Mining News: Northern Neighbors: Klondike nabs GroundTruth expertise

Klondike Gold Corp. April 30 announced the start of a C$800,000 exploration program targeting gold-bearing quartz veins and newly identified fault structures at the Lone Star and Dominion Properties near Dawson City, Yukon Territory. Klondike has hired Dawson City-based GroundTruth Exploration Ltd. to use aerial drone technology to acquire ultra-high resolution imagery that has been geometrically corrected to produce accurate base maps and digital elevation models over key areas of interest at the Klondike gold properties. GroundTruth will also acquire magnetics data using ground “walking” magnetometer systems, which have high-sensitivity and zero environmental disturbance. Each of these geoscience programs are anticipated to continue through mid-summer. Additionally, Klondike Gold is resampling and mapping of old trenches, which will be followed by final remediation of these sites. The company has budgeted for an initial test of about 1,000 meters of drilling, depending upon exploration results. Klondike Gold has working capital of about C$1.2 million and is fully funded for 2015. Work has also resumed for the season at the McKinnon Creek placer property operated under lease for the second year by Todd Hoffman (Jerusalem Mining LLC). Under the terms of the lease, Klondike Gold receives a 20 percent gross production royalty, which netted the company 202 ounces of gold in 2014.

- Shane Lasley