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Klondike Gold intercepts near-surface gold

Klondike Gold (TSXV: KG) has announced a “significant highlight” from first drilling this year at the Lone Star Zone in its Klondike District property in Canada’s Yukon, hitting 65.05m at 1.4g/t gold from 2.5m.
Klondike Gold intercepts near-surface gold Klondike Gold intercepts near-surface gold Klondike Gold intercepts near-surface gold Klondike Gold intercepts near-surface gold Klondike Gold intercepts near-surface gold

Drilling at the Lone Star Zone

Staff reporter

The intersection was entirely within 45m of surface and also contained 8.45m at 6.07g/t.

The company recognised the potential for gold disseminated in host rock adjacent to quartz veining at Lone Star late in 2016, having previously focused on gold-bearing quartz veins.

Klondike Gold has started a systematic, district-scale exploration programme across the property and announced near-surface gold from core resampling at its Nugget Zone earlier this month. 

It has a minimum budget of C$2.5 million (US$1.9 million) for exploration this year and said it was fully funded through 2019 at a similar level of expenditure.

The company had $6.2 million (US$4.7 million) in working capital at the end of February.

Its shares have ranged between 21.5-60c and closed 1c lower yesterday at 31c.