Klondike cuts 689 ppm Pb, 1,297 ppm Zn on 36 Is this good?.... This IS good. isn't it???
Cguy
https://www.stockwatch.com/swnet/newsit/newsit_newsit.aspx?bid=B-577191-C:KG&symbol=KG&news_region=C
Klondike cuts 689 ppm Pb, 1,297 ppm Zn on 36 m on Panda
2006-07-10 18:27 ET - News Release
Mr. Richard Hughes reports
DRILL RESULTS: SULLIVAN TARGET, PANDA BASIN, EAST KOOTENAYS
Klondike Gold Corp. has provided drill results from the Irish 05-01 hole in the Panda subbasin in the Purcell Mountains of southeastern British Columbia. The drill target is a massive sulphide deposit, similar to the $25-billion Sullivan sedex deposit at Kimberley. This hole is one of four completed holes in the central and southern part of the basin that has intersected thick Sullivan horizon sections, sedimentary fragmentals, and anomalous lead and zinc values, all indicative of deposition in a structural basin. These widely spaced holes have been used in an attempt to vector toward a vent centre within the basin and toward the source of the widely distributed sulphides.
In 2005, two holes were completed in the basin. The first, Panda-04-1E, defined a composite Sullivan intersection of 85 metres with a variety of sedimentary facies and mineralization represented by 15 metres containing 129 parts per million (ppm) lead (Pb) and 449 ppm zinc (Zn), and five metres 941 ppm Zn. A second hole was collared about 3.25 kilometres south at the headwaters of Irishman Creek. A comparison of these holes indicated increasing values to the south. As described by D. Anderson (PEng), the project geologist, the Irish 05-01 hole, located farther south and closer to the southwest-trending Moyie fault, intersected a thick (132 metres) and complex assemblage of sedimentary facies at Sullivan time that is cut at depth by a gabbro-granofels intrusion similar to the footwall at the Sullivan mine. The hole was stopped at 1,422.2 metres in the intrusion. The best visible mineralization of galena, sphalerite and pyrrhotite, occurring as disseminations, patches and fracture fillings, was sampled with an interval of 36 metres containing 689 ppm Pb and 1,297 ppm Zn. Included within this interval is 6.0 metres of 1,717 ppm Pb and 2,725 ppm Zn. The highest grade, a one-metre sample ran 0.29 per cent Pb and 0.39 per cent Zn. Similar, but somewhat weaker mineralization occurs within the fragmental below, down to the top of the intrusion.
Irish-05-1 is regarded as the most significant intersection of Sullivan time achieved in this subbasin and one of the best Sullivan horizon intersections, outside the Sullivan basin itself, that has been drilled to date. The greater thickness of Sullivan time, the variety of sedimentary facies and alteration with a footwall fragmental, the presence of base metal sulphide including higher lead values, and a footwall gabbro-granofels intrusive complex indicate this hole is closer to a vent system and a possible lead-zinc-silver deposit.
Future exploration within the Panda basin will continue to the southwest, along the trend of the Moyie fault. This property, referred to as the Indigo, has recently been optioned by Klondike Gold. Exploration in other areas of the Purcell basin is continuing, with a recently completed airborne geophysical survey by Aeroquest Ltd. Results from this survey are pending.
The qualified person as defined in National Policy 43-101 is Dr. Trygve H'y, PEng, PhD, who has read and agreed with the contents of this news release.
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