Proactiveinvestors USA & Canada Klondike Gold Corp. https://ca.proactiveinvestors.com Proactiveinvestors USA & Canada Klondike Gold Corp. RSS feed en Tue, 26 Mar 2019 18:29:41 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Klondike Gold raises $2.1M in first tranche of private placement ]]> https://ca.proactiveinvestors.com/companies/news/216760/klondike-gold-raises-21m-in-first-tranche-of-private-placement-216760.html Klondike Gold Corp (CVE:KG) (OTCMKTS:KDKGF), a Canadian exploration company with assets in Yukon Territory, closed a $2.1 million private placement on Monday. 

The company issued approximately 7.8 million flow-through shares at a price of $0.22 and 1.9 million non-flow-through units at $0.20 for gross proceeds totaling about $2.1 million. It anticipates that the second tranche will be completed in the coming weeks, the company said in a statement.

Shares of Klondike jumped 2.4% to close at $0.21 on Monday, and gained 3.5% on the OTC Markets in the US.

READ: Klondike Gold Corp to raise up to C$2.75 million to boost exploration at Yukon projects 

Flow-through shares are a unique financing vehicle for junior mining companies in Canada, giving investors tax incentives for funding resource exploration.

Based in Vancouver, Klondike Gold Corp is focused on exploring and developing its Lone Star Gold project in Yukon, Canada. The asset is a district-scale, 557 square kilometre property at the confluence of Bonanza and Eldorado Creeks.

In addition to the Lode Star zone, Klondike is actively exploring the Nugget zone, where earlier drilling identified near-surface gold intersections of 2.36 g/t over 22.86 metres.

--Contact Angela Harmantas at angela@proactiveinvestors.com

--Follow her on Twitter @AHarmantas

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Tue, 19 Mar 2019 09:00:00 -0400 https://ca.proactiveinvestors.com/companies/news/216760/klondike-gold-raises-21m-in-first-tranche-of-private-placement-216760.html
<![CDATA[Media files - Klondike Gold sharing story with investors at PDAC in Toronto ]]> https://ca.proactiveinvestors.com/companies/stocktube/12468/klondike-gold-sharing-story-with-investors-at-pdac-in-toronto-12468.html Tue, 05 Mar 2019 14:14:00 -0500 https://ca.proactiveinvestors.com/companies/stocktube/12468/klondike-gold-sharing-story-with-investors-at-pdac-in-toronto-12468.html <![CDATA[News - Klondike Gold Corp to raise up to C$2.75 million to boost exploration at Yukon projects ]]> https://ca.proactiveinvestors.com/companies/news/214994/klondike-gold-corp-to-raise-up-to-c275-million-to-boost-exploration-at-yukon-projects-214994.html Klondike Gold Corp (CVE:KG) (OTCMKTS:KDKGF) said Wednesday it is aiming to raise up to C$2.75 million by way of a non-brokered private placement to bolster the company's exploration and development of the company's Yukon projects. 

Klondike is focused on exploring the Lone Star Gold target at the confluence of Bonanza and Eldorado creeks, within a 557 sq/km property located on the outskirts of Dawson City, Yukon within the Tr'ondek Hwech'in First Nation traditional territory. 

The company said the placement will be a mix of flow-through funds and non-flow-through funds. 

READ: Klondike Gold identifies extensive gold soil anomalies at Yukon property

The flow-through placement will consist of the sale of flow-through shares at C$0.22 per unit, consisting of one common share and one share purchase warrant. A flow-through vehicle passes income to investors to avoid double taxation.

The non-flow-through placement will consist of the sale of units at a price of C$0.20 per unit, consisting of one common share and one share purchase warrant.

The company said each warrant will entitle the holder to purchase one common share at a price of C$0.35 per common share for a period of three years from closing and that finder's fees may be paid.

