TSX-V: KTO
VANCOUVER, BC, March 23, 2021 /CNW/ - K2 Gold Corporation
("K2" or the "Company") (TSXV: KTO) (OTCQB: KTGDF)
(FRANKFURT: 23K) announces that its wholly owned subsidiary,
Mojave Precious Metals Inc. ("MPM"), has received a positive
decision letter from the United States Department of the Interior,
Bureau of Land Management ("BLM") at its 100% owned Mojave Project
("Mojave") located in Inyo County,
California. The BLM decision on the update to the Plan of
Operations ("PO") is an important milestone in the process for
expanded Phase II exploration drilling at key zones where Phase I
drilling yielded significant gold intercepts.
Although this BLM decision does not constitute authorization for
MPM to start its Phase II exploration drilling plans, the BLM
decision allows for commencement of the formal initiation of the
National Environmental Policy Act ("NEPA") environmental review
process. At a time specified by the BLM, MPM will update its
reclamation cost estimate and post reclamation financial assurance
for the additional exploration work.
John Robins, Chairman stated,
"We are extremely pleased to have achieved this important
permitting milestone for Mojave's
second phase drilling program. We look forward to
methodically advancing this highly prospective project and building
upon last year's successful program."
MPM submitted an amendment to its PO for Phase II drilling that
is based on enhanced environmental and site data. The PO
meets the federal regulatory requirements and addresses
environmental resources through measures incorporated in the
project design.
Surface Exploration Proposed in Plan of Operations
- The establishment of 30 drill pads to support exploration in
three key mineral zones
- Reverse Circulation (RC) and/or Diamond
Core drilling of up to 120 drill holes
- Reconstruction of approximately 4.3 kilometres (2.7 miles) of
previously reclaimed access roads
The BLM's review of the PO determined it is consistent with
BLM's 3809 regulations to conduct mineral exploration activities in
a manner consistent with the regulations to avoid unnecessary and
undue degradation. The planned surface disturbance and surrounding
study area are within a block of 121 mining claims encompassing
2,424 acres (980 ha) area of the Mojave Property. The work
addresses potential environmental effects by capitalizing on the
footprints of prior activities while expanding the mineral
information with up to 36km of drilling. A copy of the Plan
of Operations is available on K2's website as well as MPM's
website.
K2 and MPM are committed to transparency, accountability,
environmental stewardship, safety, diversity and inclusion and
community engagement.
About K2
K2 is a well-financed gold and silver exploration company with
approximately C$6 million cash and
projects in SW USA and the
Yukon. In the USA, the
Company is represented by its 100% subsidiary, Mojave Precious
Metals Inc. The Company is focused on the Mojave property in California, a 5,830-hectare oxide gold project
with base metal targets. The location of Mojave enables the Company to have year-round
news flow on multiple previously recognized surface gold targets
that have been successfully drilled in the past by majors BHP and
Newmont. Besides affording immediate drill targets based on
the Company's soil data integrated with LiDAR and Worldview-3 data,
the property also has undrilled locations with gold enriched
historical trench results including one at the East zone which
recorded 8.4 g/t gold over 25.6m (see
October 30, 2013 news release from
Great Bear Resources Ltd.).
On behalf of the Board of Directors,
"Stephen Swatton"
President and CEO
K2 Gold Corporation.
K2 Gold Corporation is a proud member of Discovery Group. For
more information please visit: discoverygroup.ca.
Cautionary Statement on Forward-Looking Statements
This news release contains forward-looking statements that are
not historical facts. Forward-looking statements involve
risks, uncertainties and other factors that could cause actual
results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward-looking
statements, including statements regarding the exploration program
at Mojave, including results of
drilling, and future exploration plans at Mojave. Factors that could cause actual
results to differ materially from these forward-looking statements
include, but are not limited to, variations in the nature, quality
and quantity of any mineral deposits that may be located, the
Company's inability to obtain any necessary permits, consents or
authorizations required for its planned activities, and the
Company's inability to raise the necessary capital or to be fully
able to implement its business strategies. The reader is referred
to the Company's public disclosure record which is available on
SEDAR (www.sedar.com). Although the Company believes that the
assumptions and factors used in preparing the forward-looking
statements are reasonable, undue reliance should not be placed on
these statements, which only apply as of the date of this news
release, and no assurance can be given that such events will occur
in the disclosed time frames or at all. Except as required by
securities laws and the policies of the TSX Venture Exchange, the
Company disclaims any intention or obligation to update or revise
any forward-looking statement, whether as a result of new
information, future events or otherwise.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of any
of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful, including any of the
securities in the United States of
America. No securities of the Company have been or will, in
the foreseeable future, be registered under the United States
Securities Act of 1933 (the "1933 Act") or any state securities
laws and may not be offered or sold within the United States or to, or for account or
benefit of, U.S. Persons (as defined in Regulation S under the 1933
Act) unless registered under the 1933 Act and applicable state
securities laws, or an exemption from such registration
requirements is available.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE
EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF
THIS RELEASE.
SOURCE K2 Gold Corporation
