NEWS More DrillingKlondike continues drilling in East Kootenays
2004-07-08 15:46 ET - News Release
Mr. Richard Hughes reports
DRILLING UPDATE: EAST KOOTENAYS
Klondike Gold Corp. began drilling in early June in the East Kootenays for Sullivan-type massive sulphide targets in the Purcell supergroup. A drill hole has just been completed near the southern end of the Fran-Davent basin just north of Moyie Lake. This hole is a followup of a 2003 hole drilled in the Fran area that intersected several metres of minor laminated to disseminated sphalerite-pyrrhotite mineralization along the Sullivan horizon near the lower-middle Aldridge stratigraphic contact. The 2004 hole intersected a thickened Sullivan horizon, indicative of deposition in a structural basin, but again only minor disseminated pyrrhotite and sphalerite. Samples of the mineralized Sullivan horizon will be submitted for analyses and the area, then re-evaluated.
Currently, the drill rig is being moved to a target area just north of the Panda basin. The first of several planned holes will be collared south of L80-1, a hole which was extended last fall to the Sullivan horizon and intersected a thick (43-metre) basinal facies, with one-metre intervals containing up to 1,140 parts per million zinc and 250 parts per million lead. A second hole is planned at the south end of the Panda basin, just north of the Moyie fault, in an area with numerous sulphide indicators including a drill intercept with several metres of stratabound (possible vein) massive sulphide mineralization (Kennecott/Sedex Mining, 1997).
Drilling in the western part of the Payday North basin, located approximately six kilometres northwest of the Panda basin, will begin late in July. Past drilling (1997, 2002 and 2003) farther east confirmed the presence of a structural basin here with one hole intersecting anomalous lead and zinc at Sullivan time. The current drill program will target an area three kilometres to four kilometres farther west, near the intersection of prominent linears, which may represent structural intersections within the basin.
On completion of exploratory holes in the Upper Moyie area, drilling will move into the St. Mary Lake area west of the Sullivan deposit. This work will be concentrated in two main areas, the Ash/Pitt and Clair areas. The Ash/Pitt area is at the inferred southern extension of the Sullivan-North Star, where 2003 drilling located laminated sulphide mineralization. Surface exposures in the Clair area farther west show the presence of a coarse fragmental unit at Sullivan time, indicative of growth faulting along a basin margin. An attempt to intersect the horizon in an inferred basin farther west, by extending a 1998 drill hole, was aborted early this year due poor ground conditions. A new site will be located west of the 1998/2004 drill hole.
The 2004 drill program for Sullivan-type massive sulphide will target several structural basins within the Purcell supergroup. Anomalous sulphide concentrations and thickened stratigraphic sections in several of these basins are comparable with distal mineralization in massive sulphide sedex deposits. Other areas represent targets in untested structural basins. Exploration is being conducted under the supervision of Trygve Hy, PhD, PEng, who is the qualified person for the purposes of National Instrument 43-101.
https://www.stockwatch.com/swnet/newsit/newsit_newsit.aspx?bid=B-362011-C:KG&symbol=KG&news_region=C&name=Klondike+Gold+Corp&title=Klondike+continues+drilling+in+East+Kootenays