K2 Gold - Mojave Exploration Update: High-Grade Results and Expanding Dragonfly

The KE Report Oct 15, 2026 20:14

Summary

K2 Gold's Dragonfly target returned a 53-meter intercept at 2 grams per tonne, with 18 more holes at the Newmont target awaiting assays.

Cyanide solubility tests - a quick proxy for how well gold leaches - return 97-99%, pointing to conventional processing for Dragonfly's oxide gold.

Polymetallic targets widen the story: sediment-hosted copper samples to 24.8% and silver samples above 2,700 grams per tonne.

The CEO says the untested central target sits on the King Columbia Basin fault, the fluid pathway that controls the gold trend.

About $25 million in the treasury funds 14,000 meters of drilling and carries the program into 2027.

The CEO says every hole drilled at Dragonfly in 2026 has so far returned a high-grade core of roughly 5 g/t gold across an estimated 40-50 m true width, extending beyond 220 m depth, with average cyanide-solubility recoveries of 99% and 97% on all samples above 0.1 g/t.
He attributes the September 22 intercept of 53.3 m at 2 g/t gold, including 15.24 m at 5.33 g/t plus another 5 m at 1.63 g/t on the same wall, to one of several stacked structures rather than a single vein, with up to five stacked zones inside a 400 m wide corridor.
The 14,000-15,000 m 2026 drill plan on the 5 km Eastside Gold Trend was about half done as of mid-October 2026 at roughly 7,500 m and 33 holes, with 18 Newmont holes in the lab and one more Dragonfly pad flagged for the next news release; grades there are expected to drop to 1.5-2 g/t as the structure flattens to about 30 degrees.
Polymetallic targets are advancing alongside the gold: surface samples at Stega run up to 24.8% copper with 4-10 g/t gold, and single samples at Morningstar ran 2,700 g/t silver, more than 4 g/t gold and 25% copper, with a second contracted rig due on site to drill Morningstar first.
The company is holding roughly $25 million in treasury and expects to end 2026 near $20 million, which the guest says provides runway into 2027 and supports his goal of four rigs turning on the property by mid-2027.

Top takeaway As host, Fleck anchors the update on the September 22 Dragonfly intercepts and presses the guest on whether the new rock samples extending the Dragonfly strike to about 1,000 m will be drilled this year or in a follow-up program.
He asks the guest to rank the project's targets in priority order and to size the cash needed to finish the current work program and fund future drilling.

Top takeaway His central argument is that the Eastside Gold Trend is one large, structurally continuous system rather than a series of isolated targets: about 6.5 km of strike with a 400 m wide corridor of stacked structures, and he expects connecting Dragonfly to Newmont to build the scale of ounces on the project.
He says the mineralization sits in clean, favourable limestone along the King Columbia Basin fault, which he describes as the main fluid pathway, and argues the completely undrilled central area between Dragonfly and Newmont is where the structure likely changes dip and may set the geometry for the trend.
He frames the property as a potential host of three separate mines, with oxide gold on the Eastside trend, skarn and CRD style mineralization at Morningstar, and sediment-hosted copper with gold at Stega, and says he sees very few comparable projects in North America.
He ranks the targets as Eastside Gold Trend first, then Morningstar, Stega, Soda Ridge and Soda Valley, and says he would like four drill rigs turning on the property by the middle of 2027.
He says the operation is on budget and on schedule with about six people out sampling, prospecting and mapping in the field, and that slower news flow is only because the assay lab is backlogged at the end of the season.