Klondike Silver Corp. Commences Drift Extension Into Lode Structure to Test for Mineralization
October 07 2009 - 2:15PM
Marketwired
Klondike Silver Corp. (TSX VENTURE: KS) (the "Company") is pleased
to announce that lateral drifting westerly has commenced from the
underground west extension of the main access "4625 Level" of the
Silvana Mine. This heading is starting to cross-cut the lode
structure intersected in a recent drill program (see news release
August 27, 2009). The planned 100 meter drift is the first into a
1.5 km long unexplored, underground segment of the productive and
historic "Main Lode" structure which is the principal source of the
Slocan mining camp's silver/lead/zinc production.
"We are pleased to announce the commencement of this new drift
into an area of the Slocan that has never been explored," comments
Company President, Richard Hughes. "Intersecting the lode structure
this early in our underground efforts is extremely encouraging as
over 1.5 km of unexplored ground remains to be tested. Our efforts
are now focused on determining whether or not this extension of the
lode structure is mineralized and if so to what extent."
To view a map of the 2009 drilling and target area please click
on the following link (if the link does not open cut & paste it
into your browser address bar):
http://www.klondikesilver.com/i/pdf/NewMailLodesection.pdf
The initial underground diamond drilling program consisted of
four BQ size holes totaling 363.6 meters. Geology intersected in
the initial drilling includes structure having characteristics
typical of the Main Lode as mined in the Silvana mine. These
characteristics are interpreted as belonging to this major and
important feature whose location and identification are critical
factors in the exploration effort.
The Main Lode is over 8 km long, extending from Silverton on
Slocan Lake in the west to Sandon in the east through the "Silver
Ridge" of the Selkirk mountains approximately 50 km north of
Nelson, BC.
Silvana mine production to date is approximately 8 million
ounces of silver and over 30,000 tons each of lead and zinc from
approximately 550,000 tons of millfeed mined from a 1.5 km section
of the Main Lode under Silver Ridge. The section was explored,
developed and mined from by the Silmonac Syndicate and its
successors including Kam-Kotia Mines Limited, Silvana Mines Inc.,
Dickenson Mines Limited and Treminco Resources Ltd. almost
continuously from 1970 to 1993, until low metal prices resulted in
its closure.
The Company holds the ground on the next approximately 1.5 km to
the west of this productive zone, to within 500 meters of the
Mammoth mine. The current program represents the first attempt
since the early 1990's to explore westerly towards the Mammoth and
the other major Main Lode producers towards Silverton.
The Qualified Person for the purpose of National Instrument
43-101 is Ed Craft, PEng, who has read and agreed with the
technical information in this news release.
About Klondike Silver:
Klondike Silver Corp. has assembled a quality portfolio of
silver properties in historic mineral districts in North America,
and is applying advanced exploration technologies to add value to
these core assets. Klondike Silver is reviving the Gowganda and Elk
Lake silver camps in Ontario, and the world-famous Klondike
district of Yukon Territory. The Company owns a 100 TPD fully
operational flotation mill in Sandon, BC, which is currently
processing material from one of its Yukon properties and local
mines in the historic Slocan Silver Camp.
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.
Visit Klondike Silver's web-site: www.klondikesilver.com to see
Smartstox interviews with Company President, Richard Hughes.
The statements made in this news 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 or contents of this news release.
Contacts: Corporate Inquiries: Klondike Silver Corp. Kevin Hull
or Alan Campbell (604)-685-2222 info@klondikesilver.com AGORACOM
Investor Relations KS@agoracom.com
http://www.agoracom.com/ir/KlondikeSilver
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