Klondex Confirms Zone of Gold Mineralization South of Mineral Resource, Drills 6.7m of 33.7g/t Au Within a Larger Intercept of 13.0m of 16.6 g/t Au
Published : April 09, 2013
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ELKO, NV and VANCOUVER, BC--(Marketwired - April 9, 2013) - Klondex Mines Ltd. (TSX: KDX) (OTCQX: KLNDF) reports drill hole FC12-029U intersected 0.48 opt (16.6 g/t) Au over 42.8 ft (13.0m) at its Fire Creek gold project in Nevada (Figure 1 click here). The Diamond drill hole confirms gold mineralization in a "South Zone" near the mine portal, located 1300 ft south of the 5400 crosscut. The drill hole was part of a larger surface and underground drill program testing the continuity of the Joyce A1 and Vonnie B1 veins (formerly named the A and B veins, respectively) in the south portion of the Main Zone.

The south-Main Zone is characterized by clay and pyrite alteration with disseminated mineralization and intervals of calcite-quartz veinlets with higher grades. In contrast, the Joyce A1 vein, intersecting crosscuts 5400 and 5370, consists of mainly quartz-calcite veins within very limited envelopes of clay-pyrite alteration, but with higher grades. Previous surface and underground drilling in the southern portion of the Main Zone defined a probable fault zone approximately 850 ft long, 200 ft wide and 600 ft in height composed of broad intervals of clay-pyrite alteration that is highlighted by the zones of higher grade mineralization. FC12-029U mineralization is closely associated with clay-pyrite alteration and calcite veinlets. The Vonnie's B1 clay-pyrite alteration is stronger than the Joyce A1, and it may be possible that the FC12-029U mineralization is an extension of the Vonnie B1 from crosscut 5400 based on an initial interpretation of intercepts in widely-spaced surface drill holes.

The next drill fan of the 2013 infill drilling program will be located halfway between the South Zone mineralization and the 5400 crosscut to test the continuity, character and vertical extent of the Joyce A1 and Vonnie B1 veins in the central Main Zone. Once completed, the infill program will continue north along the decline on 23m (75 ft) centers.

                                 
                                 
Hole No.   From
(m)
  To
(m)
  Length
(m)
  From
(ft)
  To
(ft)
  Length
(ft)
  Grade
(Au g/t)
  Grade
(Au opt)
FC-12-029U   157.7   170.7   13.0   517.4   560.2   42.8   16.6   0.48
Including   157.7   159.1   1.4   517.4   522.0   4.6   20.9   0.61
Including   159.1   161.1   2.0   522.0   528.7   6.7   33.8   0.99
Including   162.2   163.2   1.1   532.0   535.5   3.5   17.3   0.50
Including   163.2   164.2   1.0   535.5   538.8   3.3   17.9   0.52
Including   168.6   169.8   1.1   553.3   557.0   3.7   11.8   0.34
Including   169.8   170.7   1.0   557.0   560.2   3.2   41.0   1.20
                                 
Note: Intervals reported are core lengths; true widths are not known at this time.
 
 

Steve McMillin, Fire Creek's Chief Geologist, commented, "Today, we announced our widest gold mineralization intercept to date, at a grade of 0.48 ounces per ton. Its location, 1300 ft from where we intend to start bulk sampling later this year is encouraging as far as the potential strike length of the mineralization. This new find follows our January discovery of a new West Zone where we encountered visible gold mineralization. I'm extremely pleased to be contributing to the exploration success at Fire Creek, and will do my best to continue identifying new mineralized zones and extending the continuity of the veins."

Paul Huet, Klondex President and CEO, elaborated, "I've operated on mineralization similar to Fire Creek in Nevada. Intercepting this zone is quite encouraging but requires more understanding. This continues to support our plan on additional definition and exploration drilling from the underground. I am privileged to be developing Fire Creek with my team."

Several assays remain pending from the 2012 drill program. In addition, Klondex has assays pending from Fan 9 (see press release dated March 7, 2013), testing the continuity of the vein structures between the two crosscuts, and on either side. All assays will be included in the updated mineral resource estimate, expected to be completed by Micon International in Q2 2013.

Klondex Mines recently hosted BTV crews at Fire Creek to profile the recent onsite development as it readies to begin a bulk sampling program in Q3 2013. The video may be accessed at:
http://www.b-tv.com/i/videos/KlondexMinesMar13.wmv

Samples cited in this news release were obtained from in-fill drilling by independent contractor American Drilling under the direction of Klondex staff. Assays were determined by ALS Minerals in Reno, Nevada, an independent analytical laboratory.

