Proactiveinvestors USA & Canada Klondike Gold Corp. https://ca.proactiveinvestors.com Proactiveinvestors USA & Canada Klondike Gold Corp. RSS feed en Wed, 17 Jul 2019 04:45:09 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Klondike Gold expecting series of assays from Yukon exploration in coming months ]]> https://ca.proactiveinvestors.com/companies/news/223522/klondike-gold-expecting-series-of-assays-from-yukon-exploration-in-coming-months-223522.html Klondike Gold Corp (CVE:KG) (OTCMKTS:KDKGF) updated on  its US$2 million exploration program at its 576 sq km Klondike District property in the Yukon, where a series of assays are expected over the next few months.

The firm said 47 holes (for 3,500 meters) have been sunk so far from a minimum of 60 holes planned. Logging, geotechnical work, sampling, and assaying are all well underway.

At the Gay Gulch zone on the Eldorado Fault, seven holes were drilled.

READ THE DEEP DIVE: Klondike Gold continues the hunt for high grades in historic gold fields

The Nugget East and Nugget Zones were tested with 36 holes. The new Glacier Gulch zone on the Nugget Fault is being tested with four drill holes and drilling is in progress at this time.

Meanwhile, at the the Lone Star Zone, between 10 and 15 holes are planned, with drilling anticipated to begin in mid-July.

Further drilling to expand known targets or test new areas of interest will be targeted as assay results are received, Klondike added. Drill assays are now expected beginning by late-July and continuing through August and September, it said.

Elsewhere, the firm has contracted GroundTruth Exploration to complete its soil sampling program and its probe surveying. A total of 1,622 soil samples were collected at the Eldorado and Bonanza Creek covering high priority prospective trends.

Submitted for analysis

All samples have been submitted for analysis and complete results are expected in mid-July.

In addition, 66 rock samples were also collected using the overburden penetrating probe systematically sampling bedrock along a 325 meter line length at five meter intervals. The probe tested the continuation of Lone Star Zone gold mineralization at a 450 meter step out to the southeast. Assays are expected in mid-July.

In terms of the airborne LIDAR and orthophoto surveys, a 20 sq km subset high priority area covering the Lone Star, Nugget, and Gay Gulch Zones will be processed first.

LIDAR results from the subset area are expected in late-July and will be used to prioritize drill targets. Results from the entire 576 sq km property surveys are anticipated in September this year, said Klondike.

Shares in Toronto eased 1.56% to $0.315.

Contact the author at giles@proactiveinvestors.com

Follow him  on Twitter@Gile74

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Mon, 08 Jul 2019 10:09:00 -0400 https://ca.proactiveinvestors.com/companies/news/223522/klondike-gold-expecting-series-of-assays-from-yukon-exploration-in-coming-months-223522.html
<![CDATA[Media files - Klondike Gold Corp focusing drilling attention on high grade Nugget Zone ]]> https://ca.proactiveinvestors.com/companies/stocktube/13747/klondike-gold-corp-focusing-drilling-attention-on-high-grade-nugget-zone-13747.html Fri, 14 Jun 2019 09:49:00 -0400 https://ca.proactiveinvestors.com/companies/stocktube/13747/klondike-gold-corp-focusing-drilling-attention-on-high-grade-nugget-zone-13747.html <![CDATA[News - Klondike Gold continues the hunt for high grades in historic gold fields ]]> https://ca.proactiveinvestors.com/companies/news/222093/klondike-gold-continues-the-hunt-for-high-grades-in-historic-gold-fields-222093.html Klondike Gold Corp (CVE:KG) (OTCMKTS:KDKGF) is focused on bringing modern exploration methods to the famous gold fields in the Yukon.

The Company's Klondike district property covers  557 sq km and houses 2,942 claims, from where 20 million ounces of the yellow metal have been recovered from the gravel beds since 1896, yet no underground mine has ever been built.

The so-called Klondike gold rush took place between 1896 and 1899 and saw around 100,000 prospectors migrate to the area.

The group's work has been focused at the Lone Star zone, which lies along the Lone Star ridge, while the group's Yukon properties also include three hardrock projects on the Klondike plateau called the Dominion project, the Gold Run project and the Bonanza project.

Meanwhile, in British Columbia, the Company has a prospective portfolio of gold projects and a large land package which is prospective for  gold and base metals.

Outlook

In May this year, the Company said it had kicked off a US$2 million exploration program on the Klondike District property (it announced it raised C$2.24 million in a placing the same month). Exploration will focus on higher grade targets rather than the low-grade widespread material it had been exploring previously.

The bulk of the work, a 60 hole program, will focus on the Gay Gulch and Nugget zones to confirm high-grades, which was identified as part of last year's drilling season, it said. Results from the former area are expected as early as next month.

