Klondike Gold Corp has unveiled encouraging drill results from the Lone Star Zone at its 586 square kilometers (sq km) Klondike District project in Yukon as it works towards a maiden resource at the property.
Drilling at Lone Star is now complete and assays today hail from Phase IIb diamond drilling, which tested the downslope and potential down-dip extension with 13 holes for 2,661 metres (m).
Highlight results included an intersection of 150m starting at a depth of just 7m in one hole, which hit 0.35 grams per ton (g/t) gold. Another drill hole generated 0.84 g/t gold over 29m starting from a depth of 4m to 33m.
READ: Klondike Gold expands drilling at its Klondike district project in the Yukon after sinking 45 holes
"At around 200 meters vertical depth, these latest Phase IIb drill results from the Lone Star Zone intersected the deepest gold mineralization yet," said Peter Tallman, CEO of Klondike Gold, in a statement.
"In addition, the Lone Star Zone gold mineralization has demonstrated continuity along the downhill slope dip length over 350 meters distance. This is a substantial increase from 200 meters previously.
"All dimensions remain open, and we will soon be reporting the results of drill testing to the east. All these results will be incorporated into the forthcoming independent technical report as we work towards a maiden mineral resource."
The firm noted that drill results from the Lone Star ‘East' area (Phase IIa), which tested the potential eastern extension of the zone with 12 holes were still pending and due shortly.
A Phase IIII addition to the 2021 drilling program consisting of 12 to 15 holes totaling up to 1,500m is underway with holes planned to include testing a new target area located by recent prospecting, Klondike added.
SRK Consulting has been contracted to prepare an NI43-101 report summarizing geology and exploration on the property, which is in progress and anticipated to be completed for filing by 4Q, 2021.
Contact the author at giles@proactiveinvestors.com