Ownership: 100% owned by Klondike Silver
Minerals: Silver, with associated cobalt and minor copper and nickel
Overview: Klondike Silver holds seven properties in the Gowganda and Elk Lake silver camps, which were once the largest silver producing areas in Ontario after the Cobalt silver camp. These three camps together produced an estimated 600 million ounces of silver primarily from high-grade silver veins in rocks exposed at surface. The Company is using advanced technologies to help map the geology, structures and potential silver-rich veins beneath glacial till and overburden. The 2008 first-phase drilling program is focused on diabase targets of the Flatstone Diabase Basin. Historic production from diabase-hosted deposits in this Basin and adjoining Miller Lake Diabase Basin exceeded 56 million ounces of silver and 56 tonnes of cobalt.
Geology: The Gowganda and Elk Lake camps are known for their silver-cobalt-copper and minor nickel-bearing carbonate-quartz veins, which occur mostly in Cobalt Group rocks in close association with Nipissing Diabase intrusions.
Next Steps: Ongoing drilling programs will test targets beneath and on strike of historical workings, many of which have not been explored since the 1940s. The priority targets will be selected with the help of data gathered from 10,000 km of airborne geophysical surveys and about 7,000 soil samples analyzed by Mobile Metal Ion (MMI) and/or other geochemical techniques capable of seeing deeper into the earth with greater accuracy and control to guide follow-up exploration programs.
