May 13, 2013
& Elko, NV - May 13, 2013 - Through additional exploration and
metallurgical sampling, Klondex Mines Ltd. (TSX: KDX; OTCQX: KLNDF) is
pleased to announce significant visible gold mineralization on the Joyce
1, 2 and 3)
at the 5370 cross cut. As a result of the sampling, Klondex expects to
have a better understanding of the structure character, widths, grades
and metallurgy that will prepare the company to begin bulk sampling in
Q3 2013. Assays from the south segment returned a fully-diluted grade of
137.1 g/t (4 opt) gold over 2.4 m (8 ft). Assays from the north segment
are pending. Samples will be displayed at the Las Vegas MoneyShow May
14-16 at Booth #714.
Following the construction of the vent-raise egress, Klondex is
targeting to extract approximately 10,000 tons of material in 2013 as
part of to its bulk sampling program. Klondex’s targets for 2014 and
2015under the bulk sampling permit will be provided upon completion of
the updated mineral resource estimate, anticipated in June 2013.
The initial bulk sampling program is expected to begin between the 5370
and 5400 crosscuts in the Joyce and Vonnie structures where, in addition
to the sampling results announced today substantial gold mineralization
has been encountered by the two crosscuts, including (See press release
of Klondex dated October 31, 2012):
- 496.6 g/t gold (14.5 oz/ton) over 1.8m (5.9 ft) in the 5370 cross cut
- 95.5 g/t gold (2.2 oz/ton) over 0.9m (2.9 ft) at the 5400 cross cut
- 43.5 g/t gold (1.3 oz/ton) over 1.5m (4.9 ft) at the 5400 cross cut
Paul Huet, Klondex President and CEO stated, “We’re excited to be
encountering visible gold mineralization from further exploration,
especially as we’re preparing to begin the bulk sample program in Q3.
Fire Creek’s gold mineralization will allow us to be flexible and
reactive in today’s volatile gold environment. This is an extremely
important year for Klondex, as we finalize the resource model and mine
plan, complete the vent-raise egress, construct the rapid infiltration
basin and initiate bulk sampling from Fire Creek. Encountering this type
of visible gold mineralization only adds to the excitement surrounding
the Fire Creek project.”
Assays were determined by ALS Minerals of Reno, Nevada and Inspectorate
America Corporation of Sparks, Nevada, both independent analytical
The content of this press release has been reviewed by Steven L.
McMillin, CPG-11031 (American Inst. of Prof. Geol.), Chief Geologist for
Klondex Mines Ltd., as a non-independent Qualified Person for the
purposes of National Instrument 43-101.
About Klondex Mines Ltd. (www.klondexmines.com)
Klondex Mines is focused on the exploration and development of its Fire
Creek gold deposit in North Central Nevada. Fire Creek is a compelling
gold mining prospect located in a region of prolific gold production,
near power, transportation, mining infrastructure and several milling
facilities. As of April 29, 2013 Klondex had 64.4 million shares issued
and outstanding and 85.7 million shares on a fully diluted basis.
President & CEO
Klondex Mines Ltd.
Manager, Investor Relations
Klondex Mines, Ltd.
Catalyst Global LLC
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