09:48:06 EDT Wed 05 Aug 2020
Enter Symbol
or Name
USA
CA



Klondex Mines Ltd
Symbol KDX
Shares Issued 121,448,083
Close 2014-10-07 C$ 1.82
Recent Sedar Documents

Klondex drills 3.55 m of 157.8 g/t Au at Fire Creek

2014-10-08 06:52 ET - News Release

Mr. Paul Huet reports

KLONDEX RELEASES FIRE CREEK DRILL PROGRAM RESULTS

Klondex Mines Ltd. has provided an update on recent underground infill and exploration drilling from its Fire Creek gold project near Elko, Nev. An updated mineral resource estimate for Fire Creek, which includes these drill results, is expected to be released in the fourth quarter of 2014.

Highlights:

  • 157.8 grams per tonne (4.6 ounces per ton) gold over 3.55 metres (11.4 feet) -- FCU-0199 -- Karen vein;
  • 85.7 grams per tonne (2.5 ounces per ton) gold over 4.68 metres (15.0 feet) -- FCU-0209 -- Karen vein;
  • 1,474.6 grams per tonne (43.0 ounces per ton) gold over 0.62 metre (two feet) -- FCU-0043 -- Joyce vein;
  • 367.6 grams per tonne (10.7 ounces per ton) gold over 1.87 metres (six feet) -- FCU-0086 -- Joyce vein;
  • 1,404.6 grams per tonne (41.1 ounces per ton) gold over 0.53 metre (1.7 feet) -- FCU-0011 -- Vonnie vein;
  • 174.9 grams per tonne (5.1 ounces per ton) gold over one metre (3.2 feet) -- FCU-0160 -- Hui Wu vein.

In all, 124 infill and exploration core holes have been drilled since Feb. 1, 2014, for a total of 12,490 metres (40,976 feet). The core holes were drilled from multiple drill platforms and from various locations in existing mineral headings. Drilling from the existing headings provided opportunities to define the veins in areas that were previously inaccessible to drilling. The objective of the infill drill program (less than 100-foot drill spacing) is to convert the inferred mineral resource to the measured and indicated category.

The increased confidence of the strike length and up-/down-dip projections in the company's model will allow Klondex to develop more accurate short- and long-term mine plans. The known limits of the veins' projected dip and strike length remain open and are constrained only by drilling.

Main zone

Vonnie vein:

  • Infill drilling increased confidence of 930 feet of strike length and 375 feet of dip extent.

Joyce vein:

  • Infill drilling increased confidence of 900 feet of strike length and 575 feet of dip extent.

West zone

Hui Wu vein:

  • Infill drilling increased confidence of 600 feet of strike length and 300 feet of dip extent.

Karen vein:

  • Infill drilling increased confidence of 600 feet of strike length and 275 feet of dip extent.

Honeyrunner:

  • The defined strike length of the Honeyrunner is approximately 472 metres (1,550 feet), and 160 metres (525 feet) of known vertical dip extent (see press release dated Sept. 15, 2014).

Brent Kristof, chief operating operator of Klondex, commented: "We are encouraged by these high-grade drill intercepts and the results of additional infill and exploration drilling at Fire Creek. All vein structures remain open along strike and up and down dip. Given this, Klondex continues to look to expand the life of the Fire Creek project through its drilling programs.

"We intend to continue delineating the veins and increasing the quality of the mineral resource. We are excited to update our technical report later this year. The new mineral resource will add more data from the West zone, including the Karen, Hui Wu and Honeyrunner, as well as the new drilling on Joyce and Vonnie."

Assays were performed by ALS Chemex of Elko, Nev., and American Assay Laboratories of Reno, Nev. (both independent laboratories), as directed under the supervision of Klondex staff.

Qualified person

Mark Odell of Practical Mining LLC is the independent qualified person (Nevada PE 13708 and SME 2402150) who has reviewed and approved the contents of this press release for the purposes of National Instrument 43-101.

We seek Safe Harbor.

© 2020 Canjex Publishing Ltd. All rights reserved.