Further drilling will also  take place at its Lone Star Zone to expand areas of disseminated gold mineralization. Also planned for 2019 is a LiDAR airborne survey to cover the Klondike District property to potentially refine the Company’s exploration model and potentially create new drill targets.

And so far, things look promising. Klondike, earlier this month, said it had added a second drill rig to focus on a promising area of the Nugget Zone, following up high grades found between 2015 and last year. Previous finds at near-surface include 2.36 g/t of gold over 22.9 metres. Klondike says 30 holes are planned to test this zone.

Yukon a focus for investment

There has been C$1 billion of industry investment in the region (90% in gold) over the last decade and the government  has recently committed C$360 million and is upgrading the 700km of roads there. The Dawson City airport is also getting paved runway to accommodate larger planes.

The area is no stranger to big beast miners either. Goldcorp bought Kaminak Gold and its Coffee deposit for $520 million in 2016. Coffee lies 120km south of Klondike's claims and the acquisition was part of several investments from big gold producers, including Barrick and Newmont. The Kaminak mine is due online by 2021.

What the CEO says

"When we first got into the Klondike, really there had been no known sources of gold identified and historically it had been thought of as always high grade and the Klondike is known for gold nuggets so where are they all?" said CEO Peter Tallman. "So we kind of went nobody's been able to find those, let’s look for something else and got onto this low- grade, disseminated gold over broad widths model."

But then, the boss said, looking geologically around the district for comparisons, the firm identified the Pogo mine, which is along strike and over the border into Alaska, which also has disseminated gold 200m or so below surface, but below that by another 200m lies the high grade quartz Pogo vein.

Tallman said that topographically, Pogo was comparable to Klondike's Lone Star zone, which has low-grade gold sitting at surface but 200m below are high grade quartz veins.

"So we went back, reviewed the data, particularly from last year, and found that we'd actually intersected a bunch of high grade quartz veins."

Now the firm is going back to drill this, he explained.

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Thu, 13 Jun 2019 14:16:00 -0400 https://ca.proactiveinvestors.com/companies/news/222093/klondike-gold-continues-the-hunt-for-high-grades-in-historic-gold-fields-222093.html
<![CDATA[News - Klondike Gold adds second drill rig at Nugget Zone, commences 30-hole program ]]> https://ca.proactiveinvestors.com/companies/news/221805/klondike-gold-adds-second-drill-rig-at-nugget-zone-commences-30-hole-program-221805.html Klondike Gold Corp (CVE:KG) (OTCMKTS:KDKGF) has added a second drill rig to focus on a highly promising zone at the company’s Klondike District Property in Yukon.

The Vancouver-based company said Monday that drilling has begun on the Nugget Zone, where earlier exploration work identified near-surface gold intersections of 2.36 g/t over 22.9 metres. Around thirty drill holes are planned to test the zone as part of a 60-hole, $2 million program.

Drilling recently kicked off at the Gay Gulch Zone on the Yukon property, with results expected as early as July.

READ: Klondike Gold looks to confirm high-grade gold at Gay Gulch as drilling kicks off in Yukon

The Nugget Zone is found on the aptly-named Nugget Fault, where several small mine workings and gold occurrences are present.

Klondike Gold is focused on exploring and developing the asset, a district-scale, 557 square kilometre property at the confluence of Bonanza and Eldorado Creeks.

The final component of the 2019 exploration program will see Klondike completing a LiDAR airborne survey to cover the Klondike District property. The data obtained from the survey will help to refine the company’s exploration model and potentially create new drill targets.

Klondike is anticipating Nugget drilling to be complete around the end of June. Assay results from earliest drill holes are expected to become available by late July.

Shares of Klondike slipped 6.9% on Monday morning in Toronto to C$0.27, and lost 4.1% on OTC markets to US$0.21.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

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Mon, 10 Jun 2019 10:13:00 -0400 https://ca.proactiveinvestors.com/companies/news/221805/klondike-gold-adds-second-drill-rig-at-nugget-zone-commences-30-hole-program-221805.html
<![CDATA[News - Klondike Gold looks to confirm high-grade gold at Gay Gulch as drilling kicks off in Yukon ]]> https://ca.proactiveinvestors.com/companies/news/221062/klondike-gold-looks-to-confirm-high-grade-gold-at-gay-gulch-as-drilling-kicks-off-in-yukon-221062.html Klondike Gold Corp (CVE:KG) (OTCMKTS:KDKGF) announced Tuesday that drilling has begun on the company’s Klondike District property in Yukon, Canada.

This year’s drill campaign will focus on the Gay Gulch Zone of the project to follow up on high-grade gold mineralization discovered on the property in 2015. Seven drill holes will focus solely on Gay Gulch to test the zone.

