Mining News: Northern Neighbors: Wide gold zone tapped at Klondike’s Lone Star

Klondike Gold Corp. Nov. 1 reported broad gold intercepts from the first two holes drilled this year at the Lone Star target within its 527-square-kilometer (130,225 acres) Klondike District gold project near Dawson City, Yukon. The first hole at Lone Star, LS16-58, cut 37 meters averaging 2.4 grams per metric ton gold. LS16-59, drilled 40 meters to the east, cut 27.7 meters of 1.2 g/t gold. Klondike said gold at the Lone Star target is interpreted to be associated with a structurally significant thrust fault and documented to occur as locally visible disseminations within altered host rock and as visible gold-bearing quartz vein arrays. Visible gold has been observed in 12 of the 17 holes drilled this year across the 700 meters tested. “Our team’s objective throughout 2016 has been to identify near-surface gold mineralization with interesting thickness, length and grade characteristics. Results from the first two holes at the Lone Star target have exceeded our initial expectations, and we have positive expectations from results of the remaining 15 holes to come,” said Klondike Gold President Peter Tallman.

-Shane Lasley