K2 Gold Corporation (“K2” or the “Company”) (TSX-V: KTO; OTCQB: KTGDF; FRANKFURT: 23K) is pleased to announce that a ground-based Magnetic and Very Low Frequency (“VLF”) electromagnetic (“EM”) geophysical survey was successfully completed at its 100% owned Wels Project (“Wels”) located in Yukon, Canada. The survey was designed to collect geophysical data over previously drilled mineralization at the Saddle Zone. In addition, the survey covered three high priority gold-in-soil and rock anomalies on the property to identify possible controlling structures in areas of extensive surficial cover. A total of 60.73 line-km of ground was surveyed, with multiple VLF-EM anomalies successfully delineated including several previously unidentified trends with coincident rock and soil geochemical anomalism, An entirely new exploration target in the southwest of the property was also identified over the course of the survey.
Key Point Summary
- A west-northwest trending VLF anomaly interpreted as a controlling structure or contact is observed immediately adjacent to high-grade gold historically drilled at the Saddle Zone. The anomaly has not been tested by drilling, extends for 850m, and is coincident with high-tenor gold-in-soil results.
- Compelling VLF-EM anomalies generally trending northwest have also been identified at all currently known target areas, including the Pekoe, Chai, and Gunpowder targets.
- A new target area, Matcha, was identified 2km to the southwest of the Saddle Zone. Northwest-trending VLF anomalies in the Matcha area are coincident with high-tenor gold-in-soil results of up to 202 ppb Au.
