TSX KTO
LAST 0.39
CHANGE -0.01
TSX KTO
LAST $0.39
CHANGE -0.01

Snapshot

  • Details
  • Geology

Wels is a new IRGS gold discovery in a previously unrecognized mineral district 60km south of Goldcorp’s 2.2 Moz Coffee deposit. Its mineralization is attributed to IRGS (granite intrusive) deposits akin to the >6 million-ounce Fort Knox and Dublin Gulch in the prolific Tintina Belt of Alaska and Yukon. The area comprises 229 contiguous ‘quartz claims’ covering an area of approximately 4,788 hectares. High grade rock samples close to surface have been found in 3 adjacent zones over 2 x 4km zone but to date, only 20% of the property has been explored in any detail. Wels has only seen one drill program (2015) during which a total of 445 metres were drilled.

Good infrastructure: Located 20km east of a disused airstrip which is connected to the main Alaska highway near Beaver Creek.

Positive Relationships: Located in the traditional territory of White River First Nation with which K2 has a cooperative relationship.

Environmental Considerations: The exploration site is 7km NW of Wellesley Lake and 5km East of White River. K2 is committed to ensuring the highest quality of work and monitoring in keeping with the company’s commitment to responsible exploration.

  • Highlights to Date
  • Rock sampling - 28 samples collected including several under a high-grade soil profile Highest grades 149.5 g/t (single sample) and 5 samples averaged 5.2 g/t
  • Trenching - 104 samples collected in 155m of trenches with highest intersection 8.8g/t over 40m including 9.15 g/t over 40.5m
  • Drilling - 442m drilling from 2 pads 50m apart returned mineralization in each hole including 97.5m @ 0.76 g/t, including 3.11g/t over 19.5m, 5.71g/t over 9m (visible gold seen)
    • Mineralization still seen at the bottom of hole 1 (~80m true depth)
  • Soil sampling - 1,658 samples taken. Soil sampling has been the most useful exploration method to define mineralized zones and samples. Analysis was done for Au and multi-element ICP. Gold at Wels has an affinity for Ag, As, Bi and Sb
Wels and Nickel Properties Map

Wels Timeline

Preliminary studies indicate the host rocks are reduced IRGS (Intrusion related gold system) that intruded a raft of Selwyn Basin-related rocks within the prospective Tintina Gold Province (TGP).

  • Host rocks to the mineralization are a reduced granite, similar to the Tombstone Suite intrusions located in the Selwyn Basin. Examples of this type of granitoid intrusion are:
  • Dublin Gulch (Victoria Gold) 6.3 Moz global resource incl. 2.6 Moz P+P @ 0.68 g/t,
  • Fort Knox (Kinross) >6 Moz mined historically and 0.9 Moz @ 0.42 g/t remaining
  • Ryan (Gold Run Ltd) 0.8 Moz @ 0.47 g/t
  • Shotgun (TNR) 0.71 Moz @ 1.06g/t
  • Red Mountain (IDM) 0.5 Moz (Measured and Indicated) - 8.36 g/t
  • Scheelite Dome, Clear Creek, Ida-Ora (Exploration projects)

Other deposits that are considered of a similar general type but not directly related are Donlin Creek - 32 Moz 2.91g/t and Pogo - 5.6 Moz at 12.5 g/t The property is located above the historic glaciation level therefore the soils have not experienced regolith disruption
3 mineralized zones discovered to date at Wels: Saddle, Northwest Ridge, and the Southwest Spur.

Tintina Gold Province Regional Map

All figures are from company / public sources and are not broken down into specific resource categories unless stated

Wels Trenching

Wels Trenching

View 43-101 Technical Report

Aerial View of the Wels Saddle Zone (View North Trenches T14-01,02,03,04)

Wels Saddle Aerial View
  • Trenching Highlights
  • Rock grab - 149.5 Au g/t (2012, Stroshein ‘discovery’ sample)
  • Composite rock sample - 15.25 g/t Au (>10kg / 5 samples)
  • Trench - 8.8 g/t Au over 45m including 9.15 g/t Au over 40.5m
  • Drilling - 97.5m @ 0.76 g/t Au (incl. 19.5m @ 3.11g/t and 9m @ 5.71 g/t with visible gold

Wels Trenching Results: Saddle Zone

Wels Trenching Results: Saddle Zone
 
2014 Trenching
Weighted Average Intervals (g/t Au over m)
TRENCH FROM TO INT Au  
# (m) (m) (m) (g/t) Lithology
T-14-01 0.00 19.00 19.00 2.63 Bio granite
Includes 0.00 11.00 11.00 4.53 Bio granite
Includes 0.00 4.50 4.50 11.00 Bio granite
T-14-01 31.00 49.00 18.00 5.30 Bio granite
Includes 43.00 49.00 6.00 15.40 Bio granite
T-14-02 0.00 45.00 45.00 8.80 Bio granite
Includes 3.00 43.50 40.50 9.15 Bio granite
Includes 22.50 43.50 21.00 13.81 Bio granite
T-14-03 0.00 25.50 25.50 0.56 Bio granite
Includes 19.50 25.50 6.00 2.18 Bio granite
Includes 21.00 24.00 3.00 4.30 Bio granite
T-14-03 31.50 54.00 22.50 0.03 Bio granite
T-14-04 0.00 25.50 25.50 1.27 Bio granite
Includes 0.00 10.50 10.50 3.04 Bio granite

Wels Trenching & Drilling

Wels Trenching & Drilling

Drilling Results 2015

Drilling Results 2015 Image
 
DRILL HOLE FROM
(m)
TO
(m)
INT
(m)
Au
(m)
NOTES
DDH-15-01 0.00 97.5 97.50 0.76  
DDH-15-01 31.5 51.00 19.50 3.11  
INCLUDES 31.5 40.50 9.00 5.71 VG ZONE
INCLUDES 45.00 51.00 6.00 2.38  
DDH-15-01 96.00 97.50 1.50 0.73 EOH
DDH-15-02 49.00 52.00 3.00 1.00  
DDH-15-02 83.50 88.00 4.50 2.77  
INCLUDES 83.50 86.50 3.00 2.00  
DDH-15-03 65.65 65.80 0.15 0.70 EOH
DDH-15-04 49.50 70.50 21.00 0.741  
DDH-15-04 49.50 55.50 6.00 1.61  
DDH-15-04 63.00 70.50 7.50 0.67  
DDH-15-05 78.00 81.00 3.00 1.29  

The Saddle Zone has seen the bulk of the exploration work performed to date.

442M of drilling from 2 platforms (5 holes)
Sign up for the latest news and updates

Downloads

Presentation