Dec 1 2020
Image credit: Mark Agnor/Shutterstock
The Stony Lake Project owned by K9 Gold Corp., a mineral exploration company headquartered in Vancouver, is located ideally among very good company in a region that has turned out to be a gold-mining hotbed and fondly called the “Central Newfoundland Gold Belt.”
In all directions, the landscape is distributed with mining operations in different stages of exploration and development. K9 Gold is suitably located right in the middle of all these operations.
Mining operations by K9 Gold at the Stony Lake Project, situated inside the Cape Ray/Valentine Lake structural trend in Central Newfoundland, encompasses over 27 km and 13,000 hectares of the propitious trend between Sokoman Minerals Corp.’s Moosehead high-grade gold discovery located to the northeast and Marathon Gold Corp.’s Valentine Lake deposit located to the southwest.
Moreover, New Found Gold Corp. runs its Queensway high-grade gold Project located to the northeast of K9 Gold’s property.
Since copious amounts of mineral resources are found on adjacent and closeby properties through the entire Central Newfoundland region, K9 Gold has joined the great exploration with an exploration well ongoing at Stony Lake.
Currently we are actively working at Stony Lake conducting airborne VTEM, LiDAR and Imagery surveys, mapping, and rock and till sampling. We are also planning some trenching to open up a few areas with mineralized outcrop.
Jeff Poloni, Chief Executive Officer, K9 Gold Corp.
The driving power behind several companies actively exploring Central Newfoundland is simply the geology rich with opportunity—mineral finds by Sokoman Minerals, Marathon Gold, and others are driving companies to look for the same success, and the cost of gold per ounce on the world stage seeks attention from those entities lucky enough to own exploration projects in this region.
Describing the geology in Central Newfoundland, the region in which K9 Gold’s Stony Lake Project is situated, geologist Derek Wilton notes that the rocks in this area just have the “right geology.” “You can’t have gold deposits without having the right rocks and the rocks are good,” he added.
The importance of faults in this zone is that it allows gold-bearing hydrothermal fluids to leak upwards from a deeper intrusive source. Central Newfoundland is on both the Canadian and world stage as a source for orogenic gold deposits, with Stony Lake having all of the correct signatures for discovery.
Jeff Poloni, Chief Executive Officer, K9 Gold Corp.
Very recently, K9 Gold announced that in-progress interpretive work on the Stony Lake property has gained various direct comparisons with the Sokoman Minerals Corp.’s Moosehead discovery, located immediately to the northeast of Stony Lake’s Jumper’s Pond area. The company reports that the similarities improve K9 Gold’s confidence in the potential of the Jumper’s Pond area.
K9 Gold’s latest news is close to an announcement that Overburden Drilling Management has finished the initial phase of till sampling at Stony Lake. The program was a follow-up of an in-progress compilation of historic exploration work on the property that has determined a large area with highly anomalous gold values in tills gathered by Teck Explorations Limited in 1989.
K9 Gold reports that these samples are clustered around the Island Pond–Moccasin Lake area located at the center of the property.
Jeff Poloni added that visible gold assays estimated by Overburden Drilling yielded 15 samples with values of more than 1500 parts per billion. Four of these samples had values of about 11.8, 12.8, 14.1, and 19.5 g per tonne gold.
Moreover, an investigation of a non-magnetic heavy mineral concentrate by Chemex Labs returned 16 samples with values over 1,000 parts per billion gold. Of these samples, four were reported as more than 10,000 parts per billion gold, which was the upper detection limit.
K9 Gold added that it has completed the initial phase of mapping and sampling as a follow-up on the anomalous 2019 results encompassing the northeast section of the property, where samples were shipped for whole rock and geochemical analysis.
Poloni believes the company’s future and the future of gold in the region are bright. “I believe the long-term outlook for gold will have investment moving into the sector.” They are, indeed, moving in.
Investors have been contributing money for exploration in this region to relieve their doubts and to support a range of potential projects, such as the $3.5 million secured by K9 Gold in the past few months to continue the initial exploration phase at Stony Lake and to financially support an initial drill program.