Klondike Gold may be near Gold Rush source

The 2024 exploration season marked a transformative year for Klondike Gold Corp. as breakthroughs in geological understanding redefined the historic Klondike District, uncovering new high-grade gold zones and expanding major fault structures across its expansive Yukon property.

Located about 20 kilometers (12 miles) southeast of Dawson City, the Klondike District Gold Project covers 727 square kilometers (280 square miles) of the legendary Yukon goldfields, an area known for producing over 20 million ounces of placer gold since the late 19th-century Gold Rush.

Within the expansive Klondike District property are several promising targets, most notably the Lone Star, Stander, and Gay Gulch zones. Among these, 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.

Klondike Gold Corp.

Klondike District Property extent with location of Stander Zone exploration area (purple outline).

Entering 2024, Klondike Gold's exploration efforts were shaped by ongoing scientific studies conducted in 2023 that aimed to redefine the geological understanding of the property. These academic collaborations unveiled new theories on gold mineralization, including a younger age of formation that aligns with other significant orogenic gold belts.

In addition, the company's exploration benefited from a bio-leach extractable gold (BLEG) survey by Newmont Canada, a subsidiary of mining giant Newmont Corp., independently conducted across the region.

Sampling 292 sites, including 37 within Klondike's property, the survey revealed top-percentile concentrations of gold, silver, tellurium, and other tracer elements throughout the property's strike length.

This crucial data not only validated Klondike's previous research but also confirmed the existence of the Eldorado Fault – a 12-kilometer (7-mile) structural corridor that emerged as a major focus for the year's exploration due to its potential to host high-grade orogenic gold mineralization.

Armed with this new data, Klondike Gold outlined an initial modest program with 2,500 meters of diamond drilling, targeting extensions of known mineralization along the newly defined Eldorado Fault and other promising zones. Early results, however, prompted the company to expand its program to over 5,000 meters, which led to the discovery of new high-grade gold showings – Archy, Wasp and DJ – along this structural corridor.

"Using the new Eldorado Fault structural corridor as an 'aiming' tool has led to three new outcropping discoveries of significant visual gold mineralization along Eldorado Creek," said Klondike Gold President and CEO Peter Tallman.

Surface sampling at these newly identified targets returned high-grade assays, with results of 52.7 g/t gold at Wasp and 46.6 g/t gold at Archy, signaling substantial gold potential within this structural corridor.

Additionally, drilling at DJ intersected multiple quartz veins, confirming mineralization continuity and highlighting deeper targets for further exploration.

In addition to exploration along the Eldorado Fault, Klondike continued to drill at the Stander Zone, targeting extensions of previously defined mineralization. Results from this drilling included intercepts that further confirmed high-grade gold continuity and contributed to resource expansion efforts in this well-established area. Highlights include:

• Four meters averaging 21.5 g/t gold from a depth of 96.5 meters, including one meter averaging 76.07 g/t gold from 99.5 meters in hole EC24-534.

• 27 meters averaging 1.54 g/t gold from a depth of 105 meters, including 1.5 meters of 10.34 g/t gold in hole EC24-526.

• 11.5 meters averaging 0.38 g/t gold from surface in EC24-527.

• Nine meters averaging 4.84 g/t gold from 118 meters, including 0.5 meters averaging 35.44 g/t gold from 124 meters in EC24-541.

Initial drill holes focused on expanding the resource boundaries, while deeper drilling tested for potential new zones of mineralization below the current resource area.

After completing the initial drill program, Klondike launched its second phase at Stander later in the season, targeting both lateral and vertical extensions of mineralization. This phase also extended to nearby Gay Gulch, where drilling tested additional gold-bearing zones identified earlier in 2024.

"Our 2024 drilling and sampling season was highly productive, with quantifiable advancements in discovering additional high-grade gold zones and refining mineralization controls," said Klondike Gold President and CEO Peter Tallman. "Importantly, the new identification and understanding of the Eldorado Fault structural corridor as a locus of gold mineralization is delivering positive exploration successes and outlining substantial drill targets."