Klondike Silver Corp. Completes First Phase of Gold and Silver Exploration Program at Connaught JV Project
- 96 NEW CLAIMS STAKED TO COVER FAVOURABLE GEOLOGY ON SOUTHERN BORDER
- FIRST PHASE OF 2010 EXPLORATION PROGRAM COMPLETED - AWAITING ASSAYS
- FAVOURABLE INTRUSIVE ROCKS MUCH MORE EXTENSIVE THAN PREVIOUSLY MAPPED
- SOIL GEOCHEMICAL SURVEY COMPLETED OVER BROAD AREA SOUTH OF PREVIOUS SURVEYS
"We are encouraged with the progress made on the Connaught Project made thus far and look forward to moving ahead with a second phase of exploration in August. We are optimistic in this property's potential for both gold and silver," commented Company President, Richard Hughes. "Ongoing exploration will continue to emphasize gold targets in addition to known high grade silver zones from which an historic shipment reportedly averaged 2228.5 g/t (65 opt) silver, 60% lead and 1 g/t gold."
The Connaught property lies in the headwaters of the 60 Mile placer gold district, within the Tintina Gold Belt, and at the northwestern end of the White Gold District. The Yukon has seen increasing interest as a gold exploration target in the past few years. Great success has been achieved by Underworld Resources at their White Gold project, and by ATAC Resources at their RAU gold project, along with many other high potential gold properties in the region.
Mineralization at Connaught is intrusion related, with 14 narrow polymetallic veins discovered to date over an area of 11km by 4km. Late Cretaceous age granitic intrusions are present on the property, with metamorphic country rocks of the Yukon Tanana terrane. Hornfels and skarn zones present on the property may hold potential for bulk tonnage gold deposits. A thrust fault mapped on the property will also be investigated for enhanced gold values in a geological setting similar to the "White Gold" property, now owned by Kinross Gold.
Geological mapping in 2010 has revealed that intrusive lithologies are much more extensive than previously known. A pluton previously mapped as less than one kilometer in diameter has now been extended to roughly 6 km by 0.5 to 1.5 km. The granitic body is dominantly quartz monzonite which is recessive weathering, with lesser granodiorite that is resistant to weathering. Several bodies of highly felsic granite, including rare graphic granite pegmatite have also been mapped. The felsic intrusive lithologies were not previously documented on the property. Bands of marble and skarn have also been shown to extend from previously known outcrops on the property. The pyroxene-garnet skarn is enriched in copper and zinc, and has been sampled to evaluate gold content which was not previously examined.
The Qualified Person for the purpose of National Instrument 43-101 is William Mann, P.Geo., who has read and agreed with the technical information in this news release.
The Board of Directors is also pleased to announce the appointment of Diana Mark as Corporate Secretary and Kathi Bartels as Assistant Corporate Secretary.
About the Connaught Property:
Previous exploration at the Connaught Property revealed silver, gold and lead mineralization in 14 veins over an area measuring roughly 11 kilometres by 4 kilometres. Porphyry and skarn mineralization is also present in the area.
About Klondike Silver:
Klondike Silver is a member of the Hughes Exploration Group of Companies and is led by a team with an excellent track record of discovery and development in Canada.
Klondike Silver Corp. has assembled a quality portfolio of silver properties in historic mineral districts in North America, and is applying advanced exploration technologies to add value to these core assets. Klondike Silver is reviving the Gowganda and Elk Lake silver camps in Ontario, and the world-famous Klondike district of Yukon Territory. The Company owns a 100 TPD fully operational flotation mill in Sandon, BC, which is currently processing material from local mines in the historic Slocan Silver Camp.
Contact Information:
Corporate Inquiries:
Kevin Hull or Alan Campbell, (604)-685-2222
Email: info@klondikesilver.com
Or visit Klondike Silver's web-site: www.klondikesilver.com to see Smartstox interviews with Company President, Richard Hughes.
The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.
Klondike Silver Corp. Discovers Mineralization within 20 foot Intersection of Silvana Main Lode Structure
- Latest Hole, K-1118, has higher carbonate-vein fragment content than all previous holes as well as trace amounts of Zinc and Lead Sulphides
- Lode Structure Intersections Increase in Width between Holes K-1117 and K-1118
- K-1119 will be drilled from Drill Station #3, 100 meters to the west and is expected to begin on June 3rd, 2010
- Company Geologists now Know Strike, Dip, and Thickness (3 points of intersection) of the Lode Structure
Hole K-1117 was completed in early May from Drill Station #2 and intersected a true width of 20 feet of lode structure. Company geologists found sporadic intersections of quartz carbonate-vein fragments within the core.
