More NewsR.H. is not fooling around, seems to want the whole klondike area.
hehehe $$$$$$$.
Klondike Gold to acquire interest in Arn property
2004-07-06 18:01 ET - News Release
Mr. Richard Hughes reports
ARN PROPERTY OPTIONED
Klondike Gold Corp. has entered into an option agreement with Atac Resources Ltd. to acquire an interest in the Arn property. Under terms of the agreement Klondike Gold can earn a 50-per-cent interest by completing $1.5-million in work expenditures on or before Dec. 31, 2006, and making cash payments totalling $200,000 and delivering a total of 500,000 shares on or before June 30, 2009. Klondike Gold can increase its interest to 75 per cent by issuing another 500,000 shares and producing a bankable feasibility study by Dec. 31, 2016.
The Arn property is located six kilometres south of the Alaska Highway in southwestern Yukon. It hosts several skarn zones mineralized with gold and copper. The most prospective target (zone A) is exposed in one small outcrop which was tested down dip by a diamond drill hole in 2002. That hole produced an interval which assayed 11.92 grams per tonne gold over 12.67 metres, including 64.40 g/t over 1.98 m from partially oxidized semi-massive pyrite with minor chalcopyrite.
Diamond drilling is under way to test zone A along strike and down dip from the 2002 intersection. A few holes are also testing zone B, located about 40 m southwest of zone A. Nine holes have been completed to date. Prospecting, trenching and magnetic surveys have also been done in the vicinity of zones K and M about three km west of the drill area. Earlier work at those zones discovered gold and copper mineralization within skarnified and quartz-carbonate altered outcrop and float.