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Klondike Gold Corp.

Klondike Gold kicks off 2019 drill program in Yukon

The junior gold explorer has started a $2 million exploration program consisting of nearly 6,000 metres of drilling to confirm the presence of high-grade gold

eldorado creek
Drill core boxes at Eldorado Creek camp

Klondike Gold Corp (CVE:KG) (OTCMKTS:KDKGF) announced Thursday that it has begun a $2 million exploration program on the Klondike District property in Yukon, Canada.

The program will comprise of around 60 drill holes for a total of 6,000 metres. The bulk of the work will focus on the Gay Gulch and Nugget zones to confirm high-grade gold mineralization that was identified as part of Klondike’s 2018 drilling season.

Additional drilling will take place at the Lone Star Zone to expand areas of disseminated gold mineralization.

READ: Klondike Gold raises $2.1M in first tranche of private placement

The Vancouver-based company plans to collect 2,000 soil samples at the Eldorado and Bonanza Creek areas in a bid to expand the known areas and find new anomalies for follow-up.

Klondike is also planning to collect around 350 bedrock samples to help pinpoint the strike extension of gold mineralization, thereby reducing the number of further drill holes required in the future.

The final component of the 2019 exploration program will see Klondike completing a LiDAR airborne survey to cover the Klondike District property. The data obtained from the survey will help to refine the company’s exploration model and potentially create new drill targets.

Klondike Gold Corp is focused on exploring and developing its Lone Star Gold project in Yukon, Canada. The asset is a district-scale, 557 square kilometre property at the confluence of Bonanza and Eldorado Creeks.

In addition to the Lode Star zone, Klondike is actively exploring the Nugget zone, where earlier drilling identified near-surface gold intersections of 2.36 g/t over 22.9 metres.

Klondike shares most recently traded at C$0.22 in Canada and at US$0.16 on OTC markets.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Quick facts: Klondike Gold Corp.

Price: $0.38

Market: TSX-V
Market Cap: $41.32 m
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