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Drill Results Material +

K2 Gold Receives Positive Record of Decision for Exploration Drilling at the Mojave Project, California

Record of Decision clears final hurdle, paving way for flagship Mojave drilling

By The Northwire Desk — AI Analysis Apr 08, 2026 · 11:53 KTO · 0.68 K2 Gold Corporation
Executive Summary
  • The U.S. Bureau of Land Management issued a positive Record of Decision (ROD) approving K2 Gold’s proposed exploration‑drilling program at its 100 % owned Mojave Project in California.
  • The regulatory milestone concludes the NEPA environmental review, allowing immediate mobilization and drilling on the Dragonfly, Newmont, Central and Morningstar target areas.
  • K2 reports a treasury balance of $33.9 million with no outstanding warrants as of March 10 2026.
  • High‑grade oxide gold grades from historic work are highlighted (e.g., 4.02 g/t Au over 86.89 m at Dragonfly).
Material Impact
  • Regulatory de‑risking: The ROD removes the final permitting barrier for Mojave, converting a speculative project into an operational drill campaign. This is a material catalyst that directly addresses one of the company’s biggest execution risks.
  • Capital adequacy: A cash balance of $33.9 M comfortably funds the announced drilling program without immediate need for additional financing, reducing dilution risk.
  • Ownership certainty: 100 % ownership eliminates JV‑related royalty or profit‑share obligations, improving project economics.
  • Market expectation vs. reality: The market had been anticipating a permitting decision; however, the speed of approval (issued on the same day as the news release) exceeds typical timelines and signals strong BLM confidence, making the announcement materially positive rather than merely routine.
KTO · Price
Company Overview
  • K2 Gold Corp. focuses on high‑grade epithermal gold systems in the western United States (Mojave, California) and Nevada (Si₂).
  • Flagship Mojave Project: 5,830 ha, 100 % owned, historic intercepts up to 4.02 g/t Au over 86.9 m (Dragonfly) and surface grab samples >375 g/t Au. Multi‑metal potential includes Cu and Ag.
  • Si₂ Project: Low‑sulphidation epithermal system in Nevada, with fluid‑inclusion studies indicating a deeper “boiling zone” yet to be tested.
Read the original news release →

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Regulatory