VANCOUVER, BC / ACCESS Newswire / April 24, 2025 / Klondike Gold Corp. (TSXV:KG)(FRA:LBDP)(OTCQB:KDKGF) ("Klondike Gold" or the "Company") is pleased to report the commencement of 2025 exploration and drilling on the Company's 100% owned a Klondike District Property (the "Property") spanning 727 square kilometer bedrock gold of advanced exploration (see Figure 1).
Peter Tallman, President and CEO of Klondike states "2025 drilling is anticipated to commence on or before April 28 which begins a multiphase campaign to expand the extents of gold mineralization in the Eldorado Creek corridor. The overall drill plan will target significant lateral and deep vertical extensions to high grade gold vein zones and includes provision for the first time to drill up to 750m hole length to test for significant extension of mineralization to depth".
The 2025 drilling program is based around positive new insights stemming from recent evaluation work which have significantly updated our gold mineralization models. The Klondike exploration team have recast and remapped outdated geology units in use since the 1980's, compiled and mapped multiple individual thrust planes within the composite Eldorado Fault thrust zone. In addition, using measurements from oriented drill core and new surface structural mapping have constructed 3-D structural, vein, and gold mineralization models along the ‘Eldorado Creek corridor'.
Importantly the Company has documented high grade orogenic style gold veining (>30 g/t Au) outcropping within 500 meters of vertical elevation from the level of Eldorado Creek at the bottom to the tops of hills above. Our new 3-D mineralization/structural models consistently link many ‘Undrilled Au Showings' (see Figure 2) together along multiple parallel, stacked mineralized faults.
These lengthy linear zones containing gold-bearing mineralization will be the focus of 2025 exploration drilling with the goal to outline a substantial area of gold mineralization extending to depth from our existing at-surface mineral resource estimate1 containing 581k oz Au calculated at $1700 USD gold price.
Figure 1: Location of Klondike Gold's bedrock gold 727 square kilometer "Klondike District Project" and the Montana Creek Placer lease operation.
Figure 2: Vertical longitudinal view of gold mineralization along Eldorado Creek with drill target area and existing mineral resource areas outlined.
Figure 3: Plan view of gold mineralization along Eldorado Creek with drill target area and existing mineral resource areas outlined.
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-kilometer length of the famous Klondike Goldfields placer district. Multi-kilometer gold mineralization has been identified at both the Lone Star Zone and Stander Zone, among other targets. The Company has identified a pit constrained Mineral Resource Estimate of 469,000 Indicated and 112,000 Inferred gold ounces[1], a milestone first for the Klondike District. The Company retains a 10% production royalty on the active Montana Creek placer property with payments capped at $9.5M total over 6 years. The Company is focused on exploration and development of its 729 square kilometer 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.
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.
Forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, market volatility; the state of the financial markets for the Company's securities; fluctuations in commodity prices and changes in the Company's business plans.In making the forward looking statements in this news release, the Company has applied several material assumptions that the Company believes are reasonable, including without limitation, that the Company will continue with its stated business objectives and its ability to raise additional capital to proceed. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. The Company seeks safe harbor.
For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedarplus.ca.
[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.
