🕐20.01.10 - 17:06 Uhr
High-Grade Gold Veins Discovered East of Main Zone in Klondexs 2009 Exploration Program
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Re: News - Wednesday, January 20, 2010
High-Grade Gold Veins Discovered East of Main Zone in Klondexs
2009 Exploration Program
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- Drilling Continues to Expand Scope of Fire Creek
Mineralization With Further Exploration Planned for 2010 -
Vancouver, British Columbia - January 20, 2010 - Klondex Mines Ltd.
(TSX: KDX) ("Klondex" or "KDX") today announced final results from its
2009 drilling campaign.
The 2009 program included RC drilling of two
IP anomalies, one of which yielded the discovery of two new veins.
The
IP anomaly targets were developed in a geophysical survey also
conducted in 2009.
KDX completed 15 holes totaling 20,221 feet (6,163
meters) within the Fire Creek project in 2009.
The results are
reported in the table below, and the drill plan showing all 2009 drill
holes is posted at www.klondexmines.com.
The bulk of the results for
holes FC0901 through FC0905 were previously released.
2009 Geophysical Survey Identifies 15 Drilling Targets
In the summer of 2009 a new detailed, multi-method geophysical survey
was run at Fire Creek (FC).
The survey identified 15 untested
anomalies that are drilling targets.
Using a reverse circulation (RC)
drill rig Klondex tested two of the anomalies.
Drill holes FC0912RC
through FC0915RC tested two anomalies located east of the Main vein
zone.
Holes FC0912RC and FC0913RC intersected two high-angle dikes
with weakly anomalous gold values near the margins of the dikes below
the first anomaly drilled.
RC Program Identifies Two New Veins
Hole FC0914RC intersected a broad zone of +0.03 oz/ton gold occurring
between 925 and 1360 feet.
Within this anomaly are two veins
consisting of 3.5 feet (1.1 meter) true width of 0.26 oz/ton (9.1 g/t)
gold and 0.76 oz/ton (25.9 g/t) silver and 3.5 feet (1.1 meter) true
width of 0.26 oz/ton (9.1 g/t) gold and 0.18 oz/ton (6.3 g/t) silver.
This new discovery is approximately 300 feet (91 meters) east of the
nearest vein.
FC0915RC was lost before reaching the mineralized
horizon.
Core drilling of the new discovery is planned in the spring
of 2010.
Robert Sibthorpe, KDXs Technical Director, commented, "Our 2009
drilling program continued to expand the scope of mineralization at
Fire Creek, an effort we will recommence in the spring.
Drilling in
2009 extended Main zone mineralization further south and extended New
North zone mineralization to the north, while also establishing a new
vein system in the Eastern side of the Main zone.
We also initiated an
RC drilling program to more cost effectively test 15 anomalies
identified in our 2009 geophysical program.
Given our substantial
property position and the success we have achieved, we are very
optimistic about the potential to further extend the scope of the Fire
Creek resource in 2010 and in the future."
Main Zone Definition Drilling Yields 1.45 oz/ton Intercept
Holes FC0901 through FC0905 were targeted within the Main vein zone and
were used to further define areas suitable for bulk sampling once
underground work is initiated.
These results included several +0.25
oz/ton gold values including 8.8 feet (2.7 meters) true width of 1.45
oz/ton (49.9 g/t) gold and 0.88 oz/ton (30.1 g/t) silver in hole
FC0903.
View Table: Summary 2009 Drill Results - Fire Creek
http://www.klondexmines.com/s/News.asp?ReportID=381308
Main and New North Zone Extension Drilling
Six of the remaining holes were targeted on possible extensions of the
Main zone to the north and south and the north extension of the New
North vein zone.
FC0906 is the first hole to test the southernmost
extension of Main, and it found two sub-grade veins worthy of further
testing.
FC0907 through FC0909 tested the northern extension of the
Main zone.
FC0907 and FC0908 both hit sub-grade veins with FC0908
intersecting 29.8 feet (9.1 meters) true width of 0.08 oz/ton (2.6 g/t)
gold.
Located on the northernmost discovery at Main, this major fault
zone will be tested further.
FC0909 did not intersect any significant
veining.
Drill holes FC0910 and FC0911 tested the northern extension of the New
North zone.
FC0910 was a 100-meter step-out and the first hole to
explore this far north.
The sub-grade vein intersected indicates the
mineralized structure is still present, and a fence of holes are
planned to further test this area.
FC0911 was drilled to test directly
west of a previous vein intercept and intercepted two sub-grade veins.
Klondex will continue testing additional geophysical anomalies in 2010
using an RC rig to identify vein zones and then following up with core
drilling.
As of September 30, 2009, KDX had 30,964,089 shares issued and
outstanding, 34,879,089 shares on a fully diluted basis and cash of
approximately CDN $4.4 million and working capital of CDN $3.8 million.
About Klondex Mines:
Klondex Mines Ltd.
is a gold exploration company with four projects in
North Central Nevada.
The Company is focused on the development of its
high-grade Fire Creek gold deposit where it has identified the
following NI 43-101 compliant resource:
Fire Creek Project - Indicated and Inferred Resource *
NI 43-101 Dated March 30, 2009
View Table: http://www.klondexmines.com/s/News.asp?ReportID=381308
For more information, please visit www.klondexmines.com.
Richard Kern (P.Geo), of Reno, Nevada, a qualified person as defined
under National Instrument 43-101and has reviewed and approved the
technical information contained in this press release.
ON BEHALF OF KLONDEX MINES LTD.
"William Solloway"
President
"Bob Sibthorpe"
Director
Investor Contact:
David Collins
Jaffoni & Collins Incorporated
(212) 835-8500
View Map - 2009 Drill Hole Locations and Projected Veins
http://www.klondexmines.com/i/pdf/FC-DHVeinLocations1-20-10.pdf
View News Release in PDF Format:
http://www.klondexmines.com/i/pdf/2010-01-20_NR.pdf
You can also view this News Release on our website at:
http://www.klondexmines.com/s/News.asp?ReportID=381308
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Copyright (c) 2010 KLONDEX MINES LIMITED (KDX) All rights reserved.
For more information visit our website at http://www.klondexmines.com/
or send mailto:
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