Klondike Gold Corp (CVE:KG) (OTCMKTS:KDKGF) has updated its exploration model for its giant 576 sq km Klondike District property in Yukon, which will inform its drilling and exploration efforts in 2020.
Klondike is bringing modern exploration methods to the famous goldfields in the Yukon, the site of the historic 19th-century gold rush.
In May this year, the company kicked off a US$2 million exploration program to focus on higher-grade targets rather than the low-grade widespread material it had been exploring previously.
"The updated exploration model is a result of a comprehensive three-month reprocessing and recompilation program of collected data involving in-house personnel and structural, geophysical, and LiDAR outside consultants," the exploration group told investors in a statement today.
Klondike said the new model better explained the recent gold discovery in a drill hole, which hit mineralization grading 1,009 g/t gold with 1,035 g/t silver over 1 meter (104.00-105.00 m) and provided vectors towards new exploration targets at the Lone Star and Stander zones.
"These areas, among others, will continue to be the focus of drilling and exploration efforts in 2020," said the company.
Remaining unreleased 2019 drill results are still undergoing interpretation and review in light of the new structural information and exploration model updates and will be forthcoming upon completion of this review, added Klondike.
Results from other work such as additional soil sampling, GT-Probe surveying, rock sampling and oriented core analysis are also awaited, said the firm.
Shares in Toronto gained nearly 4% to C$0.27 each.
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