Klondike Gold has unveiled metallic screen assay results of chip sampling from the Nugget Zone and started diamond drilling at its 100% owned Lone Star property located 20 km south of Dawson City, Yukon.
The Company has contracted Kluane Drilling of Whitehorse, Yukon to drill approximately 12 holes totaling 1000m as a first pass test of various areas of quartz veining containing visible gold within the Lone Star property including at Nugget.
- Nugget Zone chip samples from the most continuous exposure of outcrop on Line 36 returned a weighted gold assay of 8.0 g/t Au over 4.3 meter interval.
- A ~1000m diamond drilling program, contracted to Kluane Drilling, has commenced.
Nugget Zone Results
Bulldozer trenching in the early 1990’s and additional excavator trenching in 2005 uncovered quartz veins containing visible gold at Nugget. Limited follow-up included three diamond drill holes in 2007 which missed the target because they were drilled precisely parallel to the veining. No further substantive work has been conducted until now.
The Company contracted Ground Truth Exploration Ltd of Dawson, YT who completed ~1000 meters of detailed induced polarization along three lines spaced 50 meters apart across this target.
The survey was designed to allow direct detection of 0.75 to 5.0+ meter wide quartz vein arrays. The outcropping quartz vein array at Nugget is associated with a northeast striking shear fault. IP results show features attributable to southwest dipping bedrock as well as to northeast dipping quartz veining and associated fault structures along the 100 meter strike length surveyed.
The Company completed detailed representative chip sampling perpendicular to veining across 14 individual lines over 38 meters strike length of outcropping quartz veins and adjacent host rock. A total of 38 chip samples were collected and analyzed by metallic screen assaying.
Thirteen samples were of wall rock and twenty five samples were of quartz veins. Only six samples had gold values under 0.1 g/t Au suggesting gold enriched wall rock. Thirteen samples had values between 5 g/t Au and 30.5 g/t Au. A summary of results is shown in the Table below.
The intent of the survey was to assess the variability of gold content along the strike of the veining, the distribution of gold in light of potential coarse-gold ‘nugget’ effects, and the gold content of the adjacent host rock. The reader is cautioned that the results herein, while methodically collected, should be regarded as an estimate only with potentially high variability.
The Company has contracted Kluane Drilling of Whitehorse, YT to diamond drill approximately 1000 meters as a first pass program testing various areas of quartz veining containing visible gold within the Lone Star property including at Nugget. The drill program has commenced and is currently on schedule to be completed by the end of August.
The Company has so far identified four drill targets on the Lone Star property which exhibit quartz veining containing visible gold which are associated with fault features identified by recently completed IP and magnetic surveying. Two other targets are of interest contingent upon receipt of positive prospecting grab sample assays, and others are being developed.