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K9 Gold Reports 5.5 g/t Gold over 4.0 metres in Deliverance Trench at Stony Lake Project in Central Newfoundland, Submits Permit Application to Double Drill Program

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A series of chip samples were taken across a 5.4 metre zone on the top of the outcrop, perpendicular to the main vein, as well as one 4.0 metre composite sample collected along the strike of the vein, which returned 5.5 grams per tonne gold.

Additional Information:

Company: K9 Gold Corp
Website: http://www.k9goldcorp.com
Stock Symbol: TSXV: KNC
Date Published: Jun 24, 2021
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

K9 Gold Corp has reported highly encouraging results from its recent trenching program at its flagship Stony Lake project in central Newfoundland.

The company has an option to earn up to a 100% interest in the Stony Lake 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.

Excellent infrastructure exists on the project lands and in the surrounding area.

At the Deliverance trench, in the centre of the property approximately 15 kilometres southwest of Jumper's Pond, a 10 metre wide zone of moderate to intense oxidation was uncovered.

One major vein system was encountered along with several parallel minor veins.

Where exposed, the main vein varies from 0.10 to 0.25 metres wide, with crustiform/ginguro to sheeted quartz veining.

The vein, which trends at 128° and dips at -68° southwest, exhibits intense iron oxide oxidation and clay alteration, with 5 to 10% pyrite.

A series of chip samples were taken across a 5.4 metre zone on the top of the outcrop, perpendicular to the main vein, as well as one 4.0 metre composite sample collected along the strike of the vein, which returned 5.5 grams per tonne gold.

Jeff Poloni, CEO, stated: "The importance of the Deliverance discovery cannot be overstated, with it striking NW it seems to be a splay off a 6 km long NE structure. Similar parallel signatures occur at both Twin Ponds and Moonlight indicating excellent potential for additional discoveries."

Following up on the previous work has led to the interpretation of about 100 anomalies, at least ten of which are rated as high priority drill targets.

The company has applied to add an additional 5,000 metres to its current 5,000 metre drill program.

News releases from other companies active in the Central Newfoundland Gold Belt continue to increase the profile of this newly emerging gold district.

For example, on April 28, 2021 Sokoman Minerals announced a new discovery at South Pond on their Moosehead project, immediately adjacent to K9's Stony Lake property.

On May 4, 2021, New Found Gold announced an intercept of 124.4 g/t gold over 17.7 metres at their nearby Queensway property.

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

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 $0.54.

For more information, please visit the company’s website, www.k9goldcorp.com, call 1-833-434-GOLD (4653), contact Kosta Tsoutsis, Director, by email at kosta@k9goldcorp.com, or contact Brian Morrison, CFO, at brian@k9goldcorp.com.

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I’m Megan Edwards for Investmentpitch Media