Vancouver, British Columbia — January 19, 2026 — Leads & Copy — K2 Gold Corporation (TSXV: KTO) (OTCQB: KTGDF) (FSE: 23K) plans to commence drilling at its Si2 Project near Tonopah, Nevada, around January 21, 2026.
The fully funded drill program will consist of up to 2,000 meters over 4-6 drill holes. Drilling is expected to begin on January 21, 2026.
The program will test high-priority structural and geochemical targets identified through geological studies completed in 2025, as well as recently acquired geophysical information. These studies include fluid-inclusion analysis, alteration mineralogy, age dating, an integrated structural interpretation, and an IP survey.
Collectively, the studies indicate that Si2 represents the upper levels of a large, intact low-sulphidation epithermal system proven to carry gold, with strong potential for higher-grade gold mineralization preserved at depth.
In 2023, K2 drilled four holes at the Si2 Project, which demonstrated increasing gold values with depth. However, the holes were terminated in anomalous but sub-economic gold grades. Subsequent alteration and fluid inclusion studies indicate that the 2023 drill holes were within 50-100 meters of the interpreted boiling zone of the epithermal system.
The 2026 program will test priority structural corridors at greater depths, targeting the interpreted optimal boiling-zone horizon of the epithermal system.
Geological characteristics observed at Si2 are considered analogous to AngloGold Ashanti’s nearby 16.3Moz Au Silicon Project, which has emerged as one of the most significant new epithermal gold discoveries in the Walker Lane Trend.
Anthony Margarit, President & CEO of K2 Gold, stated that based on new results and interpretations, Si2 is now a highly compelling project from a technical perspective. He noted the fluid-inclusion work was a turning point, indicating the system is intact, preserved, and that K2’s 2023 drilling came close but was not deep enough to test the boiling zone. Margarit added that the combination of alteration studies, age dating, geophysical information, and similarities to AngloGold Ashanti’s Silicon discovery lead the company to believe they are about to drill one of the most exciting new epithermal targets in the Walker Lane.
The Si2 Project shares multiple geological and structural characteristics with AngloGold Ashanti’s Silicon Project (renamed the Arthur Gold Project):
- Volcanic-hosted, low-sulphidation epithermal systems in Nevada, both located within a highly endowed gold belt that favors structurally controlled deposits.
- Steam-heated alteration “cap” at surface, a classic upper-level feature that can mask stronger gold zones at depth in intact epithermal systems.
- Fault-controlled plumbing systems, with mineralizing fluids focused along major structures that control higher-grade targets in both districts.
- Zoned epithermal architecture, with alteration patterns at Si2 consistent with being above the productive gold horizon, similar to early-stage interpretations at Arthur.
- Depth as the primary opportunity, with both systems relying on drilling beneath shallow, surficial alteration to test the projected boiling zone where grades commonly improve.
The drill program will comprise 4-6 reverse circulation holes totaling up to 2,000 meters, designed to systematically test the interpreted boiling-zone horizon at depth along the highest-priority structures defined by the Company’s integrated geological model.
Epithermal systems are a major deposit class globally, with many important examples located within the Walker Lane Trend of Nevada and eastern California. Epithermal deposits have historically been important sources of gold and silver due to their near-surface, structurally controlled mineralization. When preserved and not deeply eroded, these systems can host blind-to-surface, vertically zoned mineralization which may have been historically overlooked. Defining and understanding this zonation, including locating the “boiling zone” where precious metals precipitate, can reveal high-priority exploration targets.
Precious metal deposition in epithermal systems typically occurs in the “boiling zone,” where hot, metal-rich fluids rising towards the surface begin to boil due to dropping pressure. Fluid boiling results in the precipitation of the metals previously held in solution, forming high-grade veins and breccias. Boiling in typical low sulphidation epithermal gold systems occurs at temperatures of >220°C, and most commonly between 230 and 240°C.
Fluid Inclusion Analysis and Microscopic Study: Through study of trapped inclusions or bubbles of hydrothermal fluid within quartz veins, the temperature of the fluid can be determined, and depth of formation of the vein inferred. Vein formation temperatures can aid in exploration targeting by revealing the level of the epithermal system encountered by drilling.
Fluid inclusions examined from six core samples reveal low-salinity (0.5-6 wt.% NaCl equiv.) aqueous fluids trapped at temperatures of ~130-200°C, warming downwards through the core of the drilled interval. These characteristics, along with microscopically observed vein textures, confirm the shallow-level nature of the drilled interval and support the interpretation of a blind, deeper gold-bearing zone. No evidence of significant boiling was observed in the inclusions, suggesting that the productive zone lies below the depth tested.
The alteration study, based on 108 spectral analyses from 95 drill core samples, delineates a classic vertically zoned epithermal system, with a systematic transition from steam-heated alunite and kaolinite/dickite at surface into progressively higher-temperature assemblages (smectite → illite-smectite → illite → illite-chlorite). Variations in illite abundance and locations of quartz-illite ± adularia alteration suggest proximity to primary fluid pathways and fault-controlled mineralization.
The AOI1.5 fault in particular hosts an approximately 6 m thick silicified and quartz-veined interval at 200m depth with adjacent anomalous gold, indicating a strong target for follow-up drilling down-dip and along strike.
Eric Buitenhuis, M.Sc., P.Geo., K2’s QP and Vice President of Exploration, has reviewed and approved the technical information in the news release. Petrographic sections used in the fluid inclusion study were prepared by Precision Petrographics of Langley, British Columbia, and submitted to Colorado State University for analysis.
K2 Gold is focused on advancing gold exploration projects in mining-friendly jurisdictions across the Western U.S. and Canada. The Company’s flagship Mojave Project covers over 6,000 hectares and includes multiple previously drilled oxide gold targets. Since acquiring the project, K2 has advanced exploration through geochemical, geophysical, and remote sensing surveys, as well as RC drilling.
Notable past drill highlights at Mojave include:
- 4.0 g/t Au over 86.9m from surface at the Dragonfly Zone
- 1.69 g/t Au over 41.15m at the Newmont Zone
K2 also holds:
- The Si2 Gold Project in Nevada, a large steam-heated alteration system with confirmed gold mineralization and compelling similarities to AngloGold Ashanti’s Expanded Silicon project (3.40 Moz Au at 0.87 g/t Au Indicated Resource, 12.91 Moz Au at 1.03 g/t Au Inferred Resource1.
- The Wels Project in Yukon, Canada, where recent drilling intersected gold in all holes and outlined a new mineralized corridor at the Saddle South target.
K2 Gold is committed to responsible exploration, Indigenous and community engagement, and advancing high-quality projects through a collaborative and technically disciplined approach.
Anthony Margarit, President and CEO, 778-266-1456, info@k2gold.com
Source: K2 Gold Corporation
