K2 Gold Corporation (“K2” or the “Company”) (TSX-V: KTO; OTCQB: KTGDF; FRANKFURT: 23K) is pleased to provide an update for its 2023 exploration program at the Si2 Project. The Company has completed approximately 1,700m of diamond drilling over 4 drill holes within the southern target area, one of 10 target areas at the project identified through geological mapping, surficial geochemistry, and geophysical surveys. Drilling is ongoing at hole SD-23-004, which has been extended beyond the planned depth to test the limits of the alteration system.
Highlights
- The first 3 holes spaced more than 170m apart have successfully defined a preserved epithermal system with significant scale potential.
- Broad intervals exhibiting multiple styles of veining and brecciation, with associated sulphides were intersected at all 4 drill holes. These intervals are also associated with elevated arsenic and antimony in spot XRF analysis.
- A new style of hydrothermal brecciation was intersected at >475m below surface at hole SD-23-003. The system is open along interpreted strike and at depth.
- Hole SD-23-004 (ongoing) has been extended to test the deep hydrothermal breccia intercepted in hole SD-23-003, which intersected approximately 25m of breccia with a silicified matrix composed of up to 10% sulphide, at 100m below surface.
- Assay results from the completed drill holes are expected in the coming weeks.
“K2 has confirmed the presence of a strong epithermal alteration system at Si2. We have successfully sampled broad intervals hosting multiple styles of strong sulphide mineralization, which could potentially host gold. This suggests that several faults within the southern target area have acted as ‘hydrothermal superhighways’, leading to intense alteration and sulphidation of the host rock. Essentially, we have drilled multiple phases of a new system, we have found the rocks we were hoping to find, and we are now waiting for assay results.” stated Anthony Margarit, CEO of K2 Gold.
Figure 1: Plan view of drilling at the southern target area at the Si2 Project. Hole SD-23-004 is in progress.
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