June 27, 2013
NV & Vancouver, BC - June 27, 2013 - Klondex Mines Ltd. (TSX:
KDX; OTCQX: KLNDF) (“Klondex” or the “Company”) is pleased to announce
the results of additional exploration drifting and metallurgical
sampling on the Vonnie vein at its Fire Creek gold project in Nevada.
Highlights of the channel sampling results (Figures
1 and 2
) include assays of 20,231 g/t (590 opt) Au, 15,891 g/t (463 opt) Au at
69ft and 22,396g/t (653 opt) Au, 63ft, 69ft and 74ft north of the 5400
cross cut, respectively. The complete set of results of channel sample
assays is set out in Table 1 below.
5400 Vonnie B1 North Vein
The high-grade gold mineralization was encountered while following-up on
a surface drill intercept from FC-12-11S that returned 2,910 g/t Au (85
opt Au) over 1.5m (4.8ft) as announced on September 24, 2012. As a part
of the exploration and sampling program, Klondex is assaying the Vonnie
vein after each exploration round.
Table 1: Channel sample assays along the Vonnie Vein
|From 5400 CC
Paul Huet, Klondex President and CEO commented, “We are very encouraged
by these results. With our team’s substantial expertise in narrow vein
systems, we expect to be able to minimize dilution while maximizing
grade. We anticipate that these grades will allow us to be more
selective in our mining process.”
Steve McMillin, Klondex Chief Geologist stated, “Sampling improves our
understanding of structures, provides a much better geological
understanding of the deposit and identifies targets for follow-up
drilling. Current drilling continues to confirm the continuity of
mineralization as we move south on 75 foot centers along the ramp.”
The potential quantities and grades of the mineralization reported above
are conceptual in nature and there has been insufficient work to date
to define a mineral resource in the Vonnie Vein structure. Furthermore,
it is uncertain if further exploration will result in discovery of a
mineral resource in this area of the Fire Creek project.
Sampling a given face is conducted after the face location has been
measured, photographed, and mapped in detail. Continuous rock-chip
channel samples are then collected by Klondex staff in 11” x 17” sample
bags from the footwall, vein, and hanging wall. Salient features
including sample number, channel length, location on face, rock type,
and alteration are documented. Samples are sent to SGS Mineral Services
Division lab in Elko, Nevada, an independent laboratory, for
gravimetric fire assay analysis with blanks and standards.
The information contained in this press release has been approved 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 project located in a mining-friendly jurisdiction, near major
producers, power, transportation, mining infrastructure and its milling
facility. At June 26, 2013, Klondex had 64.4M shares issued and
outstanding and 85.8M 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 information about the magnitude and quality of
the Fire Creek project and the results of exploration and metallurgical
testing at the Fire Creek project. 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 Corporation’s business are
more fully discussed in the Corporation’s disclosure materials filed
with the securities regulatory authorities in Canada and available at
. 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.
Back to the News page