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Re: News Releases - Wednesday, October 07, 2009
Klondike Silver Corp. Commences Drift Extension into Lode
Structure to Test for Mineralization
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.. GOAL OF CURRENT PROGRAM IS TO DETERMINE EXTENT OF LODE STRUCTURE AND
TEST FOR MINERALIZED SHOOTS
.. TARGET AREA WAS SLATED FOR FURTHER EXPLORATION WHEN MINE SHUT DOWN IN
1990s AS A RESULT OF LOW METAL PRICES
VANCOUVER, BC --- Klondike Silver Corp. (TSX-V: KS) (the "Company") is
pleased to announce that lateral drifting westerly has commenced from
the underground west extension of the main access "4625 Level" of the
Silvana Mine. This heading is starting to cross-cut the lode structure
intersected in a recent drill program (see news release August 27,
2009). The planned 100 meter drift is the first into a 1.5 km long
unexplored, underground segment of the productive and historic "Main
Lode" structure which is the principal source of the Slocan mining
camp's silver/lead/zinc production.
"We are pleased to announce the commencement of this new drift into an
area of the Slocan that has never been explored," comments Company
President, Richard Hughes. "Intersecting the lode structure this early
in our underground efforts is extremely encouraging as over 1.5 km of
unexplored ground remains to be tested. Our efforts are now focused on
determining whether or not this extension of the lode structure is
mineralized and if so to what extent."
To view a map of the 2009 drilling and target area please click on the
following link (if the link does not open cut & paste it into your
browser address bar):
http://www.klondikesilver.com/i/pdf/NewMailLodesection.pdf
The initial underground
Diamond drilling program consisted of four BQ
size holes totaling 363.6 meters. Geology intersected in the initial
drilling includes structure having characteristics typical of the Main
Lode as mined in the Silvana mine. These characteristics are
interpreted as belonging to this major and important feature whose
location and identification are critical factors in the exploration
effort.
The Main Lode is over 8 km long, extending from Silverton on Slocan
Lake in the west to Sandon in the east through the "Silver Ridge" of
the Selkirk mountains approximately 50 km north of Nelson, BC.
Silvana mine production to date is approximately 8 million ounces of
silver and over 30,000 tons each of lead and zinc from approximately
550,000 tons of millfeed mined from a 1.5 km section of the Main Lode
under Silver Ridge. The section was explored, developed and mined from
by the Silmonac Syndicate and its successors including Kam-Kotia Mines
Limited, Silvana Mines Inc., Dickenson Mines Limited and Treminco
Resources Ltd. almost continuously from 1970 to 1993, until low metal
prices resulted in its closure.
The Company holds the ground on the next approximately 1.5 km to the
west of this productive zone, to within 500 meters of the Mammoth mine.
The current program represents the first attempt since the early
1990's to explore westerly towards the Mammoth and the other major Main
Lode producers towards Silverton.
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 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 one of its
Yukon properties and local mines in the historic Slocan Silver Camp.
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.
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 Wed Oct 7, 2009 at 11:18:03 AM Pacific Time
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