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Klondex Mines (KDX.TSX) announced the final results from its 2011 exploration program at its 100%-owned Fire Creek gold-silver project in north-central Nevada. The emerging gold Company noted that the 2011 program succeeded in locating previously unknown gold- and silver-bearing veins. Klondex reported assay results for the final 21 holes of its 33-hole 2011 surface-drilling program, the first 12 of which were released in November 2011.
Highlights:
* 30.9 grams per tonne (g/t) of gold over 4.9 meters (m) at hole FC1126, including 109.3 g/t over 1.2m
* 8.14 g/t of gold over 1.2m at hole FC1127
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* 7.71 g/t of gold over 1.2m at hole FC1136
Blane Wilson, CEO of Klondex Mines:
“Our exploration team made substantial progress in 2011 in what was the largest-ever surface exploration program conducted by Klondex. We are very encouraged by the program’s overall results, with a combination of high-grade intercepts, new vein discoveries and gold bearing shears that warrant follow-up drilling. We are finalizing plans for our 2012 surface drilling program which is expected to exceed 15,000 meters (49,000 feet) of drilling and will be underway in April.”
Klondex Management:
“Our underground in-fill and definition drilling program is also making excellent headway. We hope to have initial results from this program soon… Given our strong financial position and the unprecedented level of exploration and development activity planned for Fire Creek this year, we are very optimistic about our prospects to create greater value for Klondex shareholders.”
