Klondike Gold Mining Corp.

Published : April 27th, 2013

KG Corporate Newsletter - April, 2013

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Klondike Gold Corp.
Newsletter - April 2013

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A new chapter in mining in Portugal is commencing.


The Portuguese Government has recently changed its mining policy in favor of increased investment in mineral exploration.


Portugal has a lengthy history of base and precious metal mining.



Why Portugal?

While the focus of Klondike Gold Corp. is on developing the hard-rock source of the famous Klondike Gold Rush, and will remain so for the foreseeable future, the Portuguese window of opportunity is too attractive to pass over.  Klondike Gold's management has many years experience of working in foreign jurisdictions and has quickly moved to obtain Portuguese mining concession licenses without compromising its ability to advance its Yukon project which has its own historic significance potential. 

 

So what is a junior Canadian Exploration company with a history of working in the Yukon doing in Portugal?  Being in the right place at the right time is the short answer.  The long answer touches on the rich historic mining activity which predates the Romans, the rich geological setting, and the current recent need for European Union Countries to open its many exploration opportunities to the Western World.

 

What Makes a World-Class Exploration Play?

Klondike Gold Corp. recently announced plans to expand into new and exciting gold projects in Portugal, which should generate plenty of news for shareholders in the coming years.  Portugal is a mining friendly jurisdiction with known mineral potential and reliable infrastructure. It has one of the oldest mining traditions in the world where mining started before Roman times and continues in one form or another to the present. 
 
Portugal is a modern European country with first-class infrastructure, judicial security, and transparent mining law with clear rules and regulations.

Mining is being encouraged by the Portuguese Government as an important part of its forward-looking economic plan. The Portuguese policy on mining is in line with the European Union's overall strategy. Encouraging mining and exploration for metals and minerals is considered to be of strategic importance and critical to its economy.
This change in policy is significant, and could lead to exploration and mining opportunities that are world-class in nature.  
 
Importantly, Klondike Gold Corp. has taken an initiative that is ahead of the curve in the industry.  By acting with insight in the past year, the company now holds significant land positions in scope and scale to any world-class play. 

Portugal Has a Long History of Mining

Mining in Portugal was initially carried out by the Phoenicians, 
then later by the Romans.  During the Industrial Revolution the demand for metals increased dramatically.  As a result, mining increased, leading to the first modern mining concession being granted in 1836.  During the 19th century, Portugal had about 300 active mining concessions. 
 
The principal mineral targets in Portugal are polymetallic sulphides, tungsten, tin, antimony and gold.  During World War I and World
War II there was a great demand for tungsten and tin. 
 
 
Portugal also hosts important uranium deposits, with approximately 4200 tons produced from 1950 to 1990.  Mineral exploration increased substantially between the 1950s and 1980s expanding tin and tungsten production, and later metal extraction in the Pyrite Belt in southern Portugal

Castromil Gold Mine and the Valongo Gold-Antimony Belt

The Valongo Belt is an anticline structure that extends over 
90 km with mineral occurrences in the belt of gold, antimony and silver, lead, zinc, tin and tungsten mineralization.
Valongo Belt.jpg 
This anticline structure is composed of metasedimentary rocks dating from Precambrian to Carboniferous with rare Hercynian granites.

Mines along the Valongo Mineral Belt are identified in the map below:
Castomil Mine-Valongo.jpg
The Castromil Gold Mine is located within a Hercynian granite on the eastern portion of the Valongo anticline.

Gold and antimony are found along an orthogonal fault systems trending both northwest to southeast and northeast to southwest. 
The northeast to southwest fault is more recent and acts as a hydrothermal conduit wherein gold is disseminated along veins in the silicified granite within a shear zone and is frequently associated with sulphides.

Castromil-geology.jpg  
The history is fascinating.  Romans were the first to mine the Castromil deposit by both open pit and underground methods as well as washing "gold lands", an historical form of placer mining.  In Castromil the Roman cortas (open pits) are the result of extensive hydraulic mining and the open mine cuts can still be observed today.  There is an extensive network of adits, shafts and galleries in the Castromil Gold Mine underground complex. Castromil Adit.jpg
 
Castelo de Paiva in the Valongo Belt

Castelo de Paiva is located near the southeastern limit of the Valongo Belt approximately 60 km east of the city of Porto.
Castel do Paiva.jpg

The Roman Adit (below), located in Castelo de Paiva, provided access and drainage.