Funds raised will go towards continued exploration and development of the company's Yukon projects and for general working capital

All securities issued under the placement will be subject to a four-month hold period from the date of issue in compliance with applicable securities laws. The placement is subject to final acceptance of the TSX Venture Exchange.

Shares of Klondike Gold were at C$0.19 on Wednesday. 

Contact Katie Lewis at katie@proactiveinvestors.com

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Wed, 20 Feb 2019 17:23:00 -0500 https://ca.proactiveinvestors.com/companies/news/214994/klondike-gold-corp-to-raise-up-to-c275-million-to-boost-exploration-at-yukon-projects-214994.html
<![CDATA[News - Klondike Gold identifies extensive gold soil anomalies at Yukon property ]]> https://ca.proactiveinvestors.com/companies/news/214573/klondike-gold-identifies-extensive-gold-soil-anomalies-at-yukon-property-214573.html Klondike Gold Corp (CVE:KG) (OTCMKTS:KDKGF) said Wednesday results from last year's regional exploration programs across its wholly owned Klondike district property in the Yukon included the identification of extensive gold soil anomalies.

The work included airborne magnetic and radiometric surveying, soil surveying, geological mapping, structural mapping and prospecting.

Klondike is focused on exploring the Lone Star Gold target at the confluence of Bonanza and Eldorado creeks, within the 557-square-kilometer property.

READ: Barrick shares drop after mining giant misses 4Q Wall Street revenue estimate

The Rabbit fault was identified from an airborne survey, and nine significant gold soil anomalies were identified near that fault through the length of the Klondike property.

The nine anomalies range from between 1 kilometer and 4 kilometers in length, and the previously identified gold soil anomaly associated with the Lone Star Zone has been extended by the 2018 survey along strike in both directions to 4 kilometers in length, the company said.

Meanwhile, three distinct gold soil anomalies were identified in the region of Quartz Creek, while five distinct gold soil anomalies are in the Sulphur Creek to Gold Run Creek area.

Lithologic mapping

Klondike also revealed that lithologic mapping had defined the domains of major units and identified individual units such as ultramafics and lamprophyre dykes marking deep crustal faults, which are important elements in an orogenic gold model.

In addition, prospecting has shown numerous historic bedrock workings, visible gold occurrences and gold-bearing rock grab samples throughout the Klondike district, beyond the gold mineralization identified by recent drilling, said the company.

Shares were unchanged at C$0.19 in Toronto and US$0.14 on the OTC Markets.

Contact Giles at giles@proactiveinvestors.com

Follow him on Twitter @Gile74

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Wed, 13 Feb 2019 11:05:00 -0500 https://ca.proactiveinvestors.com/companies/news/214573/klondike-gold-identifies-extensive-gold-soil-anomalies-at-yukon-property-214573.html
<![CDATA[News - Klondike Gold reveals drilling results from Nugget East target in Yukon ]]> https://ca.proactiveinvestors.com/companies/news/213282/klondike-gold-reveals-drilling-results-from-nugget-east-target-in-yukon-213282.html Klondike Gold Corp (CVE:KG) announced Thursday results of drilling at its Klondike district property in the Yukon Territory.

The Vancouver-based miner said in a statement that the final 27 drill holes of its 2018 drill program tested various targets including the Nugget Zone. Klondike said the most significant new near-surface gold intersections come from the Nugget East target.

READ: Klondike Gold says Lone Star zone drilling shows broad intervals of gold mineralization

One hole showed 2.36 grams of gold per ton over 22.86 meters from 9.14 meters downhole, while another showed 2.22 grams of gold per ton over 21.34 meters from 49.68 meters downhole.

These gold intersections, as well as holes from the 2015 drilling program, outline a new gold-mineralized subzone of 115 meters strike length, which remains open and requires follow-up testing, according to Klondike.

Shares of Klondike slipped C$0.01 to C$0.18 in Thursday’s Canadian trading. They were up US$0.01 to US$0.14 on the OTC Markets in the US.

