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Projects

Mojave Project Map - June- 2020

Snapshot

  • Details
  • Geology

Summary

  • Location: Inyo County, California
  • Land Package:
    • >50 km2 land position
    • 5,830 ha
    • Covers more than 12 exploration targets with only 2 drilled by the Company to date
  • Minerlization consists of:
    • Sediment-hosted, oxide gold
    • Structurally controlled silver – base metal +/- gold 
    • Gold-silver +/- base metal skarn
    • Potential for Cu-Au porphyry mineralization

Project Description

  • Mojave was BHP’s last remaining gold property in N. America before exiting gold exploration and mining worldwide
  • Historical drilling by Newmont BHP, & Asamera - ore grade economic intersections from surface - ~ 145 holes total (25 holes drilled by Newmont and 10 by BHP, every hole intersected mineralization)
  • Internal resource estimates (historic and non 43-101 compliant)) by Newmont and Great Bear Resources on only 2 of 8 currently identified gold targets. BHP internal report very ‘optimistic’ 

Exploration History of the Mojave Property

Gold mineralization was first discovered at Soda Ridge on the Northwest corner of the Mojave Property by Mobil in 1984. Prior to K2’s recently completed work at least eight other gold rich areas on the property had been recorded and partially investigated by exploration and mining companies, most notably Newmont and BHP. To date 145 drill holes have been completed by three companies: Newmont in 1985 (22 RC holes), Asamera in 1986 (113 RC and diamond drill holes), and BHP in 1997 (10 RC holes) on three of the nine gold targets. Other companies that have explored on the Mojave property include Great Bear Resources and SSR Mining but the recent work by K2 is the most extensive and comprehensive since 1997. There are now 12 gold and base metal exploration targets on the Mojave property.

The historical drill programs focused on three different target areas on the property, Newmont, Empire Zone and Dragonfly. Highlights of historical drill results include 1.05 g/t over 99.06m, 2.1 g/t Au over 16.8m, and 1.54 g/t Au over 24.4m. 

Since acquiring the property, the Company has completed geochemical and geophysical surveys, geologic mapping LiDAR, a World-View 3 alteration survey, and completed a 17 hole – 2540m RC drilling program focused on the Dragonfly and Newmont Zones.

Highlights of the drilling include:

  • DF20-002: 6.68 g/t Au over 45.72m from surface
  • DF20-004: 7.18 g/t Au over 30.48m from surface
  • NM20-011: 1.69 g/t Au over 41.15 from 44.20m depth
  • NM20-016: 1.00 g/t Au over 22.86m from 42.67m depth

Highlights of K2 Gold’s drilling results from Dragonfly and Newmont

Target  Site ID Hole ID From (m) To (m) Interval (m) Au (g/t)
Dragonfly DF-1 DF20-001 0.00 18.29 18.29 3.10
And 42.67 51.82 9.14 0.70
And 102.11 108.20 6.10 1.11
 Envelope of Alt. 0.00 51.82 51.82 1.23
DF20-002 0.00 45.72 45.72 6.68
Including 9.14 33.53 24.38 10.93
And 67.06 86.87 19.81 2.18
And 161.54 164.59 3.05 1.02
 Envelope of Alt. 0.00 86.87 86.87 4.02
DF20-003 3.05 21.34 18.29 3.21
And 53.34 65.53 12.19 2.29
And 109.73 120.40 10.67 0.86
And 134.11 146.30 12.19 1.24
 Envelope of Alt. 3.05 65.53 62.48 1.40
DF20-004 0 30.48 30.48 7.18
Including 7.62 22.86 15.24 11.12
And 59.44 76.20 16.72 1.86
And 108.20 117.35 9.12 1.23
Envelope of Alt. 0.00 76.20 76.20 3.27
DF-2 DF20-005 13.72 22.86 9.12 0.65
DF20-006 1.52 25.91 24.32 0.21
And 71.63 82.3 10.64 0.58
DF20-007 21.34 35.05 13.72 0.49
DF20-008 NSV
Newmont NM-1 NM20-009 53.34 73.15 19.81 0.66
Including 68.58 73.15 4.57 1.99
NM20-010 65.53 89.92 24.38 0.64
NM20-011 44.20 85.34 41.15 1.64
Including 48.77 65.53 16.76 2.03
And 71.63 82.30 10.67 2.36
NM20-012 54.86 82.30 27.43 0.56
NM20-013 53.34 56.39 3.05 1.38
NM-2 NM20-014 35.05 41.15 6.10 1.58
And 79.25 86.87 7.62 2.35
NM20-015 39.62 60.96 21.34 0.68
Including 42.67 51.82 9.14 1.43
NM20-016 42.67 65.53 22.86 1.00
Including 44.20 54.86 10.67 2.01
NM20-017 42.67 62.48 19.81 0.82
Including 51.82 59.44 7.62 1.87

Highlights of historical drilling results from Newmont, East Zone and Dragonfly

Target Hole ID From (m) To (m) Int (m) Au (g/t)
Newmont CGL-1 8.23 11.28 1.52 8.23
CGL-3 38.40 55.17 16.76 2.08
CGL-12 208.79 225.55 16.76 1.09
CGL-19 74.68 99.06 24.38 0.91
Incl. 74.68 80.78 6.10 3.07
CM97-9 120.40 135.64 15.24 1.00
East CGL-8 51.816 56.388 4.572 1.82
Dragonfly CM97-3 47.24 53.34 6.10 2.00
And 163.07 172.20 9.13 1.17
CM97-4 0.00 24.38 24.38 1.54
Incl. 16.76 22.86 4.95 6.10
And 42.67 54.86 12.19 3.84
And 88.59 97.54 9.14 1.55
CM97-5 146.30 158.50 12.20 1.48
 

 

 

Geology of the Mojave Project 

The Mojave property is underlain by a Paleozoic, carbonate-dominated stratigraphic sequence of siltstone, shale, limestone, and conglomeratic units that have been subjected to multiple deformational events. The units are commonly folded and thrusted and are cut by late, steeply dipping, normal to strike-slip faults. Jurassic intrusive plug, dikes, and sills also locally disrupted the units.

Gold mineralization at Mojave is typically oxide, sediment hosted, and structurally controlled by steeply dipping faults and lithologic contacts. The alteration, mineralization, and geochemistry have similarities to both Carlin and epithermal type gold systems. Polymetallic Au-Ag, Cu, and/or base-metal occurrences are also recognized on the property and typically form proximal to Jurassic intrusive units indicating the potential for porphyry and other intrusion-related mineralization.

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