Klondike Gold discovers Southwest and Northwest Exploration step-outs at Klondike District property, Yukon
Klondike Gold Corp. [TSXV: KG; FRA: LBDP; OTCQB: KDKGF] reported seven drill hole results which tested for southwest and northwest extensions of gold mineralization at the Stander Zone. The seven holes were planned as part of a discovery drill program adjacent to the company’s November 10, 2022 Stander Zone Mineral Resource Estimate (MRE) within the 100%-owned 727 km 2 Klondike District Property in the Dawson mining district, Yukon, Canada.
Highlights Summary: New high-grade gold-bearing quartz vein zones discovered adjacent the Stander Zone to the southwest and northwest demonstrate significant exploration potential in these directions to further expand the Stander Zone MRE area.
EC24-526 intersected stacked gold zones including 1.54 g/t gold over 27.0 metres, 0.66 g/t Au over 5.50m, and 1.38 g/t Au over 7.0m within 130 metres of surface, 100 metres southwest of the Stander Zone MRE area.
EC24-552 encounters 0.79 g/t Au over 6.0m within 20 meters of surface, 200 metres southwest of the Stander Zone MRE area.
EC24-527, a 400-metre exploration step-out to the northwest, intersects 0.38 g/t Au over 11.50m within 50m from surface.
This successful exploration phase intersects near surface gold mineralization prospectively expanding the Stander Zone length 400 metres northwest and width 200 metres southwest. Additional drill results are pending.
Peter Tallman, President and CEO stated, “This year’s drilling at Stander Zone including today’s results have potentially doubled the gold-mineralized strike length and increased the width by 50%. We expect these results will expand our existing resources as well add two new adjacent discoveries for near term growth. All this is results from our team’s successful structural mapping of gold controlling orogenic faults thereby rewriting the geology of the Klondike. Today’s results continue to indicate the significant potential economic value to our shareholders of the company’s 727 km 2 Klondike District Property.”
In 2024 the company conducted a resource expansion and discovery drill program targeting Stander Zone gold mineralization as outlined in the November 10, 2022 Mineral Resource Estimate (MRE). A total of 26 holes for 4,160.52 metres were completed in this overall program divided into phases targeting specific Stander Zone adjacent subareas.
Seven core holes reported here (EC24-526 to EC24-528 and EC24-550 to EC24-553) tested for across strike continuation of width of Stander Zone mineralization to the southwest (5 holes) and for along strike continuation of mineralization to the northwest (2 holes) well outside the 2022 Stander Zone MRE extents. Holes in both these areas successfully intersected significant intervals of gold mineralization to extend the prospective area strike length and width of the Stander Zone.
Overall, new understanding of the Stander Zone with deeper and adjacent drilling in 2024 has demonstrated multiple stacked gold-bearing ‘quartz vein zones’ exhibiting along-strike and dip continuity. New drilling reported in this news release has intersected gold mineralization 300 metres to the southwest beyond the extent of the Mineral Resource area. This follows the previous news releases reporting significant extensions of mineralization adjacent and beneath the Mineral Resource with similar gold grades.
The intersection lengths reported here should not be considered estimated true widths (ETW) without additional drilling. These 2024 results are not included in the Company’s November 10, 2022 Stander Zone mineral resource estimate (MRE) which was based upon 40 initial holes completed from 2015 through 2021 using a gold price of US$1,700/oz and a 0.2 g/t gold cut-off.
The Stander Zone mineralization is associated with a 5-km corridor of mineralization adjacent the major Eldorado Fault now recognized by the company to be a master control of orogenic gold mineralization within the Klondike District.
The overall objectives of 2024 Klondike District Property drill testing at Stander Zone include: Diamond drilling to test for expansion of the Stander Zone mineral resource area, and specifically to follow up high grade (>1 opt Au) gold drill intersections from late 2023. All 2024 Stander Zone drilling results have now been released.
Diamond drilling to test for expansion of extents of Gay Gulch Showing gold mineralization; with 6 drill holes still pending.
Prospecting and drill testing for repeated stacked gold-bearing quartz vein zones predicted by orogenic gold deposit models, targeting potential for deeper gold mineralization.
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 Mineral Resource Estimate of 469,000 Indicated and 112,000 Inferred gold ounces, a milestone first for the Klondike District.
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.