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Jul 14, 2010: News: Klondex Sets Term Sheet for $10 - $20 Million in Gold-Backed Financing... (more...)
Jul 06, 2010: News: Klondex Mines Appoints Mining Veteran Blane Wilson President and COO (more...)
Jun 22, 2010: News: Klondex and Paramount Agree to Release of Claims and Dismissal of Liti... (more...)
Lander County
Nevada
Updated: 22-Jul-10
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| |   Tue Jan 18, 2005
Klondex Begins Phase 3 Drilling on 100% Owned Fire Creek Gold Property in the Battle Mountain-Eureka Trend in Nevada
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| | Vancouver, British Columbia: Klondex Mines Ltd. (the "Company") announces the start up of Phase 3 drilling program at its 100% owned Fire Creek Property, located on the Northern Nevada Rift in the Battle Mountain-Eureka Trend in Nevada. Phase 3 is planned to consist of 9 drill holes totaling 3,325 meters (10,900 feet). Some holes will be "pre-collared" with a reverse circulation drill to a pre-determined depth and then completed to target depth with a diamond drill rig. Table 1 lists the locations and targets for all holes to be drilled by the Company by section. Figure 1 is a plan map of the drill hole and gold vein locations.
The completion of Phase 3 drilling is conditional upon weather conditions and may be altered in size and order as logistical circumstances dictate.
Phase 3 will determine the vertical extent of several previous high-grade vein intercepts, including those previously reported in drill hole 0417 (high of 1.52 m (5 ft) of 411 GRAMS P.T. or 12.001 ounces P.T. GOLD).
Once the permits for additional drill sites are received, the Company plans an aggressive step-out program in Phase 4 to increase the extent of known mineralization and test other prospective areas along the mineralizing structures on the Fire Creek Property. The Company is also reviewing data on its other properties in Nevada, including its Reef property in Churchill County, for possible exploration activity in 2005.
Richard Kern (P.Geo) of Reno, Nevada, is the Company's qualified person on the project as required under NI 43-101 and has reviewed the technical information contained in this press release.
The Company has in place a rigorous QA/QC program consistent with National Instrument 43-101 and using best industry practice. ALS Chemex Labs of Reno, Nevada is responsible for all the Company's assaying.
Klondex Mines was founded in 1974 and is a Tier two exploration company listed on the TSX Venture Exchange under the symbol "KDX". The Company's property portfolio contains five gold exploration projects (approximately 10,000 acres) all in Nevada. A description of these projects, including maps and photographs can be viewed on the Company's website at: www.klondexmines.com
ON BEHALF OF KLONDEX MINES LTD.
"William J. Solloway"
President & Director
For further information contact
William Solloway, President - 917-306-3679 or
Robert Eadie, Executive Vice President - 604-602-4935
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. In addition, this release is not for distribution to U. S. newswire services or for dissemination in the United States. The Company seeks safe harbour.
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