Klondike Gold Corp.: Drilling Intersects 155 Meters of 'Sullivan Horizon' at Irishman Project
2009年5月22日 - 2:00AM
Marketwired
Klondike Gold Corp. (TSX VENTURE: KG) (the 'Company') is pleased to
announce highly encouraging results from a recently drilled hole
that intersected 155 meters of the prospective Sullivan horizon at
the Irishman Property in southwestern British Columbia. The project
is a joint venture with Sedex Mining Corp. (TSX VENTURE: SDN).
The drilling by operator Klondike Gold was part of an ongoing
exploration effort focused on the search for sedimentary exhalative
(SEDEX) deposits similar to the world-class Sullivan Mine near
Kimberley, which closed in 2001 after producing more than 150
million tonnes averaging 6.9% lead, 5.1% zinc and 67 g/t
silver.
Along with partner Sedex Mining Corp., the 'Company' is
encouraged by the results of the recently drilled hole, which
represents the thickest Sullivan-time interval intersected to date.
The work programs are under the direction of Trygve Hoy, Ph.D. P.
Eng., a former provincial government geologist who is now a
world-recognized expert on the setting and controls for Sullivan
type deposits in the Proterozoic Purcell Basin of southern BC.
"This is an exciting drill hole, the best we have ever done and
probably the best that has ever been drilled in the Purcell basin
outside of the Sullivan area," stated Dr. Hoy.
The Irishman hole, completed to a depth of 1,520 meters in late
October of 2008, tested the Sullivan horizon at the south end of
the Panda basin, a north-trending structural basin similar to the
Sullivan basin hosting the past-producing Sullivan Mine, 40 km to
the north. The 155 meters of Sullivan horizon intersected by the
Irishman drill-hole exhibit many characteristics of exhalative
activity, typical of the distal fringes of SEDEX mineralization in
a basin setting. This favourable horizon comprises mainly massive
sulphide fragmentals with zones of alteration and visible sulphides
- pyrrhotite, sphalerite and galena - mineralization.
Selected assays of the mineralized intervals are given below.
More complete analyses will be posted on Klondike Gold's website,
www.klondikegoldcorp.com.
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Sample Depth (m) Interval (m) Zn ppm Pb ppm Ag ppm Cd ppm
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866328 1414.4 m 0.6 m 785 4137 1.2 9.4
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866331 1417.3 m 0.33 m 2168 6861 4.7 24.5
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866337 1424.0 m 1.0 m 2511 3286 6.7 11.7
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866339 1426.0 m 1.0 m 3923 4769 9.1 14.7
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866340 1427.0 m 1.0 m 2764 5167 7.3 17.2
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866348 1451.2 m 1.0 m 161.1 2325 0.5 7.6
----------------------------------------------------------------------------
866358 1466.0 m 1.0 m 65.1 4649 0.8 26.3
----------------------------------------------------------------------------
866364 1505.7 m 1.8 m 775 3376 0.8 7.8
----------------------------------------------------------------------------
The initial exploration programs led by Dr. Hoy were designed to
identify Proterozoic-age structural basins similar to the Sullivan
basin. These programs successfully identified six structural
basins, which were each drill-tested by one or more widely spaced
holes. Initial drilling within the favorable Panda basin
intersected distal base metal sulphide mineralization at the right
Sullivan time horizon and was followed by additional holes to help
define the limits of the basin. These six previously drilled holes
also showed that the sulphide content is increasing to the south,
near the intersection of the basin axis with a northeast-trending
Proterozoic-age fault.
Drilling of the Irishman Target began in 2007, but stopped short
of the target depth because of heavy winter snow conditions.
Completing the drill hole was a priority project in 2008. The newly
released intercepts from this target, with combined lead and zinc
grades up to 0.9%, represent one of the highest - if not the
highest - grades of Sullivan horizon mineralization drilled in the
Purcell Supergroup outside of the Sullivan basin itself.
Furthermore, the relatively high metal values and the thick
Sullivan horizon suggest that the hole is near the center of the
Panda basin on possibly the fringes of more massive mineralization.
The nearest two drill holes to Sullivan time are located about 2 to
3 km to the east and northeast respectively.
Based on these encouraging results, the partners believe that
further exploration for Sullivan-type massive sulphide
mineralization in the Panda basin is warranted. Down-hole
geophysics, followed by step-out drilling to the north-northwest is
proposed toward a surface exposure of a small exhalite vent (the
Gerry vent).
The Panda basin is one of several small basins (including
Sullivan) that developed on an ocean floor nearly 1.6 billion years
ago as a result of regional extension and/or rifting. Detailed
studies of the Sullivan basin over many years have led to the
recognition of the controls of sulphide accumulation in this and
other basins. Klondike Gold recognized similar features in the
Panda Basin, which allowed it to systematically target the
projected source of sulphide accumulation. The Company has also
defined several other less-tested basins that remain exciting
exploration targets.
Exploration for massive sulphide mineralization at projected
depths of 1,000 to 1,500 meters is both difficult and expensive.
However the success of previous exploration programs in first
defining Proterozoic structural basins, then evaluating these
basins, and finally vectoring toward a sulphide source area with
limited, widely spaced deep drill-holes bodes well for future
exploration success in this prospective region.
The Qualified Person for the purpose of National Instrument
43-101 is Trygve Hoy, who has read and agreed with the contents of
this news release.
About Klondike Gold Corp
Klondike Gold is a large landholder in the Klondike District of
the Yukon Territory, an area which produced between six and twelve
million ounces of gold during its historic gold rush. The Company
also holds a 50% interest with partner Chalice Diamond Corp in
approximately 78,000 acres of diamond properties located in the
Chapleau-Wawa region of Ontario and a number of properties in
southeastern British Columbia.
Please visit the Company's website: www.klondikegoldcorp.com for
more information on the diamond properties in Ontario, our holdings
in the Klondike and our properties in southeastern BC. You will
also find Smartstox interviews with company President, Richard
Hughes located on the website.
The statements made in this Press 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 TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this news release.
Contacts: Hughes Exploration Group Kevin Hull Investor Relations
(604) 685-2222 info@klondikegoldcorp.com
www.klondikegoldcorp.com
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