Klondike Gold Corp has posted results from its Phase 4 diamond drilling last year at the Klondike District project in Yukon, which included hitting 1,464 grams per ton (g/t) silver over 3.52 meters (m) from a depth of 77.25m in one hole.
This phase of drilling tested over a lateral 4 kilometres (km) and targeted graphitic thrust faults along Eldorado Creek, with 13 holes, for 886m, completed in October last year.
Peter Tallman, Klondike Gold's CEO described the hole, which showed the 1,464 g/t silver intersection as "exciting".
"To the best of our knowledge, this is the first like it in the Klondike District and is associated with the major Eldorado Creek thrust fault adjacent to the Gay Gulch gold showing. We look forward to follow-up drill testing in this area of Eldorado Creek in 2022," he told investors in a statement.
Klondike noted that the Phase 4 drill program was successful in extending gold mineralization at the Gay Gulch showing, with one hole hitting gold-bearing quartz veins hosted within and adjacent a graphitic thrust fault with the best individual assay of 30.97 g/t gold over 0.50m from 40m depth in one hole
READ: Klondike Gold hits encouraging results with Phase 3 drilling at Stander Zone in the Yukon
Another hole hit gold-bearing quartz veins across a broader interval, interpreted to be a ‘mineralization halo' that assayed 0.29 g/t of the yellow metal over 30m from 33m downhole.
The Phase 4 drill program also intersected high grade silver-tungsten mineralization hosted within graphitic fault breccia located adjacent to the Gay Gulch showing, said Klondike.
The company noted that its upcoming corporate milestones included the near-term completion and release of a geology technical report followed this year by completion of a resource at the Lone Star Zone at the property. Field work with 8,000m of diamond drilling is planned to start in May, 2022.
Klondike also said it was set to take part in the following upcoming events:
- Red Cloud Financial Services hosted Webinar - April 2, 2022
- Metals Investor Forum, Toronto - June 11 to June 12, 2022
- PDAC Convention, Toronto - June 13 to June 15, 2022
Klondike Gold Corp is a Vancouver-based explorer advancing its 100%-owned Klondike District gold project in Dawson City, Yukon - one of the top mining jurisdictions in the world.
Contact the writer at giles@proactiveinvestors.com