The content of this press release has been reviewed 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.

About Klondex Mines Ltd. (www.klondexmines.com)
Klondex Mines is focused on the exploration and development of its Fire Creek gold deposit in North Central Nevada. Fire Creek is a compelling gold mining prospect located in a region of prolific gold production that is near power, transportation, mining infrastructure and several milling facilities. As of April 4, 2013 Klondex had 64.4 million shares issued and outstanding, and 85.9 million shares on a fully-diluted basis.

This news release contains forward-looking information, including about current expectations on the timing of project development. 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 Company's business are more fully discussed in the Company's 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.



Contact:
Paul Huet
President & CEO
Klondex Mines Ltd.
807-939-2841
Email Contact

Alison Tullis
Manager, Investor Relations
Klondex Mines Ltd.
647-233-4348
Email Contact

Toni Trigiani
Investor Relations
Catalyst Global LLC
212-924-9800
Email Contact

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Klondex Mines Ltd

DEVELOPMENT STAGE
CODE : KDX.TO
ISIN : CA4986961031
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Klondex Mines is a gold and silver development stage company based in Canada.

Klondex Mines holds various exploration projects in USA.

Its main asset in development is FIRE CREEK in USA and its main exploration properties are MAGGIE CREEK, REEF, HOT SPRINGS POINT, CORRAL CANYON and SWALES MOUNTAIN in USA.

Klondex Mines is listed in Canada and in United States of America. Its market capitalisation is CA$ 543.8 millions as of today (US$ 414.3 millions, € 344.7 millions).

Its stock quote reached its lowest recent point on December 08, 2000 at CA$ 0.06, and its highest recent level on November 04, 2016 at CA$ 7.95.

Klondex Mines has 177 130 000 shares outstanding.

