Message #46 From:
Stock News Bot Date: October 24, 2006 08:48:00 AM
KDSM News Klondike Star Acquires Diamond Drill
SEATTLE--(BUSINESS WIRE)--Donald W. Flinn, P. Eng., Vice-President, Operations for Klondike Star
Mineral Corporation (OTCBB:KDSM) is pleased to announce the Company is
building the capacity to meet its own diamond drilling requirements in
the future.
Klondike Star has purchased one new, state-of-the-art diamond drill rig
and will take delivery late October. It will be staffed by expert, local
crews complemented by a planned training initiative with the Tr’ondëk
Hwëch’in First
Nation of the Yukon. One of the practical operational risks pervasive in
the mineral exploration industry relates to the shortage of diamond
drilling resources. Klondike Star, too, has experienced challenges
obtaining qualified drilling capacity for planned levels of drilling on
two of Klondike Star’s eight exploration
projects this summer/fall.
“We are targeting every potential spot in our
exploration infrastructure and services that may impair achievement of
our aggressive exploration objectives,” said
Donald W. Flinn, Vice-President. “As part of
managing pro-actively, this initiative is expected to give Klondike Star
more capacity, flexibility and control over our drilling programs.”
The drill rig will supplement existing third-party diamond drilling
services that will continue to be used for production drilling. The new
rig will be used primarily for specialty holes including known drill
targets stepping out for delineation of ore bodies on the Lone Star
Project. It is mobile and well suited for remote fly-in locations and,
if needed, could be deployed on the Ultra Project and the Spice Project.
Flyable rigs also may remove the need for additional mining land use
permits in many circumstances, thereby allowing the company greater
flexibility.
About Klondike Star
Klondike Star Mineral Corporation is an established exploration and
development company actively working on eight major properties,
totalling 463 square kilometers (179 square miles) in the Yukon Canada.
The company is developing extensive surface and subsurface mineralized
zones on a 370 square kilometer (143 square miles) land position
underlying the site of the Klondike gold producing region in the Dawson
mining district. These holdings include, but are not limited to
properties known as the Lone Star Project and the Indian River Placer
Project, both advanced stage exploration. Additionally, Klondike Star
holds interests in 93 square kilometers (36 square miles) of select high
potential targets for gold, base and precious metals in the Watson Lake
and Whitehorse mining districts of the Yukon.
The statements in the press release that relate to the company's
expectations with regard to the future impact on the company's results
from new products or actions in development are forward-looking
statements, within the meaning of the Private Securities Litigation
Reform Act of 1995. The statements in this document may also contain
"forward-looking statements" within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934. Since this information may contain statements that involve risk
and uncertainties and are subject to change at any time, the company's
actual results may differ materially from expected results.
