Klondike Gold Samples up to 74.6 g/t Au (2.40 opt Au) at Gold Run Target
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November 8, 2023
Vancouver, BC
Klondike Gold Samples up to 74.6 g/t Au (2.40 opt Au) at Gold Run Target
Klondike Gold Corp. (TSX.V: KG; FRA: LBDP; OTCQB: KDKGF) (“Klondike Gold” or the
“Company”) is pleased to report 2023 mapping, rock sampling and diamond drilling results from
five holes at the Gold Run target on the Company’s 100% owned Klondike District Property (the
“Property”) in the Dawson mining district, Yukon, Canada.
Highlights:
• 10 rock grab samples from the Gold Run target assay gold up to 74.6 g /t Au (2.40 opt Au).
Six of the samples contained visible gold.
• Mapping indicates a major bounding thrust fault lies 1km west of the Gold Run showing
areas and a second subordinate thrust fault lies 1km east. These structures control
emplacement of sheeted veins containing gold mineraliza�on.
• Mapping suggests the Gold Run target area is not part of the Klondike Schist and belongs
to a different assemblage.
• Five d iamond dril l holes over a 500 meter strike length all intersected gold bearing
sheeted veins with extensive carbonate alteration halos. The gold grades of individual
sheeted veins is low, no visible gold was noted, and the overall frequency of veining
intersected was also low. The geochemistry of the veins is also different from those
intersected at the Company’s gold targets elsewhere within the district.
Peter Tallman, Klondike Gold’s President & CEO, states; “From the limited amount of exploration
we’ve completed over several years at the remote Gold Run Target (~50kms SE), we’ve learned
that it’s geology, geochemistry and structural controls are quite different from that of the Lone
Star/Stander/Gay Gulch areas , where we’ve begun to build our gold mineral resources. At this
early stage of target evaluation the se differences a re just beginning to be understood and
quantified. Gold Run remains an important target area within our Klondike district project but is
at an early exploration stage compared to the development work being done elsewhere.”
Prospecting, mapping, and diamond drilling was conducted at the Gold Run gold target over a
2.0 km by 1.5 km area located 50 km southeast of mineral resources estimated at the Lone Star
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and Stander Zones1 and 20 km southeast of the Dominion gold target (see NR October 31, 2023)
at the south-east end of the Property.
Ten prospecting samples of individual 5 to 20 cm wide outcrop or subcrop quartz veins were
collected from pre-existing c.1900 to pre -1948 hand dug exploration pits, trenches, or shafts
attributed to Yukon Consolidated Gold Compa ny (“YCGC”) work which included logging, road
building, and camps supporting dredging operations. Six samples contained visual gold. Four
‘highlight’ outcrop samples of quartz veins assayed gold between 22.5 g/t Au (0.72 opt Au) and
74.6 g/t Au ( 2.40 opt Au); all of these samples had visual gold. All ten samples had gold values
above 0.63 g/t Au.
Mapping from outcrop and subcrop, LiDAR, geophysics, and diamond drilling is interpreted to
indicate the Gold Run gold showing area is hosted by mafic volca nic rocks in a 2 km-scale open
fold plunging southeast. Major thrust faults occur along the limbs of this fold. The fold is cut by
NW-SE oriented fractures which host gold bearing sheeted extensional veins localized in the fold
hinge associated with carbonate alteration.
A total of 5 drill holes totalling 524 meters tested the Gold Run target along a 500-meter strike
length and across a width of 150 meter s. All drill holes intersected gold bearing sheeted veins.
Every vein contained anomalous gold but no vi sible gold was identified and the vein density
intersected in each hole was low. Table 1 summarizes gold intersections in holes GR23 -494 to
GR23-498.
Table 1: Summary of Significant Gold Intervals
Hole ID From (m) To(m) Length (m) Au (g/t)
GR23-494 43.91 44.41 0.50 1.21
GR23-495 75.83 76.43 0.60 5.06
GR23-495 81.26 81.90 0.64 1.11
GR23-495 75.83 89.14 13.31 0.35
GR23-496 17.05 18.15 1.10 0.36
GR23-496 46.85 47.85 1.00 1.99
GR23-497 25.00 26.00 1.00 0.57
GR23-497 54.75 55.25 0.50 2.54
GR23-498 38.08 38.58 0.50 2.96
Gold assays from sheeted veins at Gold Run target do not contain anomalous trace elements Te
(tellurium) or Ag (silver) among others which are present in significant quantity at Dominion,
Lone Star, Stander, or other mineralized zones within the Klondike schists. This mafic lithology
area is considered to not be part of the Klondike schist assemblage as shown on government
maps.
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Figure 1: Location map of 2023 mapping areas within the Property.
The systematic mapping / sampling survey at Gold Run is part of a broader 2023 effort to assess
structural controls in gold target areas to distinguish areas of gold mineralization with tonnage
potential from smaller localized showings. The Company in 2023 completed 25 diamond drill
holes testing targets including the Gold Run target, Stander Zone mineral resource area1, and Gay
Gulch Showing among other targets. Rock sampling with mapping results from Stander East and
other targets mapped during this effort are pending. Assays from five ho les at Gold Run are
reported here and the remainder of the 2023 drill hole program assays are pending.
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KLONDIKE GOLD 2023 QA/QC prospecting rock and drill core sample protocols are found on our
website: https://www.klondikegoldcorp.com/projects/sampling-and-assay -protocols/
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.
UPCOMING EVENTS
Klondike Gold will be participating in the following upcoming events:
• One-on-one investor meetings (Houston, Texas) – November 15 - 16, 2023
• Florida Capital Event Conference (Miami, Florida) – November 17 - 19, 2023
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 -km length of the famous Klondike Goldfields placer district. Multi-km gold
mineralization has been identified at both the Lone Star Zone and Stander Zone, among other
targets. The Company has identified a Mineral Resource Estimate of 469,000 Indicated and
112,000 Inferred gold ounces1, a milestone first for the Klondike District. The Company is focused
on exploration and development of its 727 square km 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 The 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
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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
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.