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Klondike Gold Commences Drilling at Gay Gulch Zone
VANCOUVER, BC / ACCESSWIRE / May 28, 2019 / Klondike Gold Corp. (TSX-V: KG; FRA: LBDP; OTC: K...
About this update from Klondike Gold Corp.
[{"type":"text","content":"Klondike Gold Commences Drilling at Gay Gulch ZoneVANCOUVER, BC / ACCESSWIRE / May 28, 2019 / Klondike Gold Corp. (TSX-V: KG; FRA: LBDP; OTC: KDKGF) (\"Klondike Gold\" or the \"Company\") has commenced 2019 diamond drilling, part of a $2-million exploration program (see News Release May 16, 2019) on the Company's wholly owned 563 square kilometer Klondike District Property, Yukon Territory. Drilling is initially targeting the Gay Gulch Zone following up high-grade gold mineralization hosted by quartz veining discovered there in 2015. Seven drill holes are planned to test this Zone as part of a 60-hole program testing multiple targets.SUMMARY: Drilling has commenced targeting extension to the mineralization identified at the Gay Gulch Zone along the Eldorado Fault. Seven shallow drill holes are planned. The Gay Gulch Zone was originally discovered by drilling in 2015. Discovery hole EC15-10 intersected bearing quartz veining which assayed 420 g/t Au over 0.5 meters within a broader interval assaying 75.6 g/t Au over 2.8 meters. All six holes drilled in 2015 contained visible gold. Assay results from this portion of the 2019 drill program are anticipated in late July. 2019 Gay Gulch Zone Target:The Gay Gulch Zone is situated adjacent to a prominent eight kilometer long northwest trending magnetic low named the Eldorado Fault which has numerous gold showings located along it. At Gay Gulch, the Eldorado Fault is intersected by a younger north trending \"magnetic low\" fault that creates a kink or bend which is prospective for focusing of gold-bearing quartz veins.In 2015 following the identification of visible gold bearing quartz veining in local float, six holes (EC15-08 to EC15-13) tested the showing and all holes intersected quartz veins containing visible gold (see News Release October 26, 2015.) Five of six holes returned high grade gold assays over narrow intervals of up to 419.91 g/t Au over 0.50 meters, with interesting narrow gold intersections listed in the following table.Table 1: High grade gold intervals from 2015 drilling Hole ID From (m) To (m) Au (g/t) Interval (m) EC15-08 42.50 42.85 13.47 0.35 EC15-09 20.15 20.40 6.55 0.35 EC15-10 23.90 24.40 419.91 0.50 EC15-11 21.20 21.35 4.66 0.15 EC15-13 20.00 20.35 17.39 0.35 EC15-13 20.80 21.00 51.83 0.20 A total of seven shallow holes are planned to test for extensions to th...