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Re: News Releases - Monday, December 21, 2009
Klondike Silver Corp. Cuts New Drill Station and Continues Drift
Westward in Footwall of Main Lode Structure
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.. STAGE 2 DRIFT COMPLETED
.. DRILL STATION NUMBER TWO TO TEST FOR MINERALIZATION WITHIN LODE
STRUCTURE
VANCOUVER, BC ---Klondike Silver Corp. (the "Company") (TSX-V: KS) is
pleased to announce it will be cutting a new drill station to advance
underground exploration as well as commence a 300 foot extension to the
existing drift.
A map and diagram have been prepared highlighting the Company's current
underground operations. To view the image, please click on the
following link or cut and paste the link into your browser:
http://media3.marketwire.com/docs/KS_Slocan_Plan_View.pdf
Stage #1: A 525 foot drift to the southwest with Drill Station #1 at
the end. Drilling here indicated lode structure which directed the
Company to go west. (See news release August 27, 2009)
Stage #2: A 300 foot drift (See news release October 7, 2009) westward
into the footwall of the Main Lode structure and was recently
completed. Drifting in the footwall, or below the lode, will allow the
Company to use gravity in the removal of mineralized material should
there be any identified within the lode. Drill Station #2 is currently
being cut at the end of this drift and
Diamond drilling will take place
in the New Year. Drilling from Station #2 will be towards the Main
Lode structure to determine if mineralization is evident. The initial
program, approximately 2000 feet planned, is expected to be completed
by mid-March.
Stage #3: While
Diamond drilling is taking place at Station #2, a 300
foot extension to the Stage #2 drift will commence with a
Diamond drill
station cut at the end. This drift will continue on in a westward
direction unless the lode structure alters. Work is planned to be
completed near the end of February. Drifting may be stopped in the
event that mineralized zones are located through
Diamond drilling from
Station #2.
The "Main Lode" structure is more than 8 kilometers long, extending
east from Silverton on Slocan Lake to Sandon through the "Silver Ridge"
of the Selkirk Mountains some 50 kilometers north of Nelson, B.C.
The Company holds the ground for approximately 1.5 km to the west of
this productive zone, to within 0.5 km of the Mammoth Mine. This
program represents the first attempt since the early 1990s to explore
west towards the Mammoth, Standard and the other major "Main Lode"
producers.
The Silvana Mine is one of 29 former producers staked or acquired by
the Company within the Slocan Camp. Other assets include extensive
exploration lands and a fully permitted 100-tonne-per-day (TPD)
flotation mill.
The Silvana Mine produced approximately 8 million ounces of silver and
more than 30,000 tons each of lead and zinc from 550,000 tons of
mill-feed mined from a 1.5-kilometer section of the "Main Lode" under
Silver Ridge. This section was explored, developed and mined almost
continuously from 1970 to 1993 by the Silmonac Syndicate and its
successors, including Kam-Kotia Mines Limited, Silvana Mines Inc.,
Dickenson Mines Limited and Treminco Resources Ltd. Sporadic mining has
since been conducted by other companies, including Klondike Silver.
The Qualified Person for the purpose of National Instrument 43-101 is
Ed Craft, PEng, who has read and agreed with the technical information
in this news release.
About Klondike Silver:
Klondike Silver is a member of the Hughes Exploration Group of
Companies and is led by a team with a stellar track record of discovery
and development in Canada.
Klondike Silver Corp. has assembled a quality portfolio of silver
properties in historic mineral districts in North America, and is
applying advanced exploration technologies to add value to these core
assets. Klondike Silver is reviving the Gowganda and Elk Lake silver
camps in Ontario, and the world-famous Klondike district of Yukon
Territory. The Company owns a 100 TPD fully operational flotation mill
in Sandon, BC, which is currently processing material from local mines
in the historic Slocan Silver Camp. As well, Klondike Silver entered
into a joint venture with Kootenay Gold Inc. to explore a
copper-porphyry property in the state of Sonoro in northern Mexico.
Contact Information:
Corporate Inquiries: Kevin Hull or Alan Campbell, (604)-685-2222
Email: info@klondikesilver.com
Or visit Klondike Silver's web-site: www.klondikesilver.com to see
Smartstox interviews with Company President, Richard Hughes.
AGORACOM Investor Relations
Email: KS@agoracom.com; Website:
http://www.agoracom.com/ir/KlondikeSilver
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy or contents of this news release.
The statements made in this news release may contain forward-looking
statements that may involve a number of risks and uncertainties.
Actual events or results could differ materially from the Company's
expectations and projections.
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Copyright (c) 2009 KLONDIKE SILVER CORP. (KS) All rights reserved.
For more information visit our website at
http://www.klondikesilver.com/ or send mailto:info@klondikesilver.com
Message sent on Mon Dec 21, 2009 at 7:02:14 AM Pacific Time
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