VANCOUVER, British Columbia, Nov. 28, 2017 (GLOBE NEWSWIRE) -- OK2 Minerals Ltd .(OK.V) (the “Company” or “OK2”) is pleased to provide updates on its Kinskuch Lake project in the southern Golden Triangle and the Pyramid Project, located north of Dease Lake B.C at the northern edge of the Golden Triangle.
The Kinskuch Lake project is a copper-gold porphyry project located in an emerging precious metals district. The tenure is surrounded by Hecla Mining, and neighbouring projects include the Dolly Varden Silver camp and the Homestake Ridge Au project. The geological model on Kinskuch is analogous to the world class Mitchell deposit at the KSM project (Seabridge Resources).
Late season work at Kinskuch Lake identified a new zone of mineralization with an additional 14 grab samples grading from background values up to 7.2% Cu, 4.2 g/t Au and 21.6 g/t Ag in high-level porphyry mineralization. The new area is located approximately 750m south of the main trend of mineralization and is described as quartz sericite pyrite (QSP) altered diorite with high level stockwork veining, epithermal veining and skarn mineralization.
The Kinskuch Lake project has seen a rapid evolution of the geologic model, where past operators targeting a vertical system, did not outline the horizontal setting of the porphyry mineralization. Work by the British Columbia Geological Survey, UBC Department of Geology and OK2 in the summer of 2017 determined that deeper core zone alteration and mineralization, which is typically tested with deep drilling is now present at surface. New sampling in these regions of interest have returned very promising results over 2.25km of trend with 42 rock samples returning an average of 0.57% Cu and 0.35 g/t Au (see news release dated Sept 12, 2017). These rock samples come from areas with limited or no historic sampling and some are from areas of recent glacial retreat.
At the Eastern margin of this trend is a 200m deep drill hole, drilled by Canadian Empire Mining in 2003, which returned values of 0.86% Cu and 0.64g/t Au over 25m and bottomed in 50m of 0.33% Cu and 0.21 g/t Au (see news release dated Aug 17, 2016). Additional diamond drill holes on the property reported in the historic BC government assessment files include intervals of 1.22% Cu over 16.2m and 0.23% Cu over 43.7m from holes completed by Forest Kerr Mines in 1965.
OK2 Minerals has received the data from its Airborne ZTEM survey flown in conjunction with Dolly Varden Silver and Hecla Mining Company on the Kinskuch Lake project. The company is awaiting the final technical report from our geophysical consultant that will incorporate the data from the airborne survey with the Company’s recent mapping and rock sampling results.
The 2017 exploration program on the Company’s Pyramid project consisted of 11 RC drill holes (see news release dated Aug 14, 2017) and three diamond drill holes totalling 1,366 metres. The diamond drilling produced visually encouraging results, with mineralization encountered in the West Zone in two drill holes, spaced roughly 800m apart. All the drill core samples are currently being analysed at the SGS Canada laboratory in Burnaby BC and the company is awaiting the results. Follow up drilling in 2018 will include additional testing of the West Zone and new drilling in the East Zone.
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 RC rock chip samples were prepared at the ISO certified SGS Canada Minerals in Burnaby, B.C. and analyzed at the SGS Canada Minerals facilities in Burnaby using a GE-IC14A procedure. IC14A is an Aqua Regia Digestion with an ICP-MS finish. The company routinely inserted known commercially prepared standards every 10th sample and did not detect any QC/QA concerns from the analytical results.
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