Klondike Gold’s Property-Wide 2024 Exploration Program Underway
April 19, 2024
Vancouver, BC
Klondike Gold’s Property-Wide 2024
Exploration Program Underway
Klondike Gold Corp. (TSX.V: KG; FRA: LBDP; OTCQB: KDKGF) (“Klondike Gold” or the
“Company”) is pleased to outline the 2024 exploration plan and review exploration potential at
the Company’s 100% owned Klondike District Property (the “Property”) in the Dawson mining
district, Yukon, Canada. Initial drill targets to be focus ed around rec ent drill discoveries in the
Stander Zone including 90.55 g/t Au (2.91 oz/t Au) over 0.55 meters among others (see news
release of January 15, 2024).
Peter Tallman, Klondike Gold’s President & CEO states , “ Following from extremely promising
2023 gold discoveries, the Company in 2024 is positioned to deliver significant additional results
to our shareholders in a favorable gold price environment . The Company’s ongoing funded
research, structural work, and evolved exploration model in 2023 led to new multi-ounce grade
gold discoveries throughout the Property . The transformative drill discovery of high grade gold
shear veining at Stander Zone , potentially a significant source of the famous 2 million ounce
Eldorado Creek placer pay streak, will be drill tested first in 2024 among several high potential
targets. The objective of this season is to successfully turn one or several of these new gold
discoveries into substantial mineral resources and unlock the Klondike goldfields’ world -class
mineral wealth potential for our stakeholders.”
Klondike Gold’s p roperty covers 727 square kilometres (“km”) and thus far hosts two bedrock
gold deposits, “Stander” and “Lone Star”, with total Indicated Resources of 469 thousand ounces
and Inferred Resources of 112 thousand ounces using a gold price of US$1,700/ounce 1.
Additionally, in 2023 high grade gold prospects have been discovered adjacent and outside the
existing Mineral Resource areas and along the unexplored 60 km southwest trending network of
crustal faults (collectively the “Klondike Shear Zone”) that controls gold mineralization within the
Property.
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2024 EXPLORATION PLAN
• Field work has begun with drilling scheduled to commence in early May with one drill.
• Initial 2,500 meters of diamond drilling is planned to target the new Stander Zone
discovery area of high grade (visible) gold shear veining over a 2km strike length, with
focus on 500 meters outlined by 2023 discovery drilling to test the resource potential.
• Contingent upon initial drill results, up to 2,500 meters of follow up diamond drilling is
contemplated to test the additional resource potential of high grade (visible) gold shear
veining at Stander Zone.
• Surface mapping including detailed structural mapping and sampling is planned to follow-
up of high grade (visible) gold veining discovered elsewhere along the Klondike Shear
Zone throughout the Property.
• Contingent upon structural mapping and further sampling results, additional diamond
drilling is contemplated to test further resource potential at Gay Gulch Showing or to test
for high grade mineralization at other Showings or new discoveries.
• Prospecting and sampling is planned to target anomalous sites identified in the Klondike
District Property by BLEG (bio-leach extractable gold) sampling survey with orogenic gold
signatures (see News Release February 24, 2024) coincident with proximity to c.1900
gold-rush era mine workings identified by the Company in 2023 to locate new zones of
mineralization.
• Updated mineral resources estimate is planned to begin in fall 2024 to include additional
drilling results from 2022 through 2024 seasons.
2024 STANDER ZONE EXPLORATION DETAIL
The 2024 drill plan will focus on follow up to the 2023 discovery of high grade (visible) gold shear
veining over 350 meters strike length in four drill holes (see NR released January 15, 2024) within
a 2km potential strike length based on subcrop high grade (visible) gold quartz samples.
Six drill holes at Stander Zone are now interpreted to have intersected the gold shear (including
four 2023 intersections now correlated with two from 2021) indicating a 350 meter strike length
and 200 meter dip length with mineralized intersections all grading between 30.3 to 90.6 g/t Au
(0.97 to 2.91 opt Au) over 0.5m to 1.5m width. All holes have significant halos of ‘extensional
sheeted veins’ containing low grade gold.
Table 1: Compilation of Stander Zone drilling intersections of Shear Vein to date.
Hole ID From
(m)
To
(m)
Shear Vein
Au (g/t)
Shear Vein Au
(troy oz/t)
Interval
(m)
Section
(m)
EC23-508 21.05 21.60 90.6 2.91 0.55 585780E
EC21-424 42.67 44.20 36.6 1.18 1.53 585780E
EC21-425 70.00 71.00 36.4 1.17 1.00 585780E
EC23-510 92.70 93.20 38.2 1.23 0.50 586120E
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Hole ID From
(m)
To
(m)
Shear Vein
Au (g/t)
Shear Vein Au
(troy oz/t)
Interval
(m)
Section
(m)
EC23-511 49.78 50.30 39.6 1.27 0.52 586120E
EC23-514 98.65 99.15 30.3 0.97 0.50 586275E
Two areas of subcrop quartz veining located 2 km apart are interpreted to represent the outcrop
line of high grade (visible) gold shear veining. Six prospecting samples collected in 2023 of quartz
containing visible gold assayed between 7.0 g/t Au and 74.6 g/t Au (see NR Janu ary 15, 2024)
represent the at-surface expression of high grade (visible) gold shear veining intersected in 2023
drilling listed in Table 1. A very similar sec ond area of quartz vein material with visible gold is
located 2km to the northwest and was discovered by prospecting in 2020. Five prospecting rock
samples of subcrop quartz vein material dug from a 5m by 10m area contained visible gold and
assayed 77.8, 74.1, 58.9, 22.2, and 6.8 g/t Au. The strike and dip projection of gold bearing shear
veins in six drill intersections includes this second area of 2020 gold quartz samples projected
2km to the northwest.
UPPER ELDORADO CREEK PLACER LEASE
The Company has entered into a lease agreement with a private Yukon company whereby
Klondike Gold assigns the rights and permits to placer mine on a portion of the Company’s Upper
Eldorado Creek Placer property totalling 34 contiguous claims covering the Upper Eldorado and
Chief Gulch drainages. The lease is for a term of 3 years through 2026 and is renewable thereafter
subject to approval by both parties. Klondike Gold will receive a direct 10% gold production
royalty from any mining production on the Placer Property payable in raw gold. The Company
holds a 10 -year Class IV placer mining permit issued in 2022 expiring 2032 which includes this
area. The Chief Gulch drainage lies 3.5 km along strike from the southwest end of known high
grade gold mineralization at the Stander Zone. Exploration in the Chief Gulch drainage for placer
gold deposits benefits the Company’s overall exploration efforts.
QUALITY ASSURANCE/QUALITY CONTROL
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. Exploration related 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:
• April 19 – 21: CEM Investment Conference (Scottsdale, AZ)
• June 21 – 26: Invest Yukon Investment Conference/Property Tour (Dawson, YT)
• July 19 – 21: CEM TSX Venture Growth Conference (Kelowna, BC)
• August 12 – 16: Klondike Investment Conference/Property Tour (Dawson, YT)
• November 22 – 24: CEM Florida Capital Event (Miami, FL)
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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 -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.sedarplus.ca effective November 10, 2022.
Refer to news release of December 16, 2022.
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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 s tatements 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.