Mr. Paul Huet reports
KLONDEX PROVIDES EXPLORATION UPDATE AT HOLLISTER
Klondex Mines Ltd. has provided an update on recent and historical exploration results at its Hollister mine in Nevada.
Gloria West drilling highlights
(see
accompanying table)
-
GLOR15-034: 4.18 ounces per ton gold equivalent (AuEq) over 8.4 feet, or 143.3 grams per tonne over 2.6 metres:
-
Including 18.36 ounces per ton AuEq over 1.7 feet, or 629.6 g/t over 0.5 m;
-
GLOR14-001: 2.42 ounces per ton AuEq over 2.2 feet, or 83.1 g/t over 0.7 m;
- GLOR14-001: 3.63 ounces per ton AuEq over 0.5 foot, or 124.3 g/t over 0.2 m;
- GLOR15-006: 3.59 ounces per ton AuEq over 1.1 feet, or 123.0 g/t over 0.3 m;
- GLOR15-010: 1.39 ounces per ton AuEq over 7.2 feet, or 47.8 g/t over 2.2 m:
- Including 2.48 ounces per ton AuEq over 3.3 feet, or 85.2 g/t over 1.0 m;
- GLOR15-011: 2.20 ounces per ton AuEq over 1.4 feet, or 75.6 g/t over 0.4 m;
- GLOR15-020: 1.43 ounces per ton AuEq over 4.1 feet, or 48.9 g/t over 1.2 m:
- Including 8.07 ounces per ton AuEq over 0.7 foot, or 276.7 g/t over 0.2 m;
- GLOR15-025: 3.85 ounces per ton AuEq over 0.6 foot, or 132.0 g/t over 0.2 m;
- GLOR15-026: 2.20 ounces per ton AuEq over 2.5 feet, or 75.32g/t over 0.8 m;
- GLOR15-032: 3.74 ounces per ton AuEq over 1.7 feet, or 128.2 g/t over 0.5 m.
A total of 36 underground holes totalling 17,998 feet (5,486 m) were drilled in 2014 and 2015 by the prior owner and were not previously released. These holes encountered multiple veins and extended the Gloria vein system approximately 800 feet to the west and approximately 300 feet vertically. The Gloria vein system remains open up and down dip and along strike to the west. Klondex intends to infill drill the Gloria vein system in the fourth quarter of 2016 to develop a mineral resource estimate and continue stepping out to the west.
Hatter graben historical drilling highlights:
-
H8-264: 0.54 ounce per ton Au over 7.8 feet, or 18.6 g/t over 2.4 m (estimated true width of 5.5 feet, or 1.7 m);
- H8-269: 1.77 ounces per ton Au over 2.1 feet, or 60.7 g/t over 0.6 m (estimated true width of 1.5 feet, or 0.5 m);
- H8-274: 7.8 ounces per ton Au over 1.4 feet, or 268.0 g/t over 0.4 m (estimated true width of 1.0 foot, or 0.3 m);
- H8-281: 1.4 ounces per ton Au over 2.3 feet, or 48.0 g/t over 0.7 m (estimated true width of 1.3 feet, or 0.4 m);
- H8-285: 0.47 ounce per ton Au over 12.5 feet, or 16.0 g/t over 3.8 m (estimated true width of 8.8 feet, or 2.7 m).
The historical drilling program was conducted in 2008. Three holes did not render any significant results. This surface exploration drill program discovered the Hatter graben vein system, an east-west-trending structural zone containing several subparallel high-grade veins. Results of this program indicate that the system is approximately 1,800 feet (about 550 m) in strike and approximately 1,200 feet (365 m) in vertical extent and is open in all directions. Klondex intends to infill the widely spaced drill holes from surface to develop a mineral resource estimate.
Paul Huet, president and chief executive officer, commented: "We are extremely excited to be reunited with this important asset. Several members of the Klondex team have significant experience with and knowledge of Hollister. We believe the Gloria and the Hatter graben zones have significant exploration potential." Mr. Huet continued: "We have successfully completed the consolidation of Fire Creek, Midas and Hollister, three high-grade underground mines servicing one central mill at Midas, providing a unique opportunity to capture significant synergies among these operations. This has been a long-term vision and we are extremely proud of our team to be the company to finally accomplish this goal."
