Klondike Gold Corp has welcomed a first NI 43-101 resource estimate for the Lone Star and Stander deposits at its huge Klondike District project in the Yukon, which shows 469,000 ounces of indicated gold at an average grade of 0.676 grams per ton (g/t)
The total inferred resource at the two near surface deposits comes in at 112,000 ounces of gold at 0.539 g/t.
Both the Lone Star and Stander open pit deposits remain open, noted Klondike, with mineralization known to extend beyond the current resource model boundaries.
"The company is excited to generate the first-ever Mineral Resource documenting bedrock gold resources in the 125-year history of alluvial gold mining in the famous Klondike goldfields," said Peter Tallman, the firm's CEO in a statement.
"This milestone is many decades overdue from a historical perspective. We are also pleased with the value this Initial Mineral Resource Estimate generates for our shareholders.
READ: Klondike Gold strikes gold during 2022 exploration at Dawson Mining District site in Yukon
"We have observed previously that our exploration has not yet found the 'best' mineralization and we are confident there are many additional discoveries still to be made in this prolific district."
The new resource estimate is based on drilling results from 2014 through the 2021 field seasons and for the Lone Star, the database comprises 241 diamond drill holes. There are 29,623 assays for gold in g/t for a total of 26,988 metres (m) of drilling.
For the Stander deposit, the database consisted of 174 diamond drill holes. There are 16,758 assays for gold in g/t for a total of 15,178m of drilling
Klondike Gold Corp is a Vancouver-based explorer advancing its wholly owned 586 square kilometer (sq km) property in Dawson City, Yukon - one of the top mining jurisdictions in the world.
The asset is targeting gold associated with district-scale orogenic faults along the 55km length of the famous Klondike Goldfields placer district. Multi-kilometer gold mineralization has been identified at both the Lone Star Zone and Stander Zone, among other targets
Contact the writer at giles@proactiveinvestors.com