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Klondike Gold Corp.
Summary
| Project: | Lone Star | |
|---|---|---|
| Deposit: | Lone Star | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 7/18/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 18-7-2018: Klondike Gold Corp. announces an Exploration/Drilling Update report for its Lone Star deposit at the Lone Star project. Drilling results incl. 65.05m @ 1.40g/t Au from 2.5m. Vancouver, British Columbia, Canada, July 18, 2018, Klondike Gold Corp | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Ian Perry (Internal) | |
| ABSTRACT: | Vancouver, British Columbia, Canada, July 18, 2018, Klondike Gold Corp. (TSX.V: KG; FRA: LBDP; OTC: KDKGF) (“Klondike Gold” or the “Company”) is pleased to report assays from seven drill holes at the Lone Star Zone, part of a systematic evaluation designed to map the geometry of mineralization across a portion of the Zone, at the Company’swholly owned Klondike District Property, Yukon Territory. Results of the first seven holes, LS18-151 to LS18-157, testing the Lone Star Zone in 2018, are reported here. A minimum total of $2.5M has been budgeted for 2018 exploration (March 9, 2018 news release). The Company in 2018 has exploration plans underway to drill test the Lone Star Zone, the Nugget Fault Zone, and the Gold Run target plus complete comprehensive district-wide mapping, geophysics, and soil surveys for the first time. The Company is fully funded through 2019 at a similar level of expenditure. The Company in 2014 interpreted a series of previously unrecognized district-scale faults (Bonanza, Nugget, Eldorado, and Irish Faults, and the Rabbit Creek Thrust) from magnetic surveys. During 2015 and 2016 the Company focussed exploration on gold-bearing quartz veins as had previous explorers over the past 120 years. Target areas of higher grades over narrower intervals identified during these programs are evident at Gay Gulch (76.0 g/t Au over 2.8 meters) and Nugget Zone (5.1g/t Au over 14.3 meters) and remain targets of future exploration. Currently the Company is preferentially targeting and outlining broad zones of lower grade mineralization at or near surface that characteristically contain visible, relatively coarse free gold. | |
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