Inaugural resource for Klondike Gold lode
Explorer eyes larger, high-grade prize in famed gold district North of 60 Mining News – November 11, 2022
Last updated 11/17/2022 at 4:11pm
Klondike Gold Corp. Nov. 10 announced its first resource estimate for deposits on its namesake gold project in the hills above the famed Eldorado and Bonanza placer gold streams near Dawson City, Yukon.
The Lone Star and Stander deposit on the Klondike District Gold Project 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.
"The company is excited to generate the first-ever mineral resource documenting bedrock gold resources in the 125-year history of alluvial gold mining in the famous Klondike goldfields. This milestone is many decades overdue from a historical perspective," said Klondike Gold CEO Peter Tallman.
Both the Lone Star and Stander open pit deposits remain open with mineralization known to extend beyond the current resource model boundaries.
Klondike is particularly interested in the expansion potential of Stander, which is currently the smaller of the two deposits but hosts gold grades that are 35% higher than Lone Star.
Stander currently hosts 2.05 million metric tons of the overall indicated resource averaging 0.99 g/t (65,044 oz) gold; and 304,281 metric tons of inferred resource averaging 1.27 g/t (12,397 oz) gold.
These resources are contained within two pit areas that are about 500 meters apart. The gap between the pit areas and along strike to the northwest and southeast remains open for expansion.
Lone Star also remains open along strike to the northwest and southeast.
While the inaugural resource estimate is an important milestone, Klondike Gold continues to seek a larger and higher-grade prize on its 586-square-kilometer (226 square miles) property that covers orogenic faults along a 55-kilometer length of the famous Klondike Goldfields placer district.
"We have observed previously that our exploration has not yet found the 'best' mineralization and we are confident there are many additional discoveries still to be made in this prolific district," said Tallman.
Earlier this year, the company discovered an outcropping quartz breccia vein associated with abundant visible gold at Gay Gulch, a prospect area alongside Eldorado Creek about 750 meters south of the Stander deposit.
A 2015 hole drilled at Gay Gulch cut 2.8 meters averaging 75.6 g/t gold near where a 34-oz gold nugget was recovered from Eldorado Creek and about 250 meters upstream from where a 72-oz nugget was found.
Klondike completed 11 holes this year targeting the newly discovered Gay Gulch showing with visible gold.
Five of these holes tested for gold-bearing cross structures along 250 meters distance. The company says all five holes intersected cut silicification and breccia veining containing disseminated pyrite along the thrust contact, the first time this type of alteration and mineralization has been documented on the Klondike District property.
"The Gay Gulch discovery of gold-bearing veining associated with pervasive silicification in a series of drill holes is a first, and the direct relationship to a major structure is important in developing a resource model there and for future exploration elsewhere in the district," Tallman said in October.
Assays are pending from the 2022 drilling at Gay Gulch and other targets across the Klondike District Gold Project.
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