Klondike Gold drills 1.27 g/t gold over 15.15 metres at Klondike District project, Yukon

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Klondike Gold Corp. [KG-TSXV; KDKGF-OTCQB; LBDP-FSE] reported field results from continuing 2023 work as well as gold assay results from 24 diamond drill holes from the 2022 exploration program at the Stander deposit located on the company’s Klondike District property in the Dawson mining district, Yukon, Canada.

Peter Tallman, President and CEO, stated, “The company’s team has made three recent discoveries of gold in outcrop following implementation of several new science-based upgrades to our exploration models. It is very exciting and energizing to screen drill targets with prospecting and mapping and find visible gold in outcrop in each of them, distributed over the 50 km strike length of the Property. We are all looking forward to getting the drill program underway.

Highlights of 2023 field work: Discovery of abundant visible gold (>20 individual grains) in outcropping 10-cm quartz vein within carbonate alteration halo within the Gold Run target area.

Discovery of numerous potentially gold-mineralized outcropping quartz veins with coarse pyrite, locally with galena, (silver?) telluride, and native sulphur within the Dominion target area.

Discovery of visible gold (5 grains) in subcrop 50-cm quartz vein 150 meters beyond the drilled mineral resource estimate area at Stander Zone Deposit.

Discovery of ‘bonanza gold’ vein portion within a new exposure where gold occurs as 1-3mm wide plates, dendritic crystals into voids, and small 2mm ‘nuggets’ within fracture seams in outcropping Gay Gulch quartz vein, near where previous reported sample assayed 4,064 g/t gold (143 oz/t Au).

Detection for the first time of sub-visible alteration halos adjacent gold bearing veins using ‘Short Wave Infrared’ (SWIR) (at Lone Star and Stander Zones) with applicability for positive exploration throughout the Klondike District Property.

Detection of laterally extensive carbonate-pyrite alteration halos linked directly to gold bearing veins within mafic rocks (at Gold Run target) also with applicability throughout the Klondike District Property.

Mapping of low-angle (~30 degree) flexures along major faults through the Klondike District Property coincident with gold mineralized target areas (Stander, Lone Star, Dominion, and Gold Run), and other untested target areas with extensive Au-soil and/or Au-rock anomalies.

Drilling is anticipated to begin August 1, 2023 testing the Gold Run target initially.

In 2022 the company completed twenty-four (24) diamond drill holes (EC22-447 to EC22-464; EC22-480 to EC22-485) at the Stander Zone. The Initial Mineral Resource Estimate (MRE) at the Stander Deposits does not include holes reported here.

Assay highlight results from 24)Stander Zone drill holes: 24.85 metres of 0.42 g/t gold from 17.8 metres in EC22-453; 6.00 m of 2.20 g/t Au from 7.0 m in EC22-455; 20.0 m of 1.02 g/t Au from 48.0 m in EC22-459; 49.06 m of 1.21 g/t Au from 7.97 m in EC22-481; 15.15 m of 1.27 g/t Au from 7.60 m in EC22-482.

Visible gold noted in EC22-448 (1 grain), EC22-459 (1 grain), EC22-460 (1 grain), EC22-481 (3 grains), and EC22-482 (2 grains).

In 2023 the company interpreted a fault system that transects both Stander Deposit Pit Constrained MRE areas. Fault splay intersections coincide with structural flexures and these areas are spatially associated with higher gold grades within the MRE. Field work results in 2023 on the basis of this interpretation so far have yielded positive initial results in several areas of the Property.

The Stander Zone gold deposits are contained within schists and felsic rocks considered to be an island arc related assemblage of the Klondike Schist. Orogenic gold mineralization is associated with low angle sheeted gold bearing quartz veins.

Drill holes EC22-447 to EC22-464 are drilled in the usual 220 azimuth orthogonal to the (primary) orientation of sheeted gold-bearing veins within the Stander Deposit southeast model Pit Shell.

Drill holes EC22-480 to EC22-485 are drilled at 290 azimuth orthogonal to a potential secondary orientation of sheeted gold-bearing veins and fractures within the Stander Deposit northwest model Pit Shell.

Klondike Gold is advancing its 100%-owned Klondike District Gold Project. 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’ondek Hwech’in First Nation traditional territory.

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