NEW YORK, NY , Oct. 19, 2022 (GLOBE NEWSWIRE) -- K9 Gold Corp. (OTC Pink: WDFCF) (TSXV: KNC) (FSE: 5GP) could be setting its property apart from many of the companies working in the Exploits Subzone Gold Belt, a mining hotbed in central Newfoundland. The company continues to release extremely promising analytical results following each drilling program on its vast flagship property, the Stony Lake Project. More specifically, the Jumper’s Pond zone, which remained the focus of its 2022 drilling season. And for good reason. According to analysis from the company’s recently completed diamond drill program, of the 8 holes drilled in the Jumper’s Pond zone for a total of 2,919 meters, “multiple well mineralized zones with significant widths of continuous gold mineralization” were found in many of those holes.
Additionally, this latest set of results has shown “consistency in gold values,” which serves to help eliminate the “nugget effect” in the company’s data. K9 Gold’s Chief Geologist, Chris M. Healey, P.Geo., explains the significance of this news, “The remarkable consistency of gold values is of particular importance in determining the true metal content of the Jumper’s Pond zone. Whereas with a high ‘nugget effect,’ the analytical results may not be indicative of the true metal content (either high or low), we now have significantly increased our confidence in the reliability of our data.”
These results are incredibly important because they validate results from the 2021 drilling season and further add to a collection of data that will greatly assist the company in developing a 3D model of the property for future mining. And for a company building a portfolio of data to make the case for future open pit mining, the pattern of significant widths of continuous gold distribution with consistent gold values is key. With substantial widths of gold mineralization, comes the potential to develop a substantial tonnage of mineralized material, and it is that tonnage that will justify future mining.
It’s a pattern that isn’t lost on the company’s chief geologist, “The latest drill results confirm and add to our inventory of wide zones of continuous gold mineralization. The intersections in hole JP22-029 (31.75 meters averaging 1.52 g/t Au) and JP22-030 (27.35 meters averaging 1.88 g/t Au) are of particular significance as they exhibit consistent grades throughout the intersections and are adjacent to significant intersections from the 2021 drill program, namely hole JP21-022, which intersected 127.4 meters averaging 0.61 g/t Au. With multiple similar intersections from the 2021 and 2022 drill programs, we are moving to the point where we will be able to define a cohesive model of the Jumper’s Pond mineralized zone.”
News of the incredibly wide zones of continuous gold mineralization being discovered on K9 Gold’s highly prospective property is standing out even in one of the top mining jurisdictions in the entire world, the Exploits Subzone Gold Belt in central Newfoundland. It’s a mineral rich area with many well-explored properties, including those owned by Marathon Gold, Sokoman Minerals, and New Found Gold.
Chris Healey says he’s not aware of any central Newfoundland gold play that is reporting anything like the significant widths of continuous gold that K9 Gold is finding at Jumper’s Pond, “We continue to intersect wide zones of gold mineralization with grades in the same range as found at Marathon Gold’s Valentine Lake project.
“Of particular importance is the consistency of gold values within each intersection. The broad zones are not based on a ‘spot high’ surrounded by low grade; instead, they are consistently in the 1-3 g/t Au range. This sets us apart from many of the other companies working in central Newfoundland.”
Only about 5 percent of Stony Lake Project has been explored, so while New Found Gold has drilled about 500 holes and Sokoman Minerals has drilled about 300 holes, K9 Gold has only drilled 32 holes. So, although the company is in the early stages of exploration, learning that many of the holes K9 Gold has drilled in the Jumper’s Pond zone do, in fact, show a highly consistent pattern of gold distribution within broad mineralized zones is exactly what investors want to hear.
This latest set of drill results was driven by the encouraging and extremely wide mineralized zone that was revealed in hole JP21-022 during last year’s drilling season. It was in those analytical results where K9 Gold found that JP21-022 intersected a 127.4-meter zone of continuous gold mineralization, averaging 0.61 g/t over the entire length of the zone and set out to further verify the findings with this year’s drilling program. K9 Gold has certainly done that and continues to build on its successful findings.
According to the company, the next step in the evaluation of Jumper’s Pond is to complete 3D computer modeling of the drill data, which will allow the company’s geologists to visualize the complex structures hosting the mineralization and then effectively plan the next phase of drilling at Jumper’s Pond.
Each drilling program presents K9 Gold with an opportunity to reveal exactly what is beneath its 13,625-hectare (33,668 acres) property piece by piece. And as the company continues to uncover the potential of its Stony Lake property, Chris Healey explains why each drilling program is a means to an end, “Every drill hole (whether mineralized or not) adds to our knowledge base and increases the accuracy of our geological modeling. This, in turn, leads to more efficient positioning of drill sites in the next phase of drilling, and hopefully additional positive results.”
To learn more about K9 Gold Corp., visit https://www.k9goldcorp.com or call toll free (833) 434-GOLD (4653).
About K9 Gold Corp.
K9 Gold Corp. is a mineral exploration company headquartered in Vancouver, British Columbia, Canada, and currently exploring for gold on its Stony Lake Project in central Newfoundland’s Exploits Subzone Gold Belt.
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