West Vancouver, British Columbia--(Newsfile Corp. - September 21, 2023) - K9 Gold Corp. (TSXV: KNC) (FSE: 5GP) (OTCQB: WDFCF) ("K9" or the "Company") is pleased to provide an update of corporate activities.
Stony Lake Project, Newfoundland:
K9 has now completed to initial earn-in requirements and now holds a 75% interest in the property. K9 has completed 32 diamond drill holes on the property, encountering multiple significant gold intersections including:
JP21-022 127.4 m averaging 0.61 g/t Au, from 97.00 - 224.40
JP22-029 31.75 m averaging 1.52 g/t Au, from 238.75 to 270.50
including 20.40 m averaging 1.91 g/t Au, from 248.40 to 268.80
including 13.50 m averaging 2.14 g/t Au, from 250.00 to 263.50
JP22-030 27.35 m averaging 1.88 g/t Au, from 225.00 to 252.35
including 14.85 m averaging 3.18 g/t Au, from 229.50 to 244.35
including 2.85 m averaging 5.36 g/t Au, from 234.50 to 237.35
JB Lithium Project, Quebec:
The summer field soil sampling and prospecting program has been completed. Highlights include:
Prospecting has identified at least three pegmatite outcrops with spodumene, tourmaline and garnet present. These outcrops occur along well-defined ridges which are in excess of 500 meters in length.
The pegmatites occur on both the Rivière Salomon and the Lac Joubert-Tilly properties.
On the Rivière Salomon property, the pegmatites are spatially related to an occurrence of Senneterre dykes.
On the Lac Joubert-Tilly property, the pegmatites are related to occurrences of Tilly pegmatites.
3524 soil samples and 136 rock samples were collected.
All samples have been submitted to SGS in Val d'Or, QC for analysis.
Additionally, the planned LiDAR and photogrammetry survey has recently been completed, with results pending. The survey was carried out by Perron, Hudon, Bélanger Inc, of Montreal QC.
About Stony Lake Project
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. The project covers 13,625 ha 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.
K9 Gold acknowledges the financial support of the Stony Lake project by the Government of Newfoundland and Labrador, through the Department of Industry, Energy and Technology Junior Exploration Assistance Program.
About JB Lithium Project
The JB Lithium Project is located in the La Grande sub-province of the Archaean Superior Province in Quebec, and comprises three units, the Rivière Salomon property (see Company release November 15, 2022 for property details), the Lac Joubert - Tilly property (see Company release May 25, 2023) and the Lac Laribosière-Tilly property (see Company release June 13, 2023 for details).
About K9 Gold Corp
K9 Gold Corp has assembled a highly-experienced and dynamic team to explore its JB Lithium Project. K9 also operates the Stony Lake Gold Project in central Newfoundland. 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 (see Company release dated July 30, 2020). 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.
To ensure a safe workplace environment that protects the health and safety of employees and contractors, K9 Gold follows all federally and provincially mandated and recommended guidelines regarding Covid 19.
Chris M. Healey, P. Geo, Chief Geologist and a Director of K9 Gold Corp., is the qualified person under NI 43-101 guidelines who is responsible for the technical content of this release and approves its release.
K9 Gold Corp.
Chief Financial Officer and Director
K9 Gold Corp.
The Company is listed on the TSX Venture Exchange.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding K9's intention to continue to identify potential transactions and make certain corporate changes and applications. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits K9 will obtain from them. These forward-looking statements reflect managements' current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including K9's inability to identify transactions having satisfactory terms or at all and the results of exploration or review of properties that K9 does acquire. These forward-looking statements are made as of the date of this news release and K9 assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/181324