Klondike Gold Eldorado Fault Prospecting Drill Results
Klondike Gold announces drill results from six exploration holes testing gold potential along the Eldorado Fault at its Klondike District Property in Yukon. Three holes on the west side of the fault revealed significant gold-bearing quartz veins, with highlights including 6.41 g/t Au over 1.0m and 8.25 g/t Au over 1.0m. Two of three holes on the east side intersected extensions of gold mineralization to the Gay Gulch and DJ Showings. The Eldorado Fault has been newly identified as a major crustal structure controlling gold mineralization, mapped over a 5km distance. The company also granted 5,600,000 stock options at $0.07, 1,200,000 RSUs, and 600,000 DSUs to directors, officers, and employees.
Klondike Gold annuncia i risultati di perforazione di sei fori di esplorazione che testano il potenziale aurifero lungo la Faglia Eldorado nella sua proprietà del Distretto Klondike nello Yukon. Tre fori sul lato ovest della faglia hanno rivelato significative vene quarzifere aurifere, con punteggi che includono 6,41 g/t di Au su 1,0 m e 8,25 g/t di Au su 1,0 m. Due dei tre fori sul lato est hanno intersecato estensioni della mineralizzazione aurifera verso Gay Gulch e DJ Showings. La Faglia Eldorado è stata recentemente identificata come una importante struttura crostale che controlla la mineralizzazione aurifera, mappata su una distanza di 5 km. L'azienda ha anche concesso 5.600.000 opzioni sul mercato a $0,07, 1.200.000 RSU e 600.000 DSU a direttori, funzionari e dipendenti.
Klondike Gold anuncia los resultados de perforación de seis agujeros de exploración que prueban el potencial de oro a lo largo de la Falla Eldorado en su propiedad del distrito de Klondike en Yukon. Tres agujeros en el lado oeste de la falla mostraron significativas vetas de cuarzo portadoras de oro, con destacados que incluyen 6.41 g/t de Au sobre 1.0 m y 8.25 g/t de Au sobre 1.0 m. Dos de los tres agujeros en el lado este intersecaron extensiones de mineralización de oro hacia Gay Gulch y DJ Showings. La Falla Eldorado ha sido identificada recientemente como una importante estructura de corteza que controla la mineralización de oro, mapeada sobre una distancia de 5 km. La empresa también otorgó 5,600,000 opciones sobre acciones a $0.07, 1,200,000 RSUs y 600,000 DSUs a directores, funcionarios y empleados.
클론다이크 골드가 유콘의 클론다이크 지구 소유지의 엘도라도 단층을 따라 금 잠재력을 시험하는 6개의 탐사 구멍에서의 드릴 결과를 발표했습니다. 단층의 서쪽에서 세 개의 구멍이 значимые 금 광맥을 발견했습니다. 이와 관련된 주요 결과로는 1.0m에 대해 6.41g/t의 금과 1.0m에 대해 8.25g/t의 금이 포함됩니다. 동쪽의 세 구멍 중 두 개는 게이 구치와 DJ 쇼잉스 방향으로 금 광물화의 연장을 교차했습니다. 엘도라도 단층은 최근 금 광물화를 제어하는 주요 지각 구조로서 새롭게 확인되었으며, 5km의 거리를 따라 매핑되었습니다. 회사는 또한 이사, 임원 및 직원에게 5,600,000 주식 옵션을 $0.07, 1,200,000 RSU 및 600,000 DSU로 부여했습니다.
Klondike Gold annonce les résultats de forages de six trous d'exploration testant le potentiel aurifère le long de la faille Eldorado sur sa propriété du district de Klondike au Yukon. Trois trous du côté ouest de la faille ont révélé des veines de quartz aurifères significatives, avec des points forts incluant 6,41 g/t Au sur 1,0 m et 8,25 g/t Au sur 1,0 m. Deux des trois trous du côté est ont intersecté des extensions de minéralisation aurifère vers Gay Gulch et DJ Showings. La faille Eldorado a été nouvellement identifiée comme une structure crustale majeure contrôlant la minéralisation aurifère, cartographiée sur une distance de 5 km. L'entreprise a également accordé 5 600 000 options sur actions à 0,07 $, 1 200 000 RSU et 600 000 DSU à des directeurs, des dirigeants et des employés.
Klondike Gold gibt die Bohrergebnisse von sechs Explorationslöchern bekannt, die das Goldpotenzial entlang des Eldorado-Fehlers in ihrem Klondike-Distrikt-Eigentum im Yukon testen. Drei Löcher auf der Westseite des Fehlers zeigten bedeutende goldführende Quarzadern, wobei herausragende Ergebnisse 6,41 g/t Au über 1,0 m und 8,25 g/t Au über 1,0 m umfassen. Zwei der drei Löcher auf der Ostseite schnitt Erweiterungen der Goldmineralisierung zu den Gay Gulch und DJ Showings. Der Eldorado-Fehler wurde neu als eine bedeutende krustale Struktur identifiziert, die die Goldmineralisierung kontrolliert und über eine Strecke von 5 km kartiert wurde. Das Unternehmen gewährt zudem 5.600.000 Aktienoptionen zu einem Preis von 0,07 $, 1.200.000 RSUs und 600.000 DSUs an Direktoren, Mitarbeiter und Angestellte.
