Klondike Gold Corp. (TSX.V: KG; FRA: LBDP; OTCQB: KDKGF) (“Klondike Gold” or the “Company”) is pleased to announce eight drill hole results testing the Stander Zone within the Company’s 100% owned 727 km2 Klondike District Property (the “Property”) in the Dawson mining district, Yukon, Canada. (see Figure 1).
In 2024 the Company conducted a resource expansion and discovery drill program targeting Stander Zone gold mineralization as outlined in the Company’s November 10, 2022 Mineral Resource Estimate (“MRE”)1. A total of 26 holes for 4,160.52m were completed in this overall program divided into phases targeting specific Stander Zone subareas.
Eight core holes reported here (EC24-521 to EC24-525, EC24-536, EC24-537, and EC24-542) tested for northeasterly or for downdip extensions to gold mineralization relative to the 2022 Stander Zone MRE extents.
Highlights Summary
- EC24-523 intersected 39.52 g/t Au (1.27 opt Au) over 1.0m from 102.5m, the deepest hole on section, down dip and beneath the Stander Zone MRE.
- EC24-537 intersected 25.81 g/t Au (0.83 opt Au) over 1.0m from 94.5m, the deepest hole on section, down dip and beneath the Stander Zone MRE.
- EC24-542 intersected 0.73 g/t Au over 7.0m from 4.0m, a near surface new discovery of a quartz vein zone with potential extent open to the northeast.
- All holes had multiple gold-bearing quartz vein zones confirming the presence of stacked, repeated mineralization consistent with orogenic mineralization models.
- Mineralization intersected in these drill holes to remain open to depth and across strike.
- Additional drill results are pending.
Peter Tallman, Klondike Gold’s President & CEO states; “The Stander Zone mineral resource estimate published in 2022 was based on drilling between 2017 to 2021. We are excited to share the initial drill results from our 2024 program in the Stander Zone which demonstrates the potential to expand the existing gold resource. The Stander Zone mineral resource estimate, published in 2022, was based on drilling between 2017 to 2021. Since then, we’ve learned a lot about the nature, orientation and extent of the Klondike Districts’ orogenic gold system. These findings and continuing drill successes reinforce our confidence in the area and highlight our commitment to unlock the evident potential value for our shareholders.”
The Company today is reporting results from eight core holes (EC24-521 to EC24-525, EC24-536, EC24-537, and EC24-542) testing within and beneath the Stander MRE pit extents area for adjacent gold mineralization. Summary results are shown in Table 1 and drill hole collar locations are shown in Figure 1.
Table 1: Summary of Significant Gold Intervals at Stander Zone
| Hole ID | From (m) | To (m) | Interval (m) | Au (g/t) |
| EC24-521 | 19.5 | 21.5 | 2.0 | 0.83 |
| And | 45.5 | 49.0 | 3.5 | 1.06 |
| EC24-522 | 17.4 | 19.0 | 1.6 | 3.66 |
| And | 63.0 | 71.0 | 8.0 | 0.42 |
| EC24-523 | 102.5 | 103.5 | 1.0 | 39.52 |
| EC24-524 | 7.5 | 14.2 | 6.7 | 1.46 |
| EC24-525 | 16.6 | 21.5 | 4.9 | 0.60 |
| And | 49.1 | 59.0 | 9.9 | 0.42 |
| EC24-536 | 39.0 | 40.0 | 1.0 | 1.02 |
| And | 155.5 | 156.5 | 1.0 | 0.46 |
| EC24-537 | 94.5 | 95.5 | 1.0 | 25.81 |
| And | 121.5 | 128.5 | 7.0 | 1.34 |
| EC24-542 | 4.0 | 15.0 | 11.0 | 0.73 |
| And | 80.0 | 81.0 | 1.0 | 1.94 |
The intersection lengths are estimated true widths (“ETW”)2. These 2024 results are not included in the Company’s November 10, 2022 Stander Zone mineral resource estimate (“MRE”)1. based upon 40 initial holes completed from 2015 through 2021 using a gold price of $1,700 USD and a 0.2 g/t Au cut-off.
