K9 Gold Commences Drilling at Stony Lake Project, NL; Updates Soil Survey
Vancouver, British Columbia--(Newsfile Corp. - June 22, 2021) - K9 Gold Corp. (TSXV: KNC) (FSE: 5GP) ("K9" or the "Company") is pleased to report that diamond drilling has commenced on a planned 5000 metre drill program at its flagship Stony Lake project in central Newfoundland. Additionally, Ground Truth Exploration has completed four of the five planned soil sampling grids, for a total of 2455 samples.
The first drill hole is located on the Jumper's Pond grid, targeting a highly priority anomaly from the IP survey. This area is immediately to the south of Sokoman Minerals' Moosehead discovery.
The soil sampling program has been planned to generate geochemical coverage of last portions of the property with a consistent methodology of sample collection and analysis. Samples collected during the soil survey are being prepared at Eastern Analytical Lab in Springdale, NL and then will be analyzed by Bureau Veritas in Vancouver.
Jeff Poloni, CEO of K9 Gold commented, "We are extremely excited to have our maiden drill program underway. Also, with the completion of the soil program on 4 of the 5 grids, especially over the newly exposed Deliverance trench, we will be better able to define our high priority drill targets. "
News Releases from other companies active in the Central Newfoundland Gold Belt continue to increase the profile of this newly emerging gold district. For example, on April 28, 2021 Sokoman Minerals announced a new discovery at South Pond on their Moosehead project, immediately adjacent to K9's Stony Lake property. On May 4, 2021, New Found Gold announced an intercept of 124.4 g/t Au over 17.7 m in hole NFGC-20-59 at their nearby Queensway property.
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 Stony Lake Project
The Stony Lake project is owned 100% by K9 Gold Corp. It lies within the Exploits sub-zone 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.
A 5000 metre drill program is currently underway.
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 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 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, K 9 Gold follows all federally and provincially mandated and recommended guidelines regarding Covid 19.
Chris M. Healey, P.Geo, 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 consents to its release.
Toll Free Number: (833) 434-GOLD (4653)
K9 Gold Corp.
Telephone: 604 808-9134
Chief Financial Officer and Director
K9 Gold Corp.
telephone: 604 312-6910
The Company is listed on the TSX Venture Exchange.
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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.
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