EXPLORATION & DEVELOPMENT

Klondike Gold soars on discovery in Yukon

Reports 1m at 1,009g/t gold and 1,035g/t silver

Staff reporter

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It said this result was part of a wider 2.5m at 404g/t gold and 415g/t silver from 104m, 25m below the known Nugget zone mineralisation and remained open.

Other assay highlights included 49.6m grading 1.8g/t gold from surface, intersecting Nugget zone mineralisation.

The Eric Sprott-backed company has a C$2 million (US$1.5 million) exploration programme underway this year at the property in the historical gold-rush district, targeting the Nugget zone, Gay Gulch and Lone Star.

Highlights from drilling at the property last year included 91m at 1.02g/t gold from the Lone Star zone.

Klondike Gold had $2.8 million (US$2.1 million) in working capital at the end of May after raising $2.2 million at 20c per unit and 22c per flow-through unit.

Its shares hit a 52-week high of 43.5c intraday, closing up 9.3% to 41c to capitalise it at about $45 million (US$34 million).

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