VANCOUVER, BC (PINKSHEETS: KLSVF) is pleased to report that the
2008 regional exploration program is well underway in their Slocan
camp holdings located near New Denver in southeastern B.C. The
Company holds more than 10,000 hectares of claims and crown grants
in the Slocan district, including numerous past producing mines
such as the Silvana, Hinckley, Wonderful and Van Roi, and a fully
permitted and operational 100 ton/day mill located near the
historical mining town of Sandon in the heart of the belt.
The area has been broken down into six distinct areas for
exploration as shown on map below and the expandable map located on
the Klondike Silver website at www.klondikesilver.com. These
include the main Sandon camp itself, Cody Creek immediately to the
east, the Payne Mine area to the north and the Silverton Creek area
to the south. Farther south, the Hewitt-Van Roi camp is centered on
two past producers and to the northeast is the Jackson Basin
exploration area.
The central area, the Sandon camp, includes one of the largest
past producing mines as well as numerous smaller past producers,
and has been the focus of much of Klondike Silver's surface and
underground exploration for the past several years. It is currently
producing from an extension of the McLanders vein on the Wonderful
property and Silvana Mine and contains the Hinckley Mine deposit,
scheduled to commence production within a few weeks. Past
production from the Sandon camp area totals 731,980 kg (25,819,834
oz) silver, 103,409,796 kg (227,979,575 lbs) lead and 55,320,103 kg
(121,959,950 lbs) zinc from the seven main producers. Current work,
detailed in a recent press release, (June 24, 2008) includes
underground rehab and follow-up exploration on an airborne
geophysical survey and several coincident geophysical (VLF-EM) and
soil geochemical anomalies. In particular, a soil geochemistry
program completed on the north side of Carpenter Creek in 2007
indicates possible continuity of up to eight distinct east-west
structures that align to old workings. Moreover, new anomalies
appear in the intervals between known structures. Follow-up
exploration on these anomalies will include prospecting, sampling
and eventually, trenching.
The Cody Creek area includes the eastern projection of the two
largest producing veins in the Sandon camp, the Silvana lode and
A.E. Adams lode. The past producing Richmond-Eureka, Silversmith
and Slocan King mines occur along these eastern extensions. A 2007
soil geochemistry program, targeting the area east of the known
producing mines, identified several linear anomalies that are
coincident with these trends. Additional soil geochemistry and
prospecting of these areas, followed by trenching, is scheduled for
the 2008 season.
Exploration of the Payne Mine area, located on the slopes and
ridges north of Carpenter Creek, is restricted to a reconnaissance
soil survey in 2007. The soil grid will be extended to the north
this coming season, and several anomalous areas recognized from the
2007 survey require infill lines and sampling, followed by ground
geophysics, and dependent on results, trenching.
The Jackson basin, located in the northeastern part of the
Slocan area, is centered on several small, but reportedly high
grade east trending veins. Known BC Minfile deposits and
occurrences include Jackson, Dublin Queen and Towser, and
prospecting by Klondike Silver discovered a new vein located in the
northwestern part of the area. Exploration in 2007 included
extending an earlier soil grid, and trenching one of the known
occurrences, Stenson, (which contained grab samples with up to 53
oz/ton silver) with only limited success. A subsequent ground
geophysical survey has demonstrated more clearly the trend of this
vein and future trenching will be more accurately controlled. Soil
sampling in the Jackson basin, currently underway, will be
completed in 2008, and a ground geophysical survey is being
extended between the known occurrences along areas marked by
prominent airborne linears.
Little exploration has been done by Klondike Silver in the
Hewitt-Van Roi area in the southern part of the Slocan Silver camp.
The area has produced more than 146 million grams (5,149,998 ozs)
silver, 10,800,000 kg (23,809,924 lbs) lead and 9, 370,000 kg
(20,657,313 lbs) zinc. The 2008 program will include a regional
soil survey between the two past producing mines, additional
prospecting and, as in all areas, both reconnaissance and detailed
geological mapping. This program, currently underway, has
identified several new targets that will be followed up by a ground
geophysical survey, sampling and eventually trenching.
