Klondike Gold Samples Up to 42 g/t Au (1.36 opt Au) at Stander Zone

Rhea-AI Summary

Klondike Gold (TSX.V:KG, FRA:LBDP, OTCQB:KDKGF) announced promising results from its prospecting at the Stander Zone on its Klondike District Property in the Yukon. Significant findings included rock samples with gold concentrations of up to 41.2 grams per tonne (g/t), demonstrating the continuity of high-grade gold mineralization. Fieldwork, which began in May 2024, yielded eleven prospecting samples, five of which contained visible gold, with assays ranging from 0.24 g/t to 41.2 g/t. A Phase 2 drilling program of 2,500 meters has commenced, following a 2,750-meter Phase 1 program. Results from Phase 1 are pending and expected soon. The company’s participation in several upcoming investment conferences was also announced.

Positive

• Klondike Gold reported high-grade gold samples, with the best sample at 41.2 g/t Au.
• Five of eleven samples contained visible gold.
• Phase 1 drilling program of 2,750 meters was completed.
• Phase 2 drilling program of 2,500 meters has commenced.
• Pending assay results are expected soon, a sooner timeline than previous years.
• Active participation in upcoming investment conferences.

Negative

• The lowest assay result was 0.24 g/t Au.
• No immediate revenue or profit data were provided.
• Results are pending, creating uncertainty.

VANCOUVER, BC / ACCESSWIRE / June 18, 2024 / Klondike Gold Corp. (TSX.V:KG)(FRA:LBDP)(OTCQB:KDKGF) ("Klondike Gold" or the "Company") is pleased to report prospecting rock sample results from the Stander Zone targeting of orogenic gold (Au) mineralization at the Company's 100% owned Klondike District Property (the "Property") in the Dawson mining district, Yukon, Canada.

Peter Tallman, Klondike Gold's President & CEO states, "Persistent scientific and exploration efforts reevaluating the Klondike District are steadily being rewarded. An overlooked and potentially world-class orogenic gold belt is emerging as demonstrated by recent academic research results, by the Company's 2023 multiple discoveries of high grade orogenic gold veins at surface and in drill core, and by this news release confirming continuity of the Stander Zone to surface with >1 opt Au gold grade samples as demonstrated by prospecting. This has focussed the Company's multi-phase 2024 drill program on areas along Eldorado Creek as the best target for discovery of significant volumes of orogenic gold mineralization and near-term expansion of our existing Stander Zone mineral resource¹".

Field work began in early May 2024 with the objective to locate outcropping high-grade gold-bearing quartz veining on the Eldorado Creek slope projected to surface from four 2023 high grade gold-bearing drill intersections at the Stander Zone including 90.55 g/t Au (2.91 oz/t Au) over 0.55 meters among others (see news release of January 15, 2024).

Prospecting and hand trenching yielded quartz veining with visible gold in three areas spanning 150 meters distance along the surface projection of Stander Zone mineralization. Eleven prospecting samples were collected in total. The three best samples assayed 41.2 g/t Au (1.36 opt Au), 30.3 g/t Au (1.17 opt Au), and 24.9 g/t Au (0.77 opt Au) along strike from southeast to northwest respectively from each of the three areas. Visible gold was identified at each area. In total, five of eleven prospecting samples contain visible gold and all samples assayed gold between 0.24 g/t Au to 41.2 g/t Au. The lowest assay of 0.24 g/t Au was from a quartz rock sample with a visible gold grain; the gold grain presumably did not make it into the assay sub-sample.

These prospecting results are significant for potentially demonstrating continuity of high-grade (~1 opt Au) gold mineralization from 2023 discovery drill intercepts upward to surface exposures. The Company's recently concluded 2,750 meter Phase 1 drill program tested the Stander Zone in this area, as well as testing along-strike for similar mineralization.

Phase 2 drilling of ~2,500 meters has commenced. This phase tests the potential for high grade near surface and southeasterly striking gold veining at Stander Zone and also include tests for additional mineralization at the nearby Gay Gulch gold showing area.

The Company has contracted MSALABS to provide gold analyses by ‘PhotonAssay' for 2024. All Phase 1 drill core samples have been submitted for analysis. Drill assay results are pending and anticipated to be available in the coming weeks, a significant positive change in timing from previous years.

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 recent sample results did Klondike Gold announce for the Stander Zone?

Klondike Gold announced rock samples with gold concentrations up to 41.2 g/t at the Stander Zone.

When did Klondike Gold begin fieldwork at the Stander Zone?

Fieldwork began in early May 2024.

How many samples contained visible gold in the Stander Zone prospecting?

Five of eleven prospecting samples contained visible gold.

What is the gold grade range from Klondike Gold's recent samples?

The gold grade range is from 0.24 g/t to 41.2 g/t.

What is the status of Klondike Gold's Phase 1 drilling program?

The 2,750-meter Phase 1 drilling program has been completed, with results pending.

What is the goal of Klondike Gold's Phase 2 drilling program?

The goal is to test for high-grade near-surface gold veining at the Stander Zone and additional mineralization at Gay Gulch.

Which analytical method is Klondike Gold using for their 2024 gold samples?

Klondike Gold is using 'PhotonAssay' provided by MSALABS.

When are the assay results for Klondike Gold's Phase 1 drilling expected?

The assay results are anticipated to be available in the coming weeks.

Which upcoming events will Klondike Gold participate in?

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