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Klondike Gold Corp. Reaches Strategic Targets With 3 New Exploration Licenses
Klondike Gold Corp. Reaches Strategic Targets With 3 New Exploration Licenses Vancouver, Bri...
About this update from Klondike Gold Corp.
[{"type":"text","content":"Klondike Gold Corp. Reaches Strategic Targets With 3 New Exploration LicensesKlondike Gold Corp. Reaches Strategic Targets With 3 New Exploration Licenses\nVancouver, British Columbia CANADA, July 31, 2013 /FSC/ - Klondike Gold Corp.  (KG - TSX Venture), (the \"Company\") is pleased to report that Portuguese Authorities have granted 3 key new exploration licenses. The Company's application for the Castelo de Paiva ,the Valongo and the  Ponte do Barca exploration areas  have been accepted by the  Portuguese Authorities and that   exploration licenses have been  granted to  the  100 % owned European subsidiary of Klondike Gold Corp., Klondike Gold Corp. Portugal.\nCASTELO de PAIVA\nThe Castelo de Paiva license covers an area of 110 square kilometers and is located near the southeastern limit of the Valongo Mineral Belt approximately 60 km east of Porto. It is contiguous to Klondike Gold's   Lagares-Castromil License.   Mineral occurrences of gold, silver, antimony, lead, zinc, and feldspar are common and the area includes the historic Roman gold mine of Cabranca as well as several other Roman gold mine sites.  The Terramont silver, lead, zinc mine is also located in this exploration license. This silver mine was one of the most important in Europe in the 1960's and shut down in 1973 when silver prices languished at around $ 1.80 per ounce. The Terramonte zone is of great interest to the company because of current silver prices.  \nVALONGO\nThe Valongo license covers the center of the Valongo Anticline which hosts the Valongo gold and antimony belt. Gold deposit occurrences in the Valongo belt are clustered in a number of areas which have been explored intermittently since Roman times. Old mines occur along the north-eastern limb of the Valongo anticline in the upper Arenigian quartzite near the junction with the basement-greywacke complex at Santa Justa Pias and Banjas, and also at the contact between the calc-alkaline granite and the Silurian shale at Castromil. Some antimony-gold deposits in the turbiditic greywacke and shale sequence in the vicinity of the arc-shaped thrust fault zone in Montalto, Tapada and Fontinha were also mined. In terms of Portuguese gold historical production, this auriferous district w...