Toronto, Ontario – October 10, 2023 – KO Gold Inc. (CSE:KOG) (“KO Gold” or the “Company”) is pleased to announce that the common shares of the Company will commence trading on the Canadian Securities Exchange (CSE) effective at the open of business on Wednesday, October 11, 2023, under the symbol “KOG“.
- KO Gold was founded in 2020 after several years of research into New Zealand’s gold deposits. The Company has developed a strategic plan to acquire and advance highly-prospective gold properties within the Otago Gold District in the South Island of New Zealand.
- KO Gold’s properties are located near TSX-listed OceanaGold’s Macraes Gold Mine, New Zealand’s largest active gold mine. Macraes has produced over 5 Moz of gold since 1990 and currently produces up to 135,000 oz of gold per year with a remaining mine life of at least 7 years (source: OceanaGold website).
- The Otago Gold District also hosts ASX-listed Santana Minerals’ Bendigo-Ophir Gold Project that contains a recent mineral resource estimate of 0.28 Moz of Indicated Resources at 4.3 g/t Au and 2.38 Moz of Inferred Resources at 2.5 g/t Au and continues to expand through drilling (source: Santana Minerals news release dated February 2, 2023).
- New Zealand is a safe, politically stable, and mining-friendly jurisdiction with an extensive history of gold, silver, coal, and iron ore mining, and the mining and petroleum industries are an important part of New Zealand’s economy. Exploration and mining activities are supported by local communities and indigenous Māori groups due to the long history of alluvial and hard rock gold mining in the Otago region.
- KO Gold currently has four 100%-owned prospecting and exploration permits in the Otago Gold District and has an option agreement with Hyde Resources Ltd. to acquire two exploration permits comprising the Smylers Gold Project, for a combined land package of approximately 972 km2 (Figure 1).
- The Smylers Gold Project is an advanced exploration project located adjacent to the Macraes Gold Mine and has the potential to host a major gold deposit based on significant investments in exploration and drilling over the past few years including over NZ$1 million spent by KO Gold.
KO Gold plans to continue drilling at the Smylers Gold Project to delineate a potential gold deposit, and complete prospecting, soil sampling, geophysics, and drilling programs on its other permits with significant discovery potential. KO Gold has access to local, highly-experienced geological teams and independent mining consultants such as RSC Consulting Ltd. to support all of its exploration and drilling programs.
Greg Isenor, President and CEO of KO Gold commented, “We are excited to list KO Gold on the CSE as it will allow us to grow the Company with new shareholders within a global market. Over the past 4 years, we have built a large portfolio of highly-prospective gold projects in the Otago Gold District, and we plan to further expand our property portfolio through strategic acquisitions to become the largest gold explorer in New Zealand. The Otago region is relatively underexplored, however, recent developments by OceanaGold and Santana Minerals prove there are still many major gold discoveries to be made in the Otago region. Our research in the Otago Gold District has identified several indicators pointing out a highly mineralized area with the potential to host large deposits.”
Figure 1: Location of KO Gold’s properties in Otago Gold District, New Zealand
Technical Summary for KO Gold properties
Full technical details on KO Gold’s properties can be obtained from the Company’s NI 43-101 Technical Report titled “Technical Report on the Otago Region Gold Properties, New Zealand” with an effective date of February 1, 2023, and filed on the Company’s SEDAR+ profile at www.sedarplus.com. Brief highlights from the Technical Report are shown below.
The KO Gold properties are located in the Otago region of the South Island of New Zealand and consist of four non-contiguous and two contiguous prospecting and exploration permits, for a total area of approximately 972 km2 (Figure 1). All of the KO Gold permits are currently classified as Tier-2 prospecting and exploration permits under the New Zealand Crown Minerals Act (1991). Exploration permits (EP) are granted for a term of 5 years, and prospecting permits (PP) are granted for 2 years. Exploration permits can be extended a further 5 years and prospecting permits another 2 years through an Extension of Duration (EOD) application with New Zealand Petroleum and Minerals (NZP&M).
KO Gold has 100% ownership of permits EP60702, PP60674, PP60705 and PP60727. In March 2021, KO Gold entered into an option agreement with Hyde Resources Ltd. granting KO Gold the option to acquire a 100% undivided interest in the Smylers Gold Project, which is comprised of EP60129 and EP60389.
Extensive geological and structural mapping has been conducted at the Smylers Gold Project and compiled with historical data to understand the mineralization and plan surface sampling and drilling. Combined, KO Gold and Hyde Resources Ltd. have collected a total of 349 rock-chip samples, 5,330 soil samples, dug 14 trenches totalling 832 m, and drilled 41 diamond and 64 reverse circulation (RC) drillholes for a combined total of 15,591 m. Exploration has identified seven gold prospects within EP60389 (Smylers Gold). Gold mineralization has been intercepted from surface to over 150 m deep, and significant assay intercepts include:
- 5 m at4 g/t Au including 1 m at 8.3 g/t Au
- 2 m at7 g/t Au
- 6 m at 2.14 g/t Au.
This news release contains scientific and technical information with respect to adjacent or similar mineral properties to KO Gold’s properties, which the Company has no interest in or rights to explore. Readers are cautioned that information regarding the geology, mineralization, mineral resources, and production history on adjacent or similar properties is not necessarily indicative of the mineralization on KO Gold’s properties.
Qualified Person Statement
All scientific and technical information contained in this news release was prepared and approved by Paul Ténière, P.Geo., Vice President of Exploration and Director of KO Gold Inc. who is a Qualified Person as defined by NI 43-101.
About KO Gold Inc.
KO Gold is a Canadian junior mining company listed on the CSE under the ticker symbol “KOG”. The Company’s strategy is to acquire and advance highly-prospective gold properties within the Otago Gold District in New Zealand. KO Gold has four 100%-owned prospecting and exploration permits in the Otago Gold District, and two exploration permits under option that comprise the Smylers Gold Project, for a combined land package of approximately 972 km2. The Smylers Gold Project is an advanced exploration project located adjacent to OceanaGold’s active Macraes Gold Mine. The Smylers Gold Project has the potential to host a major gold deposit based on significant investments in exploration and drilling over the past few years including over NZ$1M spent by KO Gold on exploration, and reverse circulation (RC) and diamond drilling.
For further information, please contact:
KO Gold Inc.
Suite 802 – Sun Tower, 1550 Bedford Highway
Bedford, Nova Scotia
B4A 1E6 Canada
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.
The information contained herein contains “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be “forward-looking statements.” Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company’s prospects, properties and business detailed elsewhere in the Company’s disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company’s expectations or projections.