K9 Gold Corp. Identifies New High Priority Targets in Emerging Central Newfoundland ‘Gold Belt’

NEW YORK, NY, Jan. 13, 2021 (GLOBE NEWSWIRE) -- K9 Gold Corp. (OTC Pink: WDFCF) (TSXV: KNC) (FSE: 5GP) joined Sokoman Minerals Corp. and New Found Gold Corp. as the latest company in the newly emerging Central Newfoundland “Gold Belt” to receive positive news about its gold mining exploration project, the Stony Lake Project, located within the Cape Ray/Valentine Lake structural trend in Central Newfoundland.  And, as we usher in the new year, K9 Gold will use its latest news, to further define the company’s path forward in 2021 and step up its efforts to further explore the Stony Lake Project.

In a new report interpreting the data collected from the airborne geophysical survey that K9 Gold conducted on its Stony Lake Project, the company announced that it has met its objective to outline linear trends that demonstrate changes in resistivity due to faulting, alteration, sulfide mineralization, and intrusive activity.  K9 Gold says the report shows that the Versatile Time Domain Electromagnetic (VTEM) survey has actually identified a number of linear trends, and the interpretations in the report are offering a trove of valuable information that K9 Gold will use to refine plans for its upcoming 2021 field season, which the company says includes drilling.

In laymen’s terms, the VTEM survey produced an electromagnetic survey with resistivity data and a magnetic survey with magnetic information.  Together, both of these surveys give K9 Gold a better idea of what is happening in the bedrock below the surface.

K9 Gold’s Chief Executive Officer, Jeff Poloni, explaining the findings in the report, said, “Areas of reduced resistivity can be correlated to a higher conductivity, and these were seen in the northwestern corner where we might find a spherical intrusion of some kind, and along the eastern boundary of the survey where we detect linear anomalies, almost parallel to the trend of the geological layering.  These most likely relate to shear zones, which are commonly more conductive than undisturbed lithologies due to the possible presence of graphite or other more conductive minerals.”

Some of the interpretations based on the data from the VTEM survey include:

• The interpretation shows two highly significant areas of interest that are coincident with various anomalies from earlier work and will improve K9 Gold’s understanding of the geological setting of these areas.

• The two areas are the Jumper's Pond zone and Island Pond.
• Additionally, there are numerous indications of potential narrow vertical conductive zones in the basement rocks beneath the Botwood sediments.

Jeff Poloni, discussing the benefits that this data and interpretations provide the company, said, “With the VTEM and Mag surveys, we continue to define both lithological trends and structure.  The importance of these structures cannot be overstated as they are the conduits for auriferous fluids.