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| UPCOMING EVENTS |
Mar. 7-10 - Toronto PDAC Investor Exchange
Booth #2835
Mar. 30-31 - Mines and Money Hong Kong Stand 35
May 18 - Geological Society of Nevada Symposium
Session: Exploration Technologies - Geophysics
Fire Creek Deep Mineralization Defined
with Detailed Gravity, CSAMT and MT
Stay tuned for updates or request to be added to our e-mail list by clicking here.
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Mar 04, 2010: News: Klondex to Review Underground Program at PDAC Booth #2835 (more...)
Mar 02, 2010: News: Klondex Builds Management with Two Strategic Hires (more...)
Jan 20, 2010: News: High-Grade Gold Veins Discovered East of Main Zone in Klondex's 2009 E... (more...)
Apr 3, 2009: Updated 43-101 Resource Report (more...)
Lander County
Nevada
Updated: 04-Mar-10
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When the Company entered into the search for gold in the mid-seventies, its organizing concept was to grow as a strategic land bank and royalty trust, and it's motivating force was the work of Dr. Ralph Roberts who pioneered the idea of sub-microscopic gold deposits. His famous paper published in 1960 entitled, "Alignment of Mining Districts in North-Central Nevada" was the catalyst for all subsequent development in the parallel Carlin and Battle Mountain trends and the evolution of the heap-leach method of extraction. He stated as recently as 1988 that "probably only 15 to 25% of those belts have been adequately explored".
A good gauge of Nevada's potential can be gleaned from the fact that in 1980 a mere 250,000 ounces were produced there. This figure climbed to 1 million ounces in 1985 and then to 8.25 million ounces in 1999 while the total for the rest of the Untied States was 3.45 million ounces and the rest of the world was 106.2 million ounces. That 8.25 million ounces was 75% of total U.S. and 10% of total world production, making Nevada the third largest producer in the world behind the countries of South Africa and Australia. South Africa, long identified with gold, was 21% of world production.
Nevada has long been associated with silver and it is still too soon for it to be known as the "Gold State" or have the public identification that South Africa has had for the last one hundred years. Since 1980, a total of $10 billion has been invested in the Nevada gold mining industry through exploration and expenditures on plant and equipment. This must be taken as a solid vote of industry confidence in the future because several of the world's largest deposits have been discovered there and economies of scale have given them some of the lowest production costs.
The property at Fire Creek as well as the Corral Canyon, Woodtick and Hot Point Springs claims are located in the Crescent Valley area of the Battle Mountain gold belt while the claims at Maggie Creek are in the Carlin Trend. The Company also owns a small 8 claim property in the Fairchild District of Churchill County known as the "Reef Claims."
The crown jewel of the Company's land bank is the 11,000 acre property at Fire Creek in Lander County. Aurenco Partners, under contract to develop and mine the property, opted out after ten years due to adverse conditions in the gold market, having spent $4.25 million. on the project. A substantial geological data-base had been accumulated by April 30th, 1999 when the joint-venture agreement with Aurenco was terminated.
The balance of the Company's acreage amounts to 95 claims in strategic locations elsewhere in the Battle Mountain and Carlin trends, including an 8 claim group, the "Reef" claims, situated in Churchill County near Fallon. Each claim consists of 20 acres.
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