Hole K-1118 was completed on May 31st, also from Drill Station #2, and the true width of the lode structure intersection exceeds that of hole K-1117. The geologists are also seeing much more quartz carbonate-vein fragmental content in the core of K-1118 than they did in the core of hole K-1117.
Completion of drill holes K-1117 & K-1118 at the west end of the 4625 level of the Silvana silver-lead-zinc mine, brings the company further into the 7,000 foot long segment of unexplored and highly prospective ground west of the Main Lode structure of the Silvana Mine.
To view a map of the Slocan Silver Camp highlighting recent work done by the Company click on the following link:
http://www.brmstatpack.com/lt/1001/1133/slocan-map
Steve Phillips, Klondike Silver's mine manager, commented 'in my experience these intersected thicknesses constitute very significant widths of lode structure'. Steve Phillips has 42 years mining-geology experience, including 17 years in the Slocan Camp mostly at the Silvana Mine, 6 of which were as Mine manager, chief geologist, geologist and consultant.
Company President, Richard Hughes, made the following comments in the Company's August 27, 2009 press release upon the initial discovery of what is believed to be an extension of the Main Lode structure, responsible for the majority of mineralization and production within the Silvana Silver Camp. "We have two goals in the current underground exploration program; first to identify the presence of the lode structure within the prospective horizon, and second to locate any ore-bearing chutes within the structure. The discovery of lode structure this early in the initial phase of exploration is exciting as we are just at the start of our target area. This 1.5 km area between the Mammoth and Silvana mines has never been tested before although it was slated for exploration before the mine shut down in the early 1990s as a result of low metal prices. Drilling will now focus on testing the newly discovered structure for the presence of ore-bearing chutes as well as further delineating its extent."
The recent intersection has demonstrated that the structure which the Company is currently exploring has the potential to host lead-zinc-silver mineralization. The target zone is a 1.5 km long section of the Main Lode structure that has never been tested before. The Main Lode structure is more than 8 kilometers long, extending east from Silverton on Slocan Lake to Sandon through the "Silver Ridge" of the Selkirk Mountains some 50 kilometers north of Nelson, B.C.
The Company holds the ground for approximately 1.5 km between the Silvana and the Mammoth Mine. This program represents the first attempt since the early 1990s to explore west towards the Mammoth, Standard and the other major "Main Lode" producers.
Company geologists are also pleased that they now have 3 points of intersection for the lode structure and are moving the drill for hole K-1119. Hole K-1119 will be drilled from Drill Station #3, 100 meters to the west of Drill Station #2, and is expected to begin on June 3rd.
The Qualified Person for the purpose of National Instrument 43-101 is Ed Craft, PEng, who has read and agreed with the technical information in this news release.
About Klondike Silver:
Klondike Silver is a member of the Hughes Exploration Group of Companies and is led by a team with an excellent track record of discovery and development in Canada.
Klondike Silver Corp. has assembled a quality portfolio of silver properties in historic mineral districts in North America, and is applying advanced exploration technologies to add value to these core assets. Klondike Silver is reviving the Gowganda and Elk Lake silver camps in Ontario, and the world-famous Klondike district of Yukon Territory. The Company owns a 100 TPD fully operational flotation mill in Sandon, BC, which is currently processing material from local mines in the historic Slocan Silver Camp.
Contact Information:
Corporate Inquiries: Kevin Hull or Alan Campbell, (604)-685-2222
Email: info@klondikesilver.com
Or visit Klondike Silver's web-site: www.klondikesilver.com to see Smartstox interviews with Company President, Richard Hughes.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy or contents of this news release.
The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.
The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.
Klondike Silver Corp. Commences 2010 Gold and Silver Exploration Program at Connaught JV Project
- FOLLOW UP ON THREE NEW DISCOVERY AREAS INCLUDING PREVIOUS GOLD SAMPLES UP TO 4.13 G/T (KS NEWS RELEASE OCTOBER 30, 2009)
- EXTEND SOIL GEOCHEMICAL COVERAGE TO ENTIRE PROPERTY
- EMPHASIZE GOLD TARGETS IN ADDITION TO KNOWN HIGH GRADE SILVER ZONES FROM WHICH AN HISTORIC SHIPMENT REPORTEDLY AVERAGED 2228.5 G/T (65 OPT) SILVER, 60% LEAD AND 1 G/T GOLD
- INVESTIGATE POTENTIAL FOR "WHITE GOLD" TYPE MINERALIZATION
The Connaught property lies in the headwaters of the 60 Mile placer gold district, within the Tintina Gold Belt, and at the northwestern end of the White Gold District. The Yukon has seen increasing interest as a gold exploration target in the past few years. Great success has been achieved by Underworld Resources at their White Gold project, and by ATAC Resources at their RAU gold project, along with many other high potential gold properties in the region.