- Discovery of significant gold intersections on west side: 6.41 g/t Au over 1.0m and 8.25 g/t Au over 1.0m
- Successful extension of gold mineralization on east side at Gay Gulch and DJ Showings
- Mapping of Eldorado Fault as major gold-controlling structure over 5km distance
- Insufficient drilling to determine true widths of mineralized zones
- One drill hole (EC24-548) was lost with no significant results
- Potential shareholder dilution from new stock options, RSUs, and DSUs grants
VANCOUVER, BC / ACCESSWIRE / November 28, 2024 / Klondike Gold Corp. (TSXV:KG)(FRA:LBDP)(OTCQB:KDKGF) ("Klondike Gold" or the "Company") is pleased to announce six exploration drill hole results testing for gold potential on both sides of the Eldorado Fault during the 2024 drill campaign within the Company's
The Company since 2015 has discovered significant bedrock gold mineralization on the east side of the Eldorado Fault at the Stander Zone, Nugget Showing, Gay Gulch Showing and others and outlined a first-ever Mineral Resource there. In 2024, new prospecting discoveries on the west side of the Eldorado Fault included significant outcropping high-grade gold mineralization along 5km at the Archy, Wasp, and DJ showings (see NR October 2, 2024). Six core holes reported here (EC24-544 to EC24-549) tested a small portion of the west and east sides of the Eldorado Fault zone. The drill area near the Gay Gulch gold showing was chosen because previous drilling provided constraint on location and geometry, dip and orientation of the Eldorado fault.
HIGHLIGHTS SUMMARY
Three holes testing the west side of the Eldorado Fault in a new area with no known mineralization and no previous drilling have all intersected significant gold-bearing quartz vein zones.
EC24-544 intersected a quartz vein averaging 6.41 g/t Au over 1.0 meter from 68.5 meters.
EC24-546 intersected a quartz vein averaging 8.25 g/t Au over 1.0m from 146.0m
Two of three holes testing the east side of the Eldorado Fault intersected significant lateral extensions of gold mineralization to the Gay Gulch and DJ Showings.
Peter Tallman, Klondike Gold's President & CEO states; "Local placer miners have long known that the most valuable claims in the Klondike goldfields with the coarsest gold nuggets are along a certain stretch of Eldorado Creek. Our final phase of drilling this year was intended to explore the economic potential of these areas adjacent to both sides of our newly mapped Eldorado Fault as a source control of bedrock gold mineral resources. This test was a success and in addition we have determined the quartz vein zones are stacked, with repetitions to depth, and the results we report today show the prospectivity of the Eldorado Fault as a primary locus of gold. Importantly 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."
DISCUSSION
The Eldorado Fault is newly recognized as a major crustal structure controlling emplacement of orogenic gold mineralization in the Klondike District. Crustal erosion has exposed orogenic gold veins to the current surface from this fault network resulting in concentration into the historic Klondike Goldfields surface placer gold deposits of ~20 million ounces of placer gold estimated total to date1 first discovered in 1896.
Work in 2024 for the first time has identified and traced the "Eldorado Fault" associated with bedrock gold mineralization through drill holes, geophysics, trenching and mapping over a 5km distance. The Company has mapped the Eldorado Fault as a west-dipping graphitic thrust fault zone separating granite to the west from a variety of ‘Klondike Schist' lithologies to the east. The Eldorado Fault structure with associated splay faults is inferred to transect the 50km length of the property.
2024 DRILLING
WEST SIDE ELDORADO FAULT:
Drill holes EC24-544 to EC24-546 tested the west side of the Eldorado Fault in an area with no previous drilling and no known gold mineralization. Holes were drilled in a north-easterly direction (030o azimuth). All three holes intersected gold-mineralized quartz vein zones.
West Side Highlights include:
Hole ID | From (m) | To (m) | Interval (m) | Au (g/t) |
EC24-544 | 68.50 | 69.50 | 1.00 | 6.41 |
EC24-545 | 72.00 | 79.00 | 7.00 | 0.37 |
EC24-546 | 146.00 | 147.00 | 1.00 | 8.25 |
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EAST SIDE ELDORADO FAULT:
Drill holes EC24-547 to EC24-549 tested for gold mineralization along the east side of the Eldorado Fault. Drill holes EC24-547 and EC24-548 drilled were in a southwesterly direction (210o azimuth). Drill hole EC24-549 drilled westerly (085o azimuth).
