The Cretaceous–Paleogene (K–Pg) boundary, formerly known as the Cretaceous–Tertiary (K–T) boundary, is a geological signature, usually a thin band of rock. K, the first letter of the German word Kreide (chalk), is the traditional abbreviation for the Cretaceous Period and Pg is the abbreviation for the Paleogene Period.
The K–Pg boundary marks the end of the Cretaceous Period, the last period of the Mesozoic Era, and marks the beginning of the Paleogene Period, the first period of the Cenozoic Era. Its age is usually estimated at around 66 Ma (million years ago), with radiometric dating yielding a more specific age of 66.043 ± 0.011 Ma.
The K–Pg boundary is associated with the Cretaceous–Paleogene extinction event, a mass extinction which destroyed a majority of the world's Mesozoic species, including all dinosaurs except for birds.
In 1980, a team of researchers consisting of Nobel prize-winning physicist Luis Alvarez, his son, geologist Walter Alvarez, and chemists Frank Asaro and Helen Michel discovered that sedimentary layers found all over the world at the K-Pg boundary contain a concentration of iridium many times greater than normal (30 times the average crustal content in Italy and 160 times at Stevns on the Danish island of Zealand). Iridium is extremely rare in the earth's crust because it is a siderophile element, and therefore most of it sank with iron into the earth's core during planetary differentiation. As iridium remains abundant in most asteroids and comets, the Alvarez team suggested that an asteroid struck the earth at the time of the K-Pg boundary. There were other earlier speculations on the possibility of an impact event, but no evidence had been uncovered at that time.