"Klondike Silver believes the project may have significant untested gold potential in addition to further high grade silver veins. The Connaught is a large well mineralized property that continues to deliver new discoveries by prospecting and soil geochemistry," commented Company President, Richard Hughes.
Mineralization at Connaught is intrusion related, with 14 narrow polymetallic veins discovered to date over an area of 11km by 4km. Late Cretaceous age granitic intrusions are present on the property, with metamorphic country rocks of the Yukon Tanana terrane. Hornfels and skarn zones present on the property may hold potential for bulk tonnage gold deposits. A thrust fault mapped on the property should also be investigated for enhanced gold values in a geological setting similar to the "White Gold" property, now owned by Kinross Gold.
The Qualified Person for the purpose of National Instrument 43-101 is William Mann, P.Geo., who has read and agreed with the technical information in this news release.
The Company is also pleased to announce that it has arranged for a private placement of up to 15,000,000 units for total proceeds of up to $750,000. The financing will consist of flow through and non-flow through units priced at $0.05 per unit. Each flow through unit will consist of one flow through common share and non-flow through share purchase warrant entitling the holder to purchase one additional common share for two years at a price of $0.10 per share. Each non-flow through unit will consist of one non-flow through common share and one non-flow through share purchase warrant entitling the holder to purchase one additional common share at the price of $0.10 per share in the years 1&2, $0.15 per share in year 3 and $0.20 per share in years 4&5. In accordance with Exchange policies, finders' fees may be paid on the funds raised. The private placement is subject to regulatory approval and the proceeds will be used for exploration programs and general working capital.
About the Connaught Property:
Previous exploration at the Connaught Property revealed silver, gold and lead mineralization in 14 veins over an area measuring roughly 11 kilometres by 4 kilometres. Porphyry and skarn mineralization is also present in the area.
About Klondike Silver:
Klondike Silver is a member of the Hughes Exploration Group of Companies and is led by a team with an excellent track record of discovery and development in Canada.
Klondike Silver Corp. has assembled a quality portfolio of silver properties in historic mineral districts in North America, and is applying advanced exploration technologies to add value to these core assets. Klondike Silver is reviving the Gowganda and Elk Lake silver camps in Ontario, and the world-famous Klondike district of Yukon Territory. The Company owns a 100 TPD fully operational flotation mill in Sandon, BC, which is currently processing material from local mines in the historic Slocan Silver Camp.
Contact Information:
Corporate Inquiries:
Kevin Hull or Alan Campbell, (604)-685-2222
Email: info@klondikesilver.com
Or visit Klondike Silver's web-site: www.klondikesilver.com to see Smartstox interviews with Company President, Richard Hughes.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy or contents of this news release.
The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.
The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.
Klondike Silver Corp. Commences 2010 Spring/Summer Regional Exploration Program in Silvana Silver Camp
- FIRST PHASE OF EXPLORATION TO FOCUS ON EXISTING HIGH-GRADE TARGETS, INCLUDING MCLANDERS VEIN, WHICH IS UNUSUALLY SILVER RICH, WITH GRAB SAMPLES ASSAYING UP TO 197 OZ/TON SILVER
- SECOND PHASE TO EXPAND ON ANOMALIES DISCOVERED DURING 2009 SOIL SAMPLING AND VLF SURVEYS AS WELL AS TEST FOR EXTENSIONS ON SEVERAL HISTORIC ZONES
VANCOUVER, BC ---Klondike Silver Corp. (the "Company") (TSX-V: KS) is pleased to announce it has commenced an aggressive regional exploration program in the Slocan Silver Camp for the spring/summer exploration season. Underground work at the Silvana mine is ongoing and the Company expects to provide an underground exploration update in the near future.
"The Company expects compilation work completed over the winter to greatly assist in defining and expanding exploration targets throughout the Slocan during the course of the 2010 program," commented Company President, Richard Hughes. "The experience and local knowledge present in our exploration team is expected to greatly enhance the effectiveness and efficiency of this year's program."
Regional Program Highlights:
- Surface work to advance exploration begun last year on numerous properties in the Slocan Silver camp.
