NEVADA FIRE CREEK PROJECT NEARS BULK SAMPLING
Fire Creek expected to begin Bulk Sampling Program by end of 2013
KLONDEX MINES LTD.
TSX: KDX Other OTC: KLNDF
- Fire Creek's updated NI 43-101 compliant Measured and Indicated Mineral Resource reports 260K ozs gold at 44.7 g/t (1.304 opt).
- Inferred mineral resources of over 421K ozs gold at 19.2 g/t (0.56 opt).
- Located approximately ten miles northwest of the Barrick Pipeline deposit (7 million ozs) and five miles southeast of the Newmont Mule Canyon deposits (3 million ozs).
- Shipments to Newmont of fire Creek material for processing began in August 2013.
Fire Creek is Klondex Mines' flagship property in North Central Nevada. The Company updated its NI 43-101 compliant Indicated Mineral Resource in September 2013 verifiying continuity and high grades.
Fire Creek is located in Lander County near the center of the Battle Mountain gold belt in Crescent Valley, approximately ten miles northwest of the Barrick's Pipeline deposit (7 million ounces) and five miles southeast of Newmont's Mule Canyon deposits (3 million ounces). All of this mineralization exists in volcanics within the trend in Crescent Valley that runs south as far as Buckhorn (Barrick).
For futher information on Fire Creek please see the current Corporate Presentation below:
Klondex holds a 66.66% interest in 48 claims in the Schroeder Mountain quadrangle. The property is on three separate sections miles located about three miles northeast of Newmont's Gold Quarry mine and 1.5 miles east of the old Queen Anne mine in the heart of the Carlin Trend. The mine and mill complex at Gold Quarry was built at an estimated cost of U.S. $200,000,000, and is considered to be Newmont's crowning financial and mining achievement. Gold Quarry produced 1.6 million ounces of gold in 1996. Numerous small pits can be found throughout the property which have been dug on mineralized surface outcrops.
Hot Springs Point
Klondex has 42 claims at Hot Springs Point, about six miles east of the town of Crescent Valley. The claims are in a basalt-andesite geological setting close to a sulfur deposit. The original claims were staked in 1993 and were reduced by "checker boarding" in 2003 to lower filing costs while retaining the land position.
The 8 Reef claims in the Fairchild district of Churchill County are in the heart of an old silver mining district with production dating back to the late 19th century. The geologic formation is volcanic. Anomalous gold and silver have been detected along a siliceous reef which runs about half a mile. The claims were staked in 1986 and cover much of the exposed mineralized zone which shows evidence of pits, shallow shafts and trench work from prior examinations. The claims are surrounded on all sides with land staked by a major mining conglomerate.