OK2 Minerals announces 7.2% Cu 4.2 g/t Au in a New Zone at Kinskuch, Drilling results for Pyramid expected soon
29 November 2017 - 12:30AM
OK2 Minerals Ltd .(TSX-V:OK) (the “Company” or “OK2”) is pleased to
provide updates on its Kinskuch Lake project in the southern Golden
Triangle and the Pyramid Project, located north of Dease Lake B.C
at the northern edge of the Golden Triangle.
The Kinskuch Lake project is a copper-gold porphyry project
located in an emerging precious metals district. The tenure is
surrounded by Hecla Mining, and neighbouring projects include the
Dolly Varden Silver camp and the Homestake Ridge Au project. The
geological model on Kinskuch is analogous to the world class
Mitchell deposit at the KSM project (Seabridge Resources).
Late season work at Kinskuch Lake identified a new zone of
mineralization with an additional 14 grab samples grading from
background values up to 7.2% Cu, 4.2 g/t
Au and 21.6 g/t Ag in high-level porphyry
mineralization. The new area is located approximately 750m south of
the main trend of mineralization and is described as quartz
sericite pyrite (QSP) altered diorite with high level stockwork
veining, epithermal veining and skarn mineralization.
The Kinskuch Lake project has seen a rapid evolution of the
geologic model, where past operators targeting a vertical system,
did not outline the horizontal setting of the porphyry
mineralization. Work by the British Columbia Geological Survey, UBC
Department of Geology and OK2 in the summer of 2017 determined that
deeper core zone alteration and mineralization, which is typically
tested with deep drilling is now present at surface. New sampling
in these regions of interest have returned very promising results
over 2.25km of trend with 42 rock samples returning an average of
0.57% Cu and 0.35 g/t Au (see news release dated
Sept 12, 2017). These rock samples come from areas with limited or
no historic sampling and some are from areas of recent glacial
retreat.
At the Eastern margin of this trend is a 200m deep drill hole,
drilled by Canadian Empire Mining in 2003, which returned values of
0.86% Cu and 0.64g/t Au over 25m and bottomed in
50m of 0.33% Cu and 0.21 g/t Au (see news release
dated Aug 17, 2016). Additional diamond drill holes on the property
reported in the historic BC government assessment files include
intervals of 1.22% Cu over 16.2m and 0.23%
Cu over 43.7m from holes completed by Forest Kerr Mines in
1965.
OK2 Minerals has received the data from its Airborne ZTEM survey
flown in conjunction with Dolly Varden Silver and Hecla Mining
Company on the Kinskuch Lake project. The company is awaiting the
final technical report from our geophysical consultant that will
incorporate the data from the airborne survey with the Company’s
recent mapping and rock sampling results.
The 2017 exploration program on the Company’s Pyramid project
consisted of 11 RC drill holes (see news release dated Aug 14,
2017) and three diamond drill holes totalling 1,366 metres. The
diamond drilling produced visually encouraging results, with
mineralization encountered in the West Zone in two drill holes,
spaced roughly 800m apart. All the drill core samples are currently
being analysed at the SGS Canada laboratory in Burnaby BC and the
company is awaiting the results. Follow up drilling in 2018 will
include additional testing of the West Zone and new drilling in the
East Zone.
ABOUT OK2 Minerals Ltd. OK2
Minerals Ltd. is a Canadian-based junior exploration company
comprised of highly qualified mining professionals with two very
prospective copper-gold exploration projects, the Pyramid Project
and the Kinskuch Project, both located in northwestern British
Columbia on or within the “Golden Triangle”.
ON BEHALF OF THE BOARD OF OK2 MINERALS
LTD. Per: “Minaz Devji” Minaz Devji, CEO and Director
OK2 Minerals Mike Devji (604) 258-8666
mike.devji@ok2minerals.com
Investor Relations Kin Communications
1-866-684-6730 (toll-free) ok@kincommunications.com
This news release was prepared by Company
management, who take full responsibility for its content. George
Cavey P.Geo, Director, is a Qualified Person as defined by National
Instrument 43-101 of the Canadian Securities Administrators and has
reviewed and approved the technical disclosure in this release.
The RC rock chip samples were prepared at the
ISO certified SGS Canada Minerals in Burnaby, B.C. and analyzed at
the SGS Canada Minerals facilities in Burnaby using a GE-IC14A
procedure. IC14A is an Aqua Regia Digestion with an ICP-MS finish.
The company routinely inserted known commercially prepared
standards every 10th sample and did not detect any QC/QA concerns
from the analytical results.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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