Klondike Gold Corp. update 2022 exploration activities at the Klondike District Gold Project, located in the Dawson Mining District, Yukon, Canada.
In 2022 Klondike Gold completed approximately 6,000 meters of drilling in a total of 47 drill holes of which 35 holes explored areas adjacent known mineralization at the Gay Gulch showing (11 holes) and Stander Zone (24 holes) with the remainder (12 holes) testing new regional targets. Mapping discoveries of gold-bearing quartz breccia veining in outcrop at Gay Gulch and positive identification of three deep crustal thrust faults in proximity to known gold occurrences (such as Lone Star Zone) continue to provide evidence the Klondike District area is highly prospective for significant orogenic gold deposits. Exploration continues to affirm multiple local sources of bedrock gold mineralization which explain placer deposits exploited historically within the Klondike District. A discovery at Gay Gulch Showing was made midway in the season of outcropping quartz breccia vein associated with abundant visible gold along a graphitic thrust fault associated with pervasive silicification. The veining and silicification is interpreted to be a hallmark ‘seismic pumping conduit' in orogenic gold deposit models, supplying gold-bearing fluids by ‘pumping' to create the prevalent gold-bearing sheeted quartz veins. The breccia veining and associated silicification is oriented perpendicular to the gold-bearing sheeted quartz veins, a prediction of orogenic gold deposit models and now the first time this has been documented in the Klondike. All previous historic drilling has been parallel to this direction and this style of mineralization. Eleven drill holes were completed targeting the Gay Gulch gold showing (EC22-467 to EC22-477). Six holes tested for ‘typical' gold-bearing sheeted quartz veins along 450 meters of strike length. Five drill holes were turned 90 degrees (orthogonally) to test for gold-bearing cross structures along 250 meters distance. All five orthogonal holes intersected intervals of silicification and breccia veining containing disseminated pyrite along the thrust contact, the first time this type of alteration/mineralization has been documented. All assays of outcrop and drill core are pending. Twenty four drill holes were completed at the Stander Zone (EC22-447 to EC22-464 plus EC22-480 to EC22-485). Eighteen holes targeted potential extensions to gold mineralization contained in sheeted quartz veins along 1,500 meters of strike length. These holes are intended to infill a 1,000 meter data gap in Stander Zone mineralization model. At the main Stander Zone showing outcrop area, six drill holes were turned 90 degrees (orthogonally) to test for gold-bearing cross structures along a 280 meter distance. All assays are pending. A significant program of mapping and compilation throughout the property was undertaken to constrain structures associated with gold mineralization and upgrade confidence in the ground location of important geophysical features. This effort resulted in a four-fold increase in the number of mapping points in the outcrop database from 2,500 mapping points in 2021 to over 10,000 points at the end of the 2022 program. This information will be incorporated into a forthcoming updated geology technical report and is providing the basis for generating prospective drill targets. Independent estimation of an initial bedrock mineral resource is expected shortly, prospectively the first ever in the 125-year history of the Klondike District area since the 1896 ‘gold rush' discovery of the Klondike placer goldfields. This major milestone is expected to demonstrate the potential of the Klondike District to host in situ bedrock gold deposits of size. The mineral resource will include drill results to the end of 2021 from discoveries at Lone Star Zone (2016-2021) plus two small subareas within the Stander Zone (2015-2021). Drill sample assaying from 47 holes completed in 2022 is in progress. The Company has streamlined the preparation and assaying procedure in order to receive fire assay results sooner. Initial drill assay results are expected beginning before year end 2022.