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Klondex Mines Ltd.
Summary
| Project: | True North | |
|---|---|---|
| Deposit: | True North | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 5/30/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine Development | |
| Report details: | 30-5-2018: Klondex Mines Ltd. announces a Resource Estimation report for its True North deposit at the True North project. Updated mineral resource estimate at the project. Practical Mining LLC (PM) and P&E Mining Consultants Inc. (P&E) were engaged by Kl | |
| Resources: | (Resource, M+I): 2.007Mt @ 0.216opt Au for 433Koz Au contained | |
| CP/QP: | [Resources]: Mark Odell, Laura Symmes (Practical Mining LLC) | |
| ABSTRACT: | Practical Mining LLC (PM) and P&E Mining Consultants Inc. (P&E) were engaged by Klondex Mines Ltd.(KDX), to prepare a Technical Report (TR) in accordance with National Instrument 43- 101 (NI 43-101) of the Canadian Securities Administrators. PM’s and P&E’s evaluation of the True North Mine (True North Project, True North, or the Project), located in Bissett, Manitoba, Canada, is presented herein. This TR, dated the 8th day of May 2018, with an effective date of March 31, 2018 provides the initial Mineral Resource Estimate for the Project. True North is located in southeast Manitoba, Canada at the edge of Bissett township on the north shore of Rice Lake. It lies approximately 100 miles (162 kilometers) northeast of Winnipeg, roughly 150 driving miles (234 kilometers) via all-weather Provincial highways. The town of Bissett is a long-established mining community with a fluctuating population which is currently approximately 340 people. The mine accesses quartz vein gold mineralization using shafts and underground mining methods. The Project has an on-site processing facility comprising crushing, grinding, gravity concentration and flotation. A Carbon-in-Pulp (CIP) circuit treats the tailings from the gravity circuit. Klondex Canada Limited (KC) acquired the property from San Gold Corporation in early 2016 for total consideration of US$31.1M. Mining and processing operations began later that year. KC also implemented an underground drilling program to expand the mineral resource. Klondex Canada is a wholly owned subsidiary of Klondex Mines Ltd. (KDX). (Klondex 2018) | |
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