Klondike Gold (KG-V) Aug 10, '16 announces assays from the Violet Ridge target and updates progress of ongoing drilling at the Lone Star property near Dawson City, Yukon Territory.
Nugget Zone Drilling Underway
Drilling is in progress at the Nugget Zone with the objective of testing for the western continuation of gold-bearing mineralization, and also testing for the eastern continuation previously thought to be closed off.
Nugget Zone drill results earlier yielded up to 5.1 g/t Au over 14.3 meters (see News Release July 14, 2016) with mineralization remaining open to the west. Mapping prior to reclamation of these drill pads (cleared by the dozer) has identified two outcrops of visible gold-bearing quartz veining interpreted to potentially represent either the eastern continuation of Upper Nugget Zone mineralization or another parallel gold-bearing vein system 10 to 15 meters structurally above it.
Drilling Results – Violet Ridge
The Company has received assays from a total of 17 drill holes testing the Violet Ridge group of drill targets including the “310”, “Isaac” and “Violet Mine” subzones (as described in News Release dated July 14, 2016). No economic grades or widths were encountered in any of these holes along Violet Ridge. All holes intersected the targeted quartz veins which upon assay contained geochemically anomalous zones of gold above 100 ppb Au, and locally up to 4.1 g/t Au over narrow 0.44 meter widths. Alteration surrounding the veins did not carry gold values. Drill sections with simplified geology, assays, and surface grab assay information can be found HERE.
Dominion Property Drilling
A total of 10 holes have been completed on the Dominion Property. Drill results remain pending.
Lone Star Magnetics Survey Completed
A total of 230 line kilometers of ground magnetics has been completed. The survey extends the northern and southern extents of the Eldorado fault structures which are interpreted to be a significant control to Nugget Zone and Gay Gulch Zone of gold mineralization (see News Releases dated July 14, 2016 and October 26, 2015).
The technical and scientific information contained within this news release has been reviewed and approved by Peter Tallman, P.Geo, President of Klondike Gold Corp., and Qualified Person as defined by National Instrument 43-101 policy. See previous news releases for prospecting grab sample assay procedures and protocols.
ABOUT KLONDIKE GOLD CORP.
Klondike Gold Corp. is a Canadian exploration company with offices in Vancouver, British Columbia, and Dawson City, Yukon Territory. The company is focused on exploration and development of its Yukon gold projects, accessible by government maintained roads located on the outskirts of Dawson City, YT, covering 527 square kilometers of hard rock and 20 square kilometers of placer claims including “McKinnon Creek” featured on the Discovery Channel show “Gold Rush”.
On behalf of Klondike Gold Corp.
“Peter Tallman”
President and CEO
(604) 559-4440
E-mail: info@klondikegoldcorp.com
Website: www.klondikegoldcorp.com
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