Klondike Gold makes new high-grade gold discovery, Yukon
Klondike Gold Corp. [TSXV-KG; OTCQB-KDKGF; FSE-LBDP] reported prospecting and diamond drill results from the Stander Zone on the 100%-owned Klondike District Property in the Dawson mining district, near Dawson City, Yukon, Canada.
HIGHLIGHTS: High-grade gold has been discovered at the Stander Zone extending the mineralization to the east along each of two quartz-filled ‘shear vein’ sub-parallel structures.
DDH EC23-508 intersected 90.55 g/t gold (2.91 troy oz/t Au) over 0.55 metres shear vein from 21.05 metres within 1.65 g/t Au over 36.65 metres including gold-bearing sheeted extensional veins.
DDH EC23-510 intersected 38.15 g/t gold (1.23 oz/t Au) over 0.50 metres shear vein from 92.70 metres within 5.49 g/t Au over 6.50 meters including gold-bearing sheeted extensional veins.
DDH EC23-511 intersected 39.59 g/t gold (1.27 oz/t Au) over 0.52 metres shear vein from 49.78 meters within 1.12 g/t Au over 20.90 metres including gold-bearing sheeted extensional veins.
DDH EC23-514 intersected 30.30 g/t gold (0.97 oz/t Au) over 0.50 metres from 98.65 meters within wider 8.68 g/t Au over a 2.10-metre shear veining interval.
DDH EC23-514 returned 8.68 g/t Au over 2.10 metres interpreted to have intersected the same shear as EC23-510 located 160 metres along strike at the same relative elevation.
Visible gold (VG) was identified in fault controlled quartz vein zones in four of seven drill holes corresponding with >30 g/t Au assay intersections in each: EC23-508 contained 2 VG between 21.3m to 21.4m, (90.55 g/t Au over 0.55m). EC23-510 contained 4 VG between 89.7m to 95.0m, (38.15 g/t Au over 0.50m). EC23-511 contained 2 VG at 49.9m, also at 62.7m, (39.59 g/t Au over 0.52m). EC23-514 contained 1 VG at 100.2m, (30.30 g/t Au over 0.50m)
Gold intersections on each of these structures remain open. These are priority targets for 2024 follow up.
Peter Tallman, President & CEO stated: “The discovery of gold associated with historically unrecognized shear veins, distinguishable from sheeted extension veins, validates our view of the potential for the Klondike to host multiple and substantial gold deposits. As we’ve discussed in previous news releases, new insights from ongoing comprehensive academic research and collaborative work with orogenic gold experts’ continues to be transformative for our exploration and development efforts within the Klondike district.
“Recent news releases all include headline gold grades of >30 g/t Au in both outcrops and drill core and in each of several target areas. Importantly, the exploration model is distinguishing the highest-quality targets to pursue within the 727 km2 Klondike District Project. Moving forward our team has identified many new targets to test in 2024 in conjunction with developing/expanding resources within our existing, open-ended deposits including targets adjacent the discoveries described in this news release.”
Prospecting, mapping, and diamond drilling was conducted in fall 2023 adjacent the Stander Zone gold mineral resource1 located 20 km by road from Dawson City, Yukon.
Prospecting at the Stander Zone identified subcrop quartz veining containing visual gold within the upper end of a 110 meter long historic 1990 trench. Six prospecting samples of subcrop quartz veining were excavated. Three of six samples contained visual gold. Four samples assayed between 7.0 g/t Au and 11.6 g/t Au (including two with visual gold). Two samples assayed between 44.1 g/t au and 74.6 g/t Au (including one with visual gold). All contained appreciable silver and tellurium. These samples are interpreted to represent the surface expression of gold-bearing quartz veining intersected down dip in drill holes EC23-510, EC23-511, EC23-512, and EC23-514.
Diamond drilling with seven NTW-size core holes, EC23-508 to EC23-514, tested along strike beyond the east end of the Stander Mineral Resource Estimate (MRE) area exploring for extensions of fault-controlled gold mineralization. Drill holes were short (58m to 107m length) totalling 689.5 metres completed.
Visible gold (VG) was identified in quartz vein zones in four of seven drill holes corresponding with >30 g/t Au assay intersections in each: EC23-508 contained 2 VG between 21.3m to 21.4m, (90.55 g/t Au over 0.55m). EC23-510 contained 4 VG between 89.7m to 95.0m, (38.15 g/t Au over 0.50m). EC23-511 contained 2 VG at 49.9m, also at 62.7m, (39.59 g/t Au over 0.52m). EC23-514 contained 1 VG at 100.2m, (30.30 g/t Au over 0.50m).
Until now, historic and previous drilling has intersected interpreted ‘sheeted extensional veins’ containing gold developed over long intervals, without identifying the controlling fault structure.
Seven drill holes tested two fault splays controlling mineralization with objective of extending the Stander Zone mineralization eastward. EC23-508 and EC23-509 tested the ‘southern’ fault; EC23-510 to EC23-514 tested the ‘northern’ fault.
On the southern fault, EC23-508 intersected 90.55 g/t gold (2.91 troy oz/t Au) over 0.55 metres shear vein from 21.05 meters within 1.65 g/t Au over 36.65 metres including gold-bearing sheeted extensional veins. EC23-509 was stopped short at 57m depth intersecting sheeted extensional veins.
On the northern fault, EC23-510, EC23-511, and EC23-514 all intersected high grade gold-bearing quartz shear veining associated with adjacent sheeted extensional veins.
EC23-510 intersected 38.15 g/t gold (1.23 oz/t Au) over 0.50 metres shear vein from 92.70 meters within 5.49 g/t Au over 6.50 metres, including gold-bearing sheeted extensional veins. EC23-511 intersected 39.59 g/t gold (1.27 oz/t Au) over 0.52 metres shear vein from 49.78 metres within 1.12 g/t Au over 20.90 metres, including gold-bearing sheeted extensional veins. EC23-514 intersected 30.30 g/t gold (0.97 oz/t Au) over 0.50 metres from 98.65 metres within wider 8.68 g/t Au over a 2.10-metre shear veining interval. EC23-512 is interpreted to have intersected sheeted extensional veining. EC23-513 ended at 93m and is interpreted to not have reached the shear vein target depth.
Gold mineralization in EC23-510, EC23-511, and EC23-514 interpreted to lie on a sub-parallel ‘northern’ fault splay correlate with each other over 150 meters strike length, 70 metres vertically, and remains open along strike and dip.
Shear veins widths are interpreted to be approximately true width and surrounding sheeted extensional vein intervals are interpreted to be 50-70% of true width.
The company has identified a Mineral Resource Estimate of 469,000 Indicated and 112,000 Inferred gold ounces. 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.