THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR THE DISSEMINATION IN THE UNITED STATES
Vancouver, B.C. – April 12th, 2018 – K2 Gold Corporation (“K2” or the “Company”) (KTO:TSX-V) is pleased to announce that recent re-interpretation of the geochemical and geophysical data at Wels increases the gold system footprint to an area covering 3 km x 1.5 km and identifies additional structures that may be controlling the system. The Wels Gold Property (“Wels” or “the Property”) is located in west-central Yukon Territory in the Traditional Territory of White River First Nation (“WFRN”).
Re-interpretation of the existing rock, soil, and drill sample geochemistry was conducted by Chris Benn, a highly respected geochemist with 33 years’ experience including 27 years with majors, most recently with Gold Fields Ltd. Re-interpretation of the existing geophysical data was conducted by Mark Hanki, Project Geophysicist at Apex Geoscience Ltd in Edmonton.
- Antimony (Sb), and arsenic (As) are pathfinder elements that show a clear affinity with the known gold (Au) in all rock-types at Wels. This may suggest that gold mineralization has affinity to orogenic style gold deposits which are typical in the 200 km wide and 1,200 km long Tintina Gold Belt that hosts the Goldcorp’s Coffee deposit (4.09M Oz at 1.38 g/t) located 65km north-east of Wels.
- The dominant Sb signature shows a clear mineralisation footprint of 3 km x 1.5 km that includes the Saddle and Chai prospects. The boundaries of this footprint are likely to be significant for exploration in defining limits to at least one zone of mineralisation. Eleven geochemical anomalies have been defined that will aid in exploration targeting in 2018.
- A series of dominant structures trending NW-SE were identified during the re-interpretation of the existing geophysical data and these structures correlate well with the geochemical footprints.
Please CLICK HERE to view figure related to this news release.
Jo Price, VP Exploration commented, “The new geochemical and structural analysis has identified a potentially large gold system at Wels and the clarification of existing and new geochemical anomalies will help us zone in on covered high-grade gold zones during our 2018 exploration work.”
Stephen Swatton, President and CEO commented, “I am very encouraged at the increased size of the mineralization footprint at Wels and the potential for a large-scale discovery.”
2018 upcoming exploration programs are currently being designed based on the re-interpretation. Program details and budgets will be released when available.
Jo Price, P.Geo., is the Qualified Person, in accordance with NI 43-101 of the Canadian Securities Administrators, and is responsible for the technical content of this press release.
For additional information please contact Stephen Swatton at 604-343-3530.
On behalf of the Board of Directors,
President and CEO
K2 Gold Corporation.
This news release contains forward-looking statements that are not historical facts. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements, including statements regarding the mineral potential of the Flume Gold Property, Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, the Company’s inability to reach satisfactory agreements with First Nations to facilitate its exploration and development plans for the Flume Property, the Company's inability to obtain any necessary permits, consents or authorizations required for its planned activities, and the Company's inability to raise the necessary capital or to be fully able to implement its business strategies. The reader is referred to the Company's public disclosure record which is available on SEDAR (www.sedar.com). Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except as required by securities laws and the policies of the TSX Venture Exchange, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
This news release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. No securities of the Company have been or will, in the foreseeable future, be registered under the United States Securities Act of 1933 (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.