Vancouver, BC – OK2 Minerals Ltd., (formerly known as Gold Jubilee Capital Corp.) (TSX-V:OK) is pleased to announce that it has completed Phase 1 of the 2016 exploration program on-schedule and under-budget on its 100% owned Pyramid copper-gold property located near Dease Lake, B.C.
Phase 1 consisted of detailed surface mapping and sampling and was focused on the West, Central and East Zones; all defined by significant results from the 2013 – 2015 field programs. Samples have been submitted to the lab and results are expected shortly. Phase 2 has commenced and will include a minimum 2000 metres of RC drilling at the West and East Zones.
As a result of the field work conducted thus far this year, the company has staked an additional 50 km2 to the northwest and south adjoining the existing claims. With a total project area of over 185 km2, Pyramid is now a district-size exploration project with numerous high priority targets with classic copper-gold porphyry-type alteration including outcrop samples containing high-grade gold and copper mineralization.
Mike Devji, CEO of OK2 Minerals, states “We are pleased to provide an update on the ongoing field program at our Pyramid project. Over the past three years we have demonstrated the potential of a largely unrecognized wedge of Quesnel Terrane by completing the first recorded work program in 2013, and subsequently advancing the project to a regionally important copper-gold target.”
Highlights of the Pyramid project from 2013 – 2015 exploration programs:
- Three significant zones within the project, defined by coincidental elevated Au and Cu (up to 4.2 g/t Au and 0.3% Cu) in soil geochemistry, up to 11.5 g/t Au and 0.70% Cu in rock geochemistry, positive magnetic responses, as well as interpreted IP chargeability and resistivity anomalies.
- The West Zone (formerly known as the MT Zone) is characterized by a 3.7 km2Au and Cu soil anomaly. Mapping and sampling have outlined open ended areas of copper mineralization over a 3km trend. Rock sampling has returned significant Au and Cu results (4.4 g/t Au and 0.41 % Cu). IP geophysics have outlined significant near surface and buried chargeability and resistivity anomalies.
- The Central and East Zones are defined by highly elevated geochemistry, especially noted at the East Zone, where rock sampling has returned up to 11.5 g/t Au. The Central and East Zones are captured in a >10 km2 copper and gold soil, silt and rock geochemical anomaly with coincidental IP chargeability and resistivity anomalies. Epithermal style vein hosted mineralization is present at the East Zone.
- The Quesnel Terrane, host to the Pyramid property, is the most productive geological terrane for large copper-gold porphyry mines in B.C. Operating mines in the Quesnel Terrane include the Highland Valley Mine, the New Afton Mine, the Mount Polley Mine and the Gibraltar Mine.
The Pyramid project was staked in 2013 following up on anomalous regional stream geochemical sampling completed by the BC government in 1980 and now our 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. OK2 is also pleased to be working with Orevista Exploration for field exploration consulting and regional project targeting.
ABOUT OK2 Minerals Ltd.
OK2 Minerals Ltd. (TSX-V: OK) is a Canadian-based junior exploration company with two very prospective copper-gold exploration projects, the Pyramid project and the Kinskuch project, both located in northwestern British Columbia adjacent to or within the “Golden Triangle”.
ON BEHALF OF THE BOARD OF OK2 MINERALS LTD.
Per: “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.
Analytical procedures are summarized in the Oct 21, 2014 and Sept 1, 2015 news releases.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.