Castelo de Paiva Adit.jpg  Castelo-drainage.jpg
 
The Terramonte Mine was one of the largest silver, lead, and zinc producers in Europe and is located in Castelo de Paiva. 
Terramonte Mine.jpg  
Mineral occurrences of gold, antimony, lead, zinc, silver, coal, quartz and feldspar are common and include the Roman gold and antimony mine of Cabranca. 
Cabranca Gold Mine.jpg
Gold and antimony occurs in veins at the Cabranca Roman Gold Mine, with stockworks and silicified Paleozoic metasediments affected by structure.  The quartz veins are commonly oriented northwest and southwest with 0..9 thickness.   

North Valongo Belt

Valongo Belt.jpg
 
Balazar is located at the northern boundary of the Valongo anticline, a region that hosts minerals such as gold, antimony, iron, tungsten, tin, graphite and kaolin.  Despite the significant widespread mineralization this region remains largely under explored.
Balazar Geology.jpg
At Balazar the antimony and gold occurrences are contained in veins, stockworks and silicified Paleozoic metasediments and are affected by structure.

North of Balazar is the Ponte da Barca area, which hosts several ancient mines.  Gold is found in quartz veins, pegmatites and stockwork veins spatially associated with granites and shear zones.
Ponte da Barca.jpg

Pegmatitic veins are hosted in Ponte da Barca granites within the shear zones.  Veins are subvertical and oriented east-west.  Silver is strongly associated with gold mineralization.  Mineralization is post D3 phase of the Hercynian oregeny, identifiable in the sample below.
Ponte de Barca Mineralization.jpg

Please go the website at www.klondikegoldcorp.com to view the complete Powerpoint presentation on Portugal.

What We Are Looking Forward To...

Next month, the weather in Yukon passes the spring break-up period.  The spring break-up is often a sudden thaw of snow-packs on the Klondike Plateau that cause the creeks to flood and makes the region difficult for travel.  The placer gold mining season immediately follows the break-up, and Klondike Gold Corp. is looking forward to a full-scale production season on the Indian River Placer Gold Mine, constructed in 2012.

As we move towards summer the company has opportunities to continue work on the Lonestar Project, the B.C. projects and to commence exploration and assessments in Portugal.

About Klondike Gold Corp.
 
Klondike Gold Corp. is a Canadian exploration company with offices in Vancouver, British Columbia and Dawson City, Yukon. The Company is focused on the development of its Yukon and British Columbia gold properties. In addition the Company holds a large portfolio of base metal projects in southeastern British Columbia.

CONTACT INFORMATION

info@klondikegoldcorp.com
Erich Rauguth, President & CEO
Telephone:  +1-604-685-2222
www.klondikegoldcorp.com  

 

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release. Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.


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Klondike Gold Corp. | 711-675 West Hastings Street | Vancouver | BC | V6B 1N2 | Canada
Data and Statistics for these countries : Portugal | All
Gold and Silver Prices for these countries : Portugal | All

Klondike Gold Mining Corp.

EXPLORATION STAGE
CODE : KG.V
ISIN : CA4989032020
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Klondike Gold is a gold exploration company based in Canada.

Klondike Gold holds various exploration projects in Canada.

Its main exploration properties are KOOTENAY KING, PIT, INDIAN RIVER, IRISHMAN, PAYDAY, VILLEBON, WAWA, KLONDIKE STAR / KLUANE (AKA LONE STAR), GOLDEN EGG, RED POINT, METEOR LAKE, INDIGO, IOCG CRANBROOK SOUTH, MATARROW MINE, CRUZ, JCD, ESQUEGA, RON GOLD GROUP, SPICE and CLUBINE in Canada.

Klondike Gold is listed in Canada and in United States of America. Its market capitalisation is CA$ 5.9 millions as of today (US$ 4.3 millions, € 4.0 millions).

Its stock quote reached its highest recent level on November 29, 1996 at CA$ 97.55, and its lowest recent point on August 18, 2023 at CA$ 0.08.

Klondike Gold has 65 650 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
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