EXPLORATION & DEVELOPMENT

Klondike hits 91m at 1.02g/t gold

Klondike Gold Corp (TSXV: KG) has reported further near-surface gold mineralisation as assays continue to emerge from its 87-hole 2018 drilling programme at its Klondike District property in Canada’s Yukon.

Staff reporter
Further results light up Klondike

Further results light up Klondike

Among the latest results, the junior reported 91m at 1.02g/t gold from 17.7m at the Lone Star zone.

It recently reported near-surface mineralisation from first drilling this year and from core resampling at the property.

Yesterday, Klondike said it was expecting a final report and lithologic and structural mapping results from across the Klondike District Project from SRK Consulting soon, and would integrate the results with the company's exploration work.

The company consolidated its Klondike holdings in August 2016.

It is benefitting from the federal and territorial government's C$360 million roads upgrade announced last year to two mineral-rich areas, saying the Dawson Range project included all the resource access roads within its Klondike District property.

It has about C$3 million (US$2.3 million) cash on hand, according to an October presentation, and expects to spend $2.5 million (US$1.9 million) on exploration in 2019.

Shares in the company hit a 52-week peak of C43.5c in July, just prior to its news that core resampling had shown near-surface gold mineralisation along strike from its Nugget Zone.

Its shares closed up 1.5c yesterday to 20.5c to capitalise it at $19.9 million.

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