TSX-V KTO
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VOLUME 87133
TSX-V KTO
LAST $0.54
CHANGE -0.03
VOLUME 87133

Projects

Mojave Project Map - June- 2020

Snapshot

  • Details
  • Geology

Summary

  • Location: Inyo County, California
  • Land Package:
    • >50 km2 land position
    • 5,830 ha
    • Covers more than 8 exploration targets with only 2 drilled to date
  • 3 styles of mineralization
    • Epithermal gold
    • Porphyry copper and gold
    • Silver, base metals, and gold

Project Description

  • Mojave was BHP’s last remaining gold property in N. America before exiting gold exploration and mining worldwide
  • Historical drilling by majors Newmont, BHP - ore grade economic intersections from surface - ~ 145 holes total (25 holes drilled by Newmont and 10 by BHP, every hole intersected mineralization)
  • Resource estimates (historical in nature) by Newmont and Great Bear Resources on only 2 of 8 currently identified gold targets. BHP internal report very ‘optimistic’ 
  • Project area rescinded from Wilderness Study Area in mid 90’s because of the mineral potential (by Democrat Senator Feinstein). Negotiated withdrawal to facilitate formation of Death Valley National Park
  • Local government actively looking to diversify economy beyond tourism, leisure and recreation which accounts for >50% of employment in Inyo County

 

 

 

 

 

 

 

 

 

 

 

Exploration History of the Mojave Property

Gold mineralization was first discovered at Soda Ridge on the Northwest corner of the Mojave Property by Mobil in 1984. Prior to K2’s recently completed work at least eight other gold rich areas on the property had been recorded and partially investigated by exploration and mining companies, most notably Newmont and BHP. To date 145 drill holes have been completed by three companies: Newmont in 1985 (22 RC holes), Asamera in 1986 (113 RC and diamond drill holes), and BHP in 1997 (10 RC holes) on three of the nine gold targets. Other companies that have explored on the Mojave property include Great Bear Resources and SSR Mining but the recent work by K2 is the most extensive and comprehensive since 1997. There are now 12 gold and base metal exploration targets on the Mojave property.

The historical drill programs focused on three different target areas on the property, Newmont, East Zone and Dragonfly. Highlights of historical drill results include 16.8m of 2.1 g/t Au, 24.4m of 1.54g/t Au, and 12.2m of 3.8 g/t Au. The best trench result to date is an undrilled section of the Dragonfly area where BHP reported 42.7m of 4.2 g/t Au (Great Bear Resources news release October 2013). A compilation of K2’s Dragonfly rock and soil sampling results will be released as and when available. 

Highlights of historical drilling results from Newmont, East Zone and Dragonfly

Target Hole ID From (m) To (m) Int (m) Au (g/t)
Newmont CGL-1 8.23 11.28 1.52 8.23
CGL-3 38.40 55.17 16.76 2.08
CGL-12 208.79 225.55 16.76 1.09
CGL-19 74.68 99.06 24.38 0.91
Incl. 74.68 80.78 6.10 3.07
CM97-9 120.40 135.64 15.24 1.00
East CGL-8 51.816 56.388 4.572 1.82
Dragonfly CM97-3 47.24 53.34 6.10 2.00
And 163.07 172.20 9.13 1.17
CM97-4 0.00 24.38 24.38 1.54
Incl. 16.76 22.86 4.95 6.10
And 42.67 54.86 12.19 3.84
And 88.59 97.54 9.14 1.55
CM97-5 146.30 158.50 12.20 1.48
 

 

Summary of Mojave Project - PDF

Geology of the Mojave Project 

The Mojave property is underlain by a Palaeozoic, carbonate-dominated stratigraphic sequence of siltstone, shale, limestone, and conglomeratic units that have been subjected to multiple deformational events. The units are commonly folded and thrusted and are cut by late, steeply dipping, normal to strike-slip faults. Jurassic intrusive plug, dikes, and sills also locally disrupted the units.

Gold mineralization at Mojave is typically oxide, sediment hosted, and structurally controlled by steeply dipping faults and lithologic contacts. The alteration, mineralization, and geochemistry have similarities to both Carlin and epithermal type gold systems. Polymetallic Au-Ag, Cu, and/or base-metal occurrences are also recognised on the property and typically form proximal to Jurassic intrusive units indicating the potential for porphyry and other intrusion-related mineralization.

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