Klondike grabs history, finds more gold

Klondike Gold Corp. Oct. 31 reported that its 2023 rock sampling has discovered bonanza grade gold mineralization, with associated silver and tellurium at the Dominion target on the company's Klondike District property in the Dawson Mining District in Yukon, Canada.

Located roughly 20 kilometers (12 miles) southeast of Dawson City, the Klondike District Gold Project covers 727 square kilometers (280 square miles) of the famed Yukon gold district.

According to a 2022 calculation, two of its more advanced deposits – Lone Star and Stander – host 21.59 million metric tons of indicated resource averaging 0.68 grams per metric ton (468,901 ounces) gold and 6.46 million metric tons of inferred resource averaging 0.54 g/t (111,959 oz) gold.

Applying results from the recently sponsored independent academic research findings and field visits from orogenic gold experts, work this year mapped regional crustal-scale faults through the property using magnetics, electromagnetics, regional gravity, and lidar surveys combined with field mapping.

With a research model in hand, its own studies allowed Klondike to determine several prospective areas. From the mapping and surveying, multiple areas of orogenic quartz-carbonate gold vein showings received more focused structural mapping and detailed rock sampling.

In total, 245 rock prospecting grab samples were collected from the Dominion, Gold Run, Gay Gulch, and Violet prospect areas, as well as the eastern Stander Zone mineral resource area. Additionally, the company says visible gold was noted in rock samples from all these locations.

The latest results come from the detailed mapping and rock sampling at Dominion, a 3,500- by 1,500-meter target area roughly 20 kilometers (12.5 miles) east of the of the Lone Star and Stander zones.

Assay results for eighty-one rock samples of quartz veins and local host rocks have been received. Approximately half of these samples were of outcrop or subcrop quartz veins visually containing coarse pyrite associated locally with galena and native sulfur.

The seven best samples returned assays between 15.1 g/t gold and 60.7 g/t gold, 10 g/t silver and 684 g/t silver, and 2.5 g/t tellurium and 10.2 g/t tellurium.

A total of 48 samples contained anomalous amounts of above 0.1 g/t gold, anomalous amounts of above 2 g/t silver to a high of 1,080 g/t silver, and anomalous amounts of above 0.2 g/t tellurium.

Aside from sampling, mapping identified three parallel major shear zones-thrusts characterized by the presence of entrained graphite and ultramafic rocks, each traceable in surface outcrops for roughly 2,000 meters.

Klondike says these shear zones are interpreted to control distribution of localized gold-bearing shear veins and related extensional sheeted veins along the 2,000 meters of its strike length examined by mapping.

"Our team has made new gold discoveries in outcrop following implementation of several upgrades to our exploration models including re-characterization of lithologic units and new structural ideas," said Klondike Gold President and CEO Peter Tallman. "It is exciting and energizing to use exploration concepts that work globally in productive orogenic gold belts to re-evaluate drill targets in the Klondike with new prospecting and mapping views and find visible gold in each of them. These targets are distributed over the 50-kilometer strike length of the property which provides a scale of the gold district that Klondike Gold owns and is systematically exploring."

Aside from the surface programs, 2,340 meters of diamond core drilling was carried out in 25 holes. Targeting the Gold Run and Gay Gulch prospects, and similarly, at the Stander Zone mineral resource area, Klondike states that all logging and sampling of the drill core is complete.