Source Filing Services Canada Date 10/15/2015 Time 06:10:23 AM

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Source
Filing Services Canada
Date 10/15/2015
Time 06:10:23 AM
Company
KLONDIKE GOLD CORP.
Title Klondike Gold Reports First 2015 Drill Results; Intersects 5.3 g/t
Au over
7.6m
CDNX Symbol: KG
Press Release
SOURCE: Filing Services Canada
Date: 10/15/2015
Time: 09:10:00
Company: KLONDIKE GOLD CORP.
Title:Klondike Gold Reports First 2015 Drill Results; Intersects 5.3 g/t
Au
over 7.6m (KG - TSXV)
TSXV SYMBOL: KG
NEWS TRANSMITTED BY FILING SERVICES CANADA
FOR: Klondike Gold Corp.
TSXV SYMBOL: KG
Thursday, October 15, 2015 - 9:10 AM
Original Source Location:
http://www.fscwire.com/newsrelease/klondike-gold-reports-first-2015drill-result
s-intersects-53-gt-au-over-76m
Klondike Gold Reports First 2015 Drill Results; Intersects 5.3 g/t Au
over 7.6m
Vancouver, British Columbia (FSCwire) - Klondike Gold Corp. (Klondike
Gold or
the Company) (TSX.V:KG) is pleased to report receipt of assays from the
first
four diamond drill holes of nineteen in total on the Lone Star property
located
on the outskirts of Dawson City, Yukon Territory. Klondike Gold owns a
100%
interest in 1,406 quartz claims and 14 crown grants covering 250 square
kilometers underlying the western half of the Klondike placer goldfields.
Peter Tallman, President of Klondike Gold states The 2015 exploration
drill
program was designed to demonstrate the potential for near surface vein
arrays
to host good gold mineralization over economically interesting widths.
This
strategic model has been substantiated with positive results from all of
the
first four holes reported here, and it opens up the potential for many
further
Klondike lode or hard rock discoveries on our substantial land holdings.
Summary of Initial Four Drill Holes:
EC15-01: 4.6 g Au over 7.65 meters (7.65 meters true thickness) from 3.8m
to
11.45m.
EC15-02: 2.3 g Au over 7.2 meters (5.7 meters true thickness) from 4.4m
to
11.6m.
EC15-03: 5.3 g Au over 7.6 meters (6.1 meters true thickness) from 4.4m
to
12.0m.
EC15-04: 5.7 g Au over 3.0 meters (3.0 meters true thickness) from 21.1m
to
24.1m.
2015 Drilling Summary
2015 exploration drilling tested several zones (Nugget, Lower Nugget, Gay
Gulch, Buckland area) with outcrop or sub-crop quartz veining containing
visible gold. Core logging results show that individual quartz veins with
visible gold can be 0.1 to 1.0 meters in thickness and that zones are
comprised
of several to many related quartz veins (vein arrays) occurring over
widths of
up to ~10 meters true thickness and which exhibit along-strike and downdip
continuity. The volume of quartz veining relative to wallrock, expressed
as %
quartz veining or % QV is an important exploration indicator. Propertyscale
exploration focussed on locating near-surface volumes of gold mineralized
quartz veining, and this objective will continue for 2016.
2015 Nugget Zone Drill Results
The first six holes of the drill program tested the Nugget showing,
following
up surface chip sampling results (see NR August 18, 2015). Holes 1
through 5
all intersected quartz veining with visible gold.
Drill core assays have been received for the entirety of holes 1 to 4
(EC15-01
to EC15-04). Nugget Zone holes 5 and 6 (EC15-05 to EC15-06) are pending.
Summary of Nugget Zone Drilling Assay Results
To view this table, please either click on the link below, or copy and
paste
the link into your browser:
http://www.fscwire.com/newsrelease/klondike-gold-reports-first-2015drill-result
s-intersects-53-gt-au-over-76m
The Nugget Zone was tested from pairs of holes at 50 meter spaced
intervals
along a 100 meter total length. Each drill pad had a -45 and a -85
dipping hole
collared from it. All holes were drilled at 210 azimuth. Along the strike
of
the outcropping Nugget showing, holes 1 and 2 tested the easterly end
(section
450E), holes 3 and 4 tested the middle (section 500E), and holes 5 and 6
tested
the westerly end (section 550E). (A plan map of drill holes plus section
maps
plus assay interval table is located HERE
(http://www.klondikegoldcorp.com/media/photo-gallery/)).
Drilling encountered a previously unknown upper vein array at the bedrock
surface at the start of holes 1 through 4. Holes 5 and 6 collared forward
of
the upper vein array. The target for holes 1 through 6 was the lower vein
array
which is the Nugget vein described in NR Augusts 18, 2015, and which all
six
holes tested.
Individual quartz veins in holes 1 to 4 assay 5 g/t Au up to 40 g/t Au
and most
of the visible gold identified occurs within this group of quartz veins.
The upper vein array expresses between 25% and 40% quartz vein to form
the
array interval. The lower vein array in holes 1 through 4 expresses
between 5%
and 25% quartz vein to form the array interval. Although individual vein
gold
assays in the lower vein array are as high as for the upper veins, so far
there
are fewer veins in the lower vein array to meaningfully carry a weighted
average.
Peter Tallman states Thus far, the 2015 diamond-drilling program has
succeeded
in validating the Companys exploration model for the discovery of new
gold-bearing vein arrays and has vastly improved the Companys technical
understanding of important gold lode-deposit formation characteristics
for the
district. Or, in plain terms: the hunt is on.