To the knowledge of Klondex, vein samples were analyzed by either metallic screen or standard fire assay procedures and quality assurance/quality control results were within acceptable limits. Assays were performed by ALS Chemex of Reno, Nev., an ISO 17025-accredited independent laboratory. The historical data were verified by Klondex's technical team, led by Brian Morris (AIPG CPG-11786), vice-president of exploration of Klondex and a qualified person within the meaning of National Instrument 43-101.
Qualified person
Scientific and technical information in this press release has been reviewed and approved by Mr. Morris.
GLORIA WEST DRILL PROGRAM -- COMPLETE RESULTS
Au Ag AuEq
Hole ID TD From To Length grade grade grade
(feet) (feet) (feet) (feet) (oz/st) (oz/st) (oz/st)
GLOR14-001 124,4 897.5 900.0 2.5 1.187 3.44 1.235
and 1,006.0 1,007.4 1.4 0.338 6.92 0.434
and 1,046.0 1,048.5 2.5 1.694 2.55 1.730
and 1,056.0 1,061.0 5.0 0.246 0.72 0.256
and 1,102.5 1,103.4 0.9 0.428 4.23 0.487
and 1,148.8 1,151.0 2.2 2.168 18.36 2.422
and 1,158.5 1,161.0 2.5 0.965 5.55 1.042
and 1,186.7 1,187.2 0.5 3.363 19.00 3.626
GLOR14-002 1,334 968.0 969.8 1.8 0.638 1.30 0.656
and 1,031.3 1,032.4 1.1 2.456 8.99 2.580
and 1,110.9 1,112.5 1.6 0.864 1.00 0.878
and 1,183.6 1,186.2 2.6 0.525 1.39 0.544
incl. 1,183.6 1,184.3 0.7 1.471 3.33 1.517
GLOR15-003 413 293.2 294.5 1.3 0.820 10.20 0.961
GLOR15-004 380 192.5 194.8 2.3 1.825 1.67 1.848
and 261.5 263.1 1.6 0.157 1.30 0.175
and 320.5 321.0 0.5 3.439 13.20 3.622
and 357.2 358.3 1.1 0.132 27.70 0.516
GLOR15-005 380 212.0 212.7 0.7 1.534 1.55 1.556
and 289.7 290.2 0.5 0.113 0.22 0.116
and 303.0 306.0 3.0 0.332 3.00 0.374
GLOR15-006 425 238.2 238.7 0.5 1.332 6.00 1.415
and 270.0 271.1 1.1 3.542 3.30 3.588
and 331.8 332.4 0.6 0.531 1.53 0.552
GLOR15-007 401 182.5 184.9 2.4 0.645 0.62 0.654
and 270.2 271.4 1.2 0.153 20.30 0.434
GLOR15-008 379 247.2 247.7 0.5 0.123 9.20 0.251
and 260.0 260.5 0.5 0.137 2.16 0.167
and 324.6 325.1 0.5 0.200 8.90 0.323
GLOR15-009 430 146.7 147.4 0.7 0.671 0.57 0.679
and 162.4 163.6 1.2 0.224 0.21 0.227
and 272.0 275.3 3.3 0.240 0.95 0.254
and 279.4 280.2 0.8 0.170 12.80 0.347
GLOR15-010 426 147.3 154.5 7.2 1.319 5.41 1.394
incl. 147.3 150.6 3.3 2.340 10.38 2.484
and 272.8 276.6 3.8 0.500 16.96 0.735
GLOR15-011 377 134.9 136.0 1.1 2.110 4.60 2.174
and 236.3 237.7 1.4 2.164 2.88 2.204
and 243.7 244.4 0.7 0.113 0.33 0.118
and 337.0 338.0 1.0 0.424 4.20 0.482
GLOR15-012 350 No significant intercepts
