Klondike Gold completes Phase 1 Exploration at Klondike District Project, Yukon
Klondike Gold Corp. [TSX.V: KG; FRA: LBDP; OTCQB: KDKGF] reported the completion of Phase 1 drilling of the multiphase 2025 Exploration program. A total of 13 diamond drill holes were completed on the company’s 100% owned Klondike District Property in the Dawson mining district, Yukon Territory, Canada.
Summary: Completion of 2,354.70m across 13 diamond drill holes throughout Phase 1: assay results from 13 holes are currently pending; planning of holes up to 750 meter in length for the upcoming drill phase; prospecting, mapping, and relogging are ongoing to refine 3-D geological, structural, and mineralization models within the Eldorado Target and Montana Creek placer mining advancing steadily.
Peter Tallman, President and CEO of Klondike Gold, stated: “Years of exploration are now coming together as we step out from known high grade gold structures in the most expeditious way possible targeting lateral and vertical extensions to identified resource areas along the Eldorado Target. We’re intently focused on demonstrating the outsized potential of bedrock sourced gold deposits within the historic Klondike Gold District and are making steady progress. We are also pleased to see our colleagues at Armstrong Mining making solid progress at our Montana Creek placer mine. Stripping, mining and drilling ahead to expand the existing large placer ‘pay streak’ are all proceeding well which raises expectations for a great season of gold recovery.”
Klondike Gold’s Phase 1 program targeted lateral and vertical extensions of high-grade gold vein zones and aimed at testing the orientation of major structures that control gold deposition along portions of the Eldorado Target. Understanding these major controls will guide the next phase of drilling which is planned to include deep holes up to 750 metres of length.
Phase 1 Drilling began April 28 and was executed by Kluane Drilling, based out of Whitehorse YT. A total of 2,354.70 metres of drilling was completed across 13 holes which varied from 50-350-metre lengths. Samples were collected along prospective intersections throughout the 13 drill holes have been shipped to MSA Labs in Prince George, BC and results are pending.
As referenced by the April 24, 2025 Klondike Gold news release, the Eldorado Target focusses current exploration on a 5km strike and 1,400 metre width area which covers a major crustal structure mapped by Klondike Gold. Prior to the 2025 Exploration season, drilling successfully and prudently focused on exploring orogenic gold deposition to shallow depths of ~75 metres below surface. With this data now in place to guide deeper exploration, prospective efforts target lateral and depth extensions of previously defined mineralized zones with planned drillholes ranging from 100 meters up to 750 meters in length.
To better target mineralization to greater depths, priority work includes mapping, prospecting, and detailed relogging to refine constructed 3-D lithology, structural, and mineralization models.
Work is well underway on the Montana Creek Placer Property Lease under the agreed ‘Mining Lease and Option to Purchase Agreement with Armstrong Mining Corp. A substantial overburden drill program testing the Montana Creek surface gravel alluvial gold to expand the placer “pay streak” will complete shortly. Overburden stripping is ongoing and ‘pay gravel’ is being stockpiled in advance of work underway commissioning the sluice (gold recovery) plant.
Klondike Gold is advancing its 100%-owned Klondike District Gold Project located at Dawson City, Yukon. The Klondike District Gold Project targets gold associated with district scale orogenic faults along the 55-km 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.
The company has identified a pit constrained Mineral Resource Estimate of 469,000 Indicated and 112,000 Inferred gold ounces[i], a milestone first for the Klondike District. The company retains a 10% production royalty on the active Montana Creek placer property with payments capped at $9.5M total over six years. The company is focused on exploration and development of its 727 km2 property accessible by scheduled airline and government-maintained roads located on the outskirts of Dawson City, Yukon, within the Tr’ondëk Hwëch’in First Nation traditional territory.