Klondike Gold Corp (CVE:KG) (FRA:LBDP) (OTCPINK:KDKGF) said it has commenced a 2020 exploration program at its Klondike District Property in the Yukon Territory in Canada.
The group said 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.
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The drilling is aiming to test for consistency in the grade of gold mineralization and provide data to allow consideration of a resource volume at the various targets.
Klondike also said 1,210 soil samples have been collected and submitted for analysis from east of Lone Star Zone and east and west of Stander Zone, adding that 65 prospecting rock samples have been collected as well and submitted for analysis from Stander Zone.
The company also said Dulac Mining has commenced placer mining on ground leased from Klondike on the Upper Eldorado placer property, and that the company retains a 10% production royalty payable in placer gold.
In a statement, Klondike Gold president and chief executive Peter Tallman said: "We are excited after 5 years to transition from district-scale geoscience surveys and exploration documenting gold and structural controls towards detailed testing of spatial and economic parameters of segments within both Lone Star and Stander Zones during 2020. Along with our exploration directed at finding new targets and production from our placer lease holder, there is a lot to look forward to in what is shaping up to be a busy season."
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