VANCOUVER, British Columbia, Feb. 15, 2022 (GLOBE NEWSWIRE) -- K9 Gold Corp (TSXV:KNC) (OTCQB:WDFCF) (FSE:5GP) has announced highly significant results from its 2021 drill program on its Stony Lake project in central Newfoundland. The Stony Lake property lies within the Exploits Subzone Gold Belt of 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.
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The project covers 13,625 hectares and 27 kilometers of favorable trend between Sokomon's Moosehead discovery immediately to the northeast and Marathon's Valentine Lake deposit to the southwest. Excellent infrastructure exists on the project lands and in the surrounding area.
Today’s results are from drill hole JP21-012, drilled on the Jumper's Pond target. Diamond drill hole JP21-012 intersected 7 intervals of gold mineralization with 6 of the 7 zones occurring over a core interval of 134 metres. The gold mineralization occurs in a steeply dipping structural zone and includes 2.58 g/t gold over a 3.1 metre core interval with a maximum grade of 4.34 g/t gold over a one-meter core interval.
Follow-up drilling completed in the vicinity of JP21-012, includes seven holes, JP021-013, 019, 020, 021, 022, 023 and 024, drilled from the same drill pad. Two additional drill holes, JP21-014 and 015, were collared approximately 170 metres to the west. These holes were designed to test an interpreted east-northeast-trending positive chargeability anomaly at a horizontal spacing of 10 to 40 metres, and a vertical spacing of 30 to 40 meters. Analytical results from these holes are pending.
The company also owns a 100% interest in the Desert Eagle Vanadium-Uranium project located in the historic Henry Mountains Mining District in southeast Utah. The area has seen extensive historic vanadium and uranium mining and is close to Infield Energy Inc's Shootaring Canyon mill.
The shares are trading at $0.22. For more information, please visit the company’s website, www.k9goldcorp.com, call 1-833-434-GOLD (4653), contact Kosta Tsoutsis, Director, by email at kosta@k9goldcorp.com, or contact Brian Morrison, CFO, at brian@k9goldcorp.com.
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