Klondex Encounters Two Gold Veins with 95.5 g/t (2.79 oz/ton) Gold over 0.9 meters (3.0 feet) & 43.5 g/t (1.27 oz/ton) Gold o...
31 Outubro 2012 - 11:52AM
Business Wire
Klondex Mines Ltd. (TSX: KDX) (OTCQX: KLNDF) is pleased to
report that two gold-rich vein structures were encountered during
underground exploration development of the Main Zone at its Fire
Creek gold project in Lander County, Nevada.
As part of the on-going underground resource delineation,
Klondex constructed two crosscuts through the Main Zone. This
development work enables Klondex to follow up on the previously
reported drill holes reported in September. More importantly it
allows for increased understanding of the physical nature of the
structures, namely the FC12-11S hole, which returned 2,910
g/t (85 oz/ton) gold across a true thickness of 1.5 meters (4.8
feet) (Figure 1 click here and
Figure 2 click here).
ACC5360, the southern crosscut, was excavated to a length of
104 meters (340 feet), and the northern crosscut, ACC5355,
is currently 79 meters (260 feet) in length. The crosscuts are
approximately 76 meters (250 feet) apart. Mapping and sampling of
the crosscuts, combined with previous surface drill hole results,
support continuity of structure and grade of veins within the Main
Zone.
Paul Huet, Klondex’s President & CEO, commented, “These
crosscuts have provided further evidence of the continuity and
grades of Main Zone gold mineralization at the heart of the Fire
Creek deposit. Importantly, these vein structures remain open to
the north, south and at depth; they will be the subject of future
exploration seeking to unlock the value of this resource.
“We plan to resume infill drilling from underground, while we
re-log the historical core holes to build an improved geological
model. These efforts will assist us in the development of a formal
mining plan. In the coming months we plan to report assay results
from the underground development and the balance of the previous
underground drilling. We also plan an updated NI 43-101 compliant
resource estimate, under the direction of Micon International,
which is targeted for completion in Q3 2013.”
The two veins intersected by the crosscuts are reviewed as
follows:
•
The A-Vein grades 95.5 g/tonne
(2.79 oz/ton) over a true thickness of 0.9 meters (3.0 feet) in the
southern ACC5360 crosscut. The vein also appears to have been
encountered over a true thickness of 1.8 meters (6.0 feet) in the
northern ACC5355 crosscut, where assays are pending. The vein is
vertical to steeply-west dipping and trends approximately N20W. It
has sharp gold-grade boundaries, and consists primarily of
bladed-calcite quartz within a 0.2-0.4 meter (0.7–1.3 foot)
pyrite-clay breccia alteration envelope.
The vein can be traced over a length of
114 meters (375 feet) in crosscuts and drill holes, and remains
open along strike to the north and south. Using the 6 drill holes
and the ACC5360 crosscut which define this portion of the A-Vein,
and excluding internal waste in two of the drill hole intercepts,
the vein has a weighted average grade of 74.8 g/tonne (2.18 oz/ton)
gold over an average true width of 1.0 meter (3.1 feet).
•
The B-Vein grades 43.5 g/tonne
(1.27 oz/ton) over 1.5 meters (5 feet) in the ACC5360 crosscut. It
is located approximately 22 meters (72 feet) east of the A-Vein in
the crosscut. The vein dips steeply west, and trends N10-15W. The
vein has sharp gold-grade boundaries and consists of a series of
sheeted veins 2-4 cm (0.8-1.6 inches) thick in a sheared,
brecciated clay-pyrite matrix.
It can be traced over a length of 114
meters (375 feet) and remains open along strike to the north and
south. Using the 11 drill holes and the ACC5360 crosscut which
define this portion of the B-Vein, the vein has a weighted average
grade of 249.8 g/tonne gold uncut (7.27 oz/ton) or 63.8 g/tonne
(1.86 oz/ton) when cut to 182.3 g/t gold (5.3 oz/ton) over an
average true width of 1.0 meter (3.3 feet).
About Klondex Mines Ltd. (www.klondexmines.com):
Klondex Mines is focused on the exploration and development of
its Fire Creek gold deposit in North Central Nevada. Fire Creek is
a compelling gold mining prospect located in a region of prolific
gold production that is near power, transportation, mining
infrastructure and several milling facilities. As of October 30,
2012, Klondex had 47.4 million shares issued and outstanding and
59.7 million shares on a fully-diluted basis.
Sample results cited in this news release were obtained from
crosscut drifting by SMD, an independent contractor working under
the direction of Klondex staff. Assays were determined by Pinnacle
Analytical Laboratories, Lovelock, Nevada, and Inspectorate America
Corporation, Sparks, Nevada, both independent analytical
laboratories.
The content of this press release has been reviewed by Steven L.
McMillin, CPG-11031 (American Inst. of Prof. Geol.), Project
Manager and Chief Geologist for Klondex Mines Ltd., as a
non-independent Qualified Person.
This news release contains forward-looking statements, including
about current expectations on the timing of project development.
These forward-looking statements entail various risks and
uncertainties, are based on current expectations, are subject to a
number of uncertainties and risks, and actual results may differ
materially from those contained in such statements. These
uncertainties and risks include, but are not limited to, the
strength of the global economy; the price of gold; operational,
funding and liquidity risks; the degree to which mineral resource
estimates are reflective of actual mineral resources; the degree to
which factors which would make a mineral deposit commercially
viable are present; the risks and hazards associated with
underground operations. Risks and uncertainties about the Company’s
business are more fully discussed in the Company’s disclosure
materials filed with the securities regulatory authorities in
Canada and available at www.sedar.com. Readers are urged to read
these materials. Klondex assumes no obligation to update any
forward-looking statement or to update the reasons why actual
results could differ from such statements unless required by
law.
On Behalf of Klondex Mines Ltd.Paul
Andre HuetPresident & CEO
Klondex Mines Ltd. (AMEX:KLDX)
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