Message #48 From:
NewsBot Date: November 2, 2006 10:47:00 AM
KDSM News Klondike Star Geophysical Survey Increases Lone Star Drill Targets
SEATTLE--(BUSINESS WIRE)--Donald W. Flinn, P.Eng., Vice-President, Operations for Klondike Star
Mineral Corporation (OTCBB:KDSM) is pleased to announce the completion
of over 35 line-kilometers or 22 miles of IP (induced polarization)
geophysical surveys at the Lone Star Project.
The survey is one of several elements of an expanded exploration effort
on the Lone Star Project. This work is advancing geological
understanding of the Lone Star Zone and the entire Buckland Zone, two of
four targeted zones of the Lone Star Project.
Aurora Geosciences Ltd. of Whitehorse was contracted to perform the
survey, under the supervision of Dave Hildes, Ph.D., P. Geoph. Three cut
line grids were prepared by company personnel to cover the northwest and
southeast extensions of the Lone Star Zone, and the entire Buckland
Zone, located about 1.5 kilometers or 0.9 miles to the south of Lone
Star. The Time Domain IP and Resistivity surveys were completed over the
course of about four weeks.
Bill Mann, M.Sc., Exploration Manager stated “Gold
at the Lone Star Project is associated with disseminated pyrite, and IP
geophysics is the most appropriate tool for delineating this style of
mineralization.We’re looking forward
to drilling some of the new targets that have been identified by this
survey.”
Final interpretation of the results of the surveys is expected this
winter, however, it is apparent from the preliminary pseudo-sections
that several anomalous trends are present. This will help to focus the
ongoing drilling program and the setting of priorities for next year’s
planned drilling program expansion as well.
Geophysical surveys help to detect mineralized bodies based on their
magnetic, conductive, resistive, radioactive and gravimetric properties.
These geophysical survey methods depend on significant contracts between
the properties of the minerals sought as compared to the enclosing
rocks. Since the properties of several minerals, rocks and rock
structures overlap, the results of geophysical surveys (called “anomalies”)
are generally only indicative of favorable zones, or targets, and
physical investigation, usually drilling, is necessary to determine the
character of the causative body.
Mann says, “The thing to understand
is that IP is very sophisticated, expensive, powerful and reasonably
accurate, and that it is the only geophysical method that is likely to
be helpful for this target. The IP will allow us to focus and continue
the success of our drilling on the Lone Star Project.”
Klondike Star is currently focusing exploration efforts at its
majority-owned Lone Star Project that includes 1,056 mineral claims and
crown grants involving an area of 151.7 square kilometres (or 58.6
square miles) on the Lone Star Zone, the Nugget Zone, the Buckland Zone
and the 27-Pup-Dysle-Veronika Zone. All four zones extend over large
areas with excellent opportunity for the existence of multiple
mineralized zones, along both strike and dip. They belong to a class of
structures which have potential for large, medium-grade, bulk-tonnage
ore bodies.
Gold on the Lone Star property is present as coarse free gold, with
pyrite in disseminations, and locally is associated with narrow
discordant quartz veins. The mineralized zones are associated with
quartz-carbonate-pyrite alteration, and are hosted by felsic
metavolcanic schist.
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.
