Fresh look shows bigger potential at Wels
North of 60 Mining News – April 13, 2018
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Last updated 9/24/2020 at 7:28pm
Gorilla Minerals Corp.
In addition to the work completed by K2 Gold, data from sampling by previous operators was used in a re-interpretation of the Wels gold property near the Alaska-Yukon border.
K2 Gold Corp. April 12 said a recent re-interpretation of geochemical and geophysical data suggest the potential for a larger gold system than previously envisioned at Wels, a western Yukon property about 30 miles (50 kilometers) east of the Alaska-Yukon border.
"I am very encouraged at the increased size of the mineralization footprint at Wels and the potential for a large-scale discovery," said K2 Gold President and CEO Stephen Swatton.
Re-interpretation of the existing rock, soil, and drill sample geochemistry was conducted by Chris Benn, a highly respected geochemist with 33 years of experience, including 27 years with major mining companies, most recently with Gold Fields Ltd.
Antimony and arsenic are pathfinder elements that show a clear affinity with the known gold in all rock-types at Wels. K2 Gold said this may suggests that gold mineralization has affinity to orogenic style gold deposits, which are common within the Tintina Gold Belt, a 125- by 750-mile are that extends from northern British Columbia, through the southwest corner of Yukon, and across Alaska.
The company said the dominant antimony signature shows a clear mineralization footprint of 3,000 by 1,500 meters, that includes the Saddle and Chai prospects.
Saddle is the site of the original discovery at Wels and has been the target of drilling over the previous three years.
Highlights from the 2017 drilling at Saddle include 28.5 meters of 2.37 grams per metric ton gold in hole DDH17-06; and 12.5 meters of 5.08 g/t gold in DDH17-07.
K2 Gold Corp.
Re-interpretation of the existing geophysical data was conducted by Mark Hanki, a geophysicist at Apex Geoscience Ltd. in Edmonton.
His work identified a series of dominant northwest-to-southeast-trending structures that correlate well with the geochemical footprints.
"The new geochemical and structural analysis has identified a potentially large gold system at Wels and the clarification of existing and new geochemical anomalies will help us zone in on covered high-grade gold zones during our 2018 exploration work," said K2 Gold Vice President of Exploration Jo Price.
K2 Gold is using the information from the geochemical and geophysical re-interpretations to design its 2018 exploration program at Wels.
–SHANE LASLEY
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