Last month, the company reported that testing at a further nine holes at the Lone Star zone had shown broad intervals of gold mineralization at or near the surface.

Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

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Thu, 24 Jan 2019 10:31:00 -0500 https://ca.proactiveinvestors.com/companies/news/213282/klondike-gold-reveals-drilling-results-from-nugget-east-target-in-yukon-213282.html
<![CDATA[Media files - Klondike Gold drills nine holes on Lone Star Zone of Klondike District Property ]]> https://ca.proactiveinvestors.com/companies/stocktube/11925/klondike-gold-drills-nine-holes-on-lone-star-zone-of-klondike-district-property-11925.html Mon, 21 Jan 2019 13:45:00 -0500 https://ca.proactiveinvestors.com/companies/stocktube/11925/klondike-gold-drills-nine-holes-on-lone-star-zone-of-klondike-district-property-11925.html <![CDATA[News - Klondike Gold awakens glories of Yukon gold rush ]]> https://ca.proactiveinvestors.com/companies/news/211611/klondike-gold-awakens-glories-of-yukon-gold-rush-211611.html It’s not uncommon for explorers to invoke the former glories of their territory, evidence of somewhat primitive mine workings is often deemed a good omen of deeper mineral resources, nevertheless, few exploration stories come with as much historical context as Klondike Gold Corp (CSE:KG) (OTCMKTS:KDKGF).

KGC is seeking out the original sources of the gold rush that made the Klondike region of the Yukon famous.

Initially, the explorer set out to unearth high grade, highly concentrated deposits.

READ: Klondike Gold reports progress in drilling at Lone Star zone of Klondike property in Yukon

Such a discovery has proved somewhat elusive, so far, but, KGC is presently having success finding lower grade but widespread gold mineralization across its property.

CEO Peter Tallman, who got involved around four years ago, told Proactive Investors that until then, there hadn’t really been any success looking for the origin of the alluvial gold in the Klondike.

“We tried to take a new approach to exploration and actually quickly realised that there never had been any systematic surveying across the district,” he explained.

After a number of successful field seasons – largely comprising of preliminary exploration and technical geoscience work – the company is increasingly confident that it has a material project on its hands.

“Basically, four years’ on, we have now done all the preliminary exploration plus all the basic geoscience – acquiring data – to support the concept that there is considerable gold in the bedrock and that there are multiple sources on the property,” Tallman said.

READ: Klondike Gold says Lone Star zone drilling shows broad intervals of gold mineralization

So far, KGC has discovered three such prospects, though it believes there’s potentially more to find.

Of the three prospects, the Lone Star Zone is the company’s focus right now.

KGC is presently working through the results from the 2018 drill programme, which return largely positive findings – low grade gold found across broad widths with high grade pockets of gold mixed in. It now anticipates ramping up its drilling ambitions over the next two years.

The aim is to prove enough gold to define a 2 million ounce deposit which will in turn establish an asset-backed valuation, and, hopefully attract the attention of the world’s largest gold miners – all of which are presently investing in the Yukon.

KGC isn’t the only one investing in the Yukon, far from it

Some US$1 billion has been invested into the region in the past 8 years and the vast majority of the money is targeting gold — four of the world’s five “top” gold producers have operations there — and the local authorities have committed $360 million  to invest in mining infrastructure.

“What we’re aiming to do is produce a resource that’s acceptable to a major — a resource that would be accretive to a major if they were to acquire us,” Tallman said.

“We want to dangle out there that we want to be acquired by one of the many major gold mining companies that are exploring the Yukon right now – basically all of them are there.

“Our neighbors, directly, are Goldcorp. Some of the biggest gold companies in the world are literally driving through our property.”

Goldcorp acquired Kaminak Gold Corp for US$520 million, equating to US$100 per ounce for the project’s 5 million ounces — and the mine is due online by 2021.

