Wednesday, 31st October 2007 (2057 views)

An exploratory drilling programme which lasted for nearly a year has wrapped up at the Indian River gold property, according to Klondike Star Mineral Corporation.

From November 2006 until September 2007, 343 drill holes were completed on the property, which is located near Dawson City in the Yukon Territory, bringing the total number of drill holes on the site to 602.

According to the company, there was nearly a 100 per cent gold recovery rate from holes drilled in the main target area, with gold fineness levels of 82.27 per cent.

According to Donald W Flinn, vice president of operations for Klondike Star, the exploration results for the mineral resource - including drilling, analysis of the targeted development area and mapping - are currently being used to determine the extent of the known gold resources on the property.

"We have a measured mineral resource that is being evaluated for reporting as probable mineral reserves," he said.

According to the company, a 12-person mining camp was set up on the Indian River gold property earlier in 2007 to support further exploration and mine development on the site.

Klondike Star is currently exploring gold properties in Canada's Yukon Territory and Egypt.

 

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