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K9 Gold received results from till sampling survey carried out on its Stony Lake project, central Newfoundland

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The survey’s objective was to identify targets for the upcoming 2021 field season, which includes drilling and an additional program of till sampling to cover areas with little previous work.

Additional Information:

Company: K9 Gold Corp
Website: http://www.k9goldcorp.com
Stock Symbol: TSXV:KNC
Date Published: Feb 25, 2021
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

K9 Gold Corp received results from an orientation till sampling survey carried out on its Stony Lake project, central Newfoundland.

The company has an option to earn up to a 100% interest in the Stony Lake East Project, which lies within the Cape Ray/Valentine Lake structural trend in Central Newfoundland, lying parallel to that of New Found Gold’s Queensway project, along the prolific Dog Bay Line.

The project covers 13,625 hectares and 27 kilometers of favorable trend between Sokoman’s Moosehead discovery to the northeast and Marathon's Valentine Lake deposit to the southwest.

The survey’s objective was to identify targets for the upcoming 2021 field season, which includes drilling and an additional program of till sampling to cover areas with little previous work.

Till sampling is a cost effective technique to evaluate large areas which to date have received minimal ground coverage.

Traverses will be established at 1-kilometre intervals with samples taken every 250 metres.

Several areas of interest were identified which correlate well with previous exploration work, including zones defined by prospecting and areas defined by airborne geophysical surveys.

Seventy-six samples, including 2 duplicate samples, of between 10 to 12 kilograms of C-horizon basal till were collected from hand-dug pits, typically less than 1 metre deep.

These samples were processed by Overburden Drilling Management of Nepean, Ontario, to determine gold grain contents, with results showing visible gold grains in all but 7 of the 76 samples collected.

This included 14 samples of greater than 10 grains and 3 samples of greater than 20 grains of gold.

Geochemical analysis was performed on the non-magnetic Heavy Mineral Concentrate by Actlabs, of Ancaster, Ontario, with results showing that 42%, or 32 out of the 76 samples returning gold values of greater than 500 parts per billion, including 5 samples with values greater than 5,000 parts per billion up to a maximum 17,900 parts per billion gold.

The results correlate well with previous work, in particular the sample with 17,900 parts per billion from the Rabbit Tracks area, located very close to a cluster of high grade boulders with up to 6.3 grams per tonne gold.

In addition, a broad area of elevated gold in tills in the Jumper's Pond area correlates well with an area previously identified as a high priority target from the recently reported VTEM survey.

The Central Newfoundland Gold Belt continues to attract investor interest as a newly emerging gold district following significant results such as the hole reported by Sokoman Minerals at its Moosehead project adjacent to K9’s Stony Lake property.

Sokoman’s hole 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 Found Gold announced intercepts of 45.3 grams per tonne gold over 13.1 metres and a second hole with 25.0 grams per tonne gold over 16.9 metres at their nearby Queensway property.

Management cautions that mineralization on nearby properties may not be indicative of mineralization on its property.




In other news, K9 Gold appointed Chris M. Healey, P.Geo. as a Director, replacing Alex Helmel.

Mr. Healey brings more than 50 years of experience in the natural resources industry, covering all aspects, from early stage exploration through development to production.

Beginning his career with International Nickel Company, now Vale Limited, he went on to work with Cameco Corporation, one of the world's largest uranium producers.

More recently, Mr. Healey was President & CEO of Titan Uranium Inc. as well as previously serving as the national president for the Geological Society of Canadian Institute of Mining, Metallurgy and Petroleum.

Jeff Poloni, CEO, stated: "I would like to thank Alex for his help in moving the company forward and wish him continued success. I am extremely excited to have Chris come on board; his wealth of knowledge and experience will assist K9 in the next phase of exploration at Stony Lake."

The company also owns a 100% interest in the Desert Eagle Vanadium project located in the historic Henry Mountains Mining District in southeast Utah, close to Anfield Energy’s Shootaring Canyon Mill, in an area that has seen extensive historic vanadium and uranium mining.

The shares are trading at $0.35.

For more information, please visit the company’s website, www.k9goldcorp.com, contact Kosta Tsoutsis, Director, at 604-808-9134 or email kosta@k9goldcorp.com, or contact Brian Morrison, CFO, at 604-312-6910 or email brian@k9goldcorp.com.

I’m Cassandra Bolinski for Investmentpitch Media