Klondike Silver Corp. (TSX-V: KS) is pleased to report, subject to regulatory approval, the acquisition of a 100% interest in the Clagor property, located in the Timmins mining camp, 40 km south of Timmins, Ontario in English Township. Access is via an all-weather road from Timmins, which passes just east of the property, with secondary logging roads accessing the east side and coming within 1 km of the west side of the property. The property consists of two claims (28 units), covering a total of 448 hectares (1,107 acres) of crown land.
Consideration for the property consists of $20,000 and 80,000 shares, payable over 12 months. There is a 2% net smelter return payable on the unpatented claims, of which half (1%) may be purchased for $1,000,000.
The property is underlain by north-northeast striking Archean mafic to intermediate and felsic metavolcanics flows tuffs, and mafic intrusive rocks. The government airborne geophysical MEGATEM survey has identified a number of electromagnetic anomalies proximal to the junction of three regional linear magnetic anomalies on the property.
Klondike Silver plans to carry out ground geophysical and prospecting surveys to assess the potential for silver mineralization that may be associated with the geophysical anomalies.
About Klondike Silver
Klondike Silver Corp. has assembled a quality portfolio of silver and silver-rich poly-metallic 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 a number of local mines in the historic Slocan Silver Camp.
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/KlondikeS...
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