(Stoney Lake Gold Project in Newfoundland. Image via District Copper Corp.)
Whether you ask the market’s bulls or the bears, many agree that the price of gold has room to grow in the coming
years, with analysts predicting it to rise above $4,000 a troy ounce by 2023.
Canada’s East Coast has seen a great deal of activity in recent gold mining and
K9 Gold Corp. (TSX-V: KNC, OTC: WDFCF, FSE: 5GP, Forum) is ready to get boots on the ground at its latest project in Central Newfoundland.
KNC announced in mid-September 2020 that it had commenced its fall field program on its Stony Lake East gold project, situated in the Grand Falls - Bishops Falls area of Newfoundland, where it recently signed an option agreement on the property with
District Copper Corp.
K9’s Chief Executive Officer, Jeff Poloni stated in a
news release about this project and program for investors that this area of Central Newfoundland has seen district-wide drilling success, particularly New Found Gold's recent high grade intercepts, which continues to highlight the area’s latent potential.
“We’re looking forward to complete this phase of exploration and commence preparations for the project's first systematic drill program.”
Located within the Cape Ray / Valentine Lake structural trend in Canada’s newest emerging orogenic gold district, the Stony Lake East Gold Project covers 27 kilometers (13,625 ha) of this favourable trend.
The 2020 Exploration Plan will consist of airborne EM, structural and geological mapping and sampling to define the preliminary drill program. Using a Versatile Time-Domain Electromagnetic (VTEM Plus) geophysical system, this survey will cover the entire property at a 200-metre line spacing.
Ground work at the project will focus on eight areas that are highly anomalous where high-grade gold (15.05 g/t) mineralization identified. These areas are hosted in quartz feldspar porphyry, pyrite and arsenopyrite-bearing reduced sandstone, quartz stockworks and quartz veins.
The Company recorded the following results from 2019 and earlier:
- Eight areas have been identified that are highly anomalous to high grade gold (15.05 g/t) mineralization
- This gold mineralization is found within quartz feldspar porphyry, pyrite, and arsenopyrite
- bearing reduced sandstone, quartz stockwork, and quartz veins
- The mineralization also exhibits arsenic-antimony-molybdenum geochemical associations with a high gold to silver ratio
- It is also characterized by sericite, silica, ankerite, carbonate, and chlorite alteration typically as pervasive alteration and envelopes around quartz stockwork and quartz veins
- All gold mineralization samples that contain more than 50 parts per billion commonly contained pyrite and arsenopyrite (1-3% total sulphide)
It has been suggested from the interpretation of the results from the 2019 field program that two separate styles of gold mineralization may occur on the property:
One is a widespread, low grade (0.5 to 4.0 g/t Au) mineralized quartz-felspar-porphyry, pyritic sandstone, quartz veins and quartz stockwork as seen exposed in the Silurian-age Botwood Group sediments. The other has been identified as a high-grade gold environment (up to 15 g/t Au), in the basement rocks below the Botwood sediments similar to the nearby Queensway Project operated by
New Found Gold (TSX-V: NFG) and the adjacent Moosehead discovery under
Sokoman Minerals (TSX-V: SIC).
(Image via K9 Gold Corp. Click to enlarge)
Promising results with robust activity nearby are two major reasons for investors to get excited about what is to come from K9 Gold Corp.
To find out more about the Company, visit
k9goldcorp.com.
FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.