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These Canadian Gold Discoveries Mirror the Success of Giants

Jon Brown Jon Brown, Stockhouse
3 Comments| March 1, 2022

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(Stony Lake Project map via K9 Gold Corp. Click to enlarge.)




K9 Gold Corp. (TSX-V: KNC, OTCQB: WDFCF, Forum) has explored less than 5% of its vast Stony Lake Project in Newfoundland, but already the company is discovering its property has real promise.

A mineral exploration company with interests in Newfoundland and Utah, K9 Gold is engaged in the business of identification, acquisition, and exploration of mineral interests. The company focuses on its Desert Eagle project and Stony Lake project.

Discoveries at new depths:

The company recently discovered additional potential gold mineralization at its Stony Lake project in central Newfoundland. The mineralized zone intersected in drill hole JP21-012 at the Jumper’s Pond area has been extended north by approximately 100 metres along strike.

Additional sampling to define the limits of the gold mineralization found will happen immediately. K9 Gold is planning to increase drilling to 20,000 metres.

In a media release on this news, K9 Gold’s Chief Executive Officer, Jeff Poloni, commented that the drilling completed to follow-up the mineralization intersected in JP21-012 had established continuity of the mineralized zone along strike and at depth.

He said that the average grade and thickness of the mineralized intervals suggest that K9 had discovered a potential large tonnage, low grade style of gold mineralization. The mineral associations, variable alteration, multiple host rocks and correlation to an IP chargeability anomaly identified in JP21-012 are consistent with these observations on the drill holes. The correlation with the chargeability anomaly outlined in the 2021 geophysical survey suggests a potential target of at least three kilometres long.

“The analytical results combined with the drill core descriptions have better informed our understanding of the location and structural controls on the gold mineralization and potential size of the exploration target to be explored. The additional sampling to define the limits of the gold mineralization reported in this news release is expected to get underway immediately. With the success of this phase, we are reviewing a plan to increase drilling to 20,000 metres.”

Weighted average grade for all intervals of significant gold mineralization:


(Chart via K9 Gold Corp. Click to enlarge.)

Striking similarities:

K9 Gold’s property is surrounded by a host of other successful gold properties, including Sokoman Minerals Corp. (TSX-V: SIC), New Found Gold Corp. (TSX-V: NFG), and Marathon Gold Corp. (TSX: MOZ), and its latest drilling results revealed several direct similarities to Marathon Gold’s impressive Valentine Lake Project. In February 2022, K9 Gold announced results from its 2021 drilling program and more specifically, results from drill hole JP21-012 in the Jumper’s Pond area, an area that has been deemed a high-priority drill target by the company.

JP21-012’s results found that there were significant grades of gold over substantially wider zones of gold mineralization, which yields the potential to develop a substantial tonnage of mineralized material. The team intersected seven intervals of gold mineralization down the hole, with six of the seven zones occurring over a core interval of 134 metres (440 feet). This gold mineralization occurs in a steeply dipping structural zone and includes 2.58 g/t Au over a 3.1-metre core interval with a maximum grade of 4.34 g/t Au over a one-meter core interval.

The company added that the gold mineralization being identified in these results is in brecciated and shear zones within intermediate volcanic flows of the Lawrenceton Formation. The team pointed out that given how both Stony Lake and Valentine Lake lie within the Exploits Subzone Gold District, along the Cape Ray / Valentine Lake structural trend, it was no surprise that “the two gold projects are beginning to reveal real similarities to one another”.

Marathon Gold is out to establish the largest gold mine in Atlantic Canada to date and stated an average grade of 1.36 g/t Au in its reserves.


Weighted average grades of Jumper’s Pond gold mineralization:

K9 Gold has already received approval from the Newfoundland Government Mineral Lands Division for a further 25 more drill holes to cover 5,000 more metres in the high target area of Jumper’s Pond.

Extremely confident about the future of the entire project, Chief Geologist, Chris M. Healey, P.Geo, anticipates tighter spaced drilling will increase the probability of finding higher grades.


(Chart via K9 Gold Corp. Click to enlarge.)

The company’s reasonable stock position makes it an attractive investment when compared to other gold companies in Newfoundland with larger share prices, including New Found Gold at more than $8 and Marathon Gold at nearly $3. Meanwhile, KNC stock has risen nearly 18% since the beginning of the year.


(K9 Gold Corp. stock chart – January to February 2022.)


K9 Gold puts itself in good company with other operators in the Atlantic. Although still in its early stages, this company offers an engaging opportunity where investors will want to deepen their due diligence.

To learn more, visit k9goldcorp.com.


FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.



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