Klondike Gold Corp. Intersects 38.1 g/t Gold, 62.5 g/t Silver and 0.99% Copper Over 0.95 Meters in First Hole on Clubine Propert
December 09 2009 - 8:45AM
Marketwired
Klondike Gold Corp. (the "Company") (TSX VENTURE: KG) is pleased to
announce it is has received assay results from the first of nine
holes recently drilled on its 100% wholly owned Clubine property,
located approximately 5 km north of Salmo, British Columbia.
Drilling intersected a prominent, steeply dipping,
north-trending shear zone, characterized by quartz veining,
sulphide mineralization, and locally high gold and silver content.
Assay results from mineralized sections in the first hole are shown
below, with the central part of an approximate 1 meter thick vein
section containing 148 g/tonne gold and 203 g/tonne silver across
0.2 meters and a second lower vein containing 79 g/tonne gold and
110 g/tonne silver across 0.36 meters.
Drill Hole CB09-1: ((i) - ICP-ES)
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Depth: Depth:
Sample From (m) To (m) Width (m) g/tonne Au g/tonne Ag Cu (%)
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981709 54.08 54.24 0.16 2.22(i) 8.5(i) 0.21
----------------------------------------------------------------------
981710 54.24 54.49 0.25 6.92 22.2 0.53
----------------------------------------------------------------------
981711 54.49 54.69 0.20 148.4 203(i) 2.28
----------------------------------------------------------------------
981712 54.69 54.96 0.27 15.45 37.2 0.96
----------------------------------------------------------------------
981713 54.96 55.03 0.07 3.27(i) 26.3(i) 0.79
----------------------------------------------------------------------
981715 56.39 56.75 0.36 79.25 110(i) 1.05
----------------------------------------------------------------------
981717 57.47 57.69 0.22 13.36 30.5 0.76
----------------------------------------------------------------------
Along with the release, an audio interview summarizing the
results with Project Consultant, Trygve Hoy, PhD, P.Eng., has been
prepared. Please click on the following link or cut and paste the
link into your web browser to listen to the interview:
http://www.smartstox.com/interviews/kg/120909/
"We are very encouraged by these drill hole assays from our
Clubine Gold property and look forward to receiving the results of
the remaining eight holes," comments Company President, Richard
Hughes. "Our team is currently assessing expansion of our
exploration program with additional drilling and evaluation of the
condition of historical underground workings. Future drilling and
exploration plans for the property will be reviewed and revised
accordingly, guided by the information gathered from the remaining
holes."
Mineralization on the Clubine property occurs as a number of
quartz and quartz-carbonate precious and base-metal veins in the
upper 500 metres of the Hall Formation and lower part of the Elise
Formation, in the Keystone Mountain area. The old workings are on
five levels, but production is limited with recovery of 123,293 of
gold and 239,463 grams of silver from 3676 tonnes mined. In 1989,
diamond drilling intersected gold-bearing quartz veins and
silicified zones beneath the No. 5 level of the Clubine-Comstock
(082FSW200) occurrence. Gold occurs in the vein quartz and also
within adjacent silicified and pyritic zones. Based on results from
the 1989 work and on previous underground exploration, the Company
is drilling both above and below the Number 5 level for gold zones
down plunge and along strike from known mineralization.
Future exploration will include additional diamond drilling in
order to determine extent and continuity of known gold zones.
The qualified person for the purpose of National Instrument
43-101 is Dr. Trygve Hoy, PhD, P.Eng., who has read and agreed with
the technical information in this news release.
About Klondike Gold Corp
Klondike Gold is a large landholder in southeastern British
Columbia as well as in the Klondike District of Yukon Territory, an
area which produced between six and twelve million ounces of gold
during its historic gold rush. The Company also holds a 50%
interest with partner Chalice Diamond Corp in approximately 78,000
acres of diamond properties located in the Chapleau-Wawa region of
Ontario and a number of properties in southeastern British
Columbia.
Please visit the Company's website: www.klondikegoldcorp.com for
more information on the diamond properties in Ontario, our holdings
in the Klondike and our properties in southeastern BC.
The statements made in this Press Release may contain
forward-looking statements that may involve a number of risks and
uncertainties. Actual events or results could differ materially
from the Company's expectations and projections.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this news release.
Contacts: Hughes Exploration Group Alan Campbell or Kevin Hull
Investor Relations (604) 685-2222 info@klondikegoldcorp.com
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