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K2 Gold completes Phase 1 Drilling Program at Mojave and samples New Large Regional Target

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The Mojave project spans 5,830 hectares and is located 240 kilometers north west of Las Vegas and 30 kilometers south east of the town of Lone Pine. The Phase 1 drilling campaign consisting of 2,540 meters over 17 reverse circulation holes was completed on the Eastern side of the property.

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Additional Information:

Company: K2 Gold
Website: http://www.K2gold.com
Stock Symbol: TSXV: KTO
Date Published: Nov 16, 2020
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

K2 Gold has completed the Phase 1 drilling program at its Mojave project.

The Mojave project spans 5,830 hectares and is located 240 kilometers north west of Las Vegas and 30 kilometers south east of the town of Lone Pine.

The Phase 1 drilling campaign consisting of 2,540 meters over 17 reverse circulation holes was completed on the Eastern side of the property.

The drilling program focused on the Dragonfly and Newmont target areas; two gold rich zones within a 4.5 kilometer strike length of known mineralization, with the deepest hole drilled to a vertical depth of 201 meters.

Positive results from the first phase of drilling will provide support for an expanded second phase of drilling.

The permitting document for the larger program is well advanced and will be submitted to the Bureau of Land Management by December.

All historic holes drilled by Newmont and BHP within the Newmont and Dragonfly targets intersected alteration and anomalous gold mineralization.

Highlights for the historic BHP drilling at Dragonfly are shown in this table.

Stephen Swatton, President and CEO, stated: “We are pleased to have completed this initial drilling program at Mojave, the first such program since the project was successfully drilled by BHP in 1997. Initial assay results are expected within the next month. “The results from the first phase of drilling will lay the groundwork for a larger exploration program. An application for a modified Plan of Operations utilizing an existing reclaimed exploration road for the second phase of drilling is expected to be submitted to the Bureau of Land Management by December.”

The drilling was conducted from four sites: two on Dragonfly (“DF-1” and “DF-2”) and two on Newmont (“NM-1” and “NM-2”).

A total of 8 holes were completed on the Dragonfly and 9 holes on the Newmont with the drilling designed to evaluate the extent of mineralization intercepted in the historic Newmont and BHP drill programs.

Positive results from the first phase of drilling will provide support for an expanded second phase of drilling.

The permitting document for the larger program is well advanced and will be submitted to the Bureau of Land Management by December.

A systematic rock chip sampling program was also conducted across the Upland Valley area, located in the centre of the Mojave property, 1.7 kilometers west of the Newmont target and adjacent to the Stega target on the western margin of the property.

The sampling was conducted to follow up on previously identified alteration and iron-oxide anomalies which were recognized from recently acquired World View-3 remote sensing imagery.

K2 Gold is well-financed with approximately $2 million in the treasury and a total of five gold projects in the Yukon, Alaska, and California.

The shares are trading at $0.56.

For more information, please visit the company’s website www.K2gold.com, contact investor relations at 604-354-2491 or by email at info@K2gold.com.

K2 Gold is a member of the Discovery Group of companies..



I’m Megan Edwards for Investmentpitch Media