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Klondex drills three metres of 18.01 g/t gold at Fire Creek

Thursday, November 10, 2016 13:17
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(Before It's News)

Klondex Mines Ltd. (TSE:KDX, NYSEMKT:KLDX) updated on surface and underground drilling at its Fire Creek mine, located in northern Nevada, on Thursday.

The US drill results are in addition to those included within the mineral reserve and mineral resource estimates released on Sept. 12. Read more

Fire Creek mine surface drilling involved 14 surface holes totalling 19,801 feet (6,033 metres) being drilled during the reporting period. These holes targeted vein extensions in the Northwest, North, Eastern and South expansion areas, along strike and up and down dip.

There was also a west zone new discovery. Hole FCC-0020 targeted a 6,500-foot (1,980-metre) geophysical anomaly approximately 3,960 feet (1,207 metres) west of the current mine workings. This intercept is approximately 400 feet (1,207 metres) below surface and suggests a new mineralized structure that is open in all directions.

The Fire Creek district contains a number of similar geophysical anomalies that have not yet been tested, further suggesting additional growth potential of the Fire Creek land position. A follow-up drill program is in progress.

Meanwhile, the Fire Creek mine underground drilling resulted in 65 underground holes totalling 41,172 feet (12,549 metres) being drilled during the reporting period. These holes tested vein extensions along strike and vertically, continuing to suggest the continuity of this high-grade vein system.

This drilling extended vein 16 875 feet (266.7 metres) to the south along strike and 175 feet (53.3 metres) vertically and extended vein 9 to the north along strike by 100 feet (30.5 metres).

Until this year, this area had limited surface drilling with sparse results. Tighter sampling and underground drilling suggest that there could be a robust vein network within a short distance northeast of the main workings. Westward-directed drilling has continued to define and infill the resource model along the Karen and Honeyrunner veins.

Infill, downdip drilling continued on Karen, Hui Wu, Joyce and Vonnie veins. These drill results continue to highlight wide, high-grade ore shoots near existing mine development, a portion of which may be in production in 2017.

Fire Creek mine surface drilling highlights:

  • FCC-0020: 0.53 ounce per ton gold over 10 feet, or 18.01 grams per tonne gold over three metres — West zone;
  • FCC-0033: 0.38 ounce per ton gold over 9.2 feet, or 13.15 grams per tonne gold over 2.8 metres — Northwest expansion;
  • And 0.65 ounce per ton gold over 1.5 feet, or 22.40 grams per tonne gold over 0.5 metre — Northwest expansion;
  • FCC-0042: 0.39 ounce per ton gold over 1.3 feet, or 13.30 grams per tonne gold over 0.4 metre — North expansion;
  • FCC-0053: 0.62 ounce per ton gold over 0.8 foot, or 21.30 grams per tonne gold over 0.2 metre — Northwest expansion.

Fire Creek mine underground drilling highlights:

  • FCU-0649: 12.11 ounces per ton gold over 5.1 feet, or 415.33 grams per tonne gold over 1.6 metres — Joyce vein;
  • FCU-0656: 6.71 ounces per ton gold over five feet, or 230.03 grams per tonne gold over 1.5 metres — Hui Wu vein;
  • FCU-0661: 5.82 ounces per ton gold over one foot, or 199.52 grams per tonne gold over 0.3 metre — vein 18;
  • FCU-0638: 3.98 ounces per ton gold over 6.8 feet, or 136.48 grams per tonne gold over 2.1 metres — vein 5;
  • FCU-0668: 3.49 ounces per ton gold over 2.9 feet, or 119.51 grams per tonne gold over 0.9 metre — vein 13.

“These underground drill results continue to demonstrate the robust, high-grade nature of the vein system,” said Brian Morris, vice-president, exploration.

“The new discovery in the West zone is another example of our Fire Creek exploration team utilizing and confirming our understanding of the geophysical data set. This indicates that we may have a much larger, district-wide system at Fire Creek and suggests the potential to expand well beyond the current footprint.”

Story by ProactiveInvestors

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