Klondike Gold Commences $2M Exploration Program for 2019
3123 – 595 BURRARD STREET
VANCOUVER, B.C. CANADA V7X 1J1
TELEPHONE: 604-609-6110
FAX: 604-609-6145
WWW.KLONDIKEGOLDCORP.COM
Klondike Gold Commences $2M Exploration Program for 2019
May 16, 2019 TSX Venture Exchange Symbol – KG
Vancouver, British Columbia, Canada, May 16, 2019, Klondike Gold Corp. (TSX.V: KG; FRA: LBDP; OTC:
KDKGF) (“Klondike Gold” or the “Company”) has commenced a $2-million 2019 exploration program on
the Company’s wholly owned 563 square kilometer Klondike District Property, Yukon Territory. This year’s
work is focused in two key areas: drilling at the Gay Gulch and Nugget Zones to target prospective areas
of high -grade gold mineralization identified after reviewing data collected from 2018’s program, and
drilling at the Lone Star Zone to expand areas of disseminated gold mineralization. Refer to Figure 1:
Location of 2019 Drill Target Zones and nearby prospects, Klondike District Property.
SUMMARY:
• $2M exploration budget for 2019
• 6,000 meters of HTW -size diamond drilling in approximately 60 drill holes utilizing two drill rigs
commencing in May, with initial results expected in July
• Drilling to target higher grade gold mineralization at Gay Gulch and Nugget Zones
• Drilling to expand zone of disseminated gold at Lone Star Zone
• Collection of 2,000 soil samples at Eldorado and Bonanza Creek to cover prospective trends
• Collection of 350 GT-probe bedrock samples to test extensions of the Lone Star Zone
• LIDAR airborne survey, spanning the 563 km2 to help identify the surface position of potentially
gold mineralized faults
DIAMOND DRILLING:
Approximately 60 drill holes comprising 6,000 meters are planned to target gold mineralization identified
at the Gay Gulch, Nugget, and Lone Star Zones associated with the Eldorado, Nugget, and Bonanza Faults
respectively. Individual drill holes at Gay Gulch and Nugget Zones are planned to test adjacent to gold
intercepts of >20 g/t Au intersected in the 2015 to 2018 drill campaigns in these areas, with drilling at the
Lone Star Zone aimed at expanding the disseminated gold mineralized zone along strike. Drilling is
expected to commence in May and be completed by August utilizing two drill rigs. Assay results from drill
holes are anticipated to be received and released in late July to September.
The drill campaign will recover HTW -size (71 mm diameter) core and systematically use ‘oriented core’
tools. The increased core diameter is expected to improve core recovery, improve sample size and thus
improve estimates of contained gold, and to improve structural understanding by capturing struct ural
measurement data on rock fabrics and gold -bearing quartz vein orientations. Previous drill campaigns
have all recovered smaller NTW -size (56 mm diameter) core and only a portion of 2018 drilling used
oriented core tools ; however, oriented core data h as been extremely useful in refining the exploration
model and providing confidence in the Company’s ability to prospectively target high grade vein hosted
gold mineralization.
SOIL AND GT-PROBE SURVEYS:
The Company plans to collect approximately 2,000 a dditional soils in the Bonanza and Eldorado Creek
areas to cover the prospective trends of the Nugget Fault and Eldorado Fault (including Gay Gulch) among
other targets. The Company has data from more than 20 small overlapping historic soil surveys (mostl y
1980’s data) covering this area in aggregate ; however, the reproducibility of this data has been low and
the reliability poor. The Company anticipates the planned 2019 survey, using modern and consistent
methodology to cover the core area of gold mineralization on the Property, may expand the footprint of
known anomalous areas and may detect new anomalies for follow -up. The survey is scheduled to begin
in June with results available for follow-up by August.
The Company plans to collect approximately 350 bedrock samples testing for the eastern extension of the
Lone Star Zone using the “GT -Probe” deep overburden sampling system. The GT -Probe system most
importantly creates minimal ground disturbance and replaces excavator trenching. The Company
anticipates this survey method may help pinpoint the along-strike extension of gold mineralization, which
would reduce the number of drill holes required. The survey is scheduled to begin in June with results
available by August.
LIDAR SURVEY:
The Company plans to complete a LIDAR (“Light Detection and Ranging”) airborne survey with
orthophotography covering across the Klondike District property. Data obtained is anticipated to refine
the Company’s exploration model and potentially generate new drill targets by id entifying the surface
position of potentially gold -prospective faults among non -mineralized faults. F ollow-up of targets
identified in the Eldorado, Nugget, and Bonanza Fault areas will be conducted during the 2019 season.
The survey is scheduled to begin in May/June with preliminary results available by July and final certified
products by fall 2019.
QUALIFIED PERSONS REVIEW
The technical and scientific information contained within this news release has been reviewed and
approved by Ian Perry, P.Geol., Vice-President Exploration of Klondike Gold Corp. and Qualified Person as
defined by National Instrument 43-101 policy.
ABOUT KLONDIKE GOLD CORP.
Klondike Gold Corp. is a Canadian exploration company with offices in Vancouver, British Columbia, and
Dawson City, Yukon Territory. The Company is focused on exploration and development of the Lone Star
and Nugget gold targets at the confluence of Bonanza and Eldorado Creeks, within a district scale 5 63
square kilometer property accessible by government maintained roads located on the outskirts of Dawson
City, YT within the Tr’ondëk Hwëch’in First Nation traditional territory.
On behalf of KLONDIKE GOLD CORP.
“Peter Tallman”
President and CEO
(604) 609-6110
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.
Disclaimer for Forward-Looking Information
“This press release contains “forward-looking information” and “forward- looking statements” within the meaning of
applicable securities laws. This information and statements address future activities, events, plans, developments and
projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-
looking information. Such forward-looking information and statements are frequently identified by words such as “may,”
“will,” “should,” “anticipate,” “plan,” “expect,” “believe,” “estimate,” “intend” and similar terminology, and reflect
assumptions, estimates, opinions and analysis made by management of Klondike in light of its experience, current
conditions, expectations of future developments and other factors which it believes to be reasonable and relevant.
Forward-looking information and statements involve known and unknown risks and uncertainties that may cause
Klondike’s actual results, performance and achievements to differ materially from those expressed or implied by the
forward-looking information and statements and accordingly, undue reliance should not be placed thereon.
Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing;
fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including
environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and
uncertainties which are more fully described in our annual and quarterly Management’s Discussion and Analysis and
in other filings made by u s with Canadian securities regulatory authorities and available at www.sedar.com. Klondike
disclaims any obligation to update or revise any forward-looking information or statements except as may be required.”
Figure 1: Location of 2019 Drill Target Zones and nearby prospects, Klondike District Property.