steady, trading at $0.19 per share as of 9:32 am EST.

More From The Market Herald
Superior Gold - Director, Michael Pesner.

" Superior Gold (TSXV:SGI) nominates new director

Superior Gold (SGI) has filed a management information circular for its annual general meeting.

" Sulliden Mining Capital (TSX:SMC) acquires securities of Xander Resources

Sulliden Mining Capital (SMC) acquired 7,142,857 units of Xander Resources in a private placement.

" Eastern Platinum (TSX:ELR) updates technical report on Crocodile River Mine

Eastern Platinum Limited (ELR) has filed a Technical Report on the Crocodile River Mine (CRM), North West Province in South Africa.