The Klondike Property is a 30 minute drive southeast of Dawson City within the Dawson mining district. The Klondike District Project titles consist of 3,078 registered contiguous quartz claims and 14 Crown Grants covering an aggregate area of approximately 58,470 hectares over an elongated area approximately 50 by 12 kilometres in dimension. The boundaries of 14 Crown Grants were legally surveyed in c.1900 with survey information available from Yukon Archives. As of the date of this report, all 3,078 quartz claims and 14 Crown Grants are listed by the Yukon Territorial Government website and Dawson Mining Recorder with titles indicated to be 100% owned by Klondike Gold Corporation and held in good standing.
The Eldorado Property is underlain by lithologies assigned to the Permian Klondike Schist Assemblage, part of the Yukon-Tanana Terrain. This unit has a complex deformation history with at least four phases of deformation (D1-D4). The so-called D4 quartz veins are gold-bearing.
The Initial Mineral Resource Estimate comprises a total Indicated Mineral Resource of 469,000 ounces of gold and a total Inferred Mineral Resource of 112,000 ounces of gold on the near-surface Lone Star and Stander Deposits. The Mineral Resource Estimate is based upon drilling results from 2014 through 2021 field seasons. The pit-constrained Mineral Resource Estimate is summarized below.
Table 1: Pit-Constrained Mineral Resource Estimate at a 0.2 g/t Au Cut-Off – Effective November 10, 2022 – Lone Star and Stander Deposits
Both the Lone Star and Stander open pit deposits remain open with mineralization known to extend beyond the current resource model boundaries. Additionally, the average indicated mineral resource grade at Stander Deposit is 35% higher than at Lone Star Deposit. (Refer to Figure 1: Klondike District Gold Project 2022 Resource Areas.)