Vancouver, British Columbia–(Newsfile Corp. – June 23, 2021) – K9 Gold Corp (TSXV: KNC) (OTC Pink: WDFCF) (FSE: 5GP) has commenced diamond drilling on a planned 5000 metre drill program at its flagship Stony Lake project in central Newfoundland. The company has an option to earn up to a 100% interest in the Stony Lake Project, which lies within the Cape Ray/Valentine Lake structural trend in Central Newfoundland, lying parallel to that of New Found Gold’s Queensway project, along the prolific Dog Bay Line. The project covers 13,625 hectares and 27 kilometers of favorable trend between Sokoman’s Moosehead discovery to the northeast and Marathon’s Valentine Lake deposit to the southwest.
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The first drill hole is located on the Jumper’s Pond grid, targeting a highly priority anomaly from the IP survey. This area is immediately to the south of Sokoman Minerals’ Moosehead discovery.
Ground Truth Exploration has completed four of the five planned soil sampling grids, for a total of 2455 samples, which are being prepared at the Eastern Analytical Lab in Springdale, NL prior to being analyzed in Vancouver. The soil sampling program has been planned to generate geochemical coverage of vast portions of the property with a consistent methodology of sample collection and analysis.
The first phase of trenching at the newly exposed Deliverance and Moonlight vein structures was recently completed, identifying multiple significant mineralized structures. At the Deliverance zone, approximately 15 kilometres southwest of Jumper’s Pond, a 10 metre wide zone of moderate to intense oxidization was uncovered. Within the 10 metre zone, there is one major vein system with several parallel minor veins.
At the Moonlight trench, approximately 3 kilometres SE of the Deliverance trench, a series of quartz veins were exposed over an approximately 30 metre wide zone. Detailed sampling has not been completed yet on this trench due to seasonal restrictions for caribou-calving season. Additional trenching is now planned for both these highly prospective zones.
Following up on the previous work has led to the interpretation of about 100 anomalies, at least ten of which are rated as high priority drill targets.
Jeff Poloni, CEO, stated: “We are extremely excited to have our maiden drill program underway. Also, with the completion of the soil program on 4 of the 5 grids, especially over the newly exposed Deliverance trench, we will be better able to define our high priority drill targets.”
News releases from other companies active in the Central Newfoundland Gold Belt continue to increase the profile of this newly emerging gold district. For example, on April 28, 2021 Sokoman Minerals announced a new discovery at South Pond on their Moosehead project, immediately adjacent to K9’s Stony Lake property. On May 4, 2021, New Found Gold announced an intercept of 124.4 g/t gold over 17.7 metres at their nearby Queensway property.
Management cautions that mineralization on nearby properties may not be indicative of mineralization on its property.
The company also owns a 100% interest in the Desert Eagle Vanadium project located in the historic Henry Mountains Mining District in southeast Utah, close to Anfield Energy’s Shootaring Canyon Mill, in an area that has seen extensive historic vanadium and uranium mining.
For more information, please visit the company’s website, www.k9goldcorp.com, contact Kosta Tsoutsis, Director, at 604-808-9134 or email [email protected], or contact Brian Morrison, CFO, at 604-312-6910 or email [email protected].
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