North of 60 Mining News - The mining newspaper for Alaska and Canada's North

Klondike Gold Corp. Oct. 26 reported results from the remaining 15 holes of a 19-hole program at the Lone Star gold property near Dawson City, Yukon Territory.

This work includes the discovery of gold-bearing quartz near Gay Gulch along Eldorado Creek.

Hole EC15-10 encountered a 2.8-meter zone at Gay Gulch that coarse gold up to 2.5 centimeters.

After removing all the coarse visible gold clots from the assay sample, the remaining split interval returned 420 grams per metric ton gold over 0.5 meters, within a 2.8-meter interval averaging 75.6 g/t gold.

Drilling at Gay Gulch encountered quartz veining is related to a prominent (magnetic low) fault that extends for 2,600 meters from Gay Gulch.

The Gay Gulch drilling was done adjacent to where a 34-ounce gold nugget was Eldorado Creek and 250 meters upstream from where a 72-ounce nugget was recovered.

"Drilling encountered spectacular clots of gold in bedrock quartz veining in EC15-10 on a well-defined fault; one of a class of faults we believe is a primary control on gold mineralization in the region.

Not only does the Gay Gulch discovery validate the company's exploration model, it opens up a way to target other gold-bearing quartz veins throughout our extensive property holdings," the company said in a statement.

Drilling at the Nugget, Lower Nugget and Buckland zones encountered some gold and quartz veining but did not return significant gold results.

Author Bio

Shane Lasley, Publisher

Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.

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