K2 Gold (KTO.V) reported drill results from the first three drill holes of its 14,000-meter exploration campaign at the Mojave project in California.
Highlights from the Dragonfly zone include 39.62 meters of 5.35 grams per tonne (g/t) gold, 10.67 m of 7.75 g/t gold, and 18.29 m of 3.77 g/t gold, the gold exploration company said Tuesday.
K2 said the results indicate the presence of a very large mineralized system. The company also said it has completed 12 additional holes at Dragonfly, and plans to drill another 16 holes in the second phase.