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Klondex Mines Ltd.
Summary
| Project: | Fire Creek | |
|---|---|---|
| Deposit: | Fire Creek | |
| Location: | United States | |
| Commodities: | Gold-Silver | |
| Date: | 11/10/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 10-11-2016: Klondex Mines Ltd. announces an Exploration/Drilling Update report for its Fire Creek deposit at the Fire Creek project. Drilling results incl. 1.6m @ 415.33g/t Au, 264.81g/t Ag from 110.7m. Vancouver, BC – November 10, 2016– Klondex Mines Ltd | |
| Resources: | (Reserve, P+P): 240Kt @ 41.59g/t Au, 32.2g/t Ag at Fire Creek | |
| CP/QP: | [Overall Report]: Brian Morris (Not Stated) | |
| ABSTRACT: | Vancouver, BC – November 10, 2016– Klondex Mines Ltd. (KDX:TSX; KLDX:NYSE MKT) (“Klondex”or the “Company”) is pleased to provide an update on surface and underground drilling at its Fire Creek Mine, located in northern Nevada, USA. The following drill results are in addition to those included within the mineral reserve and mineral resource estimates released on September 12, 2016. Fire Creek Mine Surface Drilling Summary (Table 1): 14 surface holes totaling 19,801 ft (6,033 m) were drilled during the reporting period. These holes targeted vein extensions in the Northwest, North, Eastern and South Expansion areas, along strike and up and down dip. (Figure 1) West Zone New Discovery Hole FCC-0020 targeted a 6,500 ft (1,980 m) geophysical anomaly approximately 3,960 ft (1,207 m) west of the current mine workings. This intercept is approximately 400 ft (1,207 m) below surface and suggests a new mineralized structure that is open in all directions. The Fire Creek District contains a number of similar geophysical anomalies that have not yet been tested, further suggesting additional growth potential of the Fire Creek land position. A follow-up drill program is in progress. Fire Creek Mine Underground Drilling Summary (Table 2): 65 underground holes totaling 41,172 ft (12,549 m) were drilled during the reporting period. These holes tested vein extensions along strike and vertically which continues to suggest the continuity of this high grade vein system. (Figure 2) This drilling extended Vein 16 875 ft (266.7 m) to the south along strike and 175 ft (53.3 m) vertically and extended Vein 9 to the north along strike by 100 ft (30.5 m). Until this year, this area had limited surface drilling with sparse results. Tighter sampling and underground drilling suggests that there could be a robust vein network within a short distance northeast of the main workings. West-ward directed drilling has continued to define and infill the resource model along the Karen and Honeyrunner veins. (Figure 3). | |
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