Vancouver, British Columbia, Canada, April 21, 2022, Klondike Gold Corp. (TSX.V: KG; FRA: LBDP; OTCQB: KDKGF) (“Klondike Gold” or the “Company”) is pleased to provide an update on planned 2022 exploration activities at the Klondike District Gold Project, located in the Dawson Mining District, Yukon, Canada.
In 2022, Klondike Gold plans to complete approximately 8,000 meters of drilling using up to 2 drill rigs. Work will initially target potential extensions to gold mineralization at the Stander Zone, which has previously yielded near surface drill intersections with the highest gold grades of any prospect identified to date at the project. Further drilling is also planned to test for extensions to Lone Star Zone gold mineralization and to test other targets.
Klondike Gold plans to declare an initial inferred mineral resource as part of its 2022 exploration program. This work will be based upon 2015 to 2021 drilling results at the Lone Star Zone and Stander Zone gold discoveries. Upon release of the mineral resource, Klondike Gold also expects to commission a preliminary economic assessment (“PEA”) for completion in 2023. In preparation for the PEA, the Company’s 2022 field work includes metallurgical testing and additional permitting, as well as environmental and heritage resource studies.
Klondike Gold has recently expanded its geological team and has begun retaining engineering and other outside contractors to form an experienced, multi-disciplinary group with the objective to deliver significant advances to the project over the next year. The project team is currently completing the work necessary for underpinning the initial inferred mineral resource and will be directing 2022 exploration work to expand it. Field work is expected to begin in late April and drilling is planned to commence by mid-May.
Peter Tallman, Klondike Gold’s CEO states “The Company plans to deliver an initial inferred mineral resource in 2022, prospectively the first in-situ bedrock gold resource ever identified in the 125-year history of gold exploration in the Klondike Goldfields, finally confirming local sources of gold to begin accounting for the over 20 million gold ounces extracted from placer mining in the creeks and gulches since 1896. Building on this, the Company has a number of ‘pipeline’ targets within our district-spanning 586 square kilometer project that we believe will yield future discoveries and further demonstrate the significant economic potential of this historic gold district.”
SRK Consulting of Toronto is preparing a NI 43-101 Technical Report summarizing geology and exploration on the Company’s Klondike District Project. The report is nearing completion and will be released when received.
Klondike Gold contracted GeoCloud Analytics of Melbourne, Australia to complete a detailed re-interpretation of the 2019 LiDAR survey data (see NR September 23, 2021). Work is nearing completion with the goal of completing re-interpretation of the dataset covering the entirety of the Company’s claims prior to the 2022 field season.
Klondike Gold has filed a placer mining permit for renewal of its Upper Eldorado Creek operation and a quartz exploration permit for renewal of exploration activities in the southeast end of the Company’s Klondike District Property.
Klondike Gold Corp will be participating in the following upcoming events:
Red Cloud Pre-PDAC Mining Showcase (online) – date to be determined
Vancouver Resource Investment Conference (Vancouver) – May 16 to May 17, 2022
Dawson City International Gold Show (Dawson, Yukon) – May 20 to May 21, 2022
Metals Investor Forum (Toronto) – June 11 to June 12, 2022
PDAC (Toronto) – June 13 to June 15, 2022
Yukon Mining Investment Conference (Dawson, Yukon) – June 21 to June 22, 2022
All events are subject to change.
QUALIFIED PERSONS REVIEW
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. Detailed technical information, specifications, analytical information and procedures can be found on the Company’s website.
ABOUT KLONDIKE GOLD CORP.
Klondike Gold Corp. is a Vancouver based gold exploration company advancing its 100%-owned Klondike District Gold Project located at Dawson City, Yukon Territory, one of the top mining jurisdictions in the world. The Klondike District Gold Project targets gold associated with district scale orogenic faults along the 55-kilometer length of the famous Klondike Goldfields placer district. To date, multi-kilometer gold mineralization has been identified at both the Lone Star Zone and Stander Zone, among other targets. The Company is focused on exploration and development of its 586 square kilometer property accessible by scheduled airline and government-maintained roads located on the outskirts of Dawson City, YT within the Tr’ondëk Hwëch’in First Nation traditional territory.
ON BEHALF OF KLONDIKE GOLD CORP.
President and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
“This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as “may,” “will,” “should,” “anticipate,” “plan,” “expect,” “believe,” “estimate,” “intend” and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Klondike in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Klondike’s actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.
Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management’s Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Klondike disclaims any obligation to update or revise any forward-looking information or statements except as may be required.”