TSX-V: KG
CAD $0.065
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Regional Exploration and Production
There are producing placer gold mines both upstream and downstream of this property. The Klondike placer gold district has produced about 20 million ounces since 1896, and continues to produce about 50,000 ounces per year.
The Indian River Placer Project is an advanced-stage placer gold exploration property consisting of 188 placer bench claims. It is located in a wide, shallow valley about 30 km from Dawson City, Yukon in the heart of the Klondike gold-producing region. The gold target forms a wedge that is 300m at the beginning and broadens to a width of over 1500 m.
To date, the mineralized zone extends over a distance of more than 3km and remains open to expansion to the east and south. The property lends itself to environmentally responsible mining methods already employed successfully in the Klondike that engineers have refined to reduce energy requirements and minimize operating costs.
The Indian River placer gold project consists of placer claims along the southern edge of the Klondike placer mining region. Among the advantages of the Indian River property are that it can be brought into production quickly. It lends itself to environmentally responsible mining methods already employed successfully in the Klondike that engineers have refined to reduce energy requirements and minimize operating costs.
Other Local Exploration
Gimlex placer mine is situated about 3 km downstream, and is one of the largest placer mines in the Yukon.
Property Geology
Gold is hosted in old gravels which overlie the Permian Klondike Schist and younger rocks. The Klondike region has not been glaciated, which allows the preservation of rich placer gravels. Depth to bedrock averages about 7 m on the claims, with 1- 2 m of organic-rich loess and peat near surface, overlying gravel. The majority of gold is found in at the bedrock contact.
Work Completed to Date
The Company's joint venture partner Klondike Star has thus far drilled over 600 holes on 60% of the Indian River property. Gold was recovered from nearly 100% of the holes in the main target area. The target zone forms a wedge that is 300 meters (984 feet) at the beginning and broadens to a width of over 1,500 meters (4,921 feet). To date, the mineralized zone extends over a distance of more than 3 km (1.9 miles) and remains open to expansion to the east and south. Gold is uneven but consistently distributed across this broad area with gold values present across the entire width of the property. The fineness of the gold assayed at over 82%.
Recent Highlights
