Klondike Gold shines with Yukon discovery
The share price of Vancouver-based Klondike Gold surged on the TSX-V on Tuesday, after the company reported assay results from nine drill holes testing the Nugget zone along the Nugget Fault on its 576 km2 Klondike property, in Yukon Territory.
Drill testing along 200 m at the Nugget zone intersected gold mineralisation and discovered a new parallel zone of high-grade gold, the exploration company said in an announcement.
The assay results include new mineralisation grading 1 009 g/t gold with 1 035 g/t silver over 1 m in drill hole EC19-267. This includes a wider interval that graded 404 g/t gold with 415 g/t silver over 2.5 m.
This was a new discovery 25 m below the known Nugget zone mineralisation and remained open.
Drill hole EC19-256 intersected Nugget zone mineralisation grading 9 g/t gold over 10 m and is included in a wider interval that graded 4.3 g/t gold over 21.5 m beginning at surface.
Drill hole EC19-266 intersected Nugget zone mineralisation grading 8 g/t gold over 49.6 m.
Drilling targeting the Nugget Fault, including the Nugget zone began in mid-June.
Klondike hit a new 52-month high on the TSX-V, with shares hitting C$0.44 each and closing up 9.3% at C$0.41 a share.
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