VANCOUVER, BRITISH COLUMBIA–(Marketwired – Oct. 12, 2016) – OK2 Minerals Ltd., (the “Company”) (TSX VENTURE:OK) is pleased to provide further information on Phase I of the 2016 exploration project on its 100% owned Pyramid copper-gold property located near Dease Lake, B.C.
The Phase 1 exploration program at the Pyramid Property consisted of geological and alteration mapping on the West and East Zones as well as regional scale mapping and prospecting along trend to the northwest and southeast limits of the property.
Mapping and sampling on the West and East Zones revealed zoned alteration typical of porphyry copper-gold and epithermal gold deposits respectively. Regional work led to the discovery of two new zones: the Chili Zone in the SE portion of the property and Zone 37, located adjacent to the West Zone.
|Summary of highlighted samples|
|Sample||Zone||Type||Cu %||Au g/t|
Zone 37 is located 2.5km southeast of Highway 37 and is adjacent to the West Zone. It includes an area with Brucejack-style epithermal expressions, including quartz stockworks and quartz blow outs. The zone is defined by rock samples grading from background to 83 g/t Au (2.67 oz/ton) and 0.47% Cu from a narrow quartz-carbonate-chlorite vein.
Chili Zone encompasses a 15km2 alteration assemblage located 5-10km along trend to the southeast from the West Zone. Discovery of this zone required the company to expand our land position considerably as reported in the news release dated Sept 20, 2016. The zone contains rock samples with disseminated mineralization grading from background to 0.15% Cu and background to 0.18 g/t Au. Within this zone is a large, high level alteration zone with up to 10% disseminated pyrite with intense silica and sericite development. This zone remains relatively unexplored and will be followed up with a soil geochemical, IP geophysical survey, and detailed mapping in future exploration programs.
The Company has commenced a 5-10 hole, reverse circulation (RC) drill program on the West Zone. The helicopter supported RC rig has capabilities of reaching 200m depth and will be used primarily as a reconnaissance drill that will help prioritize areas for subsequent diamond drilling. To date, four holes have been completed with the fifth hole currently in progress. The early onset of winter conditions has slowed the progress of the drilling. Upon conclusion of the RC drilling program, all samples will be shipped to SGS Labs in Vancouver for analyses.
The Pyramid project was staked in 2013 following up on anomalous regional stream geochemical sampling completed by the BC government in 1980 and detailed exploration has demonstrated the porphyry copper gold potential for this under explored project located in the highly prospective Quesnel Terrane in Northwest B.C. Nearby projects include Red Chris and Galore Creek Cu-Au deposits.
ABOUT OK2 Minerals Ltd.
OK2 Minerals Ltd. (TSX VENTURE:OK) (formerly known as Gold Jubilee Capital Corp.) is a Canadian-based junior exploration company comprised of highly qualified mining professionals with two very prospective copper-gold exploration projects, the Pyramid project and the Kinskuch project, both located in northwestern British Columbia on or within the “Golden Triangle”.
ON BEHALF OF THE BOARD OF OK2 MINERALS LTD.,
Minaz Devji, CEO and Director
This news release was prepared by Company management, who take full responsibility for its content. George Cavey. P.Geo, Director, is a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators and has reviewed and approved the technical disclosure in this release.
The rock samples were prepared at the ISO certified SGS Canada Minerals in Burnaby, B.C. and analyzed at the SGS Canada Minerals facilities in Burnaby using a GE-IC14A procedure. IC14A 1 is an Aqua Regia Digestion ICP-AES finish and GE-FAA311 fire assay with an AAS finish.
This news release contains forward-looking statements including in connection with the timing of future work programs. These statements reflect management’s current assumptions and expectations. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements and OK2 Minerals undertakes no obligation to update such statements, except as required by law.
1 (866) 684-6730