Klondike Gold Corp (CVE:KG) (OTCMKTS:KDKGF) reported that it has completed its Phase 4 drill program targeting the Lone Star Zone, which is part of the company’s wholly-owned 586 square kilometer Klondike District Property in Canada’s Yukon Territory.
The company said the objective of the drill program was to test for mineralization that would aid in its efforts to establish a maiden mineral resource.
Klondike Gold CEO Peter Tallman said in a statement: “I commend Klondike Gold's exploration team including our contractors, suppliers, community businesses and local staff for their work effort and diligence this year. I am proud of the way this group cooperatively handled new pandemic protocols to protect our community and completed the full season work program safely and without incident.”
READ: Klondike Gold drilling this year in bid to establish maiden resource in the iconic Yukon goldfields
He added: “From this work, our understanding of the geology and controls on bedrock sources of gold mineralization has improved tremendously again this year as evidenced in our development of 3-D models of structure, alteration, magnetism and other rock properties with respect to gold. I look forward to receiving and integrating 2020 drill assays with our models, and reporting on our plans for the fully funded 2021 exploration program.”
The company noted that Phase 4 drilling, which began on September 4, 2020, was comprised of 30 drill holes totaling 2,893 meters (m) targeting the Lone Star Zone across a 3,265 m length.
It added that both of its primary and secondary labs are currently working through the submitted samples, with trace element analyses expected to be received through December 2020 and multi-stage metallic screen gold assays expected through January 2021.
Klondike Gold also reported that assay results from a total of 40 prospecting rock grab samples have been received, all of which contained gold above the limit of detection from 0.01 ppm gold to 43.8 ppm gold. The company said the results indicate the presence of gold mineralization immediately adjacent and outside of the Lone Star’s ‘mineralized zone’.
Klondike Gold added that the gold samples greater than 5 grams per tonne that are clustered to the north and east of the Lone Star mineralized zone are planned as priority drill targets for its 2021 campaign.
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