Figure 1: 2024 Stander Zone program drill hole location map with 2022 MRE pit outline for reference.
Discussion
Stander Zone was originally characterized as a sheeted extensional quartz vein zone containing gold following discovery in 2015. New understanding and deeper drilling in 2024 has demonstrated multiple stacked ‘quartz vein zones’ with along-strike and 35o dip continuity, reflected in the multiple gold intervals in each hole in the assay summary Table 1.
High grade gold drill intersections and surface grab samples have recently been discovered with important implications for ongoing exploration. The high-grade gold intervals in EC24-523 (39.52 g/t Au over 1.0m) and EC24-537 (25.81 g/t Au over 1.0m) occur within a ‘quartz breccia zone’ distinct from the sheeted extensional vein style. The quartz breccia zone is provisionally interpreted to be continuous with at-surface high grade gold prospecting rock samples with visible gold assaying 41.2 g/t Au (1.36 opt Au), 30.3 g/t Au (1.17 opt Au), and 24.9 g/t Au (0.77 opt Au) (see NR June 18, 2024) and also four 2023 drill hole intersections:
- EC23-508 contained 2 VG between 21.3m to 21.4m, (90.55 g/t Au over 0.55m)
- EC23-510 contained 4 VG between 89.7m to 95.0m, (38.15 g/t Au over 0.50m)
- EC23-511 contained 2 VG at 49.9m, (39.59 g/t Au over 0.52m)
- EC23-514 contained 1 VG at 100.2m, (30.30 g/t Au over 0.50m)
(see NR 15 January 2024)
Figure 2: Location of Stander Zone MRE area and other significant nearby gold showings along the Eldorado Fault.
The overall objectives of 2024 Klondike District Property drill testing at Stander Zone include:
- Diamond drilling to test for expansion of the Stander Zone mineral resource area, and specifically to follow up high grade (>1 opt Au) gold drill intersections from late 2023;
- Diamond drilling to test for expansion of extents of Gay Gulch Showing gold mineralization;
- Prospecting and drill testing for repeated stacked gold-bearing quartz vein zones predicted by orogenic gold deposit models, targeting potential for deeper gold mineralization.
Figure 3: Klondike District Property extent with location of Stander Zone exploration area (purple outline) near Dawson.
QUALIFIED PERSON
The technical and scientific information contained within this news release has been reviewed and approved by Peter Tallman, P.Geo., President and CEO of Klondike Gold and Qualified Person as defined by NI 43-101 policy. Detailed technical information, specifications, analytical information and procedures can be found on the Company’s website.
ABOUT KLONDIKE GOLD CORP.
Klondike Gold is a Vancouver based gold exploration company advancing its 100%-owned Klondike District Gold Project located at Dawson City, Yukon, one of the top mining jurisdictions in the world. The Klondike District Gold Project targets gold associated with district scale orogenic faults along the 55-kilometer length of the famous Klondike Goldfields placer district. Multi-kilometer gold mineralization has been identified at both the Lone Star Zone and Stander Zone, among other targets. The Company has identified a Mineral Resource Estimate of 469,000 Indicated and 112,000 Inferred gold ounces, a milestone first for the Klondike District. The Stander Zone (“MRE”) was published November 10, 2022 based upon 40 initial holes completed from 2015 through 2021 using a gold price of $1,700 USD and a 0.2 g/t Au cut-off.
The Company is focused on exploration and development of its 727 square kilometer property accessible by scheduled airline and government-maintained roads located on the outskirts of Dawson City, Yukon, within the Tr’ondëk Hwëch’in First Nation traditional territory.
ON BEHALF OF KLONDIKE GOLD CORP.
“Peter Tallman”
Peter Tallman,
President and CEO
FOR FURTHER INFORMATION:
Telephone: (604) 609-6138
E-mail: info@klondikegoldcorp.com
Website: www.klondikegoldcorp.com
