NEW YORK, NY, Nov. 16, 2020 (GLOBE NEWSWIRE) -- K9 Gold Corp. (OTC Pink: WDFCF) (TSXV: KNC) (FSE: 5GP) continues to ramp up exploration of its extremely promising Stony Lake Project in Central Newfoundland as gold futures climbed to just below $1,900 an ounce at last Friday’s close. K9 Gold Corp. announced last week that Overburden Drilling Management (ODM) completed the preliminary phase of till sampling, which followed up on the compilation of historic exploration work on the property that identified a large area with highly anomalous gold values in tills previously collected.
In those previously collected tills, the company stated the calculated visible gold assays, by ODM, yielded 15 samples with values over 1500 parts per billion (ppb), four of which had values of 11.8, 12.8, 14.1, and 19.5 grams per tonne gold (g/t Au).
Stock Market Media Group, a news and media IR firm, caught up with K9 Gold Corp.’s Chief Executive Officer, Jeff Poloni, to discuss the company’s exploration of its Stony Lake Project, the gold and precious metals market, and funding opportunities that are keeping the project moving full steam ahead. Jeff Poloni’s exploration career began at an early age when he spent his summers off from school, working for his father, and since then, he’s amassed 30 years of experience in mineral exploration and corporate management on projects in both North America and South America.
SMMG: When you were named the CEO of the company in September, what attracted you to join the team at K9 Gold Corp.?
Jeff Poloni: “Simply put, two things, management and the Stony Lake Project. Management at K9 Gold Corp. is an experienced, dedicated team that has an excellent track record in developing projects and building shareholder value. Additionally, the Stony Lake Project has all the right signatures to move it to the next level.”
SMMG: With the current price of gold remaining just below $1,900/ounce, what is your short and long-term performance outlook for the gold and precious metals market?
Jeff Poloni: “I believe that the outlook for gold is excellent. Bank of America has a 12-month price target of $3,000. There have been a lot of big investors moving capital into gold and gold stocks recently.”
SMMG: Can you bring us up to speed on the company’s current operations at the Stony Lake Project?
Jeff Poloni: “Currently we are actively working at Stony Lake conducting airborne VTEM, LiDAR and Imagery surveys, mapping, and rock and till sampling. We are also planning some trenching to open up a few areas with mineralized outcrop.”
SMMG: For the average investor who isn’t familiar with exploration in the mining industry, can you explain what is the significance of where the Stony Lake Project is situated geographically?
Jeff Poloni: “The property covers a 27-kilometer long portion of the Cape Ray Valentine Lake structural zone, the host to several advanced-stage gold projects. Included are both Marathon’s Valentine Lake and Sokoman’s Moosehead project. The importance of faults in this zone is that it allows gold-bearing hydrothermal fluids to leak upwards from a deeper intrusive source.”
SMMG: And for investors who aren’t versed in the industry’s language, what does “of favorable trend” and “significant structural trend” mean?
Jeff Poloni: “Since many mineral deposits are related to major structures, such as faults and shear zones, geologists always look for geological settings that are similar to known districts hosting major mines. Such areas are often referred to as both ‘a favorable trend’ and a ‘significant structural trend.’ In reality, the two terms are pretty much fully interchangeable.”
SMMG: What did the company learn from the 2019 airborne magnetometer, radiometrics, and VLF-EM survey it had done, and how will K9 Gold Corp. capitalize on that information now?
Jeff Poloni: “The 2019 airborne survey provided the data to allow an interpretation of the structural patterns (first and second-order faults) underlying the upper sedimentary rocks. This has given us more specific targets for this next phase of exploration. This is of particular significance since we have found gold mineralization both in the intrusive rocks and within the overlying sediments.”
SMMG: Additionally, you have announced the mobilization for a VTEM survey has begun. What do you hope to learn from this survey?
Jeff Poloni: “The VTEM survey will give us even more definition of mineralized structures. Along with the LiDAR, Imagery and mapping it will allow us to correlate gold mineralization and structure.”
SMMG: K9 Gold Corp. announced that it is well funded, having raised gross proceeds of $3.5 million in 2 separate private placements, so what have you earmarked these funds for?
Jeff Poloni: “Yes, we are well-funded having raised $2.5 million in one private placement, and an additional $1 million in another private placement, which was led by Palisades Goldcorp, a major backer in the area.
“These funds will be used for this first phase of exploration, which consists of till sampling, mapping, orthophotos, LiDAR, and VTEM airborne geophysics. It will also fund an initial drill program at our Stony Lake Project.”
SMMG: Given your short and long-term projections for the gold and precious metals market, what are your expectations for K9 Gold Corp.’s future in the industry as it relates to its current projects and the potential for exploration?
Jeff Poloni: “Central Newfoundland is on both the Canadian and world stage as a source for orogenic gold deposits, with Stony Lake having all of the correct signatures for discovery. I believe the long-term outlook for gold will have investment moving into the sector.”
The latest update on the Stony Lake project was announced last week by K9 Gold Corp., and it can be viewed at https://www.nasdaq.com/press-release/k9-gold-2020-exploration-program-update-for-stony-lake-2020-11-09
To learn more about K9 Gold Corp., visit https://www.k9goldcorp.com or call toll free (833) 434-GOLD
About K9 Gold Corp.
K9 Gold Corp. is a mineral exploration company headquartered in Vancouver, British Columbia, Canada, and currently exploring for gold in Central Newfoundland.
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