🕐20.10.14 - 12:27 Uhr
KLONDEX MINES REPORTS THIRD QUARTER 2014 OPERATIONS RESULTS
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Klondex Mines Reports Third Quarter 2014 Operations Results
Vancouver, BC - October 20, 2014 - Klondex Mines Ltd.
(TSX: KDX; OTCQX: KLNDF) is
pleased to report preliminary selected operational results for the Companys third
quarter ended September 30, 2014.
1Q 2014
2Q 2014
3Q 2014
Total YTD
Underground Operations
Tons Mined
22,370
54,659
54,842
131,871
Processing
Tons Milled
21,727
46,047
54,743
122,517
Au Grade OPT
0.541
0.382
0.637
0.524
Ag Grade OPT
7.73
7.38
6.95
7.25
Au Ounces Recovered
13,545
17,093
33,339
63,977
Ag Ounces Recovered
158,372
325,018
364,404
847,794
Au Equivalent Ounces Recovered
16,052
22,239
38,552
76,843
AuEq is calculated using the monetized silver to gold ratio
63.15:1
63.15:1
69.9:1
Au Ounces Sold
3,369
20,293
23,342
47,004
Ag Ounces Sold
58,053
343,025
315,504
716,582
Au Equivalent Ounces Sold
4,288
25,724
28,337
58,349
Paul Andre Huet, Klondex President and CEO commented, "This past year has been one
with important milestones for Klondex as we transform from a development company
into a producer.
The realized synergies in Nevada are demonstrated in the production
results.
The mill throughput remained consistent averaging approximately 600 tpd
for the quarter with gold and silver recoveries of 94.7% and 95.8%, respectively.
Our recovered ounces increased in Q3 due to the processing of multiple zones of
very high grade at Fire Creek.
"With these Q3 results we anticipate our recovered ounces for 2014 to be higher
than managements previous expectation of 75k to 85k AuEq ounces.
At this point,
we anticipate our recovered ounces for 2014 to be approximately 95k AuEq.
With
our strong Q3, and our expected finish to the year, Klondex expects that we can
monetize an aggregate of approximately 85k ounces for the 2014 year.
"Im extremely proud of the efforts put forward by this entire team.
The transformation
Klondex has undergone this year is remarkable and I look forward to sharing further
important updates through the end of 2014."
About Klondex Mines Ltd.
(www.klondexmines.com)
Klondex is focused on the exploration, development and production of its two high
quality gold and silver projects in the mining-friendly jurisdiction of north central
Nevada.
The 1200 tpd milling facility is processing mineralized materials from the
Midas Mine and the Fire Creek Project.
Midas is fully-permitted and has been in
operations since 1998.
Fire Creek is located ~100 miles south of Midas and is operating
an ongoing bulk sampling program that began in 2013.
All major infrastructure is
in place at Fire Creek.
For More Information
Paul Huet
President & CEO
775-284-5757
Alison Tullis,
Manager, Investor Relations
647-233-4348
Mark Odell of Practical Mining LLC is the Independent Qualified Person (Nevada PE
13708 and SME 2402150), who has reviewed and approved the contents of this press
release for the purposes of National Instrument 43-101.
Cautionary Note Regarding Technical Information and Forward-looking Information
A production decision at the Fire Creek Project has not been made by Klondex, as
it is still in the bulk sampling phase.
Although a production decision at the Fire
Creek Project has not been made, the mineralized material extracted from the Fire
Creek Project under the bulk sample permit is processed through the Midas mill.
A production decision at the Midas Mine was made by previous operators of the mine,
prior to the completion of the acquisition of the Midas mine by Klondex and Klondex
made a decision to continue production subsequent to the acquisition.
This decision
by Klondex to continue production and, to the knowledge of Klondex, the prior production
decision were not based on a feasibility study of mineral reserves demonstrating
economic and technical viability prepared in accordance with NI 43-101.
Readers
are cautioned that there is increased uncertainty and higher risk of economic and
technical failure associated with such production decisions.
This news release contains certain information that may constitute forward-looking
information under applicable Canadian securities legislation, including but not
limited to information about the timing, extent and success of mining operations
and the ability to monetize mineralized material.
This forward-looking information
entails various risks and uncertainties that are based on current expectations,
and actual results may differ materially from those contained in such information.
These uncertainties and risks include, but are not limited to, 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; the risks and hazards associated with underground operations; and the
ability of Klondex to fund its substantial capital requirements and operations.
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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Klondex Mines Ltd.
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Suite 304, 595 Howe Street, Vancouver, BC
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Klondex Mines | Suite 304, 595 Howe St.
| Vancouver | BC | V6C 2T5 | Canada