Continuation Of High Grade Mineralization At Midas

VANCOUVER - Klondex Mines Ltd. reported results on the Trinity zone surface exploration drill program at its Midas Mine located in northern Nevada, USA. The following drill results are not included in Midas’ current Mineral Resource estimate. Midas Mine Surface Drilling Highlights – Trinity: DMC-00337: 7.83 opt AuEq over 1.5 ft, or 268.36 g/t over 0.5 m; DMC-00350: 0.65 opt AuEq over 6.6 ft, or 22.22 g/t over 2.0 m - Including: 3.14 opt AuEq over 1.1 ft, or 107.58 g/t over 0.3 m; DMC-00338A: 0.51 opt AuEq over 3.8 ft, or 17.39 g/t over 1.2 m - Including: 1.12 opt AuEq over 1.5 ft, or 38.50 g/t over 0.5 m and DMC-00348: 1.04 opt AuEq over 1.5 ft, or 35.71 g/t over 0.5 m.

Ten surface core holes totaling 10,105 ft (3,080 m) were drilled at Trinity during this phase of surface exploration. This program was designed to test the new Trinity structural corridor model and extend mineralization north towards the existing underground workings and planned development.

Most of the production in the Midas district is controlled by east-dipping structures. Historically, drilling at Trinity used the same east-dipping structural model returning inconsistent results. However, a reinterpretation suggested the mineralized structures are actually west-dipping. During this drill program, the company tested the new structural model and it returned positive, consistent results supporting the continuity of high grade mineralization controlled by west-dipping structures in an east-dipping structural corridor. 

Continuous mineralization has been extended north along strike by approximately 600 ft bringing the current known mineralization within 1,500 ft of the existing underground workings. The updated model has proven to be robust in targeting and returning consistent, high grade mineralized intercepts within the structural corridor.

Brian Morris, Senior Vice President, Exploration said, “The success we are having with the new structural model provides an excellent opportunity to extend the Trinity mineralization to the north and south along strike, as well as down dip. The northern extension of the Trinity corridor is open 2,200 ft to the Southern Owyhee fault. Future drill plans will continue to use the new structural model to guide drilling and will focus on further extending mineralization both to the north and south within the Trinity corridor. These exploration results will extend the life of Midas.”

Kwondex has 100% interests in three producing mineral properties: the Fire Creek Mine and the Midas Mine and ore milling facility, both of which are located in the state of Nevada.