Klondike Gold Drills 30.97 g/t Au (1.0 oz/t Au) over 0.5 meters and also 1464 g/t Ag (47.1 oz/t) over 3.52 meters
Klondike Gold Corp. announced the results of its 2021 Phase 4 diamond drilling at its Klondike District Property. Significant findings include 1,464 g/t Ag over 3.52 meters in hole EC21-436 and 30.97 g/t Au over 0.5 meters in EC21-439 at the Gay Gulch showing. Thirteen holes totaling 886 meters were drilled, targeting graphitic thrust faults. The Phase 4 program successfully extended mineralization at the Gay Gulch showing. Future drilling is planned for 2022 to further explore these promising results.
- 1,464 g/t Ag over 3.52 meters in EC21-436 indicates high silver mineralization.
- 30.97 g/t Au over 0.5 meters in EC21-439 demonstrates substantial gold presence.
- Phase 4 drilling extended mineralization at the Gay Gulch showing.
- None.
VANCOUVER, BC / ACCESSWIRE / March 24, 2022 / Klondike Gold Corp. (TSXV:KG)(FRA:LBDP)(OTCQB:KDKGF) ("Klondike Gold" or the "Company") is pleased to report results of 2021 Phase 4 diamond drilling at its Klondike District Property, located in the Dawson Mining District, Yukon, Canada. Phase 4 tested for mineralization associated with graphitic thrust faults over a 4 km strike length along Eldorado Creek including at the Gay Gulch gold showing.
Highlights from Phase 4 drilling along Eldorado Creek include:
- 1,464 g/t Ag (47.1 oz/t Ag) over 3.52 meters from 77.25 meters in EC21-436
- 30.97 g/t Au over 0.5 meters from 40.0 meters in EC21-439 at Gay Gulch Showing
Peter Tallman, Klondike Gold's CEO states "The multi-ounce silver intersection in EC21-436 is exciting. To the best of our knowledge, this is the first like it in the Klondike District and is associated with the major Eldorado Creek thrust fault adjacent to the Gay Gulch gold showing. We look forward to follow-up drill testing in this area of Eldorado Creek in 2022."
ELDORADO CREEK AREA PHASE 4 DRILLING
Phase 4 drilling tested over a lateral distance of 4.0 km targeting graphitic thrust faults along Eldorado Creek. Thirteen (13) holes totalling 886 meters were completed in October 2021. Phase 4 drilling follows from the identification in 2021 by the Company's geology team of major graphitic thrust faults at the Lone Star Zone and Stander Zone associated with the persistence of gold-bearing sheeted quartz veins intersected in Phase 2 - Lone Star Zone (see News Releases September 22, 2022 and September 27, 2022) and Phase 3 - Stander Zone (see News Release March 1, 2022) drilling adjacent to these faults.
The objective of Phase 4 was to determine if observed graphitic outcrops along Eldorado Creek including at Gay Gulch gold showing were associated with thrust faults, determine their orientation, and test for presence of mineralization. See Figure 1 and Figure 2 for Phase 4 drill hole locations and Table 1 for significant assay results.
The Phase 4 drill program was successful in extending gold mineralization at the Gay Gulch showing. EC21-439 intersected sheeted gold-bearing quartz veins hosted within and adjacent a graphitic thrust fault with the best individual assay of 30.97 g/t Au over 0.50 meters from 40.0 meters downhole. Additionally, EC21-440 intersected sheeted gold-bearing quartz veins across a broader interval, interpreted to be a ‘mineralization halo' that assayed 0.29 g/t Au over 30.0 meters from 33.0 meters downhole. Intersections are approximately true width based on oriented core measurements of gold bearing veins.
The Phase 4 drill program also intersected high grade silver-tungsten mineralization hosted within graphitic fault breccia located adjacent to the Gay Gulch showing. EC21-436 assayed 1,464 g/t silver (47.1 oz/t silver) with
Table 1: 2021 Eldorado Creek (Phase 4) Significant Results:
Hole ID | From (m) | To (m) | Grade (g/t Au) | Grade (g/t Ag) | Length (m) |
| EC21-433 | nsa | ||||
| EC21-434 | nsa | ||||
| EC21-435 | nsa | ||||
| EC21-436 | 77.25 | 80.77 | 1464 | 3.52 | |
| EC21-437 | nsa | ||||
| EC21-438 | nsa | ||||
| EC21-439 | 40.00 | 44.50 | 3.61 | 4.50 | |
| including | 40.00 | 40.50 | 30.97 | 0.50 | |
| EC21-440 | 33.00 | 63.00 | 0.29 | 30.00 | |
| including | 43.00 | 50.00 | 0.46 | 7.00 | |
| EC21-441 | 49.00 | 50.00 | 1.33 | 1.00 | |
| EC21-442 | nsa | ||||
| EC21-443 | nsa | ||||
| EC21-444 | nsa | ||||
| EC21-445 | 32.00 | 33.00 | 3.82 | 1.00 |
*nsa= no significant assay
Collar locations are shown in Figures 1 and 2 below.
Figure 1: Phase 4 drill holes along central Eldorado Creek (downslope of the Stander Zone ‘main' subarea shown in upper right).
Figure 2: Phase 4 drill holes along southeast Eldorado Creek including the Gay Gulch showing.
UPCOMING EVENTS
Klondike Gold Corp will be participating in the following upcoming events:
Red Cloud Financial Services hosted Webinar - April 2, 2022
Metals Investor Forum, Toronto - June 11 to June 12, 2022
PDAC Convention, Toronto - June 13 to June 15, 2022
All events are subject to change.
Upcoming corporate milestones include near-term completion and release of a Geology Technical Report followed thereafter in 2022 by completion of a mineral resource at the Lone Star Zone. Field work with 8,000 meters diamond drilling is planned to commence in May 2022.
2021 ASSAY PROTOCOLS
All 2021 drill holes referenced in this release produced NTW (5.71 cm dia.) drill core. Assay samples from drill core are cut using a diamond saw. Half the core sample interval is bagged, tagged, and sealed; the other half is returned to the core box with a corresponding tag retained for reference. Two gold reference standards, two blank samples (a coarse and a fine), and a coarse sample duplicate per 100 samples, are routinely inserted as part of Klondike Gold's quality assurance / quality control ("QA/QC") program, independent of and additional to the laboratory QA/QC program.
Sample bags are aggregated into rice bags, sealed, and submitted by Klondike Gold personnel to Bureau Veritas Mineral Laboratories ("BV Labs") preparation facility in Whitehorse, YT with chemical analysis of sample pulps completed in Vancouver, British Columbia. Bureau Veritas Labs is an accredited ISO 9001:2008 full-service commercial laboratory.
At BV Labs each drill core sample is crushed to
QUALIFIED PERSONS REVIEW
The technical and scientific information contained within this news release has been reviewed and approved by Peter Tallman, P.Geo., President of Klondike Gold Corp. and Qualified Person as defined by National Instrument 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 Corp. is a Vancouver based gold exploration company advancing its
ON BEHALF OF KLONDIKE GOLD CORP.
"Peter Tallman"
President and CEO
(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.
Disclaimer for Forward-Looking Information
"This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as "may," "will," "should," "anticipate," "plan," "expect," "believe," "estimate," "intend" and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Klondike in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Klondike's actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.
Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Klondike disclaims any obligation to update or revise any forward-looking information or statements except as may be required."
SOURCE: Klondike Gold Corp.
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