NEW YORK, NY, Dec. 08, 2021 (GLOBE NEWSWIRE) -- K9 Gold Corp. (OTC Pink: WDFCF) (TSXV: KNC) (FSE: 5GP) continues to learn a great deal from its inaugural drilling season on the company’s vast Stony Lake Project, which is nestled comfortably within the suddenly popular Exploits Subzone Gold Belt in Central Newfoundland. But it’s what the company hasn’t learned yet that could be the most exciting piece of the early puzzle K9 Gold is developing from its recently ended 2021 drilling program. It’s often said that the waiting is the hardest part, so, what K9 Gold is expecting could prove to be well worth the wait. The problem is that testing laboratories throughout Canada are overwhelmed with work from mining companies, both big and small, awaiting analytical results, and much of that work is coming from companies mining in the Exploits Subzone Gold Belt.
Waiting patiently in line for analytical data are K9 Gold’s executives who, like their shareholders, are beaming with excitement for those results to be received by the company. Data could confirm what the discovery of several necessary key factors during drilling are suggesting—and that is the potential for higher grade zones of gold mineralization. These results are crucial to the company’s next steps and will allow K9 Gold’s team to further plan its drilling operations which are expected to commence after the Christmas break.
Chris M. Healey, P.Geo, who is the Chief Geologist for K9 Gold, said of the delay, “Like every other company working in Newfoundland, we are quite frustrated with delays in getting analytical results. This speaks volumes about the excitement generated in the Exploits Subzone Gold Belt and the sheer volume of drill core samples being submitted, which have inundated laboratories across Canada. When you hear that one company is shipping samples to Australia for analysis, you know that this is an unprecedented situation.
“Drill results to date have allowed us to concentrate on a highly prospective zone in the Jumper’s Pond area. And that is exactly where most of our pending analytical results are from.”
In its Phase 1 drilling program, the company completed 6,865 meters of diamond drilling on a total of 24 drill holes—18 of which were drilled in the Jumper’s Pond area on the Stony Lake property. The goal was to test potential mineralized targets in the Lawrenceton volcanics below the Botwood sediments. K9 Gold has stated that 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.
Initially, K9 Gold drilled 17 holes and sent drill core samples from each of those holes to be analyzed. So far, what we do know is the company received “full” results on 3 of the initial 17 holes, as well as “partial” results from hole “JP21-012.” With the backlog of assays at labs across Canada, the company is awaiting full results from drill holes JP21-004 to JP21-017. (https://finance.yahoo.com/news/k9-gold-provides-stony-lake-110000231.html)
The full results from 3 of the initial 17 drill core samples were so highly encouraging that K9 Gold began and completed a detailed follow-up drilling in the vicinity of JP21-012, with 7 additional, tightly spaced holes (JP021-013, 019, 020, 021, 022, 023 and 024).
When commenting on what is being learned from drilling in the Jumper’s Pond area, K9 Gold Corp.’s Chief Executive Officer (CEO), Jeff Poloni, stated, “The drill cores from the Jumper’s Pond drilling indicate significant post sedimentation reactivation 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.”
Additionally, recent trenching results from the Moonlight Prospect area, which covers a large area in the center of the company’s Stony Lake Project, is also offering reason for excitement and the potential that K9 Gold can open additional zones of gold mineralization. In a recent release, the company announced that channel sampling of B-horizon soil material at Moonlight Prospect returned an average of 809 ppb (0.81 g/t) Au over a width of 15.0 meters.
K9 Gold’s CEO added, “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.”
To date, the company has only received about 17% of the overall results it expects to receive from the initial 17 holes. That number drops to 12.5% when calculating the 7 additional holes. This, of course, leaves 82% of those results still to come, and 87.5% of the total results are outstanding if we include the additional 7 holes. K9 Gold executives and geologists are extremely confident about what the remaining results should offer as, so far, early results have revealed the discovery of a new “gold zone” on the property, potential to host additional zones of gold mineralization, identifying high concentrations of arsenic and discovering that the Stony Lake Project displays all the same features, except for the coarse gold (for now), as its high-profile neighboring properties, Sokoman Minerals and New Found Gold.
And Jeff Poloni remains confident, but certainly is ready to receive the full picture of the company’s work during the 2021 drilling program, “While these results are extremely encouraging, we eagerly await the balance of the analytical results from the Phase 1 drilling program.”
To learn more about K9 Gold Corp., visit https://www.k9goldcorp.com or call toll free (833) 434-GOLD (4653).
About K9 Gold Corp.
K9 Gold Corp. is a mineral exploration company headquartered in Vancouver, British Columbia, Canada, and currently exploring for gold in Central Newfoundland’s “Gold Belt.”
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