K9 Gold reports 5.5 g / t Au over 4.0 m in the Deliverance trench at the Stony Lake project, Newfoundland; Submits a permit application for an increased drilling program

K9 Gold Corp. is pleased to report the very encouraging results of its recent trenching program. The company has also applied for a permit to increase its current drilling program from 5,000m to 10,000m. At the Deliverance Trench, in the center of the property, approximately 15 km southwest of Jumper’s Pond, a 10 m wide moderate to intense oxidation zone was discovered. A major venous system has been encountered with several …

K9 Gold Corp. (TSXV: KNC) (FSE: 5GP) (“K9” or the “Company”) is pleased to report the very encouraging results of its recent trenching program. The company has also applied for a permit to increase its current drilling program from 5,000m to 10,000m.

At the Deliverance Trench, in the center of the property, approximately 15 km southwest of Jumper’s Pond, a 10 m wide moderate to intense oxidation zone was discovered. A major venous system was also encountered with several parallel minor veins. When exposed, the main vein varies from 0.10 m to 0.25 m wide, with crustiform / ginguro to laminated quartz veins. The vein presents an intense oxidation of FeO and an argillaceous alteration, with 5 to 10% of pyrite. The vein is oriented at 128 ° and plunges at -68 ° SW. A series of chip samples were taken from a 5.4 m area at the top of the outcrop, perpendicular to the main vein, as well as a 4.0 m composite sample taken along the direction of the outcrop. vein. Samples were analyzed at Eastern Analytical in Springdale, NL, using the ICP-OES method after four acid digestion, with fire assays for Au.

Rescue Trench Sample Results
Sample ID Au (ppb) At g / t Length (m) comments
Samples taken along the direction of the vein
105057 5475 5.475 4.0 along the center of the vein
Samples taken through the direction of the vein
105020 1.3 splinters towards S, at 90 ° to the main vein
105021 9 1.0 splinters towards S, at 90 ° to the main vein
105022 546 0.055 0.75 chips in the sandstone, immediately S of the main vein
105023 1888 1,888 0.3 chips in the main vein, 10 cm qtz
105024 17 0.5 bursts immediately N principal of the vein
105025 9 0.9 chips, vfg – siltstone sandstone, N
105026 0.65 chips, vfg sandstone, no sulphides, to N
105058 1815 1.815 0.3 chips in the main vein, 2 m below the sample 105023

The Company has also requested approval for an additional 5,000 meters of diamond drilling in the Jumper’s Pond area of ​​the Project.

Jeff Poloni, CEO of K9 Gold, commented: “The significance of the discovery of Deliverance cannot be overstated, with its northwest direction it appears to be a splay of a 6 km long northeast structure. . Similar parallel signatures occur in both Twin Ponds and Moonlight, indicating excellent potential for further discoveries. “

Press releases from other companies active in Newfoundland’s central gold belt continue to raise the profile of this new emerging gold district. For example, on April 28, 2021, Sokoman Minerals announced a new discovery at South Pond on its Moosehead project, immediately adjacent to K9’s Stony Lake property. On May 4, 2021, New Found Gold announced an intersection of 124.4 g / t Au over 17.7 m in hole NFGC-20-59 on its nearby Queensway property.

K9 Gold acknowledges the financial support of the Stony Lake Project by the Government of Newfoundland and Labrador, through the Department of Industry, Energy and Technology’s Junior Exploration Assistance Program .

About the Stony Lake Project

The Stony Lake project is 100% owned by K9 Gold Corp. It is located in the Exploits subzone of the Cape Ray / Valentine Lake structural corridor in central Newfoundland, parallel to that of New Found Gold’s Queensway project, along prolific Dog Bay. Line. The project covers 13,625 ha and 27 kilometers of favorable trend between the Moosehead discovery of Sokoman immediately to the northeast and the Valentine Lake deposit of Marathon to the southwest. Excellent infrastructure exists on and around the project grounds.

At Stony Lake, ground prospecting and sampling led to the identification of seven large zones of high anomalous to low (up to 4.0 g / t Au) to high (> 4.0 anomalous gold mineralization). g / t Au). Following the prospecting work, a systematic exploration with an airborne and extensive geophysical sampling of the soil at the scale of the property, as well as two large IP ground geophysical survey grids, led to the interpretation of about a hundred Anomalies, at least ten of which are considered high priority drill targets.

A 5,000 meter drilling program is underway on the project.

About K9 Gold Corp

K9 Gold Corp has assembled a highly experienced and dynamic team to explore its Stony Lake project. The project was acquired by District Copper Corp through an option agreement, under which K9 can acquire up to 100% interest in the project (see company press release dated July 30, 2020). The Company also owns a 100% interest in the Desert Eagle Vanadium project located in the historic Henry Mountains mining district in southeastern Utah. The area has seen extensive historical mining of vanadium and uranium and is close to Anfield Energy Inc.’s Shootaring Canyon plant.

To ensure a safe work environment that protects the health and safety of employees and contractors, K9 Gold follows all mandated and recommended federal and provincial guidelines regarding COVID 19.

Chris M. Healey, P.Geo, Director of K9 Gold Corp., is the NI 43-101 Qualified Person who is responsible for the technical content of this version and consents to its publication.

Toll free number: (833) 434-GOLD (4653)

Kosta Tsoutsis
K9 Gold Corp.
email: [email protected]

Brian Morrison
Chief Financial Officer and Director
K9 Gold Corp.
email: [email protected]

The Company is listed on the TSX Venture Exchange.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking information disclaimer

Certain statements contained in this press release are forward-looking statements, which reflect management’s expectations regarding K9’s intention to continue to identify potential transactions and to make certain business changes and applications. Forward-looking statements consist of statements which are not purely historical, including statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties which may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do, what benefits K9 will derive from them. These forward-looking statements reflect the current views of management and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by forward-looking statements, including the inability of K9 to identify transactions on satisfactory terms or not at all and the results of exploring or examining the properties that K9 acquires. These forward-looking statements are made as of the date of this press release and K9 assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differ from those projected in forward-looking statements, except in accordance with applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/88482

Comments are closed.