- Geotronics Consulting Inc. has been contracted to undertake an IP geophysical survey on several of these properties, starting immediately.
- The survey will be done in conjunction with a ground VLF-EM and magnetometer survey, in an attempt to discover extensions of known mineralization and/or to test geochemical anomalies
- First phase of exploration will target the McLanders vein on the Wonderful property, which was both drilled and trenched in 2005. The McLanders vein is unusually silver rich, with grab samples assaying up to 197 oz/ton silver.
- Second phase of exploration will focus on other properties including testing for an the western extension of the Violamac and Hinckley deposits, the western and eastern extensions of the Hewitt-Van Roi vein system, and the eastern extension of the Richmond-Eureka in the Cody Creek drainage basin
- Exploration during the 2010 season will include more detailed geochemical surveys, particularly in areas where 2009 surveys indicated broad silver-lead soil anomalies.
- Trenching, begun late in the 2009 season, will continue to test coincident geochemical and geophysical anomalies.
The Qualified Person for the purpose of National Instrument 43-101 is Trygve Höy, PEng, PhD who has read and agreed with the technical information in this news release.
About Klondike Silver:
Klondike Silver is a member of the Hughes Exploration Group of Companies and is led by a team with an excellent track record of discovery and development in Canada.
Klondike Silver Corp. has assembled a quality portfolio of silver properties in historic mineral districts in North America, and is applying advanced exploration technologies to add value to these core assets. Klondike Silver is reviving the Gowganda and Elk Lake silver camps in Ontario, and the world-famous Klondike district of Yukon Territory. The Company owns a 100 TPD fully operational flotation mill in Sandon, BC, which is currently processing material from local mines in the historic Slocan Silver Camp.
Contact Information:
Corporate Inquiries: Kevin Hull or Alan Campbell, (604)-685-2222
Email: info@klondikesilver.com
Or visit Klondike Silver's web-site: www.klondikesilver.com to see Smartstox interviews with Company President, Richard Hughes.
AGORACOM Investor Relations
Email: KS@agoracom.com Website: http://www.agoracom.com/ir/KlondikeSilver
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy or contents of this news release.
The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.
The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.
Klondike Silver Corp: Private Placement Amended & Closed
In connection with the transactions, cash commissions totaling $85,480 were paid to Haywood Securities Inc., Canaccord Financial Inc., Frank Durant, Bolder Investment Partners and Limited Market Dealer Inc. Included in the private placement was the sale of 11,538,462 flow-through units to MineralFields Group.
The proceeds of the private placement will be used for exploration expenditures on the Company's British Columbia and Ontario mineral properties as well as for general working capital.
The Company announces that Darcy Hughes has been appointed a director of Klondike Silver Corp. effective December 29, 2009. Mr. Hughes has been involved with mineral exploration since 1983 and has served on the boards of various publicly traded companies in the mining and petroleum exploration fields, as well as private mining and manufacturing companies. He is the VP Corporate Admin and owner of Pro CNC, a manufacturing business in Bellingham, Washington, and is a director of Abitibi Mining Corp., Amador Gold Corp., Chalice Diamond Corp., Golden Chalice Resources Inc., Klondike Gold Corp. and Sedex Minerals Corp. and Zinccorp Resources Inc.
The Company also announces the resignation of John Keating as a director effective January 22, 2010. The Board of Directors expresses their thanks and appreciation to Mr. Keating for his invaluable contribution and service to the Company.
About MineralFields
MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar resource limited partnerships to investors throughout the world. Information about the MineralFields Group is available at www.mineralfields.com.
About Klondike Silver:
Klondike Silver is a member of the Hughes Exploration Group of Companies and is led by a team with a stellar track record of discovery and development in Canada.
Klondike Silver Corp. has assembled a quality portfolio of silver properties in historic mineral districts in North America, and is applying advanced exploration technologies to add value to these core assets. Klondike Silver is reviving the Gowganda and Elk Lake silver camps in Ontario, and the world-famous Klondike district of Yukon Territory. The Company owns a 100 TPD fully operational flotation mill in Sandon, BC, which is currently processing material from local mines in the historic Slocan Silver Camp. As well, Klondike Silver entered into a joint venture with Kootenay Gold Inc. to explore a copper-porphyry property in the state of Sonoro in northern Mexico.
Contact Information:
Corporate Inquiries: Kevin Hull or Alan Campbell, (604)-685-2222
Email: info@klondikesilver.com
Or visit Klondike Silver's web-site: www.klondikesilver.com to see Smartstox interviews with Company President, Richard Hughes.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy or contents of this news release.