K2 Drills High-Grade Gold at Mojave Project: DF26-020 39.62m of 5.35 g/t Au; DF26-019 10.67m of 7.75 g/t Au; DF26-018 18.29m of 3.77 g/t Au
K2’s initial 2026 Mojave drill holes confirmed oxide gold but fell short of the high-grade gram-metre anchor established in 2020.
K2 Gold Corporation (KTO) has released the initial assay results from the first three holes of its 2026 Mojave drill program, all targeting the Dragonfly Zone at site DF-A. The company also provided data on several lower-grade intervals encountered during the drilling.
Key high-grade intervals reported, all downhole length, include:
- DF26-020: 39.62m at 5.35 g/t Au from 51.82m, including 25.91m at 7.14 g/t Au
- DF26-019: 10.67m at 7.75 g/t Au from 16.76m
- DF26-018: 18.29m at 3.77 g/t Au from 27.43m, including 7.62m at 7.48 g/t Au
The three holes were collared from the same pad, DF-A, located approximately 40m north of the main 2020 Dragonfly discovery intercept, DF20-002, which returned 45.72m at 6.68 g/t Au from surface.
Additional lower-grade intervals reported include:
- DF26-018: 7.62m at 0.43 g/t Au; 24.39m at 0.33 g/t Au, including 3.05m at 1.67 g/t Au
- DF26-019: 7.62m at 1.85 g/t Au; 3.05m at 2.27 g/t Au; 16.76m at 0.55 g/t Au, including 4.57m at 1.69 g/t Au
- DF26-020: 4.57m at 0.51 g/t Au from surface; 3.04m at 0.62 g/t Au; 10.67m at 0.28 g/t Au
As of the release, 15 holes have been completed for 2,630m of the fully permitted 14,000m campaign. Twelve additional holes are completed and awaiting assay results.
The release describes steeply west-dipping, sub-parallel structures within silicified and oxidized conglomerate, siltstone, and limestone. True widths are stated as unknown.
K2 Gold Corporation (KTO) remains a pre-resource junior explorer with no revenue, meaning its valuation is driven by exploration results and market sentiment. The stock has already seen significant movement, rising from approximately C$0.30 in August 2025 to C$0.84 prior to this release, placing it near its 52-week high of C$0.89.
The company’s historical anchor result, DF20-002, returned 45.72m of 6.68 g/t Au. The latest best intercept, DF26-020, returned 212 gram-metres, which falls below the historical anchor of 305 gram-metres. While not a dramatic miss, the result does not represent a clear beat.
The new data supports the thesis that high-grade oxide gold continues north of the 2020 discovery, though it does not yet prove a materially larger system. K2 Gold has cash of roughly C$31 million as of June 30 2026, no debt, and a fully funded drill campaign, which supports continued exploration but does not eliminate geological risk.
K2 Gold Corporation (TSX-V: KTO, OTCQX: KTGDF) is a pre-revenue gold explorer with no operating revenue, mineral resources, or reserves. The company’s primary assets include the fully owned Mojave Project in California, a flagship oxide-gold project spanning over 6,000 hectares; the Si2 Project in Nevada, a low-sulphidation epithermal gold target in the Walker Lane; the Wels Project in the Yukon, featuring structurally controlled gold within the Tintina Gold Belt; and the Wolf Project in the Yukon, a new district-scale gold staking with a soil anomaly exceeding 10km.
According to the company’s Management’s Discussion and Analysis, K2 Gold held cash of C$31.1 million as of June 30, 2026, with no debt and a working capital of approximately C$31.5 million. The company reported a net loss of C$5.33 million for the six months ended June 30, 2026.