Mining News: Klondike eyes million-ounce gold discovery

Klondike Gold Corp. April 19 said it plans to invest C$2 million on the 2017 exploration program for its Klondike district property near Dawson City, Yukon. This work will primarily focus on Lone Star, a 4,000-meter-long target that shows the potential for a million-ounce gold discovery. The program will include extensive high resolution 3D imaging of electrical resistivity and induced polarization geophysics to map the geology and subsurface continuity of Lone Star and a large drill program designed to outline the potential of this gold target. Klondike tested a 700-meter stretch of Lone Star with drilling carried out in 2016. Highlights from this drilling include 37 meters of 2.4 grams per metric ton gold in hole LS 16-58; 11.3 meters of 3.5 g/t gold in LS 16-70; and 24.5 meters of 1.5 g/t gold in LS 16-54. The 2017 drilling will start by testing near hole 58. In addition to work at Lone Star, the company plans to complete a larger soil-sampling program spanning the entire Klondike property.

–SHANE LASLEY