OK2 Minerals Secures Drill Contractors for First Ever Regional Drilling Program at Pyramid Cu-Au Project in BC's "Golden Triangle"
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 2, 2017) - OK2 Minerals Ltd. (TSX VENTURE:OK) (the "Company" or "OK2") is pleased to announce it has signed contracts with two drilling contractors for the upcoming 2017 field season at its 100% owned Pyramid copper-gold project, located north of Dease Lake, at the northern tip of B. C's "Golden Triangle".
Pyramid is an early-stage exploration project, with excellent porphyry copper-gold potential, located in the renowned and productive Quesnellia Terrane in Northwest B.C. Nearby projects include the Red Chris Cu-Au Mine and Galore Creek Cu-Au deposit. The project was staked in 2013 and the Company has undertaken a number of exploration programs over the past four years including detailed geological mapping, soil and rock sampling, ground geophysics, airborne geophysics, and most recently, initial reconnaissance reverse circulation ("RC") drilling. Additional claims were added in 2016 to encompass new discoveries and the land package at the project is now quite large and totals 186 km2.
During the upcoming field season, OK2 intends to complete the reconnaissance RC drilling program started last fall. Contractor Northspan Exploration out of Kelowna will complete approximately 3,500 meters of drilling in a number of holes in the West, Central and East Zones to compliment the 665 meters drilled last fall in the West Zone prior to the program being halted due to inclement weather. Crews will mobilize to the site in mid-May to commence this program.
Results from the RC program will be used to target deeper diamond core holes which will be drilled later this summer. Contractor Omineca Drilling of Burns Lake has been retained to do an initial diamond core program of up to 2,000 meters commencing in early-August.
Highlights from previous News Releases dated October 21, 2014, September 1, 2015 and January 12, 2017 are presented below:
About the Pyramid West Zone
- Includes a 3.7 km2 gold (22.5 ppb) and copper (250 ppm) soil anomaly which, covers much of the zone with individual soil values as high as 4.2 g/t Au and 0.3% Cu;
- Rock sampling has returned values up to 4.4 g/t Au and 0.44% Cu;
- 2014 IP survey outlined a large, buried chargeability anomaly flanked by resistivity lows; the classical geophysical signature for a buried porphyry system;
- In 2016, all 5 RC drill holes intersected mineralized intrusives and all intervals returned anomalous copper values with associated elevated gold values.
About the Pyramid East Zone
- A 3.7 km2 area within which disseminated mineralization occurs with values of up to 0.90% Cu and 1.1 g/t Au;
- Fieldwork returned values as high as 4.6 g/t Au and 11.5 g/t Ag and 0.31% Cu, and 3.52 g/t Au, 7.87 g/t Ag, and 1.73% Cu, both in altered intrusives;
- Considered a high-priority Cu/Au target, that has never seen any drilling exploration.
About the Pyramid Central Zone
- 2014 IP survey outlined a large, buried IP high chargeability anomaly flanked by a resistivity lows and copper soil anomalies, the classic geophysical/geochemical signature for a buried porphyry.
Mike Devji, CEO states: "We are all very excited to have secured our contractors, enabling us to begin our drilling program later this month. We have spent four years and more than $3 million on the ground, as we conduct systematic exploration programs on this project that had never been explored until the Company acquired it in 2013. Each program has continued to increase our confidence in the Pyramid which shows many classic early-exploration signatures consistent with some of the largest producing copper mines in British Columbia. Given the results thus far and the fact that the Pyramid is in a very exciting mining district, we are looking forward to the upcoming field season."
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.
Minaz Devji, CEO and Director
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.
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.
Contact
OK2 Minerals
Mike Devji
(604) 258-8666
mike.devji@ok2minerals.com
Investor Relations
Kin Communications
1-866-684-6730 (toll-free)
ok@kincommunications.com