Klondike Gold Corp has announced the completion of the first three stages of drilling at the company’s wholly-owned Klondike district project in Canada’s Yukon Territory, which consisted of 45 holes totaling 6,532 meters (m).
Klondike Gold also said it has added a 1,500m Phase 4 drill program scheduled to begin in early September, which will include new high-priority targets generated by prospecting.
“Recent prospecting efforts have targeted LIDAR features interpreted as faults identified from a 2019 high-resolution survey of the Company's entire Klondike District Project,” Klondike Gold CEO Peter Tallman said in a statement.
READ: Klondike Gold identifies visible gold with second hole at Lone Star Zone drilling
“This work has located blocks of sub-cropping quartz veining with coarse pyrite and (rarely) visible gold associated along a 2 kilometre LIDAR feature which is a compelling new exploration target for Phase 4 drill testing,” Tallman added.
LIDAR, or Light Detection and Ranging, is a light in the form of a pulsed laser that generates precise, three-dimensional information about the shape of the Earth and its surface characteristics.
Klondike Gold noted that its 2021 exploration program was designed primarily around three phases of drilling with Phase 1 reconnaissance targeting the Virgin and Lindow areas, while Phase 2 and 3 targeted areas of the Lone Star Zone and Stander Zone, respectively, for extensions to mineralization to be included in a planned maiden mineral resource study.
The company said that final results for the earliest drilled holes are expected to become available within the next 10 days.
SRK Consulting has been contracted to prepare a NI 43-101 Technical Report, which is expected to be filed by 4Q 2021 and is contingent on the timing of the drill core assays to be included, it added.
Klondike Gold's district property, located on the outskirts of Dawson City, Yukon, covers 557 square kilometers and houses 2,942 claims, from where 20 million ounces of gold have been recovered from gravel beds since 1896, yet no underground mine has ever been built. Only around 10% of the property has been explored in any detail.
Contact Sean at sean@proactiveinvestors.com