Klondike Gold eyes resource update at Yukon project
Klondike Gold Corp. [KG-TSXV] has released an exploration update that is expected to set the stage for an updated mineral resource estimate at its 100%-owned Klondike District project near Dawson City, Yukon.
The updated estimate (MRE) is targeted for the first half of 2027, subject to the receipt and interpretation of outstanding analytical results and completion of resource estimation and reporting. The MRE will incorporate relevant drilling completed between 2022 and 2026, including 12,446 metres of diamond drilling in 60 holes completed this year and targeting extensions adjacent to the pit-constrained Lone Star MRE. The updated estimate is expected to reassess the existing resources in the Lone Star and Stander Zones. The company will also evaluate whether additional nearby zones of mineralization can be included in the updated estimate.
The company has outlined a pit constrained resource of 581,000 ounces, including an indicated resource of 403,857 ounces at Lone Star and 65,044 ounces at Stander.
Meanwhile, the company has reported additional gold property receipts from placer mining operations conducted by Armstrong Mining Corp. at the Montana Creek Placer Property, which covers 1,341 hectares and is located 48 kilometres southeast of Dawson City. The company said cumulative 2026 royalty receipts from the Montana Creek property total 513.1 ounces of placer flake gold at approximately 82% purity through end of season October 15, 2026, an increase of 238.6 ounces since the company’s August 26, 2026 update. Following refining and deduction of applicable processing fees, approximately 440 ounces of gold at 99.99% purity have been credited to the company and are held in account.
“Working with Kluane Drilling we have completed the largest single-season drilling program in Klondike Gold’s history in the Klondike District,’’ said Klondike CEO Peter Tallman. “This year’s drilling focused on testing extensions to the known mineralization at Lone Star Zone,” he said. “We are now working to compile and interpret the results and advance a comprehensive update to our existing mineral resource estimate published in 2022, incorporating five years of additional exploration work.’’
Klondike Gold shares were unchanged Tuesday at 16 cents. The shares trade in a 52-week range of 31 cents and $0.06.
The company plans to include gold and assess tellurium within the Lone Star deposit for the mineral estimate update. Tellurium is designated a critical mineral by Canada and other governments and is associated with gold mineralization at Lone Star.
Ever since the original Klondike discoveries triggered a massive gold rush in 1896, prospectors have been baffled by their inability to find the bedrock source of all the placer gold which has been extracted from the streams and tributaries around Dawson City in the Yukon.
Klondike Gold has been working to solve the mystery by assembling a large property position in the Klondike fields south of Dawson City. The company is backed by Vancouver financier Frank Giustra, who holds a 14.6% per cent stake in the company.
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