GLOR15-013 328 93.9 95.0 1.1 0.495 0.58 0.503
and 178.0 179.8 1.8 0.266 0.28 0.270
and 241.7 243.0 1.3 1.083 2.06 1.112
GLOR15-014 425 70.0 71.3 1.3 0.572 0.93 0.585
and 242.1 245.6 3.5 0.695 2.62 0.731
incl. 244.5 245.6 1.1 1.384 3.70 1.435
and 305.0 305.6 0.6 1.126 4.55 1.189
GLOR15-015 381 54.5 55.5 1.0 0.620 0.72 0.630
and 190.9 192.5 1.6 0.178 1.36 0.197
and 257.9 262.7 4.8 0.349 3.83 0.403
and 269.7 273.7 4.0 0.526 3.78 0.579
GLOR15-016 325 83.9 85.1 1.2 0.238 0.66 0.247
and 171.4 172.1 0.7 0.371 0.37 0.376
and 225.3 226.8 1.5 1.095 0.98 1.109
and 247.5 253.0 5.5 0.226 0.80 0.237
GLOR15-017 452 No significant intercepts
GLOR15-018 415 174.7 175.6 0.9 0.467 1.13 0.483
and 276.6 280.3 3.7 1.208 28.47 1.602
GLOR15-019 350 157.8 158.3 0.5 0.393 1.12 0.408
and 265.5 266.0 0.5 0.126 3.10 0.169
GLOR15-020 325 214.0 218.5 4.5 0.844 0.86 0.856
incl. 217.4 218.5 1.1 3.191 3.10 3.234
and 226.7 227.3 0.6 0.175 1.11 0.190
and 229.0 233.1 4.1 1.407 1.28 1.425
incl. 232.4 233.1 0.7 7.987 5.90 8.069
GLOR15-021 350 No significant intercepts
GLOR15-022 417 171.7 172.7 1.0 1.384 1.93 1.411
and 271.7 272.8 1.1 0.190 37.20 0.706
GLOR15-023 375 203.1 205.6 2.5 0.385 9.10 0.511
and 244.3 245.0 0.7 0.193 2.34 0.225
GLOR15-024 1,300 187.0 190.1 3.1 0.704 2.00 0.732
incl. 187.0 188.0 1.0 1.573 2.81 1.612
GLOR15-025 327 178.8 179.4 0.6 3.830 1.43 3.850
and 189.3 190.0 0.7 0.159 1.91 0.186
and 196.0 196.5 0.5 0.106 0.92 0.119
GLOR15-026 450 182.4 184.9 2.5 2.119 5.60 2.197
and 249.0 249.5 0.5 1.396 7.00 1.493
and 397.0 397.6 0.6 0.364 7.30 0.465
GLOR15-027 452 No significant intercepts
GLOR15-028 375 159.7 162.5 2.8 0.182 0.20 0.185
and 204.3 207.0 2.7 0.529 27.54 0.911
and 218.0 222.9 4.9 1.296 60.15 2.130
incl. 220.9 222.9 2.0 2.773 147.10 4.813
GLOR15-029 350 125.5 126.5 1.0 0.303 0.54 0.310
and 163.5 166.3 2.8 0.134 1.18 0.150
GLOR15-030 350 200.0 200.6 0.6 0.225 0.22 0.228
and 211.5 213.2 1.7 0.122 2.02 0.150
GLOR15-031 400 130.0 130.6 0.6 0.165 3.30 0.211
and 134.0 136.4 2.4 0.127 5.20 0.199
and 146.4 146.9 0.5 0.148 0.83 0.159
GLOR15-032 850 109.1 113.5 4.4 0.376 0.33 0.380
incl. 109.1 110.5 1.4 1.054 0.76 1.065
and 122.0 123.7 1.7 3.653 6.20 3.739
GLOR15-033 375 136.1 147.0 10.9 0.358 0.59 0.366
incl. 146.5 147.0 0.5 1.009 0.68 1.018
GLOR15-034 375 200.2 208.6 8.4 4.093 6.24 4.180
incl. 203.0 204.7 1.7 17.990 26.90 18.363
GLOR15-035 1,301 99.4 100.4 1.0 0.999 0.80 1.010
and 108.0 117.0 9.0 0.696 3.05 0.739
incl. 108.0 112.0 4.0 1.445 6.61 1.536
