Company update · 8 October 2026
More ground to test, not yet more drilled resource. K2 Gold (TSXV: KTO; OTCQX: KTGDF) says new surface sampling extends the high-grade outcrop footprint at Dragonfly to 1,000m and adds high-grade gold targets at Flores, within the Mojave Project in California.
The release reports results from 346 rock samples, bringing the surface dataset collected since May to 949 samples. These results help target drilling across the greater-than-6.5km Eastside Gold Trend; they do not demonstrate continuous gold mineralisation over the full surface trend.
Sampling context: rock-chip and outcrop samples are selective, local observations. High individual grades are not representative bulk grades, drilled intercepts or a Mineral Resource estimate.
Dragonfly stretches south
The new work identified high-grade outcrops approximately 480m south of previously known high-grade exposures. Dragonfly South samples returned 10.9 g/t, 6.73 g/t and 1.18 g/t gold within an approximately 100m-wide corridor. K2 interprets the structures as a continuation of the core Dragonfly system through similar prospective siltstone and limestone host rocks.
That interpretation creates follow-up targets, but the intervening ground and subsurface continuity still require drilling. The 1,000m figure measures the extent between high-grade outcrops, not a continuously drilled mineralised body.
Flores and Stega add to the target pipeline
At Flores, the release highlights rock samples grading up to 28.8 g/t gold across an approximately 800m east-west trend. A newly identified outcrop at Flores Core returned 12.35 g/t gold, 70m west of historical trenching, extending the prospective contact to around 170m of possible strike. Flores SW returned up to 8.08 g/t gold.
At Stega, an individual copper-rich rock sample returned 24.8% copper with 252 ppm silver near historical workings. Other Stega samples returned gold values up to 4.95 g/t. At Soda Ridge, the company reported gold values up to 3.04 g/t and copper values up to 2.88%, supporting further investigation of a gold-polymetallic target.
These observations broaden the exploration pipeline. They are not enough to infer average grades, tonnage, metallurgy or recoverable metal for any of the targets.
Drilling provides the next test
As at 8 October, K2 had completed approximately 7,600m in 39 holes of its fully funded, fully permitted 14,000m Mojave campaign. Mapping teams were returning to the anomalies to refine future drill targets while the wider drilling program continued.
For investors, the distinction is between generating targets and converting them into repeatable subsurface results. Follow-up drilling, structural interpretation and appropriate technical work are needed before the high-grade surface samples can be placed in a resource or economic context.
Source and related coverage
- Original K2 Gold sampling and mapping announcement, 8 October 2026 (PDF).
- Earlier update: stacked high-grade oxide-gold zones at Dragonfly.
- Subsequent 20 October update: 83.82m at 3.40 g/t gold at Dragonfly.
- K2 Gold company page and research.
Source note: the release's highlights state a Flores maximum of 28.8 g/t gold, while its Flores East narrative states 28.6 g/t. The 28.8 g/t figure above is attributed to the highlights, not presented as an independently reconciled assay. Technical information in the announcement was reviewed by Eric Buitenhuis, M.Sc., P.Geo., K2's qualified person and VP Exploration. General information only, not personal financial advice. Selective surface samples and exploration plans do not establish commercial viability.