OK2 Minerals Drills 482m of 0.19 g/t Gold Equivalent On First Ever Diamond Drill Program at Pyramid
December 19 2017 - 2:05AM
OK2 Minerals Ltd., (the “Company”) (TSX.V:OK) is pleased to report
it has intersected widespread gold mineralization (482m of 0.19 g/t
gold equivalent) on the inaugural diamond drill program at its
187km2 Pyramid gold copper project in NW British
Columbia. Three holes, totaling 1,384 meters were drilled,
with two holes targeting the West Zone and one hole targeting the
Central Zone.
Highlights
- Drill hole PD-17-02 (485m) returned 482m of 0.19 g/t Au
Eq including 19m of 0.60 g/t Au Eq
(101-120m) and 75 m of 0.35 g/t Au
Eq (278-353m) and 24 m of 0.75 g/t
Au Eq (455-479m).
- Drill hole PD-17-03 (390m) drilled 800m from 17-02 returned
26m of 0.40 g/t Au Eq (111-137m).
Given the large size of the West Zone target, the first two
diamond drill holes, 800m apart, have only begun to test the
mineralizing system and the Company intends to aggressively follow
up on West Zone in 2018. Original interpretations have led
OK2 to believe that mineralization was predominantly related to a
porphyry event but given the widespread gold mineralization, the
prospect has the potential to host a large bulk tonnage epithermal
gold system and a gold-copper porphyry.
Mike Devji, CEO of OK2 Minerals states, “We continue to be very
encouraged by the ongoing progress at Pyramid. The wide zones of
epithermal type veining with anomalous gold values gives evidence
that a large hydrothermal event has taken place and warrants an
aggressive, further targeted drill program in 2018. The years of
work our geological team has compiled on the Pyramid, coupled with
these early stage drilling results gives our shareholders excellent
potential for a large scale discovery in one of the best mining
jurisdictions in the world.”
West Zone
Drill holes PD-17-02 and PD-17-03 were drilled 800m apart on the
West Zone target and tested shallow to deep IP chargeability
anomalies coincident with anomalous gold-copper soil and rock
geochemistry.
Drill hole PD-17-02 (485m) returned 481.5m of 0.19 g/t
Au Eq (0.16 g/t Au)
including 19.2m of 0.60 g/t Au Eq
(0.57 g/t Au) from 101m and 75.0m of 0.35
g/t Au Eq (0.32 g/t Au)
from 278m. The hole is located 3.7km from Highway 37 and was
collared to target highly anomalous copper and gold soil and rock
geochemistry with a coincident IP chargeability anomaly.
Drilling encountered anomalous background copper mineralization
throughout the hole indicating the upper levels of a porphyry
environment. Epithermal style gold and silver bearing quartz
carbonate chlorite (hematite) veining overprints earlier porphyry
alteration. Mineralization consists of fine grained
disseminated pyrite in addition to occasional occurrences of
visible gold. Mineralization is open in all directions and at
depth.
Drill hole PD-17-03 (390m) collared above a chargeability high
with coincident anomalous gold-copper soil geochemistry. It
was drilled 73m to the south of RC drill hole PY-17-09 which
encountered 9.14m of 0.13% Cu. Diamond drilling returned
26m of 0.40 g/t Au Eq (0.29 g/t
Au) from 111m.
Central Zone
Drill hole PD-17-01 (509m) was completed in the covered Central
Zone where soil geochemical and IP chargeability and resistivity
anomalies occur. Earlier reverse circulation drilling on the
target (NR dated Aug 14th, 2017) encountered zones of strong
phyllic alteration within diorites. PD-17-01 drilled through
diorites with anomalous background copper geochemistry and into
andesites. The hole failed to return any significant
intercepts; however, epithermal style alteration was present
throughout the hole.
Hole |
Zone |
|
From(m) |
To (m) |
Length (m) + |
Au g/t |
Ag g/t |
Cu % |
Au Eq* g/t |
PD-17-01 |
Central |
|
No significant intercepts |
|
|
- |
- |
- |
- |
PD-17-02 |
West |
|
3.5 |
485 |
482 |
0.16 |
0.12 |
0.02 |
0.19 |
|
|
including |
101 |
120 |
19 |
0.57 |
0.34 |
0.02 |
0.60 |
|
|
including |
278 |
353 |
75 |
0.32 |
0.17 |
0.01 |
0.35 |
|
|
including |
455 |
479 |
24 |
0.71 |
0.21 |
0.02 |
0.74 |
|
|
Also including |
464 |
465 |
1 |
11.97 |
2.44 |
0.02 |
12.03 |
PD-17-03 |
West |
|
15 |
293 |
278 |
0.09 |
0.11 |
0.02 |
0.12 |
|
|
including |
15 |
53 |
38 |
0.17 |
0.16 |
0.02 |
0.19 |
|
|
including |
111 |
137 |
26 |
0.29 |
0.23 |
0.06 |
0.40 |
+ - True
widths are unknown at this time, intervals reported represent core
lengths.* - Gold equivalent (Au Eg) was determined using: (US$) Au
$1300/oz, Ag $16.50/oz, Cu $3.00/lb; Au (g/t) + (Cu % x (Cu
$/lb / Au $/oz) x 0.06857 lbs/oz + Ag g/t (Ag $/oz / Au $/oz) |
|
|
ABOUT OK2 Minerals Ltd.
OK2 Minerals Ltd. is a Canadian-based junior
exploration company comprised of highly qualified mining
professionals with two very prospective copper-gold exploration
projects, the Pyramid Project and the Kinskuch Project, both
located in northwestern British Columbia on or within the “Golden
Triangle”.
ON BEHALF OF THE BOARD OF OK2 MINERALS
LTD. Per: “Minaz Devji” Minaz Devji, CEO and Director
OK2 Minerals Mike Devji (604) 258-8666
mike.devji@ok2minerals.com
Investor Relations Kin Communications
1-866-684-6730 (toll-free) ok@kincommunications.com
This news release was prepared by Company
management, who take full responsibility for its content. George
Cavey P.Geo, Director, is a Qualified Person as defined by National
Instrument 43-101 of the Canadian Securities Administrators and has
reviewed and approved the technical disclosure in this release.
The diamond drill core samples were prepared and
analyzed at the ISO certified SGS Canada Minerals facilities in
Burnaby, BC using a GE-IC14A procedure. IC14A is an Aqua Regia
Digestion with an ICP-AES as well as by a GE-IC14B procedure. IC14B
is an Aqua Regia Digestion with ICP-MS finish. Assay results for
gold were completed using the FAG303 procedure which is a 30g fire
assay, gravimetric finish. The company routinely inserted known
commercially prepared standards every 10th sample and did not
detect any QC/QA concerns from the analytical results.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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