KLONDIKE GOLD CORP. (TSX-V: KG) is pleased to announce encouraging results for the Violet vein trend, 310 Zone, and recently discovered Boy soil anomaly (Figure 1). These results in conjunction with Boulder Lode open cut results will direct 2013 exploration and drilling.
On July 7th, 2012 the 50/50 joint venture between Klondike Gold Corp. and 46799 Yukon Inc., was formed to operate a placer mining operation on 188 claims on the Indian River in the Yukon Territory. (See News Release of July 26, 2012). Work on the site commenced on July 27th and the company is pleased to announce, that in the short period since that date, the operating company, KG46 Holdings
KLONDIKE GOLD CORP.(the “Company”) (TSX-V: KG) (the “Company”) is pleased to announce that its 2012 field exploration season in the Yukon has provided encouraging results and direction for the 2013 season. This year has been the first year that consistent exploration on the property has been conducted since 2007 and by compiling the historic and more recent exploration data with this year’s results our team has obtained important new insights into the structure and geology of the Lone Star ridge. This will in assist our objective of bringing the considerable gold occurrences on the property into a recognizable resource format.
Klondike Gold Corp.(the “Company”) is pleased to announce it is arranging for a private placement of up to 6 million units for total proceeds of up to $600,000. The financing Unit will consist of either flow-through shares or non flow through shares in addition to one-half, non-transferable share purchase warrant entitling the purchaser to purchase one common share for every full warrant at a price of $0.20 for three years. The offering will be priced at $0.10 per unit for non flow through share units and at $0.12 per unit for flow through share units.
Klondike Gold Corp. (TSX-V: KG) (the “Company”) is pleased to announce that construction work is under way at the Indian River Project under the terms of a newly signed Joint Venture Agreement with privately held 46799 Yukon Inc. As previously announced (July 12, 2012), Klondike Gold entered into the Joint Venture (JV) with 46799 Yukon Inc. to further explore and develop the Indian River mining project. The fully permitted placer gold property lies within the Indian River Valley — Yukon’s largest gold producer in recent years — and is accessible by road (about a 75-minute drive) from Dawson City.
Vancouver, BC – KLONDIKE GOLD CORP. (TSX-V: KG)(the “Company”) is pleased to announce that its summer exploration season continues in the Yukon and is progressing well. Klondike Gold’s Yukon exploration program is focusing on the Company’s Lone Star Project targeting soil geochemical anomalies with trenching and under explored areas using soil sampling. In addition, surface work on the historic Lone Star and Violet mines is continuing, with particular attention being paid to the Lone Star.
Klondike Gold Corp. (TSX-V: KG) (the “Company”) is pleased to announce that it has signed a Letter of Intent with 46799 Yukon Inc. wherein the parties agree to enter into a Joint Venture (the “JV”) for the purpose of further exploring and developing a placer gold mine located on the Indian River and Montana Creek in the Dawson City Mining District. Klondike Gold Corp. will provide the property and the permits required for exploration and mining and an extensive amount of exploration data. 46799 Yukon Inc. will provide equipment and initial capital to the Joint Venture. Upon each party making their respective contributions to the JV, each will have a 50% participating interest in the JV and its ongoing operations.
Klondike Gold Corp. (TSX-V: KG) (the “Company”) is pleased to announce the acquisition by staking of the 15 Mile Silver City Property and provide an update of its ongoing review and compilation of historical work on the Lone Star Property.
Klondike Gold Corp. (TSX-V: KG)(the “Company”) is pleased to announce that it has entered into an option agreement with PJX Resources Inc. (“PJX”) The agreement allows PJX to obtain a 50% undivided interest to the Company’s Vine Project, located 11 kilometers southwest of Cranbrook, British Columbia. The Property encompasses 84 claims and covers an area of 6,301 hectares. Under the terms of the option PJX is committed to spending a total of $1,500,000 over five years on the property, of which $1,000,000 must be spent on drilling. PJX will also issue to the Company up to 200,000 shares.
Klondike Gold Corp. (TSX-V: KG) (the “Company”) confirms that it has started its 2012 exploration program with drilling between the historical Lone Star and Pioneer mines. The Company has signed a 1500 meter drilling contract with CanDrill Global Inc. of Prince Albert, Saskatchewan, designed to gain a better understanding of the geology and structure of the Lone Star deposit. Despite the efforts of previous operators, there is still insufficient data to produce a reliable geological model of the Lone Star deposit. The Company believes that the current drill program allows the development of a more complete model of the Lone Star deposit.