Klondike acreage in more detail

The company now holds a substantial portion of the historic mining areas, with 2,943 contiguous claims spanning a 557 square kilometer area. The project is 100% owned by the company.

Most of the company’s drilling to date has hit some amount of gold. Its initial exploration campaign targeted higher grade quartz zones and confirmed two new discoveries, with 14 of 19 holes encountering visible gold.

A year later, a follow up 51-hole program found more gold in quartz zones at both the Nugget and Lone Star Zones, but also identified broad areas without quartz containing disseminated gold. In 2017, a further 70-hole program unearthed more positive gold results targeting the disseminated style gold. The 2018 program comprised 87 drill holes also primarily targeting disseminated gold and the results so far have again been positive.

KGC will be drilling with greater scope over 2019 and 2020, with the maiden resource statement potentially following in 2021.

“Starting in 2019, we have a budget of $2.5 million, which will go to drilling, and that will be for another nine to ten thousand meters. We already have the [money] in hand, so we don’t need to finance that.”

“If the results that we have been getting continue, I would look at the opportunity of trying to bump the $2.5 million up to as much as $5 million for 2019 – that’s a decision that would be made in the Spring, at around April, and that will be contingent upon what the gold market is doing and appetite in the market for financing that.

“At that point, though, will be planning for a major escalation in 2020 so as much as $10 million to $15 million would be invested and that would basically get us 50,000+ meters of core drilling – that presupposes that we have outlined the Nugget target, the Lone Star target plus perhaps another one – though we don’t need more than those.”

Klondike snapshot:

Remainder of 2018 drill results still to come Budget secured for 2019 drilling, but there’s scope to expand In 2020, activity will step up further ahead of a possible resource estimate in 2021

 

--Contact Jamie Ashcroft at Jamie@proactiveinvestors.com

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Fri, 21 Dec 2018 09:55:00 -0500 https://ca.proactiveinvestors.com/companies/news/211611/klondike-gold-awakens-glories-of-yukon-gold-rush-211611.html
<![CDATA[News - Klondike Gold reports progress in drilling at Lone Star zone of Klondike property in Yukon ]]> https://ca.proactiveinvestors.com/companies/news/210890/klondike-gold-reports-progress-in-drilling-at-lone-star-zone-of-klondike-property-in-yukon-210890.html Klondike Gold Corp (CVE:KG) (OTCMKTS:KDKGF) reported on Monday results of drilling for the eastward extension of the Lone Star zone at its wholly-owned Klondike District Property in the Yukon Territory.

The Vancouver-based miner said in a press release that it has encountered significant near-surface gold mineralization within the 600-meter extension to the Lone Star zone, effectively doubling its mineralized drilled length.

READ: Klondike Gold says Lone Star zone drilling shows broad intervals of gold mineralization

Of nine holes, one intersected 0.93 gram of gold per ton over 90.6 meters and another intersected 0.81 gram per ton over 79.7 meters.

These results from sectional drilling continue to show broad intervals of gold mineralization starting at or near surface, as well as the presence of gold mineralization at greater depths, according to Klondike.

Shares traded at C$0.20 in Friday’s Canadian trading and US$0.15 on the OTC Markets.


Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

 

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Mon, 10 Dec 2018 10:01:00 -0500 https://ca.proactiveinvestors.com/companies/news/210890/klondike-gold-reports-progress-in-drilling-at-lone-star-zone-of-klondike-property-in-yukon-210890.html
<![CDATA[Media files - Klondike Gold reveals drilling results at its Yukon Klondike property ]]> https://ca.proactiveinvestors.com/companies/stocktube/11435/klondike-gold-reveals-drilling-results-at-its-yukon-klondike-property-11435.html Tue, 04 Dec 2018 16:19:00 -0500 https://ca.proactiveinvestors.com/companies/stocktube/11435/klondike-gold-reveals-drilling-results-at-its-yukon-klondike-property-11435.html <![CDATA[News - Klondike Gold says Lone Star zone drilling shows broad intervals of gold mineralization ]]> https://ca.proactiveinvestors.com/companies/news/210418/klondike-gold-says-lone-star-zone-drilling-shows-broad-intervals-of-gold-mineralization-210418.html Klondike Gold Corp (CVE:KG) (OTCMKTS:KDKGF) said Monday that testing at a further nine holes at the Lone Star zone of the company’s Kondike property in the Yukon Territory shows broad intervals of gold mineralization at or near the surface.

