March 7, 2013
NV & Vancouver, BC - March 7, 2013 - Klondex Mines Ltd. (TSX: KDX;
OTCQX: KLNDF) today reported encouraging results from its 2013
underground in-fill drill program at its Fire Creek gold project in
Lander County, Nevada. The drilling program is designed to demonstrate
the Main Zone’s continuity for inclusion in the updated resource
estimate and to provide additional data to guide initial bulk sampling.
The first two holes drilled in 2013 encountered
significant gold mineralization demonstrating further continuity of the
Main Zone’s A- and B-Veins between the 5370 and 5400 crosscuts. Two
additional holes have been completed with assays pending.
Mike Doolin, General Manager of Fire Creek commented,
“Our in-fill drilling program is off to a very positive start. We are
getting a clearer picture of where the veins are located between the
crosscuts. The two drill holes successfully intercepted both the A- and
B-Veins. “Not only are we encouraged by the continuity of both the A-
and B-Veins, but also by the multiounce gold grades encountered in
several intercepts. The rock is competent, the drilling program is
progressing well, and we are excited to see additional data from this
||Total Depth (m)
||True Thickness (m)
||Gold Grade (g/t)
||Gold Grade (oz/t)
Table 1: Drill hole intercepts from Drill Fan 9.
Samples cited in this news release were obtained from
in-fill drilling by independent contractor American Drilling under the
direction of Klondex staff. Assays were determined by ALS Minerals in
Reno Nevada, an independent analytical laboratory. Klondex is not yet
able to determine true widths in certain areas.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
About Klondex Mines Ltd.
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 that is near power, transportation, mining
infrastructure and several milling facilities. As of March 6, 2013
Klondex had 64.4 million shares issued and outstanding, and 85.3 million
shares on a fullydiluted basis.
President & CEO
Klondex Mines Ltd.
Manager, Investor Relations
Klondex Mines Ltd.
Catalyst Global LLC
This news release contains
forward-looking statements, including about current expectations on the
timing of project development. These forward-looking statements entail
various risks and uncertainties, are based on current expectations, and
actual results may differ materially from those contained in such
statements. These risks and uncertainties include, but are not limited
to the risks and hazards associated with environmental compliance and
permitting for its underground operations. 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
statement or to update the reasons why actual results could differ from
such statements unless required by law.
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