Klondike Gold eyeing potential open-pit gold resource as it kicks off drilling again at Lone Star
Preparation for the drill sites is underway in Yukon for the phase four work
Company
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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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Preparation for the drill sites is underway in Yukon for the phase four work
Phase two drilling saw five holes sunk, which all intersected near-surface gold mineralization and successfully identified areas for further drilling
The results open up a large area with gold potential to test further to the east along the known three-kilometre mineralized strike length on the property
The firm said 13 holes were completed at the Lone Star Zone, compared to nine planned
Diamond drilling is underway with approximately 9 holes targeting the Lone Star Zone in phase 1, while a phase 2 program targeting Stander Zone and a phase 3 program targeting Stander Zone extensions are also planned
The project is accessible by scheduled airline and government-maintained roads located on the outskirts of Dawson City, Yukon
"The funds allow the company to plan for a targeted, meaningful work program conducted under operating conditions that protects our local host community, our contractors and our employees"
The company intends to use the proceeds to continue exploration and development at its Yukon properties
Jasvir Kaloti had been appointed as its chief financial officer to replace Jessica Van Den Akker
Results support Klondike’s understanding that structures on the property are conduits for gold-bearing fluids
In May this year, the company kicked off a US$2 million exploration program
Archive
A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
The drill assays come from the Gay Gulch gold showing along the Eldorado Fault, where seven holes were sunk
Under the terms of agreement, Klondike will receive a 10% gold production royalty from the placer mining
The Vancouver-based firm said that the funds will support drilling and related exploration work which will now continue well into October
The Vancouver-based firm said 12 holes had tested the zone, with the results from nine reported today
Archive
A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
The group noted that the highest gold-soils correlate well with the Nugget zone and show new high-priority prospective areas along-strike to the northwest
Archive
A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
The exploration company is planning to drill between 15 and 20 holes at the Lone Star Zone, where two holes drilled in 2018 intersected extended lengths of near surface gold mineralization