- K9 (KNC) has intersected seven intervals of gold mineralization at its Stony Lake Project in Newfoundland
- Hole JP21-012 encountered all seven intervals, which graded up to 4.34 g/t gold over 1 m
- The company has identified the potential for higher-grade gold south of Sokoman’s nearby Moosehead gold deposit
- K9 Gold is a mineral exploration company with interests in Utah and Newfoundland
- K9 (KNC) is up by 30.56 per cent trading at $0.235 per share
K9 (KNC) has intersected seven intervals of gold mineralization at its Stony Lake Project in Newfoundland.
The project lies within the Exploits Subzone Gold Belt in the Cape Ray/Valentine Lake structural trend.
Hole JP21-012, drilled on the Jumper’s Pond target, encountered all seven intervals. Grades range from 2.58 g/t gold over 3.1 m up to 4.34 g/t gold over 1 m.
The intervals exhibit a strong spatial association with an estimated 100 m-wide, near-vertical dipping positive chargeability anomaly traced horizontally over 3,000 m in a northeast-southwest direction.
Drill cores also indicate multiple zones of gold mineralization in sheared and brecciated Lawrenceton volcanics immediately south of Sokoman’s Moosehead gold deposit. The company has located structural hosts suggesting the potential for higher-grade gold zones along these shear zones.
Weighted average grades of Jumper’s Pond gold mineralization
“The chargeability anomaly tested by DDH JP-012 is interpreted to represent a broad hydrothermally altered zone containing six intervals of significant gold mineralization,” stated Jeff Poloni, CEO of K9 Gold. “The combination of the mineral associations, variable alteration, multiple host rocks and extensive strike length of the chargeability anomaly suggests the discovery of at least a 3 km hydrothermal system.”
“K9 is eagerly waiting receipt for the gold analyses from 6 drill holes completed along strike of these mineralized intervals,” he added.
K9 Gold is a mineral exploration company with interests in Utah and Newfoundland.
K9 (KNC) is up by 30.56 per cent trading at $0.235 per share as of 10:14 am EST.