Klondike Gold Corp. (TSX.V: KG; FRA: LBDP; OTCQB: KDKGF) ('Klondike Gold' or the 'Company') is pleased to provide an update on current exploration/development activities and 2023 objectives at the Klondike District Property (the 'Property') spanning 729 square kilometers located in the Dawson mining district, Yukon, Canada.
Highly favorable results from academic research programs initiated in 2022 have: supported a younger age to the gold mineralizing event (coincident with Mother Lode District, California); constrained the age of mineralizing structures; documented association of gold with tellurides and silver sulfosalts; detected mappable hydrothermal alteration associated with gold mineralization for the first time; suggested SWIR ('short wave infrared) imaging may be practical as an 'instant analysis' tool to detect gold-bearing alteration.
Prospecting, mapping, and rock sampling programs are targeting known and new areas throughout the Property using geochemical and structural criteria derived from this new research. Results will rank targets for diamond drilling.
Diamond drilling 2,000 meters allocated for newly generated targets is planned to begin in July. Contingent targets considered include follow-up of Gold Run drill hole GR18-162, which assayed 1.23 g/t Au over 13.5 meters1 and further testing of Stander Zone mineral resources2 and Gay Gulch Showing mineralization.
Peter Tallman, Klondike Gold's President & CEO states, 'Research has constrained the age of the Klondike District's bedrock mineralization and geochemical/structural environment from which the famous 20M oz historical gold placer endowment was derived. These results have considerable beneficial implications for the Company's 100% owned Klondike District Property and immediately focus the Company's exploration efforts towards targeting new drill discoveries. Management maintains its view the Klondike District Property has exceptional overlooked potential for discovery of multiple gold deposits.'
The 2023 exploration program is influenced by new science studies (involving University of Ottawa, University of Toronto, Dalhousie University, and Colorado School of Mines / CASERM) including three recently concluded HBSc theses and ongoing MSc, PhD, and Colorado School of Mines research efforts.
From these efforts, graphitic thrusts within the Klondike District have peak metamorphic temperatures at c.450oC interpreted to represent pre-mineralization structures. Gold mineralization temperatures based upon fluid inclusions are c.250-300oC thus retrograde following peak metamorphism (i.e. younger). Gold in SEM (scanning electron microprobe) and thin section work has association with telluride, silver sulfosalts and barium. Zones of specific micaceous minerals surrounding high gold-bearing quartz vein intersections potentially indicate an alteration halo useful to vector toward higher gold grades.
Applying these findings, prospecting and mapping surveys are already underway targeting fault structures interpreted from LIDAR with silver-tellurium-gold anomalous soils and rocks in areas of reported cross-cutting gold-bearing veins. Gold hosted in late cross-cutting sheeted veins hosts the mineralization contained in the Company's initial 2022 mineral resource estimate at the Lone Star and Stander Deposits.
An initial drill program of 2,000 meters testing prospective mineralization is planned to begin in July. Allocation of drill meterage to new prospective targets, expansion of Stander and Lone Star Deposit mineral resources, and testing Gay Gulch mineralization are subject to revision as results progress throughout the season.
UPCOMING EVENTS
Klondike Gold will be participating in the following recent or upcoming events.
ABOUT KLONDIKE GOLD CORP.
Klondike Gold is a Vancouver based gold exploration company advancing its 100%-owned Klondike District Gold Project located at Dawson City, Yukon, one of the top mining jurisdictions in the world. The Klondike District Gold Project targets gold associated with district scale orogenic faults along the 55-kilometer length of the famous Klondike Goldfields placer district. Multi-kilometer gold mineralization has been identified at both the Lone Star Zone and Stander Zone, among other targets. The Company has identified an Initial Mineral Resource of 469,000 Indicated and 112,000 Inferred gold ounces1, a milestone first for the Klondike District. The Company is focused on exploration and development of its 729 square kilometer property accessible by scheduled airline and government-maintained roads located on the outskirts of Dawson City, Yukon, within the Tr'ondek Hwech'in First Nation traditional territory.
Contact:
Tel: (604) 609-6138
Email: info@klondikegoldcorp.com
Web: www.klondikegoldcorp.com
Certain statements contained in this news release constitute 'forward-looking statements'. When used in this document, the words 'anticipated', 'expect', 'estimated', 'forecast', 'planned', and similar expressions are intended to identify forward-looking statements or information. These statements are based on current expectations of management, however, they are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking statements in this news release. Readers are cautioned not to place undue reliance on these statements. Klondike Gold does not undertake any obligation to revise or update any forward-looking statements as a result of new information, future events or otherwise after the date hereof, except as required by securities laws.
KLONDIKE GOLD CORP. 
