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Klondex Mines’ True North project continues to show true potential
The True North gold mine continues to show its true potential, Klondex Mines Ltd (NYSE:KLDX, TSE:KDX) revealed today.
The gold and silver producer reported a 32% increase in the higher confidence measured and indicated (M&I) resource estimate for the project in Manitoba, Canada and a 45% uplift in the inferred resource.
Grades in both estimates lifted..
The grades of both estimates were also lifted by 2% and 10%, respectively.
The M&I resource came in at 1.797mln tons grading 7.40 grams per ton (g/t) for 388,000 ounces of the yellow metal.
This was an increase of about 32% from the September 2016 estimate.
The report put the inferred resource at 3.676mln tons at 6.24 g/t for 668,000 ounces of gold – around a 45% increase.
An important asset..
Klondex chief executive Paul Huet said: “True North continues to evolve into an important asset in our portfolio.
“We believed our initial Mineral Resource Estimate was just the beginning and this update confirms that belief.
“Using the results from our own drilling program post acquisition, we continue to unlock the true potential of this asset by adding ounces at depth with additional tons at higher grades.”
The estimate was based on 7,877 drill holes and includes data from 131 new drill holes sunk by Klondex since May last year.
In addition to the drilling, it also includes 29,124 channel samples provided from mining on the mineralized structures.
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/175617/klondex-mines-true-north-project-continues-to-show-true-potential-175617.html
