Company update · 20 October 2026
A broad gold intercept extends the northern drilling picture at Dragonfly. K2 Gold (TSXV: KTO; OTCQX: KTGDF; FSE: 23K) has reported the final four holes from the first phase of drilling at the Dragonfly Zone, within its 100%-owned Mojave Project in California. The headline result is 83.82m at 3.40 g/t gold from surface in DF26-031.
Width matters: these are drilled/apparent lengths, not established true thicknesses. DF26-031 was drilled obliquely along the interpreted structural corridor and ended early because of difficult ground. Its 83.82m interval must not be read as the perpendicular width of the deposit.
The four new holes
| Hole | Main interval | Selected included interval |
|---|---|---|
| DF26-029 | 38.10m at 1.38 g/t from surface | 19.81m at 2.34 g/t from surface |
| DF26-030 | 100.58m at 1.01 g/t from surface | 6.10m at 4.60 g/t from 50.29m |
| DF26-031 | 83.82m at 3.40 g/t from surface | 48.77m at 4.98 g/t from 35.05m, including 19.81m at 7.58 g/t from 64.01m |
| DF26-032 | 28.95m at 3.11 g/t from 33.53m | 9.15m at 8.53 g/t from 39.62m |
DF26-031 ended at 83.82m with its final 1.52m sample grading 9.72 g/t gold. That leaves the extent of mineralisation beyond the end of the hole untested. The three DF-M holes were collared from the northernmost pad drilled at Dragonfly; the fourth hole, DF26-032, returned to pad DF-A to help constrain the geometry of earlier high-grade results.
Continuity is improving; geometry is still being tested
K2 says 15 reported Dragonfly holes now span approximately 240m of strike, with each intersecting high-grade oxide-gold mineralisation. This drilled footprint is distinct from the 1,000m extent between high-grade surface outcrops reported earlier in October: surface sampling does not establish continuous mineralisation at depth.
The company is considering a possible Carlin-type interpretation alongside epithermal and other sediment-hosted hydrothermal models. Those remain geological interpretations, not confirmation of a deposit type, resource size or economic outcome.
The next results move to Newmont
At the release date, K2 had completed 42 holes for 8,013m within its fully permitted and fully funded 14,000m program. All first-phase Dragonfly results had been released; 27 Newmont holes remained awaiting assays. A further 16 holes were permitted at Dragonfly for a planned second phase.
The near-term test is whether subsequent drilling improves the structural model and repeats mineralisation away from the existing pads. Permits and program funding support exploration execution, but do not establish a mineable resource or project economics.
Source and related coverage
- Original K2 Gold announcement, 20 October 2026 (PDF).
- 8 October update: Dragonfly surface extent and Flores sampling.
- K2 Gold company page and research.
Source note: the supplied release's headline prints 7.51 g/t for the 19.81m sub-interval. This article uses 7.58 g/t, as repeated in its highlights, Table 1 and detailed hole description. Technical information in the release was reviewed by Eric Buitenhuis, M.Sc., P.Geo., K2's qualified person and VP Exploration. General information only, not personal financial advice. Exploration results are not Mineral Resources or Ore Reserves and do not establish commercial viability.