VANCOUVER, BC / ACCESSWIRE / October 29, 2024 / Klondike Gold Corp. (TSXV:KG)(FRA:LBDP)(OTCQB:KDKGF) ("Klondike Gold" or the "Company") is pleased to announce eleven drill hole results which tested for a southeastern extension of Stander Zone gold mineralization within the Company's 100% owned 727 km2 Klondike District Property (the "Property") in the Dawson mining district, Yukon, Canada. (see Figure 1).
Highlights Summary
High grade gold-bearing quartz vein zones within the Stander Zone southeastern extension demonstrate significant lateral and down-dip continuity. These new intersections correlate well with those mapped within the Stander Zone MRE.
EC24-534 intersected a quartz vein zone averaging 21.50 g/t Au over 4.0 meters from 96.50 meters including individual quartz veins assaying 76.07 g/t Au (2.45 opt Au) over 1.0m and 9.54 g/t Au over 1.0m.
EC24-541 intersected a quartz vein zone averaging 4.84 g/t Au over 9.0m from 118.0m including two high grade intervals of 35.44 g/t Au over 0.50m and 18.59 g/t Au over 0.60m.
Mineralization intersected in these drill holes remains open to depth and along strike.
Additional drill results are pending.
Peter Tallman, Klondike Gold's President & CEO states; "These results reveal a 300-meter strike extension to the stacked high grade gold quartz vein zones that is the economic target within the Stander Zone. This drilling adding 50% to the southeastern strike length of Stander Zone mineralization with these high-grade intervals is an excellent result and a significant predictive success by the exploration team. Our work continues to demonstrate the considerable unrealized economic potential of the Klondike District Property as we unlock and derisk the value for our shareholders."
In 2024 the Company conducted a resource expansion and discovery drill program targeting Stander Zone gold mineralization as outlined in the Company's November 10, 2022 Mineral Resource Estimate ("MRE")1. A total of 26 holes for 4,160.52m were completed in this overall program divided into phases targeting specific Stander Zone adjacent subareas.
Eleven core holes reported here (EC24-518 to EC24-520, EC24-532, EC24-535, and EC24-38 to EC24-541) tested a 300 meter southeastern strike length for continuity of gold mineralization beyond the 2022 Stander Zone MRE extents. These holes successfully intersected significant intervals of high grade gold mineralization to extend the strike length of the Stander Zone 300 meters to the southeast beyond the 600-meter length of the MRE extents. Summary results are shown in Table 1 and drill hole collar locations are shown in Figure 1.
Table 1: Summary of Significant Gold Intervals at Stander Zone Eastern Extension
Hole ID | From (m) | To (m) | Interval (m) | Au (g/t) |
EC24-518 | 38.00 | 39.50 | 1.50 | 2.60 |
EC24-519 | 23.20 | 26.00 | 2.80 | 1.08 |
And | 59.50 | 60.15 | 0.65 | 11.15 |
EC24-520 | 127.00 | 129.00 | 2.00 | 0.63 |
EC24-532 |
| No significant assay |
|
|
EC24-533 | 49.00 | 54.00 | 5.00 | 1.48 |
Including | 50.00 | 50.50 | 0.50 | 9.67 |
EC24-534 | 96.50 | 100.50 | 4.00 | 21.50 |
Including | 96.50 | 97.50 | 1.00 | 9.54 |
And | 99.50 | 100.50 | 1.00 | 76.07 |
EC24-535 | 61.50 | 62.50 | 1.00 | 2.13 |
EC24-538 |
| No significant assay |
|
|
EC24-539 | 45.50 | 50.00 | 4.50 | 0.77 |
Including | 49.00 | 50.00 | 1.00 | 2.26 |
And | 80.50 | 83.00 | 2.50 | 6.51 |
Including | 82.00 | 83.00 | 1.00 | 11.79 |
EC24-540 | 42.50 | 43.50 | 1.00 | 5.63 |
And | 53.00 | 56.00 | 3.00 | 1.87 |
EC24-541 | 118.00 | 127.00 | 9.00 | 4.84 |
Including | 124.00 | 124.50 | 0.50 | 35.44 |
And | 125.50 | 126.10 | 0.60 | 18.59 |
The intersection lengths reported here are estimated true widths ("ETW")2. These 2024 results are not included in the Company's November 10, 2022 Stander Zone mineral resource estimate ("MRE")1 which was based upon 40 initial holes completed from 2015 through 2021 using a gold price of $1,700 USD and a 0.2 g/t Au cut-off.
Figure 1: 2024 Stander Zone program drill hole location map with 2022 MRE pit outline for reference. Drill holes in this release are labelled.
