October 31, 2013
NV and Vancouver, BC - October 31, 2013 - Klondex Mines Ltd. (TSX:
KDX or OTCQX: KLNDF), a Nevada gold exploration and development company,
is pleased to announce a second underground diamond drill rig
designated for exploration drilling will be at the Fire Creek gold
project in the first week of November to follow up on previously
identified exploration targets. The ongoing infill drilling program is
currently drilling the northern extensions of the Joyce and Vonnie
A three-phase exploration drilling program will initially target the
West Zone mineralization approximately 105m (345 ft) west of the ramp,
accessed from different points on the ramp. The West Zone was discovered
while drilling for the recently completed secondary egress (see press
release dated January 21, 2013). Klondex also drilled five holes west of
the ramp from MB 5400, and 97.5m (320 ft) south from the secondary
egress (see press release dated May 30, 2013).
Phase 1 drilling will take place from MB 5 to test the northern
extension of mineralization, 29.2m (96 ft) north of the secondary egress
Twenty holes, totaling 5,212m (17,100 ft), are planned in this phase of
drilling. Phases 2 and 3 of the drilling program, estimated at a total
of 5,000m (16,422 ft), are intended to test the southern extension and
tenor of the mineralization identified in earlier drilling from MB 5400.
The current infill program is designed to confirm the continuity of the
Joyce and Vonnie veins to the north and to test a parallel mineralized
structure east of the Vonnie vein. Five drill holes have been completed
from MB 6; logging is in progress and assays are pending. An additional
13 holes are planned, totaling 2,472m (8,110 ft), to test for up-dip and
down-dip continuity, as well as to better define the Joyce and Vonnie
veins to the south
Steve McMillin, Klondex Chief Geologist, commented, “This exploration
program is designed to continue building our current mineral resource
base, by drilling to the West, North and the Southern Main Zone, where
we have identified high-priority drill targets. We believe these new
targets will continue to demonstrate the high-grade nature of the
deposit within close proximity to the current underground development.”
The technical information contained in this press release has been
approved and verified by Steven L. McMillin, CPG-11031 (American Inst.
of Prof. Geol.), Chief Geologist for Klondex Mines Ltd., a
non-independent Qualified Person for the purposes of National Instrument
About Klondex Mines Ltd. (www.klondexmines.com)
Klondex Mines is focused on the exploration and development of its Fire
Creek gold project in North-Central Nevada. Fire Creek is permitted for
bulk sampling, with the necessary infrastructure in place and on site.
The project is located in a mining-friendly jurisdiction, near its toll
milling facilities, and major producers. As of October 31, 2013, and
assuming the conversion of the special warrants to shares, Klondex has
79.2mm shares issued and outstanding and 103.1mm shares fully diluted.
President & CEO
Klondex Mines Ltd.
Manager, Investor Relations
Klondex Mines Ltd.
Catalyst Global LLC
This news release contains certain information that may constitute
forward-looking information under applicable Canadian securities
legislation, including but not limited to, information about the
magnitude and quality of the Fire Creek Project, information about
current expectations regarding the planned exploration and drilling at
the Fire Creek Project and the potential expansion of mineralization
This forward-looking information entails various risks and uncertainties
are based on current expectations, and actual results may differ
materially from those contained in such information. These risks and
uncertainties include, but are not limited to the risks and hazards
associated with environmental compliance and permitting for its
underground operations, the strength of the global economy; the price of
gold; operational, funding and liquidity risks; the degree to which
mineral resource estimates are reflective of actual mineral resources;
the degree to which factors which would make a mineral deposit
commercially viable are present. 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 information
or to update the reasons why actual results could differ from such
information unless required by law.
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