In total, Vancouver-based Klondike is planning a 60-hole program to test multiple targets, spending C$2 million on its diamond drill campaign.

READ: Klondike Gold kicks off 2019 drill program in Yukon

The seven-hole Gay Gulch drilling program should be completed by early June, with results expected by late July of this year.

Additional drilling will take place at the Lone Star Zone to expand areas of disseminated gold mineralization.

The final component of the 2019 exploration program will see Klondike completing a LiDAR airborne survey to cover the Klondike District property. The data obtained from the survey will help to refine the company’s exploration model and potentially create new drill targets.

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 22.9 metres.

Shares of Klondike fell 4.3% on Tuesday morning in Toronto to C$0.23 and 8.5% on OTC markets to sit at US$0.17.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

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Tue, 28 May 2019 10:28:00 -0400 https://ca.proactiveinvestors.com/companies/news/221062/klondike-gold-looks-to-confirm-high-grade-gold-at-gay-gulch-as-drilling-kicks-off-in-yukon-221062.html
<![CDATA[News - Klondike Gold raises over C$2.24 million to advance its Yukon properties after closing second tranche of financing ]]> https://ca.proactiveinvestors.com/companies/news/220857/klondike-gold-raises-over-c224-million-to-advance-its-yukon-properties-after-closing-second-tranche-of-financing-220857.html Klondike Gold Corp (CVE:KG) (OTCMKTS:KDKGF) said it had raised a total of over C$2.24 million after closing the second tranche of a placing and proceeds will be used to continue exploring at the group's Yukon properties.

In the second tranche, the firm issued 750,000 non-flow-through units at C$0.20 each for gross proceeds of C$150,000.

READ: Klondike Gold kicks off 2019 drill program in Yukon

Each non flow-through unit consists of one share and one warrant exercisable at C$0.35 per share until May 22, 2022.

In total in the financing, more than 7.7 million flow-through units at $0.22 each for  gross proceeds of more than C$1.7 million and 2.66 million non-flow though units at $0.20 each for gross proceeds of C$532,000 were issued in two tranches.

Klondike is focused on developing its Lone Star Gold target at the confluence of Bonanza and Eldorado Creeks, within a district scale 563 sq km property, which is accessible by road and lies on the outskirts of Dawson City, within the Tr'ondëk Hwëch'in First Nation traditional territory.

Contact Giles at giles@proactiveinvestors.com

Follow him on Twitter@Gile74

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Thu, 23 May 2019 07:28:00 -0400 https://ca.proactiveinvestors.com/companies/news/220857/klondike-gold-raises-over-c224-million-to-advance-its-yukon-properties-after-closing-second-tranche-of-financing-220857.html
<![CDATA[Media files - Klondike Gold Prepares for 2-million-dollar exploration program looking for gold ]]> https://ca.proactiveinvestors.com/companies/stocktube/13407/klondike-gold-prepares-for-2-million-dollar-exploration-program-looking-for-gold-13407.html Fri, 17 May 2019 14:22:00 -0400 https://ca.proactiveinvestors.com/companies/stocktube/13407/klondike-gold-prepares-for-2-million-dollar-exploration-program-looking-for-gold-13407.html <![CDATA[News - Klondike Gold kicks off 2019 drill program in Yukon ]]> https://ca.proactiveinvestors.com/companies/news/220440/klondike-gold-kicks-off-2019-drill-program-in-yukon-220440.html Klondike Gold Corp (CVE:KG) (OTCMKTS:KDKGF) announced Thursday that it has begun a $2 million exploration program on the Klondike District property in Yukon, Canada.

The program will comprise of around 60 drill holes for a total of 6,000 metres. The bulk of the work will focus on the Gay Gulch and Nugget zones to confirm high-grade gold mineralization that was identified as part of Klondike’s 2018 drilling season.

Additional drilling will take place at the Lone Star Zone to expand areas of disseminated gold mineralization.

READ: Klondike Gold raises $2.1M in first tranche of private placement

The Vancouver-based company plans to collect 2,000 soil samples at the Eldorado and Bonanza Creek areas in a bid to expand the known areas and find new anomalies for follow-up.

Klondike is also planning to collect around 350 bedrock samples to help pinpoint the strike extension of gold mineralization, thereby reducing the number of further drill holes required in the future.

The final component of the 2019 exploration program will see Klondike completing a LiDAR airborne survey to cover the Klondike District property. The data obtained from the survey will help to refine the company’s exploration model and potentially create new drill targets.

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 22.9 metres.

Klondike shares most recently traded at C$0.22 in Canada and at US$0.16 on OTC markets.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

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Thu, 16 May 2019 09:59:00 -0400 https://ca.proactiveinvestors.com/companies/news/220440/klondike-gold-kicks-off-2019-drill-program-in-yukon-220440.html
<![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