Mining News: K2 Gold expands Wels

K2 Gold Corp. Aug. 10 reported results from 11 holes drilled at the Wels Gold property near the Alaska border in western Yukon. Highlights from the drilling 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. The company said this year’s drilling has confirmed the presence of a shallow, well defined gold mineralized body starting at shallow depths, located within a broader halo of lower grade gold. The mineralization is hosted by a pervasive east-west trending structural zone within non-magnetic granite. The widest high-grade gold zone is Main Saddle, a 10- to 30-meter -thick mineralized body that has been traced for roughly 125 meters along strike. Visible gold has now been identified in three of the 15 holes drilled at Saddle. In addition, two new higher grade zones have been identified: South Saddle, a new 1.5- to 4.5-meter-wide zone parallel to Main Saddle; and North Saddle, a less defined zone 50 meters north of Saddle. K2 said additional soil sampling confirmed the anomalous nature of the three main zones at Wels – Saddle, North Ridge and Southwest Spur – and identified new target areas in the western portion of the property.

–SHANE LASLEY