🕐19.12.13 - 13:00 Uhr
KLONDEX MINES INTERCEPTS NEW AREAS OF GOLD MINERALIZATION AT ITS FIRE CREEK PROJECT
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Klondex Mines Intercepts New Areas of Gold Mineralization at its Fire Creek Project
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Reno, NV & Vancouver, BC - December 19, 2013 - Klondex Mines Ltd.
(TSX: KDX; OTCQX:
KLNDF), a Nevada gold exploration and development company, today reports gold assays
at its Fire Creek gold Project in Nevada, from surface drilling.
The drilling suggests
possible extensions of the current mineral resource model.
Four reverse circulation (RC) holes were drilled as part of the Fire Creek hydrology
study (see FIGURE 1
RC chips were logged, and samples collected on 5 ft intervals for assaying.
Three
of the four holes intercepted mineralization outside of the current mineral resource
model that are in line with the underground workings.
Grades from the surface drilling
range from 16.3 g/t (0.47 opt) Au to 5.1 g/t (0.15 opt) Au.
See Tables 2 and 3 below,
for detailed sample results.
Table 1 details significant assays and locations in
relation to the mineral resource model at Fire Creek.
Drill Hole
Intercept
Location
FC-13-27S
13.0 g/t (0.38 opt) Au over 10.7m (35 ft)
250 ft north of the known Joyce structure block model, and 1070 ft north of the
last blasted Joyce face round.
FC-13-26S
9.2 g/t (0.27 opt) Au over 4.6m (15 ft)
480 ft south of the closest modeled vein and west of the main ramp
FC-13-25S
10.4 g/t (0.30 opt) Au over 1.5m (5 ft)
250 ft south of the resource model
Table 1: RC drilling during the hydrology study
Mike Doolin, Klondex General Manager stated, "These intercepts continue to support
our view that the Fire Creek project is significantly underexplored.
The 2014 drill
program is designed to follow up on new discoveries as well as extend the strike
length and vertical extent of the current known mineralization, as we continue
to unlock value at Fire Creek.
Based on my personal experience, in these styles
of mineral deposits, RC drill holes dilute and underestimate the grades.
We expect
that additional core drilling in these areas will clarify grades and widths."
The technical information contained in this press release has been reviewed and
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.
RC sample size was monitored during drilling and kept to approximately 10-15kg.
Reference chips were collected in standard chip trays for logging.
Assays were
performed by ALS Minerals in Reno, Nevada (an independent laboratory), under the
supervision of Klondex staff.
Fire Creek QA/QC protocols include insertion of standards,
blanks and duplicates approximately every 20 samples.
Standard and blank samples
use accredited reference material.
Gold analyses were obtained via industry standard
fire assay with atomic absorption finish.
For samples returning greater than 10.00
g/t Au, a follow-up fire assay analysis with a gravimetric finish was performed.
About Klondex Mines Ltd.
(www.klondexmines.com)
Klondex Mines is focused on the exploration and development of its high-grade 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 milling facilities.
As at December 19,2013, the Company
had 79.2 million shares issued and outstanding and 97.2 million shares fully diluted.
Contact:
Paul Huet Alison Tullis
Toni Trigiani
President & CEO Manager, Investor Relations Investor
Relations
Klondex Mines Ltd.
Klondex Mines Ltd.
Catalyst Global
LLC
1-775-284-5757 1-647-233-4348 1-212-924-9800
[mailto:]
[mailto:] [mailto:]
Hole No.
AZI
DIP
Depth
Depth
(m)
(ft)
FC-13-24S
227
-60
452.7
1500
FC-13-25S
66
-60
403.9
1325
FC-13-26S
248
-60
518.2
1700
FC-13-27S
60
-60
518.2
1700
Table 2: RC drilling azimuth, dip and depth
Hole No.
From
To
Length
From
To
Length
Grade
Grade
(m)
(m)
(m)
(ft)
(ft)
(ft)
(g/t Au)
(opt Au)
FC-13-24S
No Significant Intercept
FC-13-25S
126.5
131.1
4.57
415
430
15
8.49
0.248
including
128.0
129.5
1.52
420
425
5
6.59
0.192
including
129.5
131.1
1.52
425
430
5
10.40
0.303
FC-13-26S
161.5
164.6
3.05
530
540
10
6.16
0.180
including
161.5
163.1
1.52
530
535
5
8.17
0.238
and
233.2
234.7
1.52
765
770
5
6.59
0.192
and
239.3
242.3
3.05
785
795
10
7.18
0.209
including
239.3
240.8
1.52
785
790
5
5.13
0.149
including
240.8
242.3
1.52
790
795
5
9.24
0.269
and
256.0
257.6
1.52
840
845
5
7.02
0.205
and
297.2
304.8
7.62
975
1000
25
9.21
0.269
including
297.2
298.7
1.52
975
980
5
12.50
0.365
including
298.7
300.2
1.52
980
985
5
8.01
0.234
including
300.2
301.8
1.52
985
990
5
7.11
0.207
and
373.4
391.7
18.29
1225
1285
60
5.12
0.149
including
374.9
376.4
1.52
1230
1235
5
5.09
0.148
including
376.4
378.0
1.52
1235
1240
5
7.23
0.211
including
378.0
379.5
1.52
1240
1245
5
7.91
0.231
including
379.5
381.0
1.52
1245
1250
5
5.65
0.165
including
384.0
385.6
1.52
1260
1265
5
5.97
0.174
including
387.1
388.6
1.52
1270
1275
5
6.64
0.194
FC-13-27S
342.9
365.8
22.86
1125
1200
75
8.36
0.244
including
344.4
345.9
1.52
1130
1135
5
5.94
0.173
including
349.0
350.5
1.52
1145
1150
5
5.40
0.157
including
353.6
355.1
1.52
1160
1165
5
11.65
0.340
including
355.1
356.6
1.52
1165
1170
5
13.85
0.404
including
356.6
358.1
1.52
1170
1175
5
14.95
0.436
including
358.1
359.7
1.52
1175
1180
5
16.25
0.474
including
359.7
361.2
1.52
1180
1185
5
10.90
0.318
including
361.2
362.7
1.52
1185
1190
5
12.15
0.354
including
362.7
364.2
1.52
1190
1195
5
10.30
0.300
and
449.6
451.1
1.52
1475
1480
5
5.56
0.162
Table 3: RC drilling widths and grades, true widths are unknown.
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 the results of exploration
and assay sampling at the Fire Creek Project, the Companys intention and ability
to monetize mineralized material, timing of the updated mineral resource estimate
at the Fire Creek Project and the bulk sampling program.
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 Companys business are more
fully discussed in the Companys 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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