K9 Gold Corp. Identifies New High Priority Targets in Emerging Central Newfoundland ‘Gold Belt’ - Seite 2

“We can use the airborne surveys with the location of gold anomalies in the soil, till and rocks to focus our next phase of ground geophysics and mapping to orient our upcoming drill program.  I believe we are creating a compelling story, systematic exploration to discovery.”

While K9 Gold’s Stony Lake Project 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, Marathon Gold Corp.’s Valentine Lake deposit to the southwest, and New Found Gold Corp. operates its Queensway high-grade gold Project to the northeast of K9 Gold’s property, we’re going to focus on the report’s good news in the Jumper’s Pond zone and at Island Pond.

First, in the Jumper’s Pond area, which borders Sokoman’s mineral-rich Moosehead property, K9 Gold reports that there is a highly conductive zone that is interpreted to be in the basement rocks, beneath the Botwood sediments, at a depth of approximately 200 meters below the surface.  Interpretation of the 2019 airborne magnetic survey, indicates that this structural zone extends from the Moosehead discovery through the northern property boundary and for approximately 1 kilometer to the south on K9 Gold’s property.

This news is exciting because, as K9 Gold reports, exploration work carried out by Cornerstone Resources in this area back in 2001 and 2002, which included ground geophysics (IP/Resistivity and magnetometer), identified various areas of interest in the same zone.  That work identified numerous northwest trends that are interpreted to represent cross faulting, and it’s significant because work on adjacent properties has shown these cross-cutting structural trends as highly significant in the localization of gold mineralization.

Meanwhile, At Island Pond, K9 Gold announced that the report shows there is a large (3000 x 500 meter), relatively shallow, conductive zone, possibly within the Botwood sediments, with indications of several deeper, vertical conductive structures directly beneath.  The company says that historic work in this area has resulted in numerous overburden gold bearing till anomalies with coincident highly anomalous lake sediment samples, as well as a cluster of mineralized boulders. This area also correlates with quartz feldspar intrusive activity.