K2 Gold: Making Mojave Too Big to Ignore

Trevor Hall (0:18)

Welcome back into Mining Stock Daily, everybody. Let's head over to California here with K2 Gold and the Mojave Project. K2 Gold does trade on the Venture Exchange with KTO, and on the OTCQX with KTGDF. Just quick note, I am a shareholder of the company. They are also a partner of the podcast. The company did publish new drill results yesterday. Four new holes coming out of the Dragonfly Zone, and confirming the presence of multiple stack structures, hosting really nice grade, high grade oxide gold. Happy to welcome in Anthony Margarit once again, CEO of the company. Anthony, you knew drill results are going to keep coming, and coming, and coming.

This is great, another batch of results. There's still early days here at Dragonfly.

Anthony Margarit (1:03)

Yeah, no, thanks a lot, Trevor, and happy to be back on the podcast.

I guess very happy to see the results we released yesterday. I think they correspond very well with the results from a couple weeks back, our first news release on drilling at Mojave. So, good to see the grade continuing. One thing that was really interesting, from our perspective, is in the first release on the first three drill holes, we noted that we saw surface mineralization unexpectedly in a couple of those holes. And in the drilling that we, in the holes we released yesterday, hole 24 in particular, we cut a structure higher up in that hole than we had expected to. And it runs, that was three meters at 17.5 grams.

I guess it's going to take a couple more holes and pierce points into that structure as we move along through the program. But there's a possibility that that structure could be the down extension of that surface mineralization we saw in the previous holes that were released. So, exciting to see that and just get a confirmation. We continue to confirm that these structures are long linear predictable structures. And, you know, just really happy to be drilling this thing off and advancing the property as we move through the program.

Trevor Hall (2:29)

Last time you and I chatted, it was just a couple of weeks ago around the last batch of assays here. You emphasized that Dragonfly isn't just one structure, it's a series of parallel stack structures. You kind of went into that there.

This release reinforces that interpretation, obviously. Are you now getting to the point where you can maybe correlate individual structures from hole to hole and start building maybe a coherent 3D model of the system?

Anthony Margarit (2:57)

Yeah, for sure. And definitely by the time we're finished, this 14,000 meters of drilling on the east side will be at that point. You know, I think from where we're sitting, we've got a strong geochemical correlation between the XRF arsenic results that we see and the gold values that we're seeing in assays. So the way we have things set up, I guess you'd say logistically on site is the material that's drilled today, we've got XRF results on tomorrow morning. And it's giving us the ability to call an audible, if you will, occasionally to change the dip or the ozumeth of these holes in order to increase our confidence in our targeting. So it's the first time that in my career that we've been able to have that information at our fingertips that rapidly. So I think that's really helping things from a targeting perspective.

And then, I think we're eight holes into the Newmont trend at the south now. So the biggest part of what we're trying to accomplish in this phase of drilling at Mojave is to more pierce points into the bodies, grow our knowledge of the system, and get to the point where, yeah, I think at the end of this program, the 3D model is gonna look pretty compelling. Maybe by the time we get our next release out here with some more Dragonfly results, we'll see where we're out there and start to draw interpretive structures on to these sections that we're showing, and get to the point where we've got a long section where it's quite obvious with what we're dealing with on the continuity of these structures.

Trevor Hall (4:27)

One observation is that these structures from the latest drill, it seems like the structures are widening the deeper they go.

Anthony Margarit (4:33)

Yeah, that's definitely some welcome news from our side of things. And it's really a matter of more data, increasing our knowledge, but yeah, to see these structures appearing to be widening at depth is very positive news.

Trevor Hall (4:52)

Yeah, so potentially obviously needs more follow-up and more drilling, but seems substantial that they widen the further way you remove from service. I mean, that is a meaningful thing to be paying attention to with more in the future drill holes, right? Yeah, absolutely.