Klondike Gold 2023 Exploration Underway

VANCOUVER, BC / ACCESSWIRE / June 19, 2023 / Klondike Gold Corp. (TSX.V:KG)(FRA:LBDP)(OTCQB:KDKGF) ("Klondike Gold" or the "Company") is pleased to provide an update on current exploration/development activities and 2023 objectives at the Klondike District Property (the "Property") spanning 729 square kilometers located in the Dawson mining district, Yukon, Canada.

SUMMARY

• Highly favorable results from academic research programs initiated in 2022 have:
  • supported a younger age to the gold mineralizing event (~coincident with Mother Lode District, California);
  • constrained the age of mineralizing structures;
  • documented association of gold with tellurides and silver sulfosalts;
  • detected mappable hydrothermal alteration associated with gold mineralization for the first time;
  • suggested SWIR ("short wave infrared) imaging may be practical as an ‘instant analysis' tool to detect gold-bearing alteration.
• Prospecting, mapping, and rock sampling programs are targeting known and new areas throughout the Property using geochemical and structural criteria derived from this new research. Results will rank targets for diamond drilling.
• Diamond drilling ~2,000 meters allocated for newly generated targets is planned to begin in July. Contingent targets considered include follow-up of Gold Run drill hole GR18-162, which assayed 1.23 g/t Au over 13.5 meters¹ and further testing of Stander Zone mineral resources² and Gay Gulch Showing mineralization.

Peter Tallman, Klondike Gold's President & CEO states, "Research has constrained the age of the Klondike District's bedrock mineralization and geochemical/structural environment from which the famous 20M oz historical gold placer endowment was derived. These results have considerable beneficial implications for the Company's 100% owned Klondike District Property and immediately focus the Company's exploration efforts towards targeting new drill discoveries. Management maintains its view the Klondike District Property has exceptional overlooked potential for discovery of multiple gold deposits."

The 2023 exploration program is influenced by new science studies (involving University of Ottawa, University of Toronto, Dalhousie University, and Colorado School of Mines / CASERM) including three recently concluded HBSc theses and ongoing MSc, PhD, and Colorado School of Mines research efforts.

From these efforts, graphitic thrusts within the Klondike District have peak metamorphic temperatures at c.450^oC interpreted to represent pre-mineralization structures. Gold mineralization temperatures based upon fluid inclusions are c.250-300^oC thus retrograde following peak metamorphism (i.e. younger). Gold in SEM (scanning electron microprobe) and thin section work has association with telluride, silver sulfosalts and barium. Zones of specific micaceous minerals surrounding high gold-bearing quartz vein intersections potentially indicate an alteration halo useful to vector toward higher gold grades.