Figure 3: Visible Gold Mineralization Discovered In "lifter" Blast Holes In The Bottom Center Of The Access Ramp 5370-RM Face, Approximately 3 Meters East Of The Planned Vent Raise Terminus. (Photo: Business Wire)
Klondex Mines Ltd. (TSX: KDX or OTCQX: KLNDF), a Northern Nevada gold exploration and development company, announces the discovery of new gold mineralization at its flagship Fire Creek project. The discovery ( Figure 1 click here) is approximately 165 meters (540 feet) west of the A-Vein mineralization, which forms part of the Main Zone, and represents a new unexplored zone. Klondex intersected 123.9 grams/tonne gold (3.6 oz/ton) over 1.5 Meters (5 feet) while completing a geotechnical drill hole for the design of the planned vent raise. Klondex also encountered visible gold mineralization in three locations in the area: on the left rib of the nearby drift (Figure 2), in a drill hole at the base of the access ramp 5370-RM (Figure 3), and in the geotechnical hole, approximately 6 meters (20 feet) above the access ramp (Figure 4) Click here for Figures 2, 3 & 4 .
Figure 3: Visible gold mineralization discovered in "lifter" blast holes in the bottom center of the access ramp 5370-RM face, approximately 3 meters east of the planned vent raise terminus. (Photo: Business Wire)
Paul Huet, CEO of Klondex, commented, “We are very excited by this new discovery at Fire Creek.. A discovery of this nature demonstrates that Fire Creek remains under-explored and that ongoing exploration could lead to other zones providing potential growth for Klondex.
“We have designed our underground in-fill drilling program to tighten the drill spacing in the Main Zone to include 16 easterly drill fans of three to four drill holes each, totaling 9,754 meters (32,000 feet). This will refine our resource model with additional data and hopefully identify new areas of mineralization. As a result of the new gold mineralization found in the vent raise access we will be expanding our program to the west as part of Phase 2”.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts