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Bonanza gold above Eldorado Creek, Yukon


Last updated 8/16/2019 at 5:06am

High grade gold exploration drilling Klondike area Dawson City Yukon

Klondike Gold Corp.

With the sun rising at 2 a.m. on Summer Solstice, this drill rig reaches its new location at the Nugget zone on the Klondike District project near Dawson City, Yukon.

Klondike Gold Corp. Aug. 6 reported a bonanza grade gold and silver intercept from this summer's drilling at Nugget Zone on the company's 576-square-kilometer (217 square miles) Klondike District property near Dawson City, Yukon.

Lying west of Lone Star and north of Gay Gulch – two other exciting zones on the Klondike property –Nugget Zone is associated with a prominent, 8,000-meter-long magnetic low known as the Nugget fault. A 2,500-meter stretch of this fault hosts gold-bearing veins at Glacier Gulch, Nugget East and Upper Eldorado, as well as several circa-1900 lode mine workings and outcrops.

All these zones lie between the legendary Eldorado and Bonanza Creeks of Klondike Gold Rush fame.

Highlights from Klondike Gold's previous drilling at Nugget include nine meters of 9.5 g/t gold; 14 meters of 5.1 g/t gold; 45.2 meters of 1.55 g/t gold; and 1.5 meters of 31.9 g/t gold.

Drill testing along 200 meters at Nugget zone this year continues to cut gold mineralization and discovered a new parallel zone of high-grade gold.

Drill hole EC19-267 cut 2.5 meters averaging 404 grams per metric ton gold and 415 g/t silver from a depth of 104 meters, including one meter of 1,009 g/t gold with 1,035 g/t silver. Klondike Gold said this new discovery is 25 meters below the known Nugget Zone.

Klondike Gold says the high-grade gold-silver mineralization in EC19-267 is comparable to other occurrences sampled across its Klondike District property in recent years.

Prospecting rock samples collected from an outcrop on the property in 2014 returned grades as high as 1,766 g/t gold and 400 g/t silver. In 2017, grab samples from quartz veins in the O'Neil area contained 24 and 96 g/t gold, with 110 and 149 g/t silver.

Klondike Gold gold exploration map near Dawson City Yukon

Klondike Gold Corp.

Klondike Gold said the gold-silver association may be used as an exploration tool to target the highest gold grades, using the company's evolving structural knowledge from mapping and oriented core measurements.

Other highlights from assay results received so far from 2019 drilling at Nugget Zone include 21.5 meters of 4.3 g/t gold from a depth of 5.9 meters in hole EC19-256, including 10 meters of 8.9 g/t gold; and 49.6 meters of 1.8 g/t gold from 4.6 meters in EC19-266.

The objectives of drilling the Nugget Zone were to target prospective areas of high-grade gold mineralization and to improve structural understanding.



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