Klondike Gold Corp (CVE:KG) (OTCPINK:KDKGF) (FRA:LBDP) told investors that this year’s first phase diamond drill program is expected to begin soon at its 586 square kilometers (sq km) Klondike District project in Yukon, starting at the historic the Virgin/Lindow target areas.
The area lies 10km north from the Lone Star and Stander Zones, and 6km from the company’s office in Dawson City.
READ: Klondike Gold unveils positive drill results from Lone Star zone at its Klondike District project in Yukon
The targets consist of the Virgin Mine and the Lindow Showing, which are 2km apart from each other along Bear Creek, one of the significant placer gold-producing creeks during the famous Klondike gold rush.
The firm’s 2021 exploration/resource drilling program consists of around 6,500 metres (m), which will be distributed over three phases and test multiple target areas, said Klondike.
After the first phase at the Virgin area, phase two drilling will focus on expanding the Stander Zone, while Phase 3 will focus on outlining a maiden resource on targets within the Lone Star zone.
“The steady and thorough exploration programs of the past several years is now paying off,” said Peter Tallman, Klondike Gold’s CEO in a statement.
“We’re confident in our geologic understanding of the processes that formed widespread gold mineralization in the Klondike District, both placer and hard-rock and we’re now set to capitalize on those efforts and insights. We have an abundance of targets to test with our 2021 drilling, some that will build toward our goal of completing a maiden resource estimate at Lone Star, and some that may surprise with new discoveries proximal to historic placer mines. It’s going to be an exciting season.”
Underground development consisting of two shafts and two adits had been completed at the Virgin mine by 1913 and a ‘stamp mill’ was installed that year, which reportedly processed 265 ounces of gold from the workings.
Prospecting grab samples or mapping samples of host rocks collected by Klondike Gold up to 2021 have yielded five samples between 5 and 14.2 grams per ton (g/t) gold, with one sample of 0.9 g/t gold, and 14 samples with no significant assay.
Gold in quartz veins was discovered at the Lindow Showing in 1911. Underground development there consisted of two (or three) shafts and one adit however no contemporary records are known and the workings were obscured by subsequent placer mining.
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Story by ProactiveInvestors
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