Company announcement — 18 August 2026
K2 Gold Corporation (TSXV: KTO; OTCQX: KTGDF; FSE: 23K) has reported the first assays from its fully funded 14,000-metre drill campaign at the 100%-owned Mojave Project in California. All three holes from the first Dragonfly drill pad returned gold mineralisation, including broad high-grade oxide intervals in a 40-metre step-out north of K2's 2020 discovery drilling.
Headline results
- DF26-020: 39.62m at 5.35 g/t Au from 51.82m down hole, including 25.91m at 7.14 g/t Au.
- DF26-019: 10.67m at 7.75 g/t Au from 16.76m.
- DF26-018: 18.29m at 3.77 g/t Au from 27.43m, including 7.62m at 7.48 g/t Au.
The three holes were drilled from site DF-A, approximately 40m north of DF20-002, which returned 45.72m at 6.68 g/t Au in 2020. K2 said each 2026 hole also collared into a previously unknown near-surface gold zone, with grades of up to 0.96 g/t Au.
Why the results matter
The initial assays extend high-grade mineralisation into previously untested ground and support K2's interpretation of a broader system made up of multiple, sub-parallel, steeply west-dipping structures. Mineralisation at Dragonfly had been confirmed over approximately 400m of drilled strike and remained open along strike and at depth at the time of the release.
Dragonfly sits near the centre of the greater-than-6.5km Eastside Gold Trend. It is approximately 1.5km south of the undrilled Gold Valley target, where K2 has reported rock samples grading up to 375 g/t Au, and 2km north of the Newmont target.
Program status and next steps
K2 had completed 15 holes for 2,630m when the announcement was issued, with assays pending for 12 additional holes. The company planned to continue drilling Dragonfly before moving the rig to Newmont, where earlier K2 drilling returned 1.64 g/t Au over 41.15m.
Executive Chairman John Robins said the work completed at Mojave indicated a very large mineralised system. President and CEO Anthony Margarit said the first three holes demonstrated the potential to extend mineralisation beyond the previous drilling footprint.
Technical context: the reported intervals are drilled widths and may not represent true thickness. The full announcement contains drill-hole specifications, sample-by-sample assays and K2's QA/QC procedures.