Highest Grade Gold Sample Collected At The Mojave Project

Highest Grade Gold Sample Collected At The Mojave Project

VANCOUVER – K2 Gold Corporation reported on rock grab and chip sampling at its Mojave Project, located in Inyo County, California. Sampling at the Gold Valley target located on the east side of the property returned grab samples of 208 g/t (6.7 oz/t) gold and 32.1 g/t gold from initial prospecting. Gold Valley is located 1.5km north-northwest along the same structure as the Dragonfly target, a high-grade gold zone which K2 successfully drilled in 2020 with a highlight result of 86.9m of 4.0 g/t gold from surface.

“The sample collected at Gold Valley is the highest-grade rock sample ever collected on the Mojave Project by a significant margin, the overlimit copper results at Soda Canyon are also very exciting to see. The expanse of high-grade near surface mineralization at Mojave displays the signature characteristics of a remarkable deposit. The combination of these recent samples and previous drill results expanding the strike length over 4.5km suggests significant scale and the possible continuity of high-grade gold far beyond our original expectations,” stated Anthony Margarit, CEO of K2 Gold. “As we continue with the EIS permitting process, we look forward to generating more exciting results at these new extensions.”

As K2 continues to progress favourably through the EIS permitting process, the decision was made to continue fundamental prospecting and sampling to continue to develop the knowledge and understanding of the extensive mineralization present on the property in preparation for future exploration. A total of 119 rock and chip samples were collected at multiple targets over two campaigns, with a focus on the Gold Valley and Soda Canyon targets, and with minor sampling conducted at the Stega and Morning Star targets. Sampling returned values from trace to 208 g/t gold and trace to 4.11% copper.

Initial results from prospecting at Gold Valley suggest the presence of high-grade Dragonfly-style sediment-hosted gold mineralization at surface in an area of the Property that has seen little to no modern exploration.

Highlight rock samples grading 208 g/t Au and 32.1 g/t Au are found along the projection of a mapped fault extending north-northwest from the Dragonfly target, where K2’s drilling in 2020 returned 86.9m grading 4.0 g/t Au from surface. The results from Gold Valley expand the strike length of high-grade mineralization corridor an additional 1.5km, to a total extent of more than 4.5km.

Prospecting was also completed at the Soda Canyon target located in the northwest of the Project area, 4km west of Gold Valley. Rock sampling returned three samples with Copper values greater than 1%, with one sample grading 1.87% Copper and the remaining two samples pending overlimit assay results.

Soda Canyon is found at the northwestern end of a greater than 6km NNW-SSE trend of sediment-hosted copper mineralization beginning at the Stega target in the south, where K2 collected samples with results from trace to 14.2% Copper in 2021. Very little exploration has been completed in the Soda Conyon target area, and to the knowledge of K2’s Management team it has never been drilled.

Seven rock samples collected in the vicinity of the Stega copper zone returned trace to 0.741 g/t gold and trace to 0.23% Copper. A due diligence sample collected from the Morningstar target area 2.7km northwest of Soda Canyon returned 37.66 g/t silver, 4.11% copper, 1.57% lead, and 1.95% zinc. Follow-up prospecting, sampling, and geological mapping is planned for the 2024 season. More information on 2024 plans will be provided in the near future.