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Corporate Presentations of Klondex Mines Ltd
5/6/2008to Highlight New Gold Intercepts from its Nevada Exploration...
Annual reports of Klondex Mines Ltd
2007 Annual report
Financings of Klondex Mines Ltd
12/9/2013Klondex Updates Proposed Financing with Franco-Nevada
11/2/2012Announces $20 Million Equity Financing and US$7 Million Debt...
7/22/2011Announces Repricing of Lender Warrants to Purchase 1.4 Milli...
8/21/2008Completes CDN $1.75 Million Private Placement
8/1/2008Arranges Non-Brokered Private Placement
9/16/2007to Extend the Expiration Date and Reduce Exercise Price of W...
Nominations of Klondex Mines Ltd
11/15/2013Appoints Barry Dahl as Chief Financial Officer
9/14/2013Appoints Ritch Hall as Special Advisor to the Board
6/29/2012=2DKlondex Mines Announces Independent Board of Directors El...
7/13/2011Confirms Seven-Member Board with Substantial Nevada Gold Min...
10/12/2009Appoints Dr. W. Lang to its Board of Directors
6/22/2009(Fire Creek)Appoints Special Committee to Review Silvercorp Takeover Off...
5/22/2007Expands Board with Appointment of Mining Industry Executive,...
Project news of Klondex Mines Ltd
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2/11/2014Klondex Completes Acquisition of the Midas Mine and Mill Com...
1/20/2014Drilling Details Three Mineralized Structures in the West Zo...
1/14/2014continues to Strengthen Nevada Operations Team; Klondex to E...
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12/4/2013Enters into Definitive Agreement with Newmont to Acquire the...
11/1/2013(Fire Creek)Files Technical Report in Connection with Fire Creek Project
10/31/2013Klondex to Begin Drilling West Zone
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5/13/2013Visible Gold from Exploration
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8/11/2012Veteran Mine Engineer=2C Rodney Cooper=2C Named To Board of ...
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1/10/2012Nevada Gold Explorer Klondex Mines Presents Sunday=2C Jan. 2...
10/5/2011(Fire Creek)Draws U.S. $5 Million from Gold Loan to Fund Continued Devel...
7/26/2011(Fire Creek)Reports Solid Progress at Fire Creek Nevada Gold Deposit
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12/17/2009(Fire Creek)Secures BLM Permits for Confirmation Program at Fire Creek
7/9/2009(Fire Creek)Resumes Drilling Of High-Grade Gold Zones At Fire Creek As I...
5/29/2009(Fire Creek)to Highlight 1.6 mm Oz. Indicated Gold Resource (and 0.5 mm ...
3/2/2009(Fire Creek)Releases Final Gold Assays From 2008 Fire Creek Drill Progra...
12/12/2008Initiates High-Grade Gold Resource Update to Include Two Yea...
3/19/2008(Fire Creek) Confirms Gold Intercept of 0.37 oz/ton (12.7 g/t) over 25 f...
1/17/2008(Fire Creek)'s Drills Gold Intercepts of 67.2 gpt over 1.5 meters
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Corporate news of Klondex Mines Ltd
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8/12/2015Klondex Reports Second Quarter 2015 Cash Increase of $13.1 m...
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10/8/2013Announces Further Infill Drilling Results
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7/29/2013Reports Results of June Development Program
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7/16/2013Announces Renaud Adams to Board
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5/1/2013Completes Relogging Effort
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4/2/2013Veris Gold Enters Into A Toll Milling Agreement With Klondex...
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3/21/2013Featured on B-TV Business Television
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3/14/2013News Release
2/25/2013NAMES LARRY PHILLIPS CHAIRMAN OF THE BOARD
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1/16/2013Press Announcement
11/8/2012. Provides Update on Offering
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9/13/2012Names Paul Andre Huet=2C Who Led the Midas and Hollister Und...
8/29/2012(Fire Creek)Drills Long Intercepts of Near=2DSurface=2C Oxidized Gold Mi...
7/16/2012(Fire Creek)Nevada Gold Explorer Klondex Mines Announces Interim CEO And...
6/28/2012=2D Klondex Mines Announces Proxies Will be Accepted Up to C...
6/18/2012(Fire Creek)=3A Underground In=2DFill Drilling Continues to Intersect Go...
4/23/2012Nevada Gold Explorer Klondex Mines Begins Trading Today on t...
4/16/2012(Fire Creek)Underground In=2DFill Drilling Continues to Intersect Gold M...
3/1/2012(Fire Creek)Initial Underground Drill Results Show Continuity of Gold Mi...
2/14/20122011 Drill Program Results Press Release
2/14/2012Mid-Day Breaking News From International Enexco, Klondex, Zi...
1/26/2012Nevada Gold Explorer Klondex Mines to Webcast Merriman Capit...
12/21/2011Nevada Gold Explorer=2C Klondex Mines=2C Appoints Veteran Ge...
10/5/2011Mid-Day Breaking News From Lucky Strike, Galore, Indigo, Klo...
6/30/2011Announces Settlement Agreement and New Proposed Board
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6/27/2011Proposes Veteran Mining Industry Executive Ken Stowe as Addi...
6/22/2011ISS Recommends Klondex Shareholders Vote For Incumbent Klond...
5/11/2011(Fire Creek)Clarifies Technical Disclosure, To Prepare Fire Creek Report
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4/6/2011Closes U.S. $20 Million Secured Facility to Advance Undergro...
4/6/2011(Fire Creek)BREAKING NEWS: Klondex Secures $20mm Gold-Backed Funding for...
2/24/2011Names Robin Goad, Veteran Geologist and Mining Industry Exec...
2/22/2011(Fire Creek)Receives Nevada State Approval for Fire Creek High-Grade Gol...
10/6/2009to Vigorously Defend Against Baseless Paramount Suit and to ...
9/25/2009Terminates Agreement with Paramount Gold and Silver Corp. Ci...
9/17/2009Reports Proceeds of $2.0 Million from Warrant/Option Exercis...
7/20/2009Business Combination
6/30/2009Rejects Silvercorp's Hostile Takeover Bid
6/30/2009Completes $3.0 Million Financing with China Mineral United t...
6/26/2009Scotia Capital Appointed by Klondex as Financial Advisor to ...
6/23/2009Waives Application of Previous Shareholder Rights Plan and A...
6/8/2009Responds to Unsolicited Acquisition Offer from Silvercorp Me...
9/18/2008Grants Incentive Options
8/12/2008President Exercises Options
7/9/2008Intercept Averaging 0.361 oz/ton Gold over 18 Feet True Widt...
6/19/2008Announces AGM Voting Results
4/30/2008Provides Investor Update
1/14/2008to Highlight New Gold Intercepts from its Nevada Exploration...
11/27/2007 Highlight Nevada Gold Exploration Progress at Academy & Fin...
11/8/2007to Highlight Nevada Gold Exploration Progress at Hard Assets...
10/11/2007Klondex to Highlight Nevada Gold Exploration and Development...
6/27/2007Receives Shareholder Petition
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