VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/29/13 -- Klondike Gold Corp. (TSX VENTURE: KG) (the "Company") is pleased to summarize final results for 2012 exploration of its Lone Star Property, Yukon.
-- Boulder Lode open cut results of 1.86 g/t over 5 by 25 meters, including 9.43 g/t over 2.5 by 4.2 meters of the excavation and significant advances in understanding of the structural and lithologic control on two types of gold mineralization-- Nugget Zone mapping, extension and grab samples of 179 g/t Au with 78 g/t Ag and recognition of a possible trend to the Buckland Zone-- Upper Eldorado grab samples of up to 98.8 g/t Au with 20.7 g/t Ag-- Violet Ridge trend advancement with high sample of 47.4 g/t Au and 894 g/t Ag and recognition of possible 4 km strike length-- Boy Zone 400 m by 900 m soil anomaly and recognition of further under explored areas of the property
The exploration on the Lone Star Property during 2012 used a systematic approach to evaluate the potential of known targets and to explore for new gold mineralization. The winter 2012 data review brought together over 30 years of data into a usable format and drove 2012 exploration priorities.
There are four high priority targets on the Lone Star Property:
1. The Boulder Lode on top of Lone Star Ridge2. The Nugget to Buckland trend midway up Lone Star Ridge with possible extent of greater than 1.1 km and significant past high grade results3. The Violet Ridge trend with possible extent of 3.6 km from the historic Violet mine to the 310 Zone4. The underexplored areas of the property which have significant extensive ongoing placer production
New understanding of the mineralization at the Boulder Lode has been facilitated by the excavation and sampling of a 100 year old open cut in June 2012 and by structural and lithological mapping by academic consultants Dr. Doug Mackenzie, Dr. Jim Mortensen, and Dr. Timothy Liverton. This understanding of the Boulder Lode gives evidence for two complementary types of significant gold mineralization:
1. Shallow dipping stacked quartz vein system visible in the 2012 Boulder Lode excavation with local thickness of 8 plus metres. Channel sampling shows results of 1.86 g/t (147 sample average) over a 5 by 25 m portion of the stacked vein system, including 9.43 g/t over a 2.5 by 4.2 meters. Individual samples show a high of 43.1 g/t Au in the quartz veins and 4.1 g/t in the interstitial schist host rock. This mineralization dips to the northeast into an area with very limited historical drilling and coincides with an area of favorable host lithology postulated by Dr. Jim Mortensen. Further investigation by drilling into the down dip extension of this mineralized unit is recommended.2. Contouring and lithological mapping used previous drilling and trench data to generate an exploration model that shows gold enrichment in a subunit of the Klondike schist on the anticlines (structural high points) of undulating D3 and D4 folding on a 100 to 200 meter scale. Late D4 extensional deformation appears to have preferentially mineralized these anticlines. This has implications for new target areas to the east and north of the Boulder Lode.