Canadian Mining Journal

News

GOLD: Klondex drilling at True North, production decision soon



MANITOBA – Klondex Mines of Vancouver has been busy drilling the True North gold mine and plans to make a reopening decision in Q3 2016.

Klondex has received assays for the first 30 underground drill holes totaling 4,050 metres. Highlights include:

  • 1 g/t over 7.2 metres including 160 g/t over 5.1 metres;
  • 0 g/t over 1.1 metre;
  • 3 g/t over 0.9 metre;
  • 4 g/t over 0.9 metres;
  • 7 g/t over 2.0 metres;
  • 4 g/t over 3.1 metres;
  • 6 g/t over 2.7 metres
  • 7 g/t over 17.1 metres;
  • and 6.9 g/t over 3.6 metres including 20.9 g/t over 0.9 metre.

Klondex purchased the fully permitted Rice Lake gold complex near Bissett in December 2015 and renamed it the True North project. Operating as the Rice Lake complex the mine produced 390,000 oz of gold from 2007 to 2015, when the former owner declared bankruptcy.

Both the mine and plant are in excellent condition, ready to reopen.

The Klondex website it at www.KlondexMines.com.