Drilling Underway at K2 Gold's Mojave Project
K2 Gold begins fully funded drilling at its flagship Mojave project as Si2 assay results approach.
K2 Gold Corporation has officially commenced its 2026 exploration and drilling program at its 100%-owned Mojave Project in Inyo County, California. The initial phase targets the Dragonfly and Newmont zones with 5,650 meters of drilling, utilizing an approved Plan of Operations that allows for up to approximately 14,000 meters across the Eastern Target Area. The program is fully permitted following a multi-year federal Environmental Impact Statement review and is fully funded with a $9.8 million exploration budget.
Concurrent surficial exploration continues at the Flores, Gold Valley, and Stega targets, with historical grab samples showing up to 375 g/t Au at Gold Valley and 14.2% Cu at Stega. The company granted 8,195,000 incentive stock options to directors, officers, employees, and advisors at an exercise price of $0.70/share for a 5-year term. This announcement follows the completion of a 3,871m RC drill program at the Si2 Project in Nevada on June 18 and the mobilization of the drill rig to the Dragonfly Target on June 16.
K2 Gold Corporation (KTO) has begun drilling at its Mojave project, marking the execution of a previously announced and fully funded exploration plan. The company has completed key de-risking steps, including securing 100% ownership, obtaining the BLM Record of Decision, and closing a $25.25 million financing in February 2026.
Financially, the $9.8 million budget for 2026 is covered by the $34.1 million cash balance reported in Q1 2026, which eliminates near-term dilution risk from operational funding. Following the April OTCQX upgrade and permitting news, the stock has consolidated in the $0.67–$0.75 range. The market has likely priced in the drilling start date, suggesting a muted immediate price impact unless drill intercepts significantly exceed historical averages, such as greater than 4.0 g/t Au over extended widths.
K2 Gold Corporation is an exploration-stage gold company focused on the Western United States and Canada. Its flagship asset is the Mojave Project, a 5,830-hectare oxide gold project with base metal targets located in Inyo County, California. Historic highlights from the site include 86.9m @ 4.0 g/t Au from surface at the Dragonfly Zone and high-grade grab samples up to 375 g/t Au at Gold Valley.
The company also holds secondary projects, including the Si2 Project in Nevada, a low-sulphidation epithermal system on the Walker Lane Trend, and the Wels and Wolf Projects in the Yukon Territory, located in the Tintina Gold Belt. K2 Gold has transitioned from land assembly and permitting to active, fully-funded exploration.