Klondex pulls high grade at Fire Creek

Vancouver — Klondex Mines (KDX-V) has intersected several high-grade gold zones, as well as lower grades, over impressive widths at its Fire Creek property in Nevada’s Battle Mountain-Eureka trend.

The 5,000-acre property is in Lander Cty., 15 miles north of the Pipeline and 20 miles north of the Cortez mines.

Drill crews investigated the depth extent of high-grade gold found in structures during previous drilling, which resulted in a 5-ft. intercept grading 2.46 oz. gold per ton.

Results for the first three angle holes from the recent phase have been released. Before reaching its target, hole 17 encountered 10 ft. grading 0.404 oz. gold and 10 ft. of 0.334 oz. gold; both were in a 50-ft. interval of 0.169 oz. gold at a depth of 1,010 ft.

Drilling also cut 20 ft. grading 0.421 oz. gold per tonne, and 25 ft. grading 2.594 oz. gold, including a 5-ft. section of 12 oz. gold.

Hole 16 returned three intercepts, beginning at 690 ft. down-hole.

The best intercept was 80 ft. grading 0.071 oz. gold and 0.06 oz. silver per ton starting at a down-hole depth of 1320 ft., including 15 ft. of 0.157 oz. gold and 0.8 oz. silver. Farther up-hole, starting at a depth of 690 ft., were two 10-ft. intercepts grading 0.762 oz. gold with 0.22 oz. silver, and 0.087 oz. gold with 0.1 oz. silver.

Another hole cut 170 ft. grading 0.11 oz. gold at a depth of 810 ft.

Results for eight more holes are pending.

Shares in Klondex have more than doubled to the $2 level since the latest report of drill results at Fire Creek.