K9 Gold Corp (TSXV: KNC) (FSE: 5GP) has begun mobilization for a VTEM survey at its Stony Lake project. The Stony Lake Project, lies within the Cape RayValentine Lake structural trend in Central Newfoundland, lying parallel to that of New Found Gold's Queensway project, along the prolific Dog Bay Line.
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The project covers 13,625 hectares and 27 kilometers of favorable trend between Sokoman's Moosehead discovery to the northeast and Marathon's Valentine Lake deposit to the southwest.
Geotech Ltd. of Aurora, Ontario will be using its Versatile Time-Domain Electromagnetic (VTEM™ Plus) geophysical system, along with Horizontal Magnetic Gradiometer. This survey will cover the entire property at a 200-metre line spacing and will help to better define, the interpretation of the 2019 airborne magnetometer, radiometrics and VLF-EM survey. That interpretation clearly shows that a significant structural trend crosses onto and continues along the main axis of the Stony Lake East property. The survey will further help to identify resistivity changes related to alteration/intrusive activity/zones of pyrite/gold mineralization, and in turn will define high priority exploration targets in the basement below the Botwood Group.
Prior to the 2020 field season, airborne geophysical coverage, with follow-up ground prospecting and sampling, led to the identification of eight areas of highly anomalous to high grade gold mineralization, hosted in a variety of environments, including quartz-feldspar porphyries, reduced sandstones, quartz stockworks and quartz veins. The property hosts both widespread low grade mineralization up to 4.0 grams per tonne gold within the Botwood Formation and high grade veins greater than 4.0 grams per tonne gold in the basement rocks below the Botwood, similar to the nearby New Found Gold Queensway project, and the immediately adjacent Sokoman Minerals Moosehead discovery.
The company is well funded, having raised gross proceeds of $2.5 million in a private placement in August.
For more information, please visit the company's website, www.k9goldcorp.com, contact Kosta Tsoutsis, Director, at 604-808-9134 or email email@example.com, or contact Brian Morrison, CFO, at 604-312-6910 or email firstname.lastname@example.org.
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