K2 Gold Achieves Significant Permitting Milestone for Mojave Project, California
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K2 Gold’s wholly owned subsidiary, Mojave Precious Metals (MPM), has received a positive decision letter from the United States Department of the Interior, Bureau of Land Management at its 100 percent owned Mojave Project located in Inyo County, California. The BLM decision on the update to the plan of operations (PO) is an important milestone in the process for expanded Phase II exploration drilling at key zones where Phase I drilling yielded significant gold intercepts.
Although this BLM decision does not constitute authorization for MPM to start its Phase II exploration drilling plans, the BLM decision allows for commencement of the formal initiation of the National Environmental Policy Act (NEPA) environmental review process. At a time specified by the BLM, MPM will update its reclamation cost estimate and post reclamation financial assurance for the additional exploration work.
“We are extremely pleased to have achieved this important permitting milestone for Mojave’s second phase drilling program. We look forward to methodically advancing this highly prospective project and building upon last year’s successful program,” said John Robins, chairman.
MPM submitted an amendment to its PO for Phase II drilling that is based on enhanced environmental and site data. The PO meets the federal regulatory requirements and addresses environmental resources through measures incorporated in the project design.
Surface Exploration Proposed in Plan of Operations
• The establishment of 30 drill pads to support exploration in three key mineral zones
• Reverse circulation (RC) and/or diamond core drilling of up to 120 drill holes
• Reconstruction of approximately 4.3 kilometres (2.7 miles) of previously reclaimed access roads
The BLM’s review of the PO determined it is consistent with BLM’s 3809 regulations to conduct mineral exploration activities in a manner consistent with the regulations to avoid unnecessary and undue degradation. The planned surface disturbance and surrounding study area are within a block of 121 mining claims encompassing 2,424 acres (980 ha) area of the Mojave Property. The work addresses potential environmental effects by capitalizing on the footprints of prior activities while expanding the mineral information with up to 36km of drilling.
K2 and MPM are committed to transparency, accountability, environmental stewardship, safety, diversity and inclusion, and community engagement.
About K2 Gold
K2 is a well-financed gold and silver exploration company with approximately C$6 million cash and projects in SW USA and the Yukon. In the USA, the company is represented by its 100 percent subsidiary, Mojave Precious Metals Inc. The company is focused on the Mojave property in California, a 5,830-hectare oxide gold project with base metal targets. The location of Mojave enables the company to have year-round news flow on multiple previously recognized surface gold targets that have been successfully drilled in the past by majors BHP and Newmont.
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