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Klondike Gold cuts 1.67 g/t over 61.7 m at Klondike
2006-01-27 15:04 ET - News Release
Mr. Richard Hughes reports
KLONDIKE PROJECT INTERSECTS 1.67 G/T GOLD OVER 61.7 METRES
Klondike Gold Corp. has received, from its joint venture partner, Klondike Star Mineral Corp., assay results from holes 24 to 27 of an HQ diamond drilling program conducted in 2005 on the Klondike property. Highlights, tabulated below, include 1.03 grams per tonne gold over 57.24 metres in hole 26 and 1.67 g/t gold over 61.74 m in hole 27. Additional assay results will be released as assays are received, verified and compiled. A more complete profile of the Klondike project can be seen on the Klondike Star website.
The 2005 diamond drilling program began at the Lone Star zone, near the open pit of the former producing Lone Star mine. Pairs of holes were drilled spaced 50 m apart, along the length of the Lone Star zone. Holes 26 and 27 were drilled to confirm a 1990 reverse circulation rotary drill hole (hole 90R-18), which encountered substantial mineralization, 1.68 g/t gold over 56.4 m of apparent width. Hole 26 was a twin to vertical hole 90R-18, while hole 27 was drilled at minus 70 degrees to the south-southwest from the same collar. These holes are located on the south-central part of the zone and lie on the same cross-section as previously released drill holes 7 and 8, and holes 24 and 25. Holes 26 and 27 are collared 80 m south-southwest of holes 7 and 8. The results are consistent with the nugget effect style of mineralization common on the property. The Lone Star zone has a minimum strike length defined by drilling of 800 m, open in both directions. Previous drilling conducted in the period between 1986 and 1993 was mostly limited to about 60-metre depth, and was a combination of reverse circulation, percussion and diamond drilling.
Holes 24 and 25 were drilled to the north of the main trend of the Lone Star zone, on the same cross-section and azimuth as previously released drill holes 7 and 8, and collared 65 m to the north-northeast. Highlights from holes 24 and 25, tabulated below, include 4.13 g/t gold over one metre of apparent width and 0.39 g/t gold over 21.0 m of apparent width in hole 24. These results indicate that the Lone Star zone remains open down dip to the north, with a minimum dip length of 165 m on this section. The Lone Star zone has a minimum strike length defined by drilling of 800 m, open in both directions. The holes also confirm that the zone dips gently to the northeast, slightly more steeply than the topographic slope.
Hole locations for the first 27 holes are shown on the company website map of the Lone Star zone. The final five holes were drilled at the Dysle and Veronika zones near Eldorado Creek. The holes reported to date from the Lone Star zone all successfully delineated low-grade mineralization over substantial widths, many of which contain narrower intervals of higher-gold grade. Gold on the property is present as coarse-free gold, with pyrite in disseminations, and locally is associated with narrow discordant quartz veins. The mineralized zones are associated with quartz-carbonate-pyrite alteration and are hosted by felsic metavolcanic schist. The mineralized horizon at Lone Star trends northwest and dips gently to the northeast. Previous drilling conducted in the period between 1986 and 1993 was mostly limited to about 60 m of depth, and was a combination of reverse circulation, percussion and diamond drilling.
Hole From To Interval Au
No. m m m g/t
05-LS-27 4.26 66.00 61.74 1.67
including 12.00 61.00 49.00 2.01
including 12.00 19.00 7.00 2.57
including 38.00 61.00 23.00 3.23
including 38.00 39.00 1.00 13.41
including 54.00 55.00 1.00 22.15
05-LS-26 4.26 61.50 57.24 1.03
including 13.00 57.50 44.50 1.28
including 20.00 32.00 12.00 1.99
including 30.00 31.00 1.00 6.50
including 41.50 50.90 9.40 1.98
including 49.85 50.90 1.05 10.45
05-LS-25 47.00 63.60 16.60 0.15
including 48.00 48.95 0.95 1.02
including 63.00 63.60 0.60 1.25
05-LS-24 10.00 11.00 1.00 4.13
and 85.00 106.00 21.00 0.39
including 95.40 98.00 2.60 1.51
including 105.00 106.00 1.00 1.76
HQ size drill core is delivered to the core shack by the drill contractor, Advanced Drilling Ltd., where the geological staff photographs and logs the core for geological and geotechnical details. The core is then sawn in half lengthwise using a diamond saw, with half core retained for future examination. The half core samples are sealed and shipped via surface freight to Acme Analytical Laboratories Ltd. of Vancouver, B.C., a facility accredited by ISO 9001:2000, where the core is dried, crushed and sampled by analytical procedure 1DX for 36 elements by ICP-MS. Where gold is found to be greater than 100 parts per billion by ICP-MS, the samples are reprocessed using the metallic sieve fire assay procedure on a 500-gram split.
T. Trygve Hoy, PhD, PEng, a consultant to the company, is serving as the company's qualified person for the purposes of the Klondike project. Mr. Hoy has reviewed and approved this news release.
We seek Safe Harbor.