Mr. Peter Tallman reports
KLONDIKE GOLD COMMENCES 2017 DRILL PROGRAM
Klondike Gold Corp. has commenced diamond drilling and geophysical surveying as part of a $2-million exploration program within the company's Klondike district property inYukon.
The company exploration plan for 2017 includes 50 to 60 diamond drill holes as well as targeted geophysical surveying, soil sampling, mapping and prospecting.The program will build on geologic insights from the two previous seasons that demonstrate a local orogenic source for the extensive historical placer gold deposits of the Klondike district.
Work will focus on advancing the four-kilometre-long Lone Star exploration target, the first significant sizable gold-bearing bulk-tonnage-type target area outlined within the district.More broadly across the district, the working geologic model is generating other quality targets that are taking shape throughout the company's expanded claimholdings (see news release dated Aug. 8, 2016).
Summary
Phase 1 diamond drilling commences today;16 to 20 drill holes are planned in phase 1.A total of 50 to 60 holes are anticipated in three to four drilling phases through the season. Three-dimensional induced polarization surveying commences today.Approximately 40 line kilometres of survey are planned. Soil sampling has commenced;2,057 samples have been submitted for analysis andup to an additional 5,000 are planned for collection. District-wide mapping and prospecting have commenced.
Phase 1 diamond drilling commenced today at the Lone Star exploration target with approximately 16 to 20 holes planned to be completed in the next three weeks.Objectives of this phase 1 program include stepout tests to the west and down dip from LS16-58, which intersected 2.4 grams per tonne over 37.1 metres (see news release dated Nov. 1, 2016), stepout tests to the east on 50-metre centres to extend the strike length in that direction, and various tests of new gold targets interpreted to be on parallel, linked structures also with gold mineralization.The working model interprets the Lone Star area as having multiple zones of parallel, linked mineralization similar to the pattern found collectively at Goldcorp's gold-bearing Coffee Latte/Mocha Latte/Kona-linked zones.
Three-dimensional induced polarization geophysical surveying also commenced today at the Lone Star target.An extensive state-of-the-art high-resolution 3-D imaging of electrical resistivity and induced polarization survey is expected to map the geology and continuity of the Lone Star target to the west, east and to depth.The survey is expected to cover 40 line kilometres and be complete in 30 days.Preliminary results from this survey will be used to target phase 2 drilling.
Soil sampling has commenced as part of a systematic district-scale survey.A total of 2,057 samples have been submitted for analysis.Up to an additional 5,000 soil samples are planned for collection over the next two months.
Mapping and prospecting each have commenced.The mapping survey will be the first ever undertaken to span the entire Klondike district in one systematic, methodical and comprehensive survey and will include the eastern end of the belt, which has effectively been unmapped.Mapping is expected to generate a uniform property map of geological units, structures and mineralization in detail sufficient to guide future targeted exploration.Prospecting will accompany mapping and, in conjunction with soil results received, is expected to generate new targets for future work.At least one new target is expected to be selected for diamond drill testing later this season.
The technical and scientific information contained within this news release has been reviewed and approved by Peter Tallman, PGeo, president of Klondike Gold and a qualified person as defined by National Instrument 43-101 policy.
About Klondike Gold Corp.
Klondike Gold is a Canadian exploration company with offices in Vancouver, B.C.,and Dawson City, Yukon.The company is focused on exploration and development of its Yukon gold projects, accessible by government-maintained roads located on the outskirts of Dawson City, Yukon, covering a district-scale 527 square kilometres of hard rock and 20 square kilometres of placer claims.
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