Klondike Gold Corp has unveiled more 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.
Today's results come from this year's Phase 2a diamond drilling at the Lone Star Zone, in which 12 holes for 1,222 metres (m) were sunk in July.
The work has shown that mineralization continues at least 250 meters eastward beyond the currently defined Lone Star Zone gold mineralization model shell and also continues downslope.
"Results continue to show the Lone Star Zone discovery hosts significant near-surface gold mineralization which is expandable and remains open in all directions," said Peter Tallman, Klondike Gold's CEO.
"Near term milestones include a geology technical report followed by a maiden mineral resource.
"The company is well positioned to rapidly advance the Lone Star Zone as one among a number of 'pipeline' targets within our district-spanning 586 square kilometer claim package that has excellent access to existing highway, power, communications, commercial airport and town infrastructure."
Today's highlight results included 1.08 grams per ton (g/t) gold over a length of 49.65m starting from a depth of 40.35m in one hole and 3.23 g/t of the precious metal over 6m from a depth of 58m in another.
Updating on other exploration and drilling at the property, Klondike said Phase 3 drilling to test the Stander Zone was completed in August this year, while Phase 4 drilling along the Eldorado Fault in Eldorado Creek over a 4km length was nearing completion.
Elsewhere, 13 holes were completed testing various targets exclusively, including at the Gay Gulch Zone - the second of two discoveries made in 2015 - which has previously returned significant intersections including 420 g/t gold over 0.4m within an intercept showing 75.6 g/t gold over 2.8m in the discovery hole.
GeoCloud Analytics of Melbourne, Australia has been contracted to complete a detailed re-interpretation of the 2019 LIDAR survey data and that work is in progress, while SRK Consulting of Toronto have been contracted to prepare a NI-43-101 technical report summarizing geology and exploration on the company's Klondike district project. This is expected to be completed for filing by Q4, 2021.
Contact the author at giles@proactiveinvestors.com