Additional updates and results of holes 5 through 19 will be released as
they
are received.
Methodology and Data Treatment
Assay intervals herein report the weighted average gold grade for the
interval
using the quartz vein assays only. Samples logged as wallrock are
assigned a 0
g/t Au grade for values up to 300 ppb Au for the purposes of weighted
averaging. This is a determination based on examination of the plus
versus
minus fractions in the metallic screen assay results. The mineralized
vein
array interval in the -45 dipping holes is approximately the true
thickness.
The true thickness of the mineralized vein array interval in the -85
dipping
holes is approximately 0.8 times the mineralized interval.
Drill Core and Assay Protocols
All drill holes are photographed wet and dry. Magnetic susceptibility,
foliation, and rock quality determination (RQD) measurements are
systematically
collected. All cross-cutting (potentially mineralized) quartz veins and
adjoining alteration envelopes are individually photographed and upper
and
lower contact angles measured. Core logging records lithology, structure,
and
alteration. Visible gold is identified, measured, photographed, and then
excluded from the assay sample for that interval. Assay samples from
drill core
are cut using a diamond saw. Half the core sample interval is bagged,
tagged,
and sealed; the other half is returned to the core box with a
corresponding tag
and retained for reference. Sample bags are aggregated into rice bags,
sealed,
and submitted by Klondike Gold personnel to Bureau Veritas Mineral
Laboratories
(BV Labs) (formerly Acme Labs) preparation facility in Whitehorse, YT
with
chemical analysis of sample pulps completed in Vancouver, British
Columbia.
Bureau Veritas Labs is an accredited ISO 9001:2008 full-service
commercial
laboratory.
At BV Labs each rock sample is crushed to 80% passing 2 mm size. A 500 g
subsample is pulverized to >85% passing -75 microns size (Code PRP70500). The
500 g subsample is then sieved to 106 microns (140 mesh) for metallic
screen
assaying. The plus 140 mesh fraction is then weighed and assayed for gold
by
fire assay (FA) fusion with a gravimetric finish (Code FS631). A 30 g
subsample
of the minus 140 mesh fraction is assayed for gold by fire assay (FA)
fusion
with an atomic absorption (AA) finish (Code FA430). All over-limit
results in
excess of 10 ppm (10 g/t) for both silver and gold are re-assayed using a
30 g
subsample and assayed by FA with a gravimetric finish (Code FA530-Au/Ag).
Total
gold grade is then calculated using a weighted average of the plus and
minus
fraction assay results. Samples were also analyzed for multi-element
chemistry
by ICP-MS analysis (AQ200+U code). Samples over-limit in lead are rerun
by a
high-detection limit ICP-ES procedure (Code MA370). QA/QC includes the
insertion and continual monitoring of numerous standards, blanks, and
duplicates within each batch.
The technical and scientific information contained within this news
release has
been reviewed and approved by Peter Tallman, P.Geo, President of Klondike
Gold
Corp., and Qualified Person as defined by National Instrument 43-101
policy.
ABOUT KLONDIKE GOLD CORP.
Klondike Gold Corp. is a Canadian exploration company with offices in
Vancouver, British Columbia, and Dawson City, Yukon Territory. The
company is
focused on exploration and development of its road accessible Yukon gold
projects located on the outskirts of Dawson City, YT in the historic
Klondike
region covering 25,000 hectares of hard rock and 2,000 hectares of placer
claims including McKinnon Creek leased to Todd Hoffman/Jerusalem Mining
LLC and
featured on the Discovery Channel show Gold Rush.
On behalf of Klondike Gold Corp.
Peter Tallman
President and CEO
(604) 559-4440
E-mail: [email protected] (mailto:[email protected])
Website: www.klondikegoldcorp.com (http://www.klondikegoldcorp.com)
Neither the TSX Venture Exchange nor its Regulation Services Provider (as
that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
This press release contains forward-looking information and forwardlooking
statements within the meaning of applicable securities laws. This
information
and statements address future activities, events, plans, developments and
projections. All statements, other than statements of historical fact,
constitute forward-looking statements or forward looking information.
Such
forward-looking information and statements are frequently identified by
words
such as may, will, should, anticipate, plan, expect, believe, estimate,
intend
and similar terminology, and reflect assumptions, estimates, opinions and
analysis made by management of Klondike in light of its experience,
current
conditions, expectations of future developments and other factors which
it
believes to be reasonable and relevant. Forward-looking information and
statements involve known and unknown risks and uncertainties that may
cause
Klondikes actual results, performance and achievements to differ
materially
from those expressed or implied by the forward-looking information and
statements and accordingly, undue reliance should not be placed thereon.
Risks
and uncertainties that may cause actual results to vary include but are
not
limited to the availability of financing; fluctuations in commodity
prices;
changes to and compliance with applicable laws and regulations, including
environmental laws and obtaining requisite permits; political, economic
and
other risks; as well as other risks and uncertainties which are more
fully
described in our annual and quarterly Managements Discussion and Analysis
and
in other filings made by us with Canadian securities regulatory
authorities and
available at www.sedar.com. Klondike disclaims any obligation to update
or
revise any forward-looking information or statements except as may be
required.
To view this press release as a PDF file, click onto the following link:
http://www.fscwire.com/sites/default/files/news_release_pdf/klondike10152
015.pdf
Source: Klondike Gold Corp. (TSX Venture:KG)
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