K9 Completes Phase I Drilling And Locates New Gold Target At Stony Lake Project
K9 Gold Corp. (TSXV: KNC) (OTC Pink: WDFCF) (FSE: 5GP) (‘K9’ or the ‘Company’) is pleased to provide its shareholders with an update on drilling and exploration activities including recent trenching results from the Moonlight Prospect located on K9’s highly prospective Stony Lake project in the Exploits Subzone Gold Belt in central Newfoundland.
A total of 6865 metres of diamond drilling has been completed in 24 drill holes.
Highlights
Phase I drilling consisted of 24 drill holes (6865m) testing potential mineralized targets in the Lawrenceton Volcanics below the Botwood sediments.
Multiple wide zones of shearing, brecciation with quartz veining exhibiting a pyrite-arsenopyrite-stibnite mineral association have been intersected in the volcanics below the Botwood sediments.
It is anticipated that drilling will recommence after the Christmas break.
Channel sampling of B horizon soil material at Moonlight returned an average of 809 ppb (0.81 g/t) Au over a width of 15.0 meters.
Jeff Poloni, CEO of K9 Gold commented, ‘Our phase I drilling program was predicated on testing the down dip extensions of interpreted leakage halos exposed in outcrops of Botwood sediments characterized by silicification and a gold-sulphide mineral association.
The drill cores from the Jumpers Pond drilling indicate significant post sedimentation re-activation and late stage introduction of significant concentrations of sulphides and low grade gold mineralization in sheared Lawrenceton volcanics immediately south of Sokomon’s Moosehead gold deposit. Our exploration efforts have located the correct structural host exhibiting several factors that suggest potential for higher grade zones of gold mineralization along the shear zone.
The delay in receipt of analytical results for the drilling is hampering our ability to assess the significance of the mineralized shear zone in the volcanics. The recent discovery of a new zone of consistent highly anomalous gold concentration in soils at Moonlight highlights the potential of the project to host additional zones of gold mineralization and a priority drill target in this portion of the property.’
About Stony Lake Project
The Stony Lake project is owned 100% by K9 Gold Corp. It 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. The project covers 13,625 ha and 27 kilometers of favorable trend between Sokoman’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.
At Stony Lake, ground prospecting and sampling has led to the identification of seven broad areas of highly anomalous to low grade (up to 4.0 g/t Au) to high grade (>4.0 g/t Au) gold mineralization. Following up on the prospecting work, systematic exploration with property-wide airborne geophysical and extensive soil sampling, plus two large grids of IP ground geophysical survey, has led to the interpretation of about 100 anomalies, at least ten of which are rated as high priority drill targets.
About K9 Gold Corp
K9 Gold Corp has assembled a highly-experienced and dynamic team to explore its Stony Lake Project. The project has been acquired from District Copper Corp by an option agreement, whereby K9 can earn up to a 100% interest in the project. The Company also owns a 100% interest in the Desert Eagle Vanadium-Uranium project located in the historic Henry Mountains Mining District in SE Utah. The area has seen extensive historic vanadium and uranium mining and is close to Anfield Energy Inc’s Shootaring Canyon mill.
www.ferroalloynet.com