One hole intersected 1.02 grams per ton of gold over 91 meters starting from near the surface, the company said in a press release. Another hole intersected 0.80 gram per ton of gold over 36.26 meters from 94.5 meters downhole.

READ: Mineworx Technologies gets US patent for gold mining extraction process

To date, results have been received and released from 51 of the 87 drill holes (9.5 kilometers) completed in 2018, according to Klondike.

A final report and lithologic and structural mapping results from across the Klondike district project are due soon.

Once received, the data will be integrated with final results of Klondike’s detailed mapping, as well as the products of district aerial geophysical surveying, soil geochemical surveying and prospecting.

Shares of Klondike gained C$0.02 to C$0.20 in Monday’s Canadian trading. They advanced US$0.01 to US$0.16 on the OTC market.

 

Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

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Mon, 03 Dec 2018 13:23:00 -0500 https://ca.proactiveinvestors.com/companies/news/210418/klondike-gold-says-lone-star-zone-drilling-shows-broad-intervals-of-gold-mineralization-210418.html
<![CDATA[News - Klondike Gold unveils encouraging drill assays from Lone Star Zone target in Yukon ]]> https://ca.proactiveinvestors.com/companies/news/208260/klondike-gold-unveils-encouraging-drill-assays-from-lone-star-zone-target-in-yukon-208260.html Klondike Gold Corp. (CVE:KG, OTC: KDKGF) has reported encouraging assays from a further 12 holes at its Lone Star Zone gold target in its Klondike District property in Yukon.

So far, final assays have been received and released from 42 of the 87 diamond drill holes completed in 2018.

"Exploration continues to affirm multiple local sources of bedrock gold mineralization which explain placer deposits exploited historically within the Klondike District," the firm said in a regulatory statement.

WATCH: Klondike Gold Corp accelerates drill program on their project in Yukon

The 12 holes tested the central portion of the mineralized area and tested behind the main 100-meter wide band of gold mineralization adjacent to the fault.

Results from sectional drilling continue to show broad intervals of gold mineralization starting at or near the surface, as well as the presence of gold mineralization at greater depths.

Highlight drill assays included an interval of 20.20 m (meters), which assayed 0.29 g/t (grams per ton) of the yellow metal.

Another cut 2.35m (meters) at a grade of  2 g/t gold.

The Lone Star Zone is one of five targets, which were tested during this year's exploration program.

Additional results from Lone Star and other targets will be released as they are received, evaluated and incorporated into the evolving exploration model.

Klondike is focused on advancing the Lone Star Gold target at the confluence of Bonanza and Eldorado Creeks, within a district scale 557 square kilometres (sq km) property

Klondike Gold shares shed 5% to $0.19.

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Wed, 31 Oct 2018 11:56:00 -0400 https://ca.proactiveinvestors.com/companies/news/208260/klondike-gold-unveils-encouraging-drill-assays-from-lone-star-zone-target-in-yukon-208260.html
<![CDATA[Media files - Klondike Gold Corp accelerates drill program on their project in Yukon. ]]> https://ca.proactiveinvestors.com/companies/stocktube/10196/klondike-gold-corp-accelerates-drill-program-on-their-project-in-yukon-10196.html Tue, 21 Aug 2018 17:56:00 -0400 https://ca.proactiveinvestors.com/companies/stocktube/10196/klondike-gold-corp-accelerates-drill-program-on-their-project-in-yukon-10196.html