K9 Gold Corp.’s Stony Lake Project Ideally Positioned for Success in Central Newfoundland’s “Gold Belt”
NEW YORK, NY, Nov. 30, 2020 (GLOBE NEWSWIRE) -- K9 Gold Corp.’s (OTC Pink: WDFCF) (TSXV: KNC) (FSE: 5GP) Stony Lake Project is perfectly situated among extremely good company in an area that has become a gold-mining hotbed and affectionately designated the “Central Newfoundland Gold Belt.” The landscape, in all directions, is dotted with mining operations in various stages of development and exploration, and K9 Gold is ideally positioned right in the middle of it all.
K9 Gold’s mining operations at the Stony Lake Project, which is located within the Cape Ray/Valentine Lake structural trend in Central Newfoundland, covers more than 13,000 hectares and 27 kilometers of favorable trend between Sokoman Minerals Corp.’s Moosehead high-grade gold discovery to the northeast and Marathon Gold Corp.'s Valentine Lake deposit to the southwest. Additionally, New Found Gold Corp. operates its Queensway high-grade gold Project to the northeast of K9 Gold’s property.
With mineral resources aplenty being found on nearby and adjacent properties throughout the Central Newfoundland region, K9 Gold has joined the great dig with exploration well underway at Stony Lake. The company’s Chief Executive Officer, Jeff Poloni, says, “Currently we are actively working at Stony Lake conducting airborne VTEM, LiDAR and Imagery surveys, mapping, and rock and till sampling. We are also planning some trenching to open up a few areas with mineralized outcrop.”
So, what’s driving so many companies to Central Newfoundland? It’s simple. They’re flocking to the region because the geology is rich with opportunity, mineral finds by Marathon Gold, Sokoman Minerals, and others are influencing companies to seek the same success, and the price of gold per ounce on the world stage demands attention from those entities fortunate enough to own exploration projects there.
When discussing the geology in Central Newfoundland, where K9 Gold’s Stony Lake Project is located, geologist Derek Wilton opined that the rocks in this region just have the “right geology.” “You can’t have gold deposits without having the right rocks and the rocks are good,” he said.
Jeff Poloni agrees, “The importance of faults in this zone is that it allows gold-bearing hydrothermal fluids to leak upwards from a deeper intrusive source. Central Newfoundland is on both the Canadian and world stage as a source for orogenic gold deposits, with Stony Lake having all of the correct signatures for discovery.”