Toronto, Ontario--(Newsfile Corp. - February 24, 2025) - KO Gold Inc. (CSE: KOG) ("KO Gold" or the "Company") is pleased to provide an update on its drilling plans in the Otago Gold District in New Zealand. The Company plans to complete reverse circulation (RC) and diamond drill holes on its Carrick, Hyde, Smylers, and Glenpark exploration permits. This drilling program will focus on: (1) Priority: the discovery of high-grade mineralized shear zones or lode gold within the Carrick Goldfield, which is located southwest of Santana Minerals Rise & Shine Shear Zone ("RSSZ") of the Bendigo-Ophir Project, and (2) testing the extensions of the Hyde-Macraes Shear Zone ("HMSZ") adjacent to OceanaGold's active Macraes Gold Mine (Figure 1).
KO Gold currently has a total of eight, 100%-owned prospecting and exploration permits for a total of 740 km2 of prospective ground in the Otago Gold District.
Drilling Plans in Order of Priority:
1 Carrick (See Figure 2)
- Up to 18 drill holes are planned on the Carrick EP within the Carrick Goldfield targeting high-angle, lode-style gold mineralization and low-angle, shear-hosted gold mineralization within the Carrick-Potter Shear Zone (CPSZ). Historical drilling intercepted several mineralized intercepts grading between 1 to 4 g/t Au over 3 to 17 m including higher grade intervals of 7.4 g/t Au and 14.5 g/t Au over 2 m. KO Gold will test extensions to gold mineralization in the Lower Carrick Target through both twinning and step-out drilling.
2 Smylers (See Figure 3)
- Up to 13 drill holes are planned on the Smylers Gold EP immediately adjacent to the Macraes mining permit (MP) to test for southeast extensions of the HMSZ and confirming the presence of significant gold mineralization. This drilling program is a continuation of KO Gold's successful 26-hole RC and diamond drilling program completed in 2021 that intersected high-grade gold mineralization, including 9 m at 1 g/t Au and 5 m at 3.4 g/t Au (incl. 1 m at 8.3 g/t Au) at the Kensington and Williams prospects.
3 Hyde (See Figure 4)
- Up to 4 drill holes are planned on the Hyde EP adjacent to the Macraes MP to test for northwest extensions of the gold mineralized HMSZ.
4 Glenpark (See Figure 5)
- Up to 4 drill holes are planned on the Glenpark EP immediately adjacent to the Macraes MP to test for down-dip extensions of the HMSZ east of the mine. These drill holes will target the possible extension of the Taylors and Shaws lode and possible basal hanging wall structure of the HMSZ at deeper depths.
Figure 1: KO Gold's permits in Otago Gold District, New Zealand
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9895/242005_4e81c75b1411682e_001full.jpg
KO Gold is currently organizing a drilling program including selecting a drilling contractor, finalizing private landowner and DOC access agreements, and completing Maori (iwi) consultations. Drilling is expected to commence once these tasks have been completed and will include a combination of both RC and diamond drilling and be fully supported by a highly experienced geological team based in New Zealand.
Greg Isenor, President and CEO of KO Gold commented, "The Otago Gold Belt has been under-explored and has all the indicators pointing to major gold discoveries. Our exploration team has been successful in assembling a large land position with both drill-ready targets and grass roots exploration potential. At present we have four drill-ready target areas. The Carrick Goldfield, in particular, is exciting as we are both twinning and stepping out down dip from previous high grade gold intersections. The Smylers, Hyde, and Glenpark drilling allows KO Gold to test for north, south and down dip extensions of the Macraes deposit.
We see the Otago Gold Belt of New Zealand now, as to where the Birimian Gold Belt of West Africa was 30 years ago, as having exceptional potential, hosting many gold deposit indicators and with very little detailed exploration. Now the Birimian is an extremely prolific gold producer. The Otago Gold Belt has the same potential. This is evidenced by the many gold deposit indicators in the Otago and Santana's recent success at the Bendigo-Ophir Project."
Figure 2: Lower Carrick Target historical results and Planned Drill Holes
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9895/242005_4e81c75b1411682e_002full.jpg
Figure 3a and 3b: Smylers Recent Drill Hole Results and Planned Drill Holes
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9895/242005_4e81c75b1411682e_003full.jpg
Figure 4: Hyde Proposed Drill Holes along NW Extension of Hyde-Macraes Shear Zone
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9895/242005_4e81c75b1411682e_004full.jpg
Figure 5a and 5b: Glenpark Proposed Drill Holes East of Macraes Mine Permit
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9895/242005_4e81c75b1411682e_005full.jpg
Cautionary Statements and Data Verification
This news release contains scientific and technical information with respect to adjacent properties to the Company's properties in the Otago Gold District, which the Company has no interest in or rights to explore. Readers are cautioned that information regarding the geology, mineralization, and mineral resources on adjacent properties is not necessarily indicative of the mineralization on the Company's properties.
The Qualified Person (QP) has reviewed the historical scientific and technical information on the Carrick Gold Project from historical reports and scientific papers, but has not yet fully verified the sampling, analytical, and test data underlying this information. Current limitations include getting access to original assay certificates or the general lack of original assay certificates from the historical drilling on the Carrick EP and the need to potentially twin or re-drill a significant portion of the historical drill holes to verify historical gold grades and mineralized widths.
Qualified Person Statement
All scientific and technical information contained in this news release was prepared and approved by Paul Ténière, P.Geo., Vice President of Exploration and Director of KO Gold Inc. who is a Qualified Person as defined by NI 43-101.
About KO Gold Inc.
KO Gold is a Canadian junior exploration company listed on the CSE under the ticker symbol "KOG". The Company's strategy is to acquire and explore highly prospective gold properties within the Otago Gold District in New Zealand. KO Gold has eight 100%-owned prospecting and exploration permits within the Otago Gold District for a combined land package of 740 km2. The Company's Smylers and Glenpark EP's are located adjacent to OceanaGold's Macraes Gold Mine and the Carrick EP hosts the historic Carrick Goldfield which holds promise as a significant gold deposit near Santana Minerals' Bendigo-Ophir Gold Project. KO Gold has spent over C$ 3M in exploration and drilling on its permits in the Otago Gold District over the past five years including reverse circulation (RC) and diamond drilling on its Smylers EP.
For further information, please contact:
| Greg Isenor, President and CEO, Director Tel: (902) 832-5555 Email: info@kogoldnz.com Website: www.kogoldnz.com | KO Gold Inc. Suite 802 - Sun Tower, 1550 Bedford Highway Bedford, Nova Scotia B4A 1E6 Canada |
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.
Forward-Looking Information
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/242005
SOURCE: KO Gold Inc.
