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Klondike Gold Update on Lone Star Zone in Klondike District Property

Mining News - Published on Tue, 18 Feb 2020

Image Source: Klondike Gold
Klondike Gold Corp has reported exploration results including assays from thirty-six drill holes from the 2019 drill program plus one area of channel sampling testing the Lone Star Zone along the Bonanza Fault on the Company's wholly owned 586 square kilometer Klondike District Property, Yukon Territory. The drill program was designed to test the Bonanza fault for Lone Star style mineralization over an additional 750m of strike length to the SE of the Lone Star zone, in an area of high gold-in-soil values up to 0.8 g/t Au. The program was successful in intersecting broad zones of gold mineralization containing local intervals of high-grade gold. The Company's latest interpretation however suggests the main ‘Lone Star' mineralized horizon has been fault offset slightly south and was untested in 2019 and remains a high priority target for 2020 drilling.

SUMMARY
Recent re-analysis of geophysical data sets covering the Klondike District property indicate the Bonanza Fault can be traced in both VLF-EM, and tilt derivative airborne magnetic survey data. The Bonanza Fault appears as a 7.0 Km magnetic low (fault) associated with gold mineralization traceable across the northwestern end of the property, starting near the confluence between Eldorado and Bonanza Creeks and trending southeasterly through the Lone Star Zone.
Drill results reported here are from along the Bonanza Fault, east of the Lone Star zone.
Overall drill and geologic results support the Company's interpretation that D4 structures are conduits for gold-bearing fluids and that both D4 and D3 structures are potentially gold mineralized exploration targets with a cross-cutting pattern analogous to a checkerboard.
Remaining 2019 drill results from various ancillary targets are pending release.

DRILL RESULT HIGHLIGHTS
The first Lone Star Zone drill hole of 2019, LS19-284 intersected mineralization from surface grading 0.60 g/t Au over 83.0 meters (4.00-87.00m), including 1.91 g/t Au over 16.50 meters (35.0 to 51.5m).
Hole LS19-290, intersected mineralization from surface grading 0.84 g/t Au over 18.50 meters (5.30 to 23.80m).
Hole LS19-300 intersected near-surface mineralization grading 0.69 g/t Au over 31.40m (28.20 to 59.60m), including 1.09 g/t Au over 17.80 meters (28.20 to 46.00m).
Hole LS19-305 intersected near-surface mineralization grading 1.25 g/t Au over 20.50m (51.50m to 72.00m).
The final Lone Star Zone drill hole of 2019, LS19-319 intersected mineralization from near-surface grading 1.45 g/t Au over 20.20 meters (20.80 to 41.00m).

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Posted By : Nishith Sharma on Tue, 18 Feb 2020
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