Klondike Gold Corp. (TSX: V.KG, Stock Forum) unveiled results Tuesday of exploration work conducted during the summer of 2012 on its Hughes Range property near Cranbrook in southeastern British Columbia.
Hughes Range is one of 13 B.C. properties held by the company. It consists of 32 mineral tenures, covering 5,759 hectares.
Exploration activity this year was focused mainly on a new exploration target, disseminated and fracture-controlled copper mineralization in Fort Steele quartzites. Of 74 exploration rock samples taken in 2012, the highest copper value returned was 0.74% and the highest gold value was 2.5 grams per tonne with 12 of 73 samples running above 0.2 grams gold per tonne.
Recommended further work on the Hughes Range property includes an airborne geophysical survey to more clearly identify regional structural controls, geological mapping and sampling to further define the controls and extent of the copper zone, and finally trenching or diamond drilling.
Klondike was unchanged Tuesday at 6.5 cents, leaving the company with a market cap of $5.7 million, based on 87.6 million shares outstanding. The 52-week range is 24 cents and 5 cents.