|Further to the News Release dated August 31, 2016, Klondike Silver’s team, supervised by Golder Associates has successfully completed the armouring the southside of Carpenter Creek for 800 meters in order to mitigate the risk of the creek overflowing it banks and potentially damaging Klondike Silver’s surface infrastructures. This work was required by the British Columbia Ministry of Energy and Mines and approved by Fisheries and Oceans Canada and the British Columbia Ministry of Forests Lands and Natural Resources.
Golder Associates has completed the field work necessary to provide a current Annual Dam Safety Inspection Report for filing with the British Columbia Ministry of Energy and Mines. Golder Associates will utilize the inspection work to delineate a Dam Break Study which will assist Klondike Silver in carrying out further work necessary to comply with Ministry of Energy and Mines in regard to the Company’s tailings dams.
Klondike Silver is in the process of conducting a LIDAR (Light Imaging, Detection, And Ranging) survey to be flown over the entire set of the Company’s claims. This technology uses a narrow laser beam to map physical features at a very high resolution, in UTM NAD83 coordinates. Klondike Silver’s goal is to use this survey as part of the plan to uncover new economic silver-lead-zinc mineralization in this under-explored area of British Columbia. New discoveries will enable the Company to put the property back into production.
The LIDAR survey will provide Klondike Silver with high resolution topography which will accurately delineate surface features such as roads, old mine dumps, portals, buildings, etc., that were unobtainable, in the past. A three dimensional (3D) map will be generated, for the first time in the Camp’s history. Historic workings and geological features, originally mapped on paper in numerous local mine grids will be digitized and translated into NAD83 coordinates. This data will be added to the 3D topographical map to generate geological models of the known lodes (veins) and other geological structures. These 3D geological models can then be extrapolated to identify new drill targets.
New surface exploration programs recommended in the 2016 NI 43-101 technical report will utilize the 3D map to uncover new, near-surface mineralization, on the Company’s property.
About Klondike Silver
Mr. Richard Hughes, Chairman of Klondike Silver’s Technical Advisory Board identified and initiated the purchase and staking of mineral claims in the Slocan Silver Camp commencing in approximately the year 2000. The Camp was fragmented among many owners throughout its history. Klondike Silver’s land package has grown in size to over 100 km2, to become the largest land package in the Slocan Silver Camp. Based on the British Columbia MINFILE mineral database, sixty eight (68) of the one hundred and seventy three (173) past producing mines in the Slocan Silver Camp are located in the Klondike Silver land package. Klondike Silver has created the first real opportunity to invest and properly explore a sizeable portion of one of the most historic mining camps in British Columbia.
The scientific and technical disclosure in this news release has been reviewed and approved by David Makepeace, P.Eng., Senior Geologist — Environmental Engineer for Micon International Limited, who is an independent consultant to the Company and qualified person as defined in NI 43-101.
For additional information please visit the company website www.klondikesilver.com.
On Behalf of the Board of Directors
This news release contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the control of Klondike Silver Corp. which may cause actual results, performance or achievements of Klondike Silver Corp. to be materially different from the results, performance or expectation implied by these forward looking statements. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.