Nugget Zone 2018 Diamond Drill Program Accelerated

 

VANCOUVER - Klondike Gold Corp. reported the acceleration of its 2018 diamond drill program at the Company’s wholly owned Klondike District Property, Yukon Territory.  The accelerated drill program seeks to attain a revised 9,000 meters of drilling (~80 holes) in 2018 season with the initial 5,050 meters completed to date.

The first drill remains at the Bonanza Fault area to focus on expansion of the Lone Star gold target. The Lone Star drill program will continue with one drill with the objective of systematically testing sections to outline the geometry, continuity, and extent of disseminated gold mineralization and gold-bearing quartz vein mineralization.  From now, an additional 2,000 meters of drilling are planned this season with this drill.  Drilling is continuing.

The Company has completed mobilization of a second drill which will focus on testing the Nugget Zone.  This follows positive recent results which showed gold mineralization of 1.55 g/t Au over 45.2 meters, including 5.3 g/t Au over 7.6 meters (EC15-03)and 1.0 g/t Au over 51.0 meters (EC15-15) along a 1,400 meter length.

The objective of drilling at the Nugget Zone is to attempt to broadly outline the geometry, continuity, and extent of disseminated gold mineralization and gold-bearing quartz vein mineralization.  A total of 2,000 meters of drilling are planned.  Drilling is underway.

Further, the Company has completed the property-spanning Klondike District regional survey program comprised of airborne geophysical, soil, structural and lithologic mapping, and prospecting components.  Preliminary results of these programs have been received; final results are pending.  Over 500 rocks, 5,000 soils and 6,500 drill core samples have been submitted for analysis with nearly all assays pending.

The Company is re-assessing and further sampling all drill core from 2015 and 2016, following confirmation of disseminated gold in various drill holes in addition to gold-bearing quartz veins which has been the focus of exploration by previous explorers for the prior 120 years.  A total of 43 holes (37 from Nugget, 6 from Gay Gulch) are being relogged, additionally sampled, and assayed representing an approximate total of 2,500 new meters of core being sampled from these holes.  Results from nine holes have been released.