Klondike Gold updates Phase 2 exploration program, Klondike District Project, Yukon
Klondike Gold Corp. [TSXV: KG; FRA: LBDP; OTCQB: KDKGF] provided an update on the company’s Phase 2 exploration activities following the successful completion of the 13-hole Phase 1 drill program on the 100%-owned a Klondike District Property, Yukon Territory, spanning 729 km2 bedrock gold of advanced exploration.
Peter Tallman, President and CEO of Klondike stated: “Phase 2 mapping results are identifying new targets leading into an exciting Phase 3 drilling program set to begin shortly. Through the extensive re-evaluation of the Klondike regional geology, we have incorporated much of previous drilling, sampling and mapping into 3D visualization software (Leapfrog), which has significantly advanced our understanding of the gold mineralizing structures in the Klondike region enhancing our ability and confidence to target gold bearing structures to much greater depths. This modelling is informing the upcoming Phase 3 drill testing of lateral and deep extensions to high grade gold vein zones.”
Phase 1 drilling tested the orientation of major structures that control gold deposition at four separate gold showings along a 3.8km section of the Eldorado Fault Corridor. This work yielded important structural and alteration information regarding favourable environments for gold-bearing veins within the Eldorado Target. Assays from 13 holes drilled in Phase 1 are pending.
The Phase 1 drill program informs Phase 2 work helping to complete detailed 3D structural and lithologic maps for each of the company’s four main gold zones (Lone Star, Nugget, Stander, Gay Gulch) and integrating them into an encompassing interpretation of gold mineralization for the Klondike District.
The Phase 2 program comprised of mapping and re-evaluation synthesizing 10+ years of the company’s modern exploration data, incorporating specific insights gained in the recent Phase 1 drilling program. Phase 2 work is a field and desktop compilation effort which systematizes the geology and structural controlling gold mineralization regionally throughout the Klondike District.
Phase 2 results include differentiating and mapping regional thrusts, faults, and fracture faults including those controlling gold mineralization, identification of major regional folds, and a recharacterization of main Klondike lithologies. This work significantly updates the benchmark 1980s vintage government geological survey mapping and derived observations.
Phase 2 mapping work includes drill core relogging and mapping later faults in three dimensions (using Leapfrog 3D visualization software). This involves re-examination of over 60,000 metres of past drill core collected from the Property since 1980 and maintained as part of the Company’s core library.
Analysis of over 10,000 oriented drill core structural measurements to map the 3D distribution of major rock units, with particular focus on prospective lithology contacts associated with gold mineralization, and documenting different fault types.
A lithology remapping program using the company’s airborne radiometric and total field magnetic data was considered in combination with new mapping of graphitic thrusts and other faults.
Systematic short wavelength infrared (SWIR) imaging of mineral characteristics in gold-rich vein areas. This imaging helps identify gold-associated alteration and is extremely useful in qualifying gold-rich versus gold-poor vein zones using methodologies developed from recent academic research.
A Phase 3 program with drill specific targets recommended from Phase 2 work is planned to commence in early September.
Klondike Gold is advancing its Klondike District Gold Project located at Dawson City, Yukon. 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.
Gold mineralization and indicated/inferred mineral resources have been identified at both the Lone Star Zone and Stander Zone, among other targets. The company retains a 10% production royalty on the active Montana Creek placer property with payments capped at $9.5M total over six years. The company is focused on exploration and development of its property accessible by scheduled airline and government-maintained roads located on the outskirts of Dawson City, Yukon, within the Tr’ond├½k Hw├½ch’in First Nation traditional territory.
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