Klondike Gold drills 49.65 metres of 1.08 g/t gold at Lone Star Project, Yukon

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Klondike Gold Corp. [KG-TSXV; KDKGF-OTC; LBGF-FSE] reported results of 2021 Phase 2a diamond drilling at the Lone Star Zone, at the 100%-owned Klondike District Property, Dawson City, Yukon. Twelve holes totalling 1,222 metres were completed in July 2021. Klondike Gold is pleased that near-surface gold mineralization at the Lone Star Zone has been significantly extended east by 250 metres or ~25% greater in length with these results.

Assay highlights from this phase of Lone Star Zone drilling includes 1.70 g/t gold over 14.6 metres from 21.0 to 35.6 metres in drill hole LS21-388; 1.08 g/t gold over 49.65 metres from 40.35 to 90.0 metres in LS21-389; 2.9 g/t gold over 11.0 metres from 15.0 to 26.0 metres in LS21-392; 3.23 g/t gold over 6.0 metres from 58.0 metres in LS21-394; 0.84 g/t gold over 29.0 metres from 4.0 to 33.0 metres in LS21-399; and 1.11 g/t gold over 23.5 metres from 1.5 to 25.0 metres in LS21-410.

Peter Tallman, Klondike Gold’s CEO, stated. “Results continue to show the Lone Star Zone discovery hosts significant near-surface gold mineralization which is expandable and remains open in all directions. Near term milestones include a geology technical report followed by a maiden mineral resource. The company is well positioned to rapidly advance the Lone Star Zone as one among a number of ‘pipeline’ targets within our district-spanning 586 square kilometer claim package that has excellent access to existing highway, power, communications, commercial airport and town infrastructure.”

This year’s drilling at the Lone Star East area (Phase 2a) tested for an eastern extension of the Lone Star Zone with 12 holes totalling 1,222 metres.

These latest significant positive results at the Lone Star East target demonstrate continuity of mineralization at least 250 metres eastward beyond the currently defined Lone Star Zone gold mineralization model shell and also show downslope continuity of mineralization.

Positive results reported from the Lone Star Zone (Phase 2b) tested the downslope and potential down-dip extension. This work extended the downhill slope dip length to 350 metres from 200 metres.

Phase 3 drilling testing the Stander Zone was completed in August. Results are pending.

Phase 4 drilling testing along the Eldorado Fault in Eldorado Creek over a 4-km length nears completion with drilling just finished and with logging and sampling in progress. A total of 13 holes were completed testing various targets exclusively. The holes targeted various graphitic fault zones evident from LIDAR surveying potentially associated with gold mineralization. One of these targets at the Gay Gulch Zone, the second of two original discoveries made in 2015, has previously returned significant gold intersections, including 420 g/t gold over 0.4 metres within 75.6 g/t gold over 2.8 metres in the discovery hole EC15-10. No estimate is yet known for availability and reporting of assay results.




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