K9 Gold Corp has obtained outcomes from an orientation until sampling survey carried out on its Stony Lake undertaking, central Newfoundland. The corporate has an choice to earn as much as a 100% curiosity within the Stony Lake East Challenge, which lies throughout the Cape RayValentine Lake structural pattern in Central Newfoundland, mendacity parallel to that of New Discovered Gold’s Queensway undertaking, alongside the prolific Canine Bay Line. The undertaking …
K9 Gold Corp (TSXV: KNC) (FSE: 5GP) has obtained outcomes from an orientation until sampling survey carried out on its Stony Lake undertaking, central Newfoundland. The corporate has an choice to earn as much as a 100% curiosity within the Stony Lake East Challenge, which lies throughout the Cape RayValentine Lake structural pattern in Central Newfoundland, mendacity parallel to that of New Discovered Gold’s Queensway undertaking, alongside the prolific Canine Bay Line. The undertaking covers 13,625 hectares and 27 kilometers of favorable pattern between Sokoman’s Moosehead discovery to the northeast and Marathon’s Valentine Lake deposit to the southwest.
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The survey’s goal was to establish targets for the upcoming 2021 discipline season, which incorporates drilling and a further program of until sampling to cowl areas with little earlier work. Until sampling is a price efficient approach to guage massive areas which up to now have obtained minimal floor protection. Traverses will likely be established at 1-kilometre intervals with samples taken each 250 metres.
A number of areas of curiosity have been recognized which correlate nicely with earlier exploration work, together with zones outlined by prospecting and areas outlined by airborne geophysical surveys. Seventy-six samples, together with 2 duplicate samples, of between 10 to 12 kilograms of C-horizon basal until have been collected from hand-dug pits, usually lower than 1 metre deep. These samples have been processed by Overburden Drilling Administration of Nepean, Ontario, to find out gold grain contents, with outcomes displaying seen gold grains in all however 7 of the 76 samples collected. This included 14 samples of higher than 10 grains and three samples of higher than 20 grains of gold.
Geochemical evaluation was carried out on the non-magnetic Heavy Mineral Focus by Actlabs, of Ancaster, Ontario, with outcomes displaying that 42%, or 32 out of the 76 samples returning gold values of higher than 500 components per billion, together with 5 samples with values higher than 5,000 components per billion as much as a most 17,900 components per billion gold. The outcomes correlate nicely with earlier work, specifically the pattern with 17,900 components per billion from the Rabbit Tracks space, positioned very near a cluster of excessive grade boulders with as much as 6.3 grams per tonne gold.
As well as, a broad space of elevated gold in tills within the Jumper’s Pond space correlates nicely with an space beforehand recognized as a excessive precedence goal from the just lately reported VTEM survey.
The Central Newfoundland Gold Belt continues to draw investor curiosity as a newly rising gold district following important outcomes corresponding to the outlet reported by Sokoman Minerals at its Moosehead undertaking adjoining to K9’s Stony Lake property. Sokoman’s gap 20-115 reported 2 zones with 47.2 grams per tonne gold over 4.6 metres and 68.3 grams per tonne gold over 8.1 metres. In December, New Discovered Gold introduced intercepts of 45.3 grams per tonne gold over 13.1 metres and a second gap with 25.0 grams per tonne gold over 16.9 metres at their close by Queensway property. Administration cautions that mineralization on close by properties might not be indicative of mineralization on its property.
In different information, K9 Gold appointed Chris M. Healey, P.Geo. as a Director, changing Alex Helmel. Mr. Healey brings greater than 50 years of expertise within the pure sources trade, overlaying all elements, from early stage exploration via growth to manufacturing. Starting his profession with Worldwide Nickel Firm, now Vale Restricted, he went on to work with Cameco Company, one of many world’s largest uranium producers. Extra just lately, Mr. Healey was President & CEO of Titan Uranium Inc. in addition to beforehand serving because the nationwide president for the Geological Society of Canadian Institute of Mining, Metallurgy and Petroleum.
Jeff Poloni, CEO, said: “I wish to thank Alex for his assist in shifting the corporate ahead and need him continued success. I’m extraordinarily excited to have Chris come on board; his wealth of data and expertise will help K9 within the subsequent part of exploration at Stony Lake.”
The corporate additionally owns a 100% curiosity within the Desert Eagle Vanadium undertaking positioned within the historic Henry Mountains Mining District in southeast Utah, near Anfield Power’s Shootaring Canyon Mill, in an space that has seen in depth historic vanadium and uranium mining.
For extra info, please go to the corporate’s web site, www.k9goldcorp.com, contact Kosta Tsoutsis, Director, at 604-808-9134 or e mail firstname.lastname@example.org, or contact Brian Morrison, CFO, at 604-312-6910 or e mail email@example.com.
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Barry Morgan, CFO
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