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Klondike Gold identifies extensive gold soil anomalies at Yukon property

The company is focused on exploring the Lone Star gold target at the confluence of Bonanza and Eldorado creeks

A gold pour
The company is on the hunt for gold in Yukon

Klondike Gold Corp (CVE:KG) (OTCMKTS:KDKGF) said Wednesday results from last year's regional exploration programs across its wholly owned Klondike district property in the Yukon included the identification of extensive gold soil anomalies.

The work included airborne magnetic and radiometric surveying, soil surveying, geological mapping, structural mapping and prospecting.

Klondike is focused on exploring the Lone Star Gold target at the confluence of Bonanza and Eldorado creeks, within the 557-square-kilometer property.

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The Rabbit fault was identified from an airborne survey, and nine significant gold soil anomalies were identified near that fault through the length of the Klondike property.

The nine anomalies range from between 1 kilometer and 4 kilometers in length, and the previously identified gold soil anomaly associated with the Lone Star Zone has been extended by the 2018 survey along strike in both directions to 4 kilometers in length, the company said.

Meanwhile, three distinct gold soil anomalies were identified in the region of Quartz Creek, while five distinct gold soil anomalies are in the Sulphur Creek to Gold Run Creek area.

Lithologic mapping

Klondike also revealed that lithologic mapping had defined the domains of major units and identified individual units such as ultramafics and lamprophyre dykes marking deep crustal faults, which are important elements in an orogenic gold model.

In addition, prospecting has shown numerous historic bedrock workings, visible gold occurrences and gold-bearing rock grab samples throughout the Klondike district, beyond the gold mineralization identified by recent drilling, said the company.

Shares were unchanged at C$0.19 in Toronto and US$0.14 on the OTC Markets.

Contact Giles at [email protected]

Follow him on Twitter @Gile74

Quick facts: Klondike Gold Corp.

Price: 0.24 CAD

Market: TSX-V
Market Cap: $26.56 m

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