Klondike Gold intersects encouraging Yukon gold values

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Klondike Gold Corp. [KG-TSXV; KDKGF-OTC; LBGF-FSE] reported results of phase 1 diamond drilling at the Lone Star Zone on the 100%-owned 586 km2 Klondike District property, Yukon. Phase 1 drilling tested for consistency in grade of gold mineralization and was designed to constrain the geometry and boundaries of gold mineralization. Information obtained from results will be used to prioritize next phases of drilling in August.

The company received assays from the Phase 1 drilling program targeting a 125-metre length by 75-metre width at the western end of the known 3.0-km gold-mineralized length of the Lone Star Zone along the Bonanza Fault.

The Lone Star Zone is gold mineralized from surface over a 60-metre width across the 125-metre length tested in detail, with lateral and vertical grade continuity. This Phase 1 program extended gold mineralization 25-metres further southward, expanding the Lone Star Zone in this direction and opening a significant area with gold potential to test further to the east along the 3.0 km length.

On Section 1, both LS20-339 and LS20-340 intersected gold mineralization from surface; LS20-339 intersected 0.94 g/t gold over 34.0 metres and LS20-340 intersected 5.82 g/t Au over 5.0 metres. Both intersections were unexpected and positive by extending gold mineralization to the south. LS20-337 and LS20-338 intersected typical broad widths of Lone Star Zone with gold mineralization disseminated and as thin sheeted veins which assayed 1.07 g/t gold over 61.1 metres and 0.8 g/t gold over 49.07 metres, respectively, starting from surface.

On Section 2, LS20-342, 25 metres in front of LS20-348, also intersected Lone Star Zone gold mineralization from surface assaying 0.71 g/t gold over 38.0 metres.

On Section 3, LS20-347 and LS20-340 intersected gold mineralization from surface; LS20-339 intersected 0.94 g/t gold over 34.0 metres and LS20-340 intersected 5.82 g/t gold over 5.0 metres. Both intersections were unexpected and positive by extending gold mineralization to the south. LS20-337 and LS20-338 intersected typical broad widths of Lone Star Zone with gold mineralization which assayed 1.07 g/t  gold over 61.1 metres and 0.8 g/t gold over 49.07 metres respectively, starting from surface. Refer to company press release for complete assays.

Results from the Phase 1 program are anticipated to provide data to allow consideration of a resource volume leading to evaluation as a potential ‘starter open pit’.


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