Klondike Gold expecting series of assays from Yukon exploration in coming months
The firm said 47 holes (for 3,500 meters) have been sunk so far from a minimum of 60 holes planned
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”.
74 stories · page 4 of 4
The firm said 47 holes (for 3,500 meters) have been sunk so far from a minimum of 60 holes planned
The Klondike gold rush in the area took place between 1896 and 1899
The junior company is drilling at the zone as part of its 60-hole, $2 million exploration campaign to find high-grade gold at the Klondike District Project in Yukon
This year’s drill campaign will focus on the Gay Gulch Zone of the project to follow up on high-grade gold mineralization discovered on the property in 2015
In the second tranche, the firm issued 750,000 non-flow-through units at C$0.20 each for gross proceeds of C$150,000
The junior gold explorer has started a $2 million exploration program consisting of nearly 6,000 metres of drilling to confirm the presence of high-grade gold
The company is actively exploring its Lone Star gold target in Yukon Territory, Canada
The company said funds raised will go towards continued exploration and development of the company's Yukon projects and for general working capital
The company is focused on exploring the Lone Star gold target at the confluence of Bonanza and Eldorado creeks
The miner said in a statement that the final 27 drill holes of its 2018 drill program tested various targets including the Nugget Zone
Of nine holes at the eastward extension, one intersected 0.93 gram of gold per ton over 90.6 meters and another encountered 0.81 gram per ton over 79.7 meters
One of a further nine holes drilled intersected 1.02 grams per ton of gold over 91 meters starting from near the surface, the company said in a press release.
Klondike Gold elected five new directors to its board
So far, final assays have been received and released from 42 of the 87 diamond drill holes completed in 2018