Canada-based mineral exploration company K2 Gold has commenced drilling operations at its fully owned Si2 Gold Project, situated around 59km west of Tonopah in Nevada, US.

Located within the Walker Lane Trend, the site is also 20km from Allegiant Gold's Eastside deposit, which contains reported resources of 1.4 million ounces (moz) of gold and 8.8moz of silver.

The current drill programme aims to explore deeper targets across the property following substantial technical studies and reinterpretation of the site.

Findings have reclassified Si2 as a low-sulfidation epithermal gold system, with prior exploration having only investigated the surface-level expressions.

This marks the first instance where K2 is targeting deeper sections where significant gold mineralisation is often found in similar systems.

The decision to undertake this drilling effort stems from detailed scientific and technical analysis that highlights the untapped potential of Si2.

This project shares several characteristics with AngloGold Ashanti's Arthur Project.

The initiative aims to accelerate discoveries at Si2, alongside K2's flagship Mojave Project.

K2 Gold president and CEO Anthony Margarit said: “The commencement of this drill programme is a direct result of our technical team's strength. Their work has fundamentally upgraded the Si2 geological model.

“We are now drilling the most compelling targets identified to date – testing both previously undrilled structures and the depths where our studies indicate the most productive levels of the Si2 epithermal system should lie. Si2 gives K2 a second, high-conviction discovery opportunity in one of the most proven gold districts in the US.”

The Si2 project is road-accessible and comprises 118 lode claims under the management of the Bureau of Land Management, covering an area of 986 hectares.