Klondike Gold Corp (CVE:KG) (OTCMKTS:KDKGF) told investors Thursday that drilling on its Klondike District property in Yukon Territory had hit broad zones of gold mineralization.
The Vancouver-based firm reported results including 2.1 grams per ton (g/t) gold over nearly 29 metres and 31.2 g/t gold over 0.5 meters at the Stander Zone Central on the project.
Results support Klondike’s understanding that structures on the property are conduits for gold-bearing fluids. Two structures are potentially gold mineralized exploration targets, according to the exploration company.
READ: Klondike Gold's updated exploration model for Yukon project will inform next year's plans
On Thursday, the firm reported assay results from 19 drill holes that came from a 200-by 100-metre area on the Stander Zone, including one hole that returned over 1,000 g/t gold over 1 metre.
A recent survey on the zone survey detected interpreted extensions of gold mineralization as well as identifying a potentially new parallel zone, which will be priority drill targets in 2020, Klondike told investors.
Klondike is bringing modern exploration methods to the famous goldfields in the Yukon, the site of the historic 19th-century gold rush.
In May 2019, the company kicked off a US$2 million exploration program to focus on higher-grade targets rather than the low-grade widespread material it had been exploring previously.
Remaining unreleased 2019 drill results plus results from other sampling are survey work are still pending.
Shares of Klondike added 3.3% on Thursday morning to trade at C$0.31 in Toronto.
Contact Angela at angela@proactiveinvestors.com
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