Hole EC24-547 targeted a 300 meter along-strike step-out from the DJ Showing. A new outcropping 3-meter wide quartz vein zone discovered earlier in 2024 at the "DJ Showing" assayed 7.9 g/t Au and 8.6 g/t Au in prospecting grab samples. EC24-547 intersected a gold bearing quartz vein zone between 244.0 to 250.5 meters downhole including individual quartz vein assays up to 6.86 g/t Au over 0.5 meters which is interpreted to be correlative to the DJ Showing mineralization.
Hole EC24-548 was lost in the Eldorado Fault with no significant result.
Hole EC24-549 tested for the eastern limit of the Gay Gulch mineralization envelope as the distance away from the Eldorado Fault increased. The hole was successful as the gold-bearing quartz veining persisted to a distance of ~150 meters from the Eldorado Fault where the hole ends in mineralization.
Summary results of all significant gold intervals are shown in Table 1 and drill hole collar locations and hole traces are shown in Figure 1.
Table 1: Summary of Significant Gold Intervals from West and East Eldorado Fault
Hole ID | From (m) | To (m) | Interval (m) | Au (g/t) |
EC24-544 | 68.50 | 69.50 | 1.00 | 6.41 |
EC24-544 | 68.50 | 70.50 | 2.00 | 4.23 |
EC24-544 | 117.00 | 118.00 | 1.00 | 1.11 |
EC24-544 | 132.00 | 132.50 | 0.50 | 1.13 |
EC24-544 | 154.00 | 156.00 | 2.00 | 0.58 |
EC24-545 | 72.00 | 79.00 | 7.00 | 0.37 |
EC24-546 | 15.00 | 16.00 | 1.00 | 0.81 |
EC24-546 | 133.00 | 137.00 | 4.00 | 0.17 |
EC24-546 | 146.00 | 147.00 | 1.00 | 8.25 |
EC24-546 | 150.50 | 151.79 | 1.29 | 1.47 |
EC24-547 | 48.00 | 65.50 | 17.50 | 0.39 |
EC24-547 | 244.00 | 245.00 | 1.00 | 0.85 |
EC24-547 | 249.00 | 250.50 | 1.50 | 2.65 |
EC24-547 | 250.00 | 250.50 | 0.50 | 6.86 |
EC24-548 | No significant assay |
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EC24-549 | 43.00 | 47.00 | 4.00 | 0.40 |
EC24-549 | 53.00 | 59.00 | 6.00 | 0.30 |
EC24-549 | 69.50 | 70.50 | 1.00 | 0.81 |
EC24-549 | 77.00 | 80.00 | 3.00 | 0.54 |
EC24-549 | 82.50 | 84.50 | 2.00 | 0.47 |
EC24-549 | 88.00 | 89.00 | 1.00 | 1.14 |
EC24-549 | 92.00 | 94.00 | 2.00 | 0.34 |
EC24-549 | 96.00 | 103.00 | 7.00 | 0.19 |
EC24-549 | 105.50 | 106.50 | 1.00 | 0.58 |
EC24-549 | 114.00 | 121.00 | 7.00 | 0.09 |
EC24-549 | 125.50 | 126.50 | 1.00 | 0.58 |
EC24-549 | 142.50 | 143.00 | 0.50 | 1.59 |
Only the intersection lengths of mineralization are reported here. Insufficient drilling has been done to constrain and map volumes of mineralized zones or adequately determine vein orientations from core measurements to determine estimated true widths ("ETW")2.
Figure 1: 2024 Eldorado Fault drill hole location map. Drill holes in this release are labelled.
Figure 2: Location of Eldorado Fault drill area (purple box) and Stander Zone MRE area with other significant nearby gold showings along the Eldorado Fault.
Figure 3: Klondike District Property extent with location of Gay Gulch / Stander Zone / Eldorado Fault 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.
GRANT OF COMPENSATION SECURITIES
The Company announces the granting of stock options, restricted share units ("RSUs") and deferred share units ("DSUs") in accordance with the its stock option plan, and its RSU and DSU plan.
An aggregate of 5,600,000 stock options were granted to certain Directors, Officers, employees and consultants of the Company at an exercise price of
In addition, an aggregate of 1,200,000 RSUs were granted to certain Officers, employees and consultants of the Company and 600,000 DSUs were granted to non-executive Directors. The RSUs will vest over three years in three equal tranches on the first, second and third anniversary of the grant date and DSUs will vest on the first anniversary of the grant date.
The grant of stock options, RSUs, and DSUs, are subject to regulatory acceptance of the TSX Venture Exchange.
ABOUT KLONDIKE GOLD CORP.
Klondike Gold is a Vancouver based gold exploration company advancing its
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
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.
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 north-easterly, 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.
3 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.
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.
SOURCE: Klondike Gold Corp.
View the original press release on accesswire.com
FAQ
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