GLOR15-036 405 No significant intercepts
GLORIA WEST DRILL PROGRAM -- COMPLETE RESULTS
Au Ag AuEq
Hole ID From To Length grade grade grade Vein
(m) (m) (m) (g/t) (g/t) (g/t)
GLOR14-001 273.6 274.3 0.8 40.69 118.09 42.33 Gloria
and 306.6 307.1 0.4 11.60 237.19 14.89 Gloria
and 318.8 319.6 0.8 58.09 87.27 59.30 Gloria
and 321.9 323.4 1.5 8.42 24.77 8.76 Gloria
and 336.0 336.3 0.3 14.68 145.11 16.70 Gloria
and 350.2 350.8 0.7 74.32 629.50 83.05 Gloria
and 353.1 353.9 0.8 33.08 190.15 35.72 Gloria
and 361.7 361.9 0.2 115.29 651.52 124.33 Gloria
GLOR14-002 295.0 295.6 0.5 21.86 44.40 22.48 Gloria
and 314.3 314.7 0.3 84.12 308.00 88.39 Gloria
and 338.6 339.1 0.5 29.60 34.30 30.07 Gloria
and 360.8 361.6 0.8 17.98 47.72 18.64 Gloria
incl. 360.8 361.0 0.2 50.39 114.00 51.97 Gloria
GLOR15-003 89.4 89.8 0.4 28.13 319.00 32.55 Gloria
GLOR15-004 58.7 59.4 0.7 62.57 57.20 63.37 Gloria
and 79.7 80.2 0.5 5.39 44.40 6.01 Gloria
and 97.7 97.8 0.2 117.92 413.00 123.65 Gloria
and 108.9 109.2 0.3 4.53 866.00 16.54 Gloria
GLOR15-005 64.6 64.8 0.2 52.59 53.20 53.33 Gloria
and 88.3 88.5 0.2 3.86 7.60 3.97 Gloria
and 92.4 93.3 0.9 11.40 100.00 12.78 Gloria
GLOR15-006 72.6 72.8 0.2 45.66 218.00 48.68 Gloria
and 82.3 82.6 0.3 121.45 109.00 122.97 Gloria
and 101.1 101.3 0.2 18.20 52.50 18.93 Gloria
GLOR15-007 55.6 56.4 0.7 22.13 21.30 22.43 Gloria
and 82.4 82.7 0.4 5.25 695.00 14.89 Gloria
GLOR15-008 75.3 75.5 0.2 4.20 316.00 8.58 Gloria
and 79.2 79.4 0.2 4.69 74.10 5.72 Gloria
and 98.9 99.1 0.2 6.87 304.00 11.09 Gloria
GLOR15-009 44.7 44.9 0.2 23.00 19.40 23.27 Gloria
and 49.5 49.9 0.4 7.67 7.30 7.77 Gloria
and 82.9 83.9 1.0 8.24 32.64 8.69 Gloria
and 85.2 85.4 0.2 5.84 440.00 11.94 Gloria
GLOR15-010 44.9 47.1 2.2 45.22 184.98 47.79 Gloria
incl. 44.9 45.9 1.0 80.23 355.00 85.16 Gloria
and 83.1 84.3 1.2 17.12 582.42 25.20 Gloria
GLOR15-011 41.1 41.5 0.3 72.33 157.00 74.50 Gloria
and 72.0 72.5 0.4 74.19 98.80 75.56 Gloria
and 74.3 74.5 0.2 3.88 11.40 4.04 Gloria
and 102.7 103.0 0.3 14.53 144.00 16.53 Gloria
GLOR15-012 452 No significant intercepts
GLOR15-013 28.6 29.0 0.3 16.97 19.90 17.25 Gloria
and 54.3 54.8 0.5 9.12 9.70 9.26 Gloria
and 73.7 74.1 0.4 37.13 70.50 38.11 Gloria
GLOR15-014 21.3 21.7 0.4 19.60 31.90 20.04 Gloria
and 73.8 74.9 1.1 23.82 89.74 25.06 Gloria
incl. 74.5 74.9 0.3 47.46 127.00 49.22 Gloria
and 93.0 93.1 0.2 38.60 156.00 40.76 Gloria
GLOR15-015 16.6 16.9 0.3 21.26 24.60 21.61 Gloria
and 58.2 58.7 0.5 6.10 46.60 6.75 Gloria
and 78.6 80.1 1.5 11.99 131.27 13.81 Gloria
