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Klondike Gold Corp (3)
Symbol C : KG
Shares Issued 96,887,881
Close 2018-11-30 C$ 0.19
Recent Sedar Documents

Klondike Gold drills 91 m of 1.02 g/t Au at Klondike

2018-12-03 10:41 ET - News Release

Mr. Peter Tallman reports

KLONDIKE GOLD LONE STAR ZONE ASSAYS 1.02 G/T AU OVER 91.0 METERS

Klondike Gold Corp. has released assays from a further nine drill holes at the Lone Star zone at the company's wholly owned Klondike district property, Yukon Territory.

A total of 87 holes (9,511.93 metres) were drilled in 2018. To date, final assay results have been received and released from 51 of the 87 diamond drill holes completed in 2018. Exploration continues to affirm multiple local sources of bedrock gold mineralization, which explain placer deposits exploited historically within the Klondike district.

These nine holes, LS18-193 to LS18-201, continued the systematic testing of the Lone Star target at approximately 50-metre spacings from 11650E to 12300E with the objective of outlining the character, geometry and controls of gold mineralization.

Hole LS18-201 on 12300E intersected 1.02 grams per tonne gold over 91.0 metres starting from near surface, and LS18-200 on 12400E, 100 metres east of LS18-201, intersected 0.80 g/t Au over 36.26 metres from 94.5 metres downhole. Holes LS18-196 and LS18-199 both encountered and drilled down a north-south-trending zone of fault gouge, which has no significant gold values. This postmineralization structure has small apparent displacement and does not appear significant in the broader picture.

These results from sectional drilling continue to show broad intervals of gold mineralization starting at or near surface, as well as the presence of gold mineralization at greater depths and continue to demonstrate the auriferous nature of the bedrock mineralizing system.

            LONE STAR ZONE DRILL RESULTS

Hole ID      From (m)   To (m)  Au (g/t)  Interval (m)

LS18-193       49.50    66.90      0.38         17.40
LS18-194       36.00    56.70      0.53         20.70
LS18-195        1.00    33.00      0.47         32.00
LS18-196         NSV
LS18-197       87.00   101.30      0.47         14.30
and also      117.40   123.55      0.61          6.15
LS18-198       12.90    25.10      1.19         12.20
LS18-199         NSV
LS18-200       94.50   130.76      0.80         36.26
LS18-201       17.70   108.70      1.02         91.00

An updated plan map of Lone Star zone drill hole locations is available on the company's website.

Lone Star zone drill holes LS18-193 to LS18-201 were drilled at negative 55 dip and 200 azimuth. Assay averages are calculated over drilled core lengths; true thickness from holes drilled at 200 azimuth is approximately the drilled interval.

Continuing work

The final report and lithologic and structural mapping results from across the Klondike district project are due imminently from SRK Consulting. This information, once received, will be integrated with final results of Klondike Gold's detailed mapping, as well as the products of district airborne geophysical surveying, soil geochemical surveying and prospecting. Results of the regional program will be released with discussion at that time.

The Lone Star zone is one of five targets drill tested during the 2018 exploration program. Additional drill results from Lone Star holes LS18-202 to LS18-210, the last results pending from the Lone Star target testing, are expected imminently. Results from EC18-215 to EC18-241, which tested other targets will be released as they are received, evaluated and incorporated into the evolving exploration model. Cross sections, including geology and mineralization, will be posted when all holes from the individual zones are available. For reference, LS18-210 is the final 2018 hole drilled at the Lone Star zone, the hole ID numbers -211 to -214 were unused, and holes EC18-215 to EC18-241 targeted the Nugget zone or other targets along Eldorado Creek.

A total of 87 holes (9,511.93 metres) were drilled in 2018. Assays from drilling at the Lone Star zone (LS18-151 to LS18-159; LS18-164 to LS18-201) and Gold Run area (GR18-160 to GR18-163) have been released.

Quality assurance and methods

Klondike Gold maintains a rigorous quality assurance/quality control program. Details can be viewed on the company's website.

Drill core samples are submitted by Klondike Gold personnel to Bureau Veritas Mineral Laboratories (formerly Acme Labs) preparation facility in Whitehorse, Yukon, with chemical analysis of sample pulps completed in Vancouver, B.C. Bureau Veritas Labs is an accredited ISO 9001:2008 full-service commercial laboratory.

At BV Labs each core sample is crushed to 70 per cent passing two-millimetre size. A 500-gram subsample is pulverized to 85 per cent passing minus-75-micron size (code PRP70-500). The 500 g subsample is then sieved to 106 microns (140 mesh) for metallic screen assaying. The plus-140-mesh fraction is then weighed and assayed for gold by fire assay (FA) fusion with a gravimetric finish (code FS631). A 30 g subsample of the minus-140-mesh fraction is assayed for gold by fire assay (FA) fusion with an atomic absorption (AA) finish (code FA430). All overlimit results in excess of 10 parts per million (10 grams per tonne) for both silver and gold are reassayed using a 30 g subsample and assayed by FA with a gravimetric finish (code FA530-Au/Ag). Total gold grade is then calculated using a weighted average of the plus and minus fraction assay results.

The technical and scientific information contained within this news release has been reviewed and approved by Ian Perry, PGeol, vice-president, exploration, of Klondike Gold and qualified person as defined by National Instrument 43-101 policy.

About Klondike Gold Corp.

Klondike Gold is a Canadian exploration company with offices in Vancouver, B.C., and Dawson City, Yukon. The company is focused on exploration and development of the Lone Star gold target at the confluence of Bonanza and Eldorado Creeks, within a district-scale 557-square-kilometre property accessible by government-maintained roads located on the outskirts of Dawson City, Yukon, within the Tr'ondek Hwech'in First Nation traditional territory.

We seek Safe Harbor.

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