EXPLORATION & DEVELOPMENT

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.

Staff reporter
Drilling at the Lone Star Zone

Drilling at the Lone Star Zone

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.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.