Message #51 From:
NewsBot Date: December 21, 2006 09:39:00 AM
KDSM News Klondike Star Announces Major Stepout Drilling at Lone Star
SEATTLE--(BUSINESS WIRE)--Donald W. Flinn, P.Eng., Vice-President, Operations for Klondike Star
Mineral Corporation (OTCBB:KDSM) is pleased to announce the results from
holes 14 to 18 drilled to the northwest of the Lone Star Zone and
related trenching from this area late summer. The Lone Star Zone is one
of four primary gold exploration targets in the 58.7 square mile (152
square kilometer) project.
These diamond drilling and trenching results are significant as they
confirm that the Lone Star Zone continues to remain open in every
direction. In particular, they add confidence the Lone Star Zone has
potential for an additional northwest strike extension of at least 700
meters to 1000 meters beyond the previously drill defined 800 meter
strike length. The zone is also open to expansion to the east and in
places to the north and at depth.
“These results continue to validate the
Company’s fundamental and promising appraisal
of the Lone Star properties”, says Bill
Mann, M.Sc., Manager of Exploration. “The
Lone Star represents an extensive mineralized area with a large tonnage,
low grade gold resource augmented by higher grade zones that warrants
continued exploration and intensive evaluation for potential mine
feasibility and development”.
These holes located in the O’Neil Gulch area
are up to 775 meters northwest of any previous drilling, and all
intersected anomalous to low grade gold values over significant widths.
Of particular interest are holes 15 and 16, which were both terminated
at less than 33 meters length, well before reaching their target, and
intersected up to 0.66grams/tonne gold over 13.72 meters at the bottom
of hole 16.
These holes are the most northwesterly holes drilled at the Lone Star
Zone, and were testing an area where an old hand dug shaft was located,
containing gold-bearing quartz veins. Holes 15 and 16, drilled from the
same setup, intersected highly altered and faulted rock thought to be
related to a low angle thrust fault which underlies the main Lone Star
zone at depth. The thrust fault is thought to be an important structure
for ground preparation prior to gold mineralization.
Trenching 300 meters beyond these holes intersected further broadly
anomalous rocks along the Lone Star trend. Trench 06TR-07 is 340 meters
long, and returned anomalous to interesting chip sample values over a
185 meters length, up to 279 ppb gold over 5 meters.
This area northwest of the previously drilled Lone Star Zone was tested
by IP survey on the Lone Star West grid this summer. When the
interpreted results of this survey are available, it is expected to help
refine drill targets for the 2007 drilling season.
Hole 06LS-14 is thought to have tested rocks just below the thrust
fault, which are thought to have lower potential to host gold
mineralization than those above it. Holes 06LS-17 and 18 were drilled
from a single setup midway between the Lone Star Zone and holes 15 and
16. These holes were drilled beneath a 2005 trench which returned
anomalous values near the interpreted north side of the Lone Star trend.
Subsequent to these holes, the drill was moved to the northwest end of
the Lone Star Zone to test for extensions of the mineralized zone.
Diamond drilling for 2006 was completed at the end of October and
results from holes 19-23 are forthcoming.
About the Lone Star Project
Lone Star is an advanced exploration stage project that is being studied
for mine development. Of its eight projects, Klondike Star is currently
focussing exploration efforts at the majority-owned Lone Star Project.
It is comprised of 1,056 mineral claims and crown grants involving an
area of 152 square kilometres (or 58.7 square miles) including the Lone
Star Zone, the Nugget Zone, the Buckland Sheer 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.
Diamond drilling results, holes 14-18
ASSAY TABLE
From
To
Interval
GOLD
HOLE No.
Azimuth
DIP
metres
metres
metres
grams/tonne
06ON14
--
-90
88.00
92.00
4.00
0.19
06ON15
200
-60
11.00
28.00
17.00
0.36
including
16.85
24.50
7.65
0.65
060N16
237
-60
12.80
26.52
13.72
0.66
06-LS-17
185
-80
22.40
25.20
2.80
0.72
and
49.00
52.00
3.00
0.67
and
94.00
94.70
0.70
1.32
and
111.80
115.60
3.80
0.81
including
112.50
113.50
1.00
2.01
06-LS-18
185
-50
58.00
59.00
1.00
0.52
and
102.00
103.00
1.00
0.74
and
124.00
133.00
9.00
0.21
HQ size drill core is delivered to the core shack by the drill
contractor, where the geological staff photographs and logs the core for
geological and geotechnical details. The core is then sawn in half
lengthwise using a diamond saw, with half core retained for future
examination. The half core samples are sealed and shipped via surface
freight to Acme Analytical Laboratories Ltd. of Vancouver, B.C., an ISO
9001:2000 accredited facility, where the core is dried, crushed and
analyzed for gold by metallic sieve fire assay.
About Klondike Star
Klondike Star Mineral Corporation is an established exploration and
development company actively working on eight major properties,
totalling 463 square kilometers or 179 square miles in the Yukon,
Canada. The company is developing extensive surface and subsurface
mineralized zones on a 370 square kilometer or 143 square mile 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 or 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.
