viewKlondike Gold Corp.

Klondike Gold completes three phases of diamond drilling at Klondike district project

The firm said 13 holes were completed at the Lone Star Zone, compared to nine planned

Klondike Gold Corp. -
The company's Klondike district property covers a massive 557 square kliometres and houses 2,942 claims

Klondike Gold Corp (CVE:KG) (FRA:LBDP) (OTCPINK:KDKGF) has told investors that the previously reported three phases of diamond drilling at its Klondike District Property in the Yukon have now been completed and should help the firm assess potential mine configurations.

The firm said 13 holes were completed at the Lone Star Zone, compared to nine planned. Samples have been submitted with results expected this month.

READ: Klondike Gold begins exploration and drilling in the Yukon

The Phase 2 drill program targeting the Stander Zone is also complete, with five holes sunk, while the third phase of drilling targeting Stander Zone extensions with four holes is also finished. Assays are expected to follow the release of Lone Star Phase 1 results.

Meanwhile, detailed mapping, prospecting and trenching programs targeting the areas of the three phases of drilling are still ongoing.

Results will help consider potential open-pit configurations at both the Lone Star and Stander zones and provide information regarding the structural relationship with high gold grades to assist targeting further planned 2020 drilling, said Klondike. The drill rig remains on the property.

"The entirety of the phased drill programs went very smoothly and quickly considering the company began exploration early and with comprehensive health protocols to prevent infection and transmission of the covid virus, and I want to commend our staff and our contractors for embracing the diligence and patience required," Peter Tallman, the CEO of Klondike Gold said in a statement.

"I am optimistic the results of this drilling will help point towards more of the higher grades of gold our shareholders want to see in addition to providing information on Lone Star and Stander Zones."

The company's Klondike district property covers a massive 557 square kilometres and houses 2,942 claims, from where 20 million ounces of the yellow metal have been recovered from gravel beds since 1896, yet no underground mine has ever been built.

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Quick facts: Klondike Gold Corp.

Price: 0.235 CAD

Market: TSX-V
Market Cap: $31.41 m

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