Cashu Research has initiated coverage on K2 Gold Corporation (TSXV: KTO) (OTCQX: KTGDF), focusing on the company's 100%-owned Mojave Project in Inyo County, California. The initiation report incorporates drill results from K2 Gold's largest-ever program at Mojave, including seven holes that all intersected high-grade oxide gold mineralisation. Investors may be watching the project closely as 16 additional holes remain pending assay, with drilling continuing at the Newmont Zone. Readers should note this is paid research; Cashu Research discloses a material commercial relationship with K2 Gold.

Key Points

  • K2 Gold Corporation (TSXV: KTO / OTCQX: KTGDF) is a pre-resource exploration company advancing the Mojave gold project in California
  • Cashu Research initiated coverage incorporating August 18 and September 9, 2026 Dragonfly drill results from K2 Gold's largest-ever drill program at Mojave
  • Standout intercept: 39.62 metres at 5.35 g/t gold in hole DF26-020, including 25.91 metres at 7.14 g/t gold; K2 Gold reported more than C$27 million in cash as at August 18, 2026
  • Investors are watching pending assays from eight Dragonfly holes and eight completed Newmont Zone holes, with results not yet reported

Dragonfly Drill Results Drive Cashu Research Initiation on K2 Gold's Mojave Project

As of September 9, 2026, K2 Gold had completed 23 holes for 4,182 metres of a fully permitted and funded 14,000-metre campaign. All seven reported 2026 Dragonfly holes intersected high-grade oxide gold. Hole DF26-020 returned 39.62 metres at 5.35 g/t gold, including 25.91 metres at 7.14 g/t. DF26-019 returned 10.67 metres at 7.75 g/t and DF26-018 returned 18.29 metres at 3.77 g/t, all from pad DF-A. Four additional holes from pad DF-F also returned notable intercepts, with DF26-024 delivering 3.05 metres at 17.55 g/t gold. The release states that reported widths are drilled widths and true widths are not yet known.

Mojave Project Fundamentals: Permitting, Funding and Oxide Mineralisation Near Surface

Cashu Research's report highlights three features of K2 Gold's current program. The U.S. Bureau of Land Management issued a Record of Decision in early 2026 authorising drilling from up to 22 sites, providing a significant permitted exploration footprint. K2 Gold reported more than C$27 million in cash as at August 18, 2026, no warrants outstanding, and a C$9.8 million 2026 budget, indicating the program is funded without immediate financing pressure. The Dragonfly intercepts are oxidised and begin close to surface, though the company has not yet published metallurgical testwork, leaving heap-leach or processing economics unconfirmed.

Newmont Zone and Eastside Gold Trend Broaden Mojave's Exploration Scope

Beyond Dragonfly, K2 Gold's 14,000-metre program targets the broader Eastside Gold Trend, which extends more than 6.5 kilometres and includes Dragonfly, the undrilled Gold Valley target, and the Newmont Zone. The Newmont Zone was previously tested by Newmont Exploration and BHP Minerals; historical hole NM20-011 returned 1.64 g/t gold over 41.15 metres. As of September 9, eight holes had been completed at the Newmont Zone with assays pending. The project currently has no mineral resource or reserve, and permitting a future mine in California would require a substantially more extensive process than current exploration approvals.