Or the one that has found it, for that matter.
Peter Tallman,
Klondike Gold (KG-V) President and CEO, explains.
“Going back a year, we have an intercept in a drillhole of effectively a nugget of gold that is about 100 metres away from where the largest nuggets in the Bonanza and Eldorado creeks came from, ever [during the Yukon Gold Rush], and I’m certain this area, structure, is what’s producing all these nuggets historically,” Tallman says in a recent
Q&A withCEO.ca at Roundup 2016. “And I can’t wait to go back there this year and drill it again.”
Go back they will.
Last year Klondike Gold, primarily focused on Yukon exploration, drilled about 19 shallow holes targeting gold-mineralized structures adjacent to rich placer finds on its Lone Star property, about 20 kilometres southeast of Dawson. The drilling program yielded compelling high-grade hits, including up to half-a-metre @ 420 g/t Au in late 2015 exploration.
The drill plan for 2016 is much the same, albeit on more refined targets. Tallman plans another 20 holes targeting shallow gold mineralization just 50-75 metres or so from surface.
It’s about moving the needle through exploration, Tallman says. The odds of not hitting more gold mineralization are low in his view.
“We are finding targets that are worthy of drilling that can produce results,” Tallman says. “Mother Nature is one thing but I think we can have some success.”
Cash should not be a concern. Klondike received more than $500,000 last year from its placer royalty with Todd Hoffman’s Jerusalem Mining of “Gold Rush” reality TV fame. And it raised just over $400,000 in December @ $0.10 with a warrant at $0.15. Tallman says the money should be enough to last for about two years “without much or any dilution.”
That means a strong flow of exploration results in 2016 on a Yukon gold project rich in history — and high-grade gold hits.
Watch the interview with KG CEO Peter Tallman on Youtube
here.
Klondike Gold (KG-V)
Marketcap: $6 million
Cash: ~$1 million
Shareprice: $0.16 (February 8 close)
Disclaimer:
Author is a Klondike Gold shareholder and Pacific Website Company Inc., CEO.CA’s parent, has a business relationship with Klondike Gold, which makes us biased. This interview contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward looking information. Such forward-looking information and statements are frequently identified by words such as “may,” “will,” “should,” “anticipate,” “plan,” “expect,” “believe,” “estimate,” “intend” and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Klondike in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Klondike’s actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon. Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management’s Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Klondike disclaims any obligation to update or revise any forward-looking information or statements except as may be required.”
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