Klondike Gold 2023 Exploration Underway
Klondike Gold 2023 Exploration Underway
Vancouver, British Columbia, Canada – June 19, 2023 - Klondike Gold Corp. (TSX.V: KG; FRA:
LBDP; OTCQB: KDKGF) (“Klondike Gold” or the “Company”) is pleased to provide an update on
current exploration/development activities and 2023 objectives at the Klondike District Property
(the “Property”) spanning 729 square kilometers located in the Dawson mining district, Yukon,
Canada.
SUMMARY
• Highly favorable results from academic research programs initiated in 2022 have:
o supported a younger age to the gold mineralizing event (~coincident with Mother
Lode District, California);
o constrained the age of mineralizing structures;
o documented association of gold with tellurides and silver sulfosalts;
o detected mappable hydrothermal alteration associated with gold mineralization
for the first time;
o suggested SWIR (“ short wave infrared) imaging may be practical as an ‘instant
analysis’ tool to detect gold-bearing alteration.
• Prospecting, mapping, and rock sampling programs are targeting known and new areas
throughout the Property using geochemical and structural criteria derived from this new
research. Results will rank targets for diamond drilling.
• Diamond drilling ~2,000 meters allocated for newly generated targets is planned to begin
in July. Contingent targets considered include follow-up of Gold Run drill hole GR18-162,
which assayed 1.23 g/t Au over 13.5 meters1 and further testing of Stander Zone mineral
resources2 and Gay Gulch Showing mineralization.
Peter Tallman, Klondike Gold’s President & CEO states, “Research has constrained the age of the
Klondike District’s bedrock mineralization and geochemical/structural environment from which
the famous 20M oz historical gold placer endowment was derived. T hese results have
considerable beneficial implications for the Company’s 100% owned Klondike District Property
and immediately focus the Company’s exploration efforts towards targeting new drill discoveries.
Management maintains its view the Klondike District Property has exceptional o verlooked
potential for discovery of multiple gold deposits.”
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The 2023 exploration program is influenced by new science studies (involving University of
Ottawa, University of Toronto, Dalhousie University, and Colorado School of Mines / CASERM)
including three recently concluded HBSc theses and ongoing MSc, PhD, and Colorado School of
Mines research efforts.
From these efforts, g raphitic thrusts within the Klondike District have peak metamorphic
temperatures at c.450 oC interpreted to represent pre -mineralization structures . Gold
mineralization temperatures based upon fluid inclusions are c.250-300oC thus retrograde
following peak metamorphism (i.e. younger). Gold in SEM (scanning electron microprobe) and
thin section work has association with telluride , silver sulfosalts and barium. Zones of specific
micaceous minerals surrounding high gold-bearing quartz vein intersections potentially indicate
an alteration halo useful to vector toward higher gold grades.
Applying these findings, prospecting and mapping surveys are already underway targeting fault
structures interpreted from LIDAR with silver-tellurium-gold anomalous soils and rocks in areas
of reported cross-cutting gold-bearing veins. Gold hosted in late cross-cutting sheeted veins hosts
the mineralization contained in the Company’s initial 2022 mineral resource estimate at the Lone
Star and Stander Deposits.
An initial drill program of 2,000 meters testing prospective mineralization is planned to begin in
July. Allocation of drill meterage to new prospective targets, expansion of Stander and Lone Star
Deposit mineral resources, and testing Gay Gulch mineralization are subject to revision as results
progress throughout the season.
UPCOMING EVENTS
Klondike Gold will be participating in the following recent or upcoming events:
Site Visit (Dawson, YT) – July 5 to 10, 2023
YMA Mining Investment Conference (Dawson, YT) – July 18 to 19, 2023
CEM (Kelowna, BC) – July 21 to 23, 2023
All events are subject to change.
QUALIFIED PERSON
The technical and scientific information contained within this news release has been reviewed
and approved by Peter Tallman, P.Geo., President and CEO of Klondike Gold and Qualified Person
as defined by NI 43 -101 policy. Detailed technical information, specifications, analytical
information and procedures can be found on the Company’s website.
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ABOUT KLONDIKE GOLD CORP.
Klondike Gold is a Vancouver based gold exploration company advancing its 100% -owned
Klondike District Gold Project located at Dawson City, Yukon, one of the top mining jurisdictions
in the world. The Klondike District Gold Project targets gold associated with district scale
orogenic faults along the 55 -kilometer length of the famous Klondike Goldfields placer
district. Multi-kilometer gold mineralization has been identified at both the Lone Star Zone and
Stander Zone, among other targets. The Company has identified an Initial Miner al Resource of
469,000 Indicated and 112,000 Inferred gold ounces 1, a milestone first for the Klondike District.
The Company is focused on exploration and development of its 72 9 square kilometer property
accessible by scheduled airline and government -maintained roads located on the outskirts of
Dawson City, Yukon, within the Tr’ondëk Hwëch’in First Nation traditional territory.
1 Refer to news release of October 4, 2018.
2 The Initial Mineral Resource Estimate for the Klondike District Property was prepared by Marc
Jutras, P.Eng., M.A.Sc., Principal, Ginto Consulting Inc., an independent Qualified Person in
accordance with the requirements of NI 43 -101. The technical report supporting the Mineral
Resource Estimate entitled “NI 43- 101 Technical Report on the Klondike District Gold Project,
Yukon Territory, Canada” has been filed on SEDAR at www.sedar.com effective November 10,
2022. Refer to news release of December 16, 2022.
ON BEHALF OF KLONDIKE GOLD CORP.
“Peter Tallman”
Peter Tallman,
President and CEO
FOR FURTHER INFORMATION:
Telephone: (604) 609-6138
E-mail: [email protected]
Website: www.klondikegoldcorp.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Certain statements contained in this news release constitute "forward -looking statements".
When used in this document, the words "anticipated", "expect", "estimated", "forecast",
"planned", and similar expressions are intended to identify forward- looking statements or
information. These statements are based on current expectations of management, however, they
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are subject to known and unknown risks, uncertainties and other factors that may cause actual
results to differ materially from the forward-looking statements in this news release. Readers are
cautioned not to place undue reliance on these statements. Klondike Gold does not undertake any
obligation to revise or update any forward- looking statements as a result of new information,
future events or otherwise after the date hereof, except as required by securities laws.