Discussion
New understanding of the Stander Zone and deeper drilling in 2024 has demonstrated multiple stacked gold-bearing 'quartz vein zones' exhibiting along-strike and 35o dip continuity. New drilling reported in this news release has intersected high grade quartz vein zones continuing 300 meters to the southeast beyond the extent of the Mineral Resource area. This follows the previous news release (see NR 22 October, 2024) reporting extension of mineralization adjacent and beneath the Mineral Resource with similar high gold grades.
The Stander Zone mineralization is associated with a 5 kilometer corridor of mineralization adjacent the major Eldorado Fault now recognized by the Company to be a master control of orogenic gold mineralization within the Klondike District.
Figure 2: Location of Stander Zone MRE area and other significant nearby gold showings along the Eldorado Fault.
The overall objectives of 2024 Klondike District Property drill testing at Stander Zone include:
Diamond drilling to test for expansion of the Stander Zone mineral resource area, and specifically to follow up high grade (>1 opt Au) gold drill intersections from late 2023; with 7 drill holes still pending.
Diamond drilling to test for expansion of extents of Gay Gulch Showing gold mineralization; with 6 drill holes still pending.
Prospecting and drill testing for repeated stacked gold-bearing quartz vein zones predicted by orogenic gold deposit models, targeting potential for deeper gold mineralization.
Figure 3: Klondike District Property extent with location of Stander Zone exploration area (purple outline) near Dawson.
QUALIFIED PERSON
The technical and scientific information contained within this news release has been reviewed and approved by Peter Tallman, P.Geo., President and CEO of Klondike Gold and Qualified Person as defined by NI 43-101 policy. Detailed technical information, specifications, analytical information and procedures can be found on the Company's website.
ABOUT KLONDIKE GOLD CORP.
Klondike Gold is a Vancouver based gold exploration company advancing its 100%-owned Klondike District Gold Project located at Dawson City, Yukon, one of the top mining jurisdictions in the world. The Klondike District Gold Project targets gold associated with district scale orogenic faults along the 55-kilometer length of the famous Klondike Goldfields placer district. Multi-kilometer gold mineralization has been identified at both the Lone Star Zone and Stander Zone, among other targets. The Company has identified a Mineral Resource Estimate of 469,000 Indicated and 112,000 Inferred gold ounces1, a milestone first for the Klondike District. The Stander Zone ("MRE") was published November 10, 2022 based upon 40 initial holes completed from 2015 through 2021 using a gold price of $1,700 USD and a 0.2 g/t Au cut-off.
The Company is focused on exploration and development of its 727 square kilometer property accessible by scheduled airline and government-maintained roads located on the outskirts of Dawson City, Yukon, within the Tr'ondëk Hwëch'in First Nation traditional territory.
ON BEHALF OF KLONDIKE GOLD CORP.
"Peter Tallman"
Peter Tallman,
President and CEO
FOR FURTHER INFORMATION:
Telephone: (604) 609-6138
E-mail: info@klondikegoldcorp.com
Website: www.klondikegoldcorp.com
Neither the 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.
Certain statements contained in this news release constitute "forward-looking statements". When used in this document, the words "anticipated", "expect", "estimated", "forecast", "planned", and similar expressions are intended to identify forward-looking statements or information. These statements are based on current expectations of management, however, they are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking statements in this news release. Readers are cautioned not to place undue reliance on these statements. Klondike Gold does not undertake any obligation to revise or update any forward-looking statements as a result of new information, future events or otherwise after the date hereof, except as required by securities laws.
Forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, market volatility; the state of the financial markets for the Company's securities; fluctuations in commodity prices and changes in the Company's business plans.In making the forward looking statements in this news release, the Company has applied several material assumptions that the Company believes are reasonable, including without limitation, that the Company will continue with its stated business objectives and its ability to raise additional capital to proceed. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. The Company seeks safe harbor.
For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedarplus.ca.
1The Mineral Resource Estimate for the Klondike District Property was prepared by Marc Jutras, P.Eng., M.A.Sc., Principal, Ginto Consulting Inc., an independent Qualified Person in accordance with the requirements of NI 43-101. The technical report supporting the Mineral Resource Estimate entitled "NI 43-101 Technical Report on the Klondike District Gold Project, Yukon Territory, Canada" has been filed on SEDAR at www.sedarplus.ca effective November 10, 2022. Refer to news release of December 16, 2022.
2 Estimated True Widths for reported vein intercepts are based on oriented core measurements of individual veins where available or measured angles perpendicular to vein margins, and/or 3D models of vein intercepts. The measured and model average "sheeted extensional vein" dip is 35o northeasterly, and typical drill hole dip angle is 55o southwesterly. Other potentially oblique gold-mineralized veins (eg. "quartz breccia veins") may be present. Differences between individual ETWs and down-hole interval lengths may vary between drill holes depending on drill hole azimuth and inclination, variations in vein zone strike and dip, and overall geometries of the different vein systems.
SOURCE: Klondike Gold Corp.
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