By VANCOUVER, B.C. — K2 Gold Corporation (TSX-V: KTO | OTCQX: KTGDF | FSE: 23K) has released highly encouraging initial gold-solubility metrics from the Dragonfly Zone at its 100%-owned Mojave Project, located in Inyo County, California.
The new metallurgical data bolster the company’s development thesis, pointing to a pervasive oxide environment that could prove exceptionally amenable to conventional, cost-effective extraction methods like heap leaching.
Unlocking Leachable Potential at Dragonfly
According to the company, an analysis of 211 mineralized samples extracted from seven reverse-circulation (RC) drill holes during the 2026 program yielded an aggregate soluble-gold-to-fire-assay-gold (AuCN/AuFA) ratio of 97.1%. Individual hole aggregates across this sample set demonstrated remarkable consistency, ranging from 93.4% to 99.9%.
President and CEO Anthony Margarit emphasized the significance of these findings, noting that the data align closely with the deep oxidation profile observed in the field.
“The results provide an encouraging first indication that a high proportion of the gold in the Dragonfly samples tested is readily soluble,” stated Anthony Margarit. “This is consistent with the widespread deep oxidation profile we have visually observed in drilling at Dragonfly and Newmont.”
High individual intervals underscored the strong solubility performance. For instance, a 3.05-meter interval grading 17.55 g/t Au in hole DF26-024 registered a 97.0% ratio, while an 18.29-meter interval grading 3.77 g/t Au in hole DF26-018 hit a 99.4% ratio.
Historical Check Assays Validate 2026 Findings
The current 2026 data are further supported by historical check assays conducted by K2 in 2020. Re-evaluating 206 paired coarse-reject samples from nine holes spanning both the Dragonfly and Newmont zones produced an aggregate AuCN/AuFA ratio of 95.0%.
When broken down, the 2020 Dragonfly and Newmont sub-totals stood at 95.0% and 94.9% respectively. This multi-year consistency reinforces management’s confidence in the structural continuity and chemical behaviour of the gold-bearing iron-oxide-rich sedimentary units across the property.
Geological Context and Next Steps
The Mojave property encompasses a +6,000-hectare oxide gold system. Historical operators such as Newmont Exploration and BHP Minerals previously identified widespread oxidation extending to depths of at least 237 meters, with preliminary BHP “cyanide shake” tests indicating recoveries of up to 91% on material exceeding $0.5~g/t~Au$.
Building on these foundational results, K2’s immediate technical roadmap includes:
- Comprehensive Bottle-Roll Testing: Partnering with a qualified metallurgical laboratory to evaluate gold extraction over time, reagent consumption (cyanide and lime), and particle-size effects across representative composites.
- Ongoing Drilling Progress: Advancing the fully permitted, active drill campaign. K2 has already completed eight additional holes at the Newmont target—situated approximately 2 kilometres south of Dragonfly along the >6.5-kilometer-long Eastside Gold Trend—with assay results pending.
While these preliminary solubility ratios offer a strong technical foundation, K2 notes that comprehensive bottle-roll programs and pilot testing will be required before definitive commercial-scale recovery metrics can be established. Backed by a healthy treasury exceeding $27 million, K2 remains well-funded to advance its portfolio of North American gold assets through systematic exploration and rigorous metallurgical evaluation.
