Company
CVE:KG
Klondike Gold Corp. is a Canadian exploration company with offices in Vancouver, British Columbia, and Dawson City, Yukon Territory. The company is focused on exploration and development of its Yukon gold projects, accessible by government maintained roads located on the outskirts of Dawson City, YT, covering 527 square kilometers of hard rock and 20 square kilometers of placer claims including “McKinnon Creek” featured on the Discovery Channel show “Gold Rush”.
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The company could finally identify local bedrock sources of gold to begin accounting for the over 20 million gold ounces extracted from surface placer mining in the creeks and gulches since 1896
"The company plans to deliver an initial inferred mineral resource in 2022, prospectively the first in-situ bedrock gold resource ever identified in the 125-year history of gold exploration in the Klondike Goldfields,” CEO Peter Tallman sai
The phase of drilling tested over a lateral 4 kilometres and targeted graphitic thrust faults along Eldorado Creek, with 13 holes, for 886 meters, completed in October last year
The assays come from a Phase 3 drill program comprising 20 holes at the zone in 2021, which targeted two sub-areas - main and east - which are separated by around 2,500 metres along strike
The company intends to use the proceeds from the private placement to continue exploration and development of its Yukon properties, as well as for general working capital
The company intends to use the proceeds from the financing to continue exploration and development of its Yukon properties, as well as for general working capital.
The financing will comprise a flow-through placement and a non-flow-through placement
The company's Klondike district property covers 557 square kilometers and houses 2,942 claims
Today's results come from this year's Phase 2a diamond drilling at the Lone Star Zone, in which 12 holes for 1,222 metres (m) were sunk in July
Drilling at Lone Star is now complete and assays today hail from Phase IIb diamond drilling
The company has added a 1,500 metre Phase 4 drill program scheduled to begin in early September, which will include new high-priority targets generated by prospecting
The aim of the second phase drilling of a three-part program is to deliver a maiden resource from the over 3,000m length of Lone Star Zone
Phase 1 diamond drilling is now underway testing the Virgin and Lindow targets along Bear Creek - one of the significant placer gold producing creeks during the Klondike gold rush
The Virgin area lies10km north from the Lone Star and Stander Zones, and 6km from the company's office in Dawson City
The latest assays from last year's phase 4 diamond drilling show strong intervals of near-surface gold both within and outside the currently defined mineralized shell at Lone Star
The company is planning to drill an initial 6,000 metres in preparation for a maiden mineral resource estimate on the property, which is targeted for 2Q 2022
The company said the objective of the drill program was to test for mineralization that would aid in its efforts to establish a maiden mineral resource
In the second trance, the company issued 6.1 million flow-through units, each containing one flow-through share and one half warrant, at a price of C$0.30 per unit
The explorer said it aims to use the proceeds of the financing to continue advancing its Yukon properties, as well as for general working capital
The company will offer flow-through shares and normal common shares as part of the private placement
