Klondike Gold Completes 2,750m Drilling at Stander Zone

Rhea-AI Summary

Klondike Gold announced the completion of the first phase of 2024 exploration drilling at its Klondike District Property, focusing on the Stander Zone in Yukon, Canada. This phase involved 19 holes totaling 2,750 meters, aimed at expanding gold mineralization. Assays are pending. A second phase of approximately 2,500 meters will start soon to explore further high-grade gold veining and potential extensions.

Initial prospecting located quartz veining, with assays also pending. The company received new detailed prospectivity maps from RDC Consulting, aiding in identifying high-grade orogenic gold veins. Klondike Gold's President & CEO Peter Tallman praised the geology team and Kluane Drilling crew for their work.

Upcoming events include participation in investment conferences and property tours, providing opportunities for investors to learn more about Klondike Gold's progress.

Positive

• First phase of drilling completed 19 holes totaling 2,750 meters.
• Objective to expand gold mineralization in the Stander Zone.
• Discovery of high-grade gold veining in previous drill holes.
• Assays pending from latest drilling, indicating potential for positive results.
• Second phase of 2,500 meters drilling to begin soon, showing ongoing commitment.
• Initial prospecting located quartz veining, with assays pending.
• Received detailed prospectivity maps from RDC Consulting, aiding targeting efforts.
• Praise for the geology team and drilling crew indicates strong operational performance.

Negative

• Assays from the initial phase are still pending, creating uncertainty.
• No concrete financial data or immediate impact on revenue mentioned.
• The results of the prospecting efforts are not yet confirmed.
• Potential risks if the assays do not return expected results.

VANCOUVER, BC / ACCESSWIRE / June 11, 2024 / Klondike Gold Corp. (TSXV:KG)(FRA:LBDP)(OTCQB:KDKGF) ("Klondike Gold" or the "Company") is pleased to announce that it has completed the first phase of 2024 exploration drilling, completed initial prospecting, and received new detailed prospectivity interpretation of airborne magnetic data to aid ongoing targeting of orogenic gold (Au) occurrences at the Company's 100% owned Klondike District Property (the "Property") in the Dawson mining district, Yukon, Canada.

Highlights

• First phase of drilling completed 19 holes totalling 2,750 meters targeting Stander Zone gold mineralization with the objective of expanding gold mineralization adjacent the current Stander Zone mineral resource sub-area¹. Phase one drilling follows up the discovery of high grade (0.97 opt Au to 2.91 opt Au) gold veining in each of four 2023 drill holes over 400 meters strike length and 200 meters dip length (see news release of January 15, 2024). Assays pending.
• Second phase of drilling of approximately 2,500 meters is expected to begin this week to test the additional resource potential of high grade gold veining at Stander Zone and to test for potential extensions.
• Prospecting targeted the newly interpreted outcrop line on the Eldorado Creek slope of Stander Zone mineralization and successfully located and sampled areas of quartz veining. Prospecting continues in specific target areas. Assays pending.
• The Company received structural lineament and mineral potential maps interpreted from new reprocessing of magnetic datasets of the Property by RDC Consulting provided under a Klondike Gold / CASERM (Centre for Advanced Subsurface Earth Resource Models) research contract. Lineament analysis informs a regional structural recharacterization of the Klondike District Property developed by the Company to target the world class gold endowment present in the Klondike District. Detailed surface structural and lineament mapping in combination with systematic oriented drill core measurements is directly contributing to drill targeting of high-grade orogenic gold veins at the Stander Zone.

Peter Tallman, Klondike Gold's President & CEO states, "The first sixty days of 2024 field work including a full Phase 1 drill shift are complete. The geology team has made key observations that may lead to additional discoveries targeting high grade gold orogenic veining. A very large Klondike Gold team "Thank You" goes to the exceptional Kluane Drilling crew who achieved a record for core drilled in a shift and also a record for average core drilled per each shift for the month in May."

QUALITY ASSURANCE/QUALITY CONTROL

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. Exploration related technical information, specifications, analytical information and procedures can be found on the Company's website.

UPCOMING EVENTS

Klondike Gold will be participating in the following upcoming events:

• June 23 - 26: Invest Yukon Investment Conference/Property Tour (Dawson, YT)
• July 19 - 21: CEM TSX Venture Growth Conference (Kelowna, BC)
• August 12 - 16: Klondike Investment Conference/Property Tour (Dawson, YT)
• November 22 - 24: CEM Florida Capital Event (Miami, FL)

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-km length of the famous Klondike Goldfields placer district. Multi-km 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 Company is focused on exploration and development of its 727 square km 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.

¹ The 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.

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.

SOURCE: Klondike Gold Corp.

View the original press release on accesswire.com

FAQ

What did Klondike Gold complete in their first phase of 2024 drilling?

Klondike Gold completed 19 holes totaling 2,750 meters targeting the Stander Zone to expand gold mineralization.

What is the objective of Klondike Gold's first phase of drilling?

The objective is to expand the gold mineralization adjacent to the current Stander Zone mineral resource sub-area.

When will the second phase of drilling begin for Klondike Gold?

The second phase of approximately 2,500 meters drilling is expected to begin this week.

What are the assays pending from Klondike Gold's drilling?

Assays are pending for the 19 holes drilled in the first phase targeting high-grade gold veining.

What new data did Klondike Gold receive to aid their exploration?

The company received structural lineament and mineral potential maps interpreted from reprocessed magnetic datasets.

How has Klondike Gold's geology team been recognized?

The geology team received praise for making key observations and the Kluane Drilling crew was recognized for outstanding drilling performance.

What upcoming events will Klondike Gold participate in?

Klondike Gold will participate in the Invest Yukon Investment Conference, CEM TSX Venture Growth Conference, Klondike Investment Conference, and CEM Florida Capital Event.