and 82.2 83.4 1.2 18.06 129.62 19.85 Gloria
GLOR15-016 25.6 25.9 0.4 8.17 22.70 8.48 Gloria
and 52.2 52.5 0.2 12.73 12.60 12.91 Gloria
and 68.7 69.1 0.5 37.53 33.70 38.00 Gloria
and 75.4 77.1 1.7 7.75 27.43 8.13 Gloria
GLOR15-017 No significant intercepts
GLOR15-018 53.2 53.5 0.3 16.00 38.80 16.54 Gloria
and 84.3 85.4 1.1 41.41 976.00 54.94 Gloria
GLOR15-019 48.1 48.2 0.2 13.47 38.30 14.00 Gloria
and 80.9 81.1 0.2 4.33 107.00 5.81 Gloria
GLOR15-020 65.2 66.6 1.4 28.93 29.73 29.35 Gloria
incl. 66.3 66.6 0.3 109.39 107.00 110.87 Gloria
and 69.1 69.3 0.2 6.01 38.10 6.54 Gloria
and 69.8 71.0 1.2 48.24 44.09 48.86 Gloria
incl. 70.8 71.0 0.2 273.84 203.00 276.65 Gloria
GLOR15-021 No significant intercepts
GLOR15-022 52.3 52.6 0.3 47.46 66.00 48.38 Gloria
and 82.8 83.1 0.3 6.50 1,277.00 24.21 Gloria
GLOR15-023 61.9 62.7 0.8 13.20 313.00 17.54 Gloria
and 74.5 74.7 0.2 6.63 80.10 7.74 Gloria
GLOR15-024 57.0 57.9 0.9 24.12 68.63 25.08 Gloria
incl. 57.0 57.3 0.3 53.93 96.40 55.26 Gloria
GLOR15-025 54.5 54.7 0.2 131.32 48.90 132.00 Gloria
and 57.7 57.9 0.2 5.45 65.60 6.36 Gloria
and 59.7 59.9 0.2 3.65 31.60 4.09 Gloria
GLOR15-026 55.6 56.4 0.8 72.66 192.00 75.32 Gloria
and 75.9 76.0 0.2 47.86 241.00 51.20 Gloria
and 121.0 121.2 0.2 12.47 250.00 15.93 Gloria
GLOR15-027 No significant intercepts
GLOR15-028 48.7 49.5 0.9 6.24 7.00 6.33 Gloria
and 62.3 63.1 0.8 18.13 944.89 31.24 Gloria
and 66.4 67.9 1.5 44.42 2,061.67 73.01 Gloria
incl. 67.3 67.9 0.6 95.06 5,042.00 164.97 Gloria
GLOR15-029 38.3 38.6 0.3 10.40 18.40 10.65 Gloria
and 49.8 50.7 0.9 4.58 40.40 5.14 Gloria
GLOR15-030 61.0 61.1 0.2 7.71 7.40 7.81 Gloria
and 64.5 65.0 0.5 4.17 69.10 5.13 Gloria
GLOR15-031 39.6 39.8 0.2 5.66 112.00 7.21 Gloria
and 40.8 41.6 0.7 4.35 177.00 6.80 Gloria
and 44.6 44.8 0.2 5.07 28.40 5.46 Gloria
GLOR15-032 33.3 34.6 1.3 12.89 11.44 13.05 Gloria
incl. 33.3 33.7 0.4 36.13 26.10 36.49 Gloria
and 37.2 37.7 0.5 125.25 213.00 128.21 Gloria
GLOR15-033 41.5 44.8 3.3 12.28 20.20 12.56 Gloria
incl. 44.7 44.8 0.2 34.60 23.20 34.92 Gloria
GLOR15-034 61.0 63.6 2.6 140.35 214.14 143.31 Gloria
incl. 61.9 62.4 0.5 616.80 923.00 629.60 Gloria
GLOR15-035 30.3 30.6 0.3 34.26 27.30 34.64 Gloria
and 32.9 35.7 2.7 23.88 104.76 25.33 Gloria
incl. 32.9 34.1 1.2 49.53 226.70 52.67 Gloria
GLOR15-036 No significant intercepts
The calculated gold equivalent ratio 72.12 to 1.
Intercepts are not true widths.
We seek Safe Harbor.
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