Mr. Peter Tallman reports
KLONDIKE GOLD COMMENCES 2018 DRILLING
Klondike Gold Corp. has commencedits 2018 diamond drill program at the company's wholly owned Klondike district property inYukon.A minimum total of $2.5-million is budgeted for 2018, including an estimated 5,000 metres of drilling (see March 9, 2018, news release).All major work contracts have been finalized, with work components under way or scheduled to begin early in June.The company has completed a structural and geological compilation, producing the first geology map of the Klondike district subdividing previously undifferentiated Klondike schist, which will help focus exploration efforts on the most prospective geologic targets.The company welcomes Ian Perry, PGeo, to fill the role of vice-president, exploration.
Summary:
The 2018 diamond drill program has commenced at the Lone Star zone.An estimated 5,000 metres of drilling are planned to test the Lone Star zone, the Gold Run target and others in 2018. SRK isto refine structural and lithologic mapping beginning in June. New-Sense Geophysics Ltd. is to complete 3,000 line kilometres of helicopter-borne magnetic, radiometric and VLF-EM (very low frequency/electromagnetic) surveying beginning in June. GroundTruth Exploration is to collect 5,000 soils throughout the Klondike district property. Ian Perry, PGeo, has been appointed as vice-president of exploration.
Drill strategy
The initial phase of drilling now under way is designed to test surface gold mineralization at both the Lone Star zone and the newly discovered Gold Run target located 35 kilometres southeast, along strike on the Rabbit Creek thrust trend.Later phases of drilling are planned to include testing of the Lone Star zone, the Nugget zone and other targets.
At the Lone Star zone, the first series of shallow holes isdesigned to systematically test selected section lines to provide information on the lateral and vertical geometry and continuity of gold mineralization.Drilling procedures will include using oriented core tools with both NTW- and HTW-diameter core as well as systematic use of XRF (X-ray fluorescence) analyzers.Plans also include drilling specific locations across the Lone Star zone to be used for preliminary metallurgical tests.The Lone Star zone is located 20 kilometres from Dawson at the northwest end of the Klondike district property.A total of approximately 20 holes are initially planned, with additional holes to follow as the summer progresses.
At the new Gold Run target, prospecting in late 2017 located three lost (around 1900) mine shafts.Visible gold was observed in quartz vein material within sorted, hand-stacked tailings piles adjacent to each of these shafts within a 300-metre-by-200-metre area.In total, 27 prospecting samples were collected from quartz material in the three tailings piles and all contained gold (0.6 gram per tonneto 55 grams per tonne gold).These prospecting samples are very selective in nature and arenon-representative rock grab samples collected to test for the presence or absence of gold.Systematic additional test results may vary significantly.Individual quartz vein pieces with selvages suggest individual veins are only 10 centimetres to 50 centimetresin width.The old shafts are located in a similar structural position to Lone Star zone above a major thrust fault (inferred to be a continuation of the Rabbit Creek thrust) and adjacent to an interpreted secondary fault (inferred to be the Bonanza fault or equivalent).The Gold Run target is located 35 kilometres from the Lone Star zone and 55 kilometres from Dawson.A total of four holes are planned to test for geology and mineralization and will be followed by soil surveying to help identify anomalous trends, with additional holes contingent upon positive results.
2018 work contracts
SRK Consulting has been contracted to conduct structural and lithologic mapping through the Klondike district property.The objective of this work is to identify district-scale structures and the disposition of individual lithologies adjacent to these faults, which will complement the compilation recently completed by Klondike Gold staff.Fieldwork is scheduled to begin by mid-June and be completed by mid-August.
New-Sense Geophysics has been contracted to complete helicopter-borne magnetic, radiometric and VLF-EM surveying totalling approximately 3,000 line kilometres covering the Klondike district property, including portions previously covered by ground surveys.This work is expected to provide a comprehensive view of structures transecting the district and be completed within this season, potentially allowing for targeted drilling follow-up.Airborne surveying is scheduled to begin in June.
GroundTruth Exploration is providing drone orthophotography surveying on targeted areas where no previous coverage exists.Drone surveys have been completed, with data delivery expected this week.Additionally, GroundTruth has been contracted to collect approximately 5,000 soils covering the core areas of interest within the Klondike district property.Soil sample collection is scheduled to begin in June.
Kluane Drilling has been contracted to provide drilling services.This year, the contract includes provision for oriented core drilling, both NTW and HTW core drilling, and other technical drilling services.In conjunction with core drilling, Klondike Gold this year will be using theInnovX X-ray fluorescence (XRF) analyzer provided by Reflex as part of the geotechnical suite of data collected from core.
Work update
Initial fieldwork has been under way since March and has consisted of preparing access routes and drill sites, relogging and additional sampling of older drill holes, reassaying of 2017 drill core from the Lone Star zone, thin-section and whole-rock analyses, and re-examination of drill holes along the Nugget fault.In addition, 2018 fieldwork -- consisting of prospecting, mapping, drone and fixed-wing aerial surveying for orthophotography, and drilling -- is also now under way.
New appointment
The company welcomes Ian Perry, PGeo, to fill the role of vice-president, exploration.Mr. Perry has over 35 years of experience, including the management of the technical and engineering aspects of advanced exploration and development projects, both in Canada and internationally.Mr. Perry has assumed responsibility for directing continuing exploration.
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 the Lone Star gold target at the confluence of Bonanza Creek and Eldorado Creek, within a district-scale 553-square-kilometre property accessible by government-maintained roads located on the outskirts of Dawson City, Yukon, within the Tr'ondek Hwech'in First Nation traditional territory.
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