The final exploration area, the Silverton Creek basin, is
possibly the least explored of all the areas. Several lodes,
including Klondike Silver's Canadian deposit, occur along its
northern edge and probably form part of a discontinuous
east-trending vein system that extends from the Wakefield to the
Ivanhoe. As in other areas, initial exploration of the area will
include a soil program followed by prospecting and geological
mapping.
All past and ongoing exploration data is currently being
converted and compiled in digital format onto common base maps at
the new field office at Roseberry, just north of New Denver. This
allows ready comparison and integration of all data, including
surface and airborne geophysics, soil surveys, prospecting, and
mapping, which will lead to more accurate and controlled
delineation of trenching targets.
The exploration program is under the supervision of Dr. Trygve
Hoy (P. Eng.) who has more than 30 years of mineral deposit
research and exploration experience in southeastern British
Columbia. The exploration team is managed by Dave Good (B.Sc.
Geology) with more than 10 years of exploration and mine geology
experience in Canada. Mike Seabrook (B.Sc. Geology) will be
conducting much of the regional geological mapping and will lead
the exploration of the Hewitt, Van Roi, Silverton Creek and Jackson
basin areas. Also included in the exploration group is a geophysics
technician (B.A. Belton) and two soil sampling crews. As well,
several prospecting teams and additional contract soil samplers are
employed. The systematic exploration of these blocks of the Slocan
Silver camp will hopefully lead to the discovery of additional
lodes or extensions of known deposits. Recent exploration of many
of these areas has been limited and due to the previously
fragmented nature of land holdings, has been patchy and
sporadic.
Klondike Silver's president and chairman Mr. Richard Hughes
states, "I am excited by the program Dr. Trygve Hoy has implemented
as this will be the first time in the history of the Slocan Silver
Camp that historical data and exploration is being combined with
the newest scientific and technical methods of exploration
available." He goes on to say, "Our extensive land package allows
for an assessment of the area not previously possible. Combined
with an exploration team that is outstanding, we expect great
things to come out of our approach to exploration in this
area."
About Klondike Silver
Klondike Silver Corp. has assembled a quality portfolio of
silver and silver-rich poly-metallic properties in historic mineral
districts of North America, and is applying advanced exploration
technologies to add value to these core assets. The Company holds
more than 10,000 hectares of claims and crown grants in the
"Silvery Slocan" district, including numerous past-producing mines
and a fully permitted and operating 100 tons per day mill near the
historic mining town of Sandon, B.C.
Klondike Silver is reviving the historic Gowganda and Elk Lake
silver camps in Ontario, and is exploring silver-rich poly-metallic
targets in the world-famous Klondike district of Yukon Territory.
The Company has also recently optioned eight high-potential mineral
concessions in under-explored historic mineral districts of
Mexico.
Klondike Silver is a member of the Hughes Exploration Group of
Companies and is led by a team with a stellar track record of
discovery and development in Canada.
To view a map of Klondike Silver Corp. Slocan Silver Camp,
please click on the link provided:
http://www.klondikesilver.com/i/pdf/08-07-02-Slocan-3.pdf
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this news release.
Distributed by Filing Services Canada and retransmitted by
Marketwire
Contact Information Corporate Inquiries: Kevin Hull or Alan
Campbell (604)-685-2222 Email: Email Contact or visit Klondike
Silver's web-site: www.klondikesilver.com to see Smartstox
interviews with Company Chairman and President Richard Hughes.
AGORACOM Investor Relations Email: Email Contact Website:
http://www.agoracom.com/ir/KlondikeSilver For a larger expandable
view, please check our website at www.klondikesilver.com Klondike
Silver Corp. #711-675 West Hastings Street Vancouver, B.C. Canada
V6B 1N2 Telephone: (604) 685-2222 Fax: (604) 685-3764
www.klondikesilver.com
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