Klondex Mines Drilling Details Three Mineralized Structures in the West Zone
January 20 2014 - 6:30AM
Marketwired
Klondex Mines Drilling Details Three Mineralized Structures in the
West Zone
RENO, NEVADA and VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan
20, 2014) - Klondex Mines Ltd. (TSX:KDX)(OTCQX:KLNDF), a Nevada
gold exploration and development company, today announces assay
results from its exploration drill program being conducted west of
the main decline at its Fire Creek gold project near Elko, Nevada
(Table 1).
Drill hole FC-13-120U (Figure 1) drilled from Muckbay 5 (MB5)
and located approximately 30.5 m (100 ft) north of the vent raise
access discovery (January 21, 2013) encountered three significant
intervals of mineralization starting approximately 39.6 m (130 ft)
west of the main decline and 67.1 m (220 ft) west of the Joyce
Vein. Previously drilled surface holes, underground drill holes,
and underground rib sampling suggests continuity of mineralization
of three distinct structures in this west zone, ranging in strike
length from 243.8 m (800 ft) to 335.8 m (1,100 ft) and are open
along strike and up and down dip.
These structures are all parallel to the Joyce and Vonnie veins
with similar distances between each. All three structures were
crosscut during development work. The current drill program
continues to focus on drilling to increase the confidence in the
mineralization along these three structures. Future drilling will
also step out to the north and south, along the main decline, to
continue testing the extensions of all mineralized structures.
Hole No. |
|
AZI |
|
DIP |
|
Drill Station |
|
Length |
|
LENGTH |
|
From |
|
To |
|
Length |
|
From |
|
To |
|
Length |
|
Grade |
|
Grade |
|
|
|
|
|
|
|
|
(m) |
|
(ft) |
|
(meters) |
|
(meters) |
|
(meters) |
|
(ft) |
|
(ft) |
|
(ft) |
|
(g Au/ Tonne) |
|
(oz Au/st) |
FC-13-120U |
|
260 |
|
0 |
|
DDS 20 / MB 5 |
|
147.6 |
|
484.2 |
|
14.1 |
|
14.6 |
|
0.55 |
|
46.2 |
|
48 |
|
1.8 |
|
96.1 |
|
2.803 |
and |
|
|
|
|
|
|
|
|
|
|
|
18.2 |
|
18.5 |
|
0.30 |
|
59.8 |
|
60.8 |
|
1 |
|
11.6 |
|
0.338 |
and |
|
|
|
|
|
|
|
|
|
|
|
49.7 |
|
51.9 |
|
2.19 |
|
163 |
|
170.2 |
|
7.2 |
|
14.8 |
|
0.430 |
and |
|
|
|
|
|
|
|
|
|
|
|
102.7 |
|
103.6 |
|
0.91 |
|
337 |
|
340 |
|
3 |
|
28.4 |
|
0.828 |
Table 1: Drill Hole FC-13-120U, true widths are
unknown |
Mike Doolin, Klondex General Manager stated, "We are very
excited with the recent results from Fire Creek's drill program.
This drilling demonstrates the potential of the Fire Creek deposit
to host multiple parallel mineralized structures. Our 2014 program
is designed to strengthen our knowledge of the deposit and to
expand the current resources."
The technical information contained in this press release has
been approved and approved by Marc Odell. He is the Klondex acting
Independent Qualified Person (Nevada PE 13708 and SME 2402150) for
Practical Mining LLC, and has reviewed and approved the contents of
the press release, for the purposes of National Instrument
43-101.
Assays were performed by SGS Minerals Services of Elko, Nevada
(an independent laboratory), under the supervision of Klondex
staff. For additional sampling parameters, please see the press
release dated September 30, 2013.
About Klondex Mines Ltd. (www.klondexmines.com)
Klondex Mines is focused on the exploration and development of
its high-grade Fire Creek gold deposit in north central Nevada.
Fire Creek is a compelling gold project located in a
mining-friendly jurisdiction, near major producers, power,
transportation, mining infrastructure and its toll milling
facility. As at January 20, 2014, following the closing of the
Offering, the Company had 103 million shares issued and outstanding
and 135 million shares fully diluted. This news release
contains certain information that may constitute forward-looking
information under applicable Canadian securities legislation,
including information about the magnitude and quality of the Fire
Creek Project the results of exploration and metallurgical sampling
at the Fire Creek Project, the Company's intention and ability to
monetize mineralized material, timing of the updated mineral
resource estimate at the Fire Creek Project and the bulk sampling
program. This forward-looking information entails various risks and
uncertainties are based on current expectations, and actual results
may differ materially from those contained in such information.
These risks and uncertainties include, but are not limited to the
risks and hazards associated with environmental compliance and
permitting for its underground operations, 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.
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 information or
to update the reasons why actual results could differ from such
information unless required by law.
Klondex Mines Ltd.Paul HuetPresident &
CEO1-775-284-5757investors@klondexmines.comKlondex Mines Ltd.Alison
TullisManager, Investor
Relations1-647-233-4348atullis@klondexmines.comwww.klondexmines.com
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