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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Klondike Silver Corp | TSXV:KS | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.02 | 0.015 | 0.015 | 0 | 13:30:00 |
In order to extend coverage and expand on the knowledge base of the Main Lode structure up dip the Company may consider re-activation of the accessible Carnation mine 5480 Level workings. A down-hole drilling program from the hangingwall side of the Main Lode into the interval from the Carnation to Silvana would be proposed. A footwall cross-cut and subsequent drilling program from the area of the current 4625 Level drilling would also be proposed to extend coverage of this interval, which has an approximate dip length of 1,500 feet (450 m).
A third phase of southwesterly drift advance on 4625 Level started earlier in the year, was also based on geological information obtained from the recent drilling. It is planned for an approximate a 660 foot (200 m) advance and will similarly be followed by core drilling to further explore the Main Lode structure and its mineralization in this extensive untested area of Company-owned property.
The Company also announces that it has entered into a loan agreement to borrow $400,000 over a 6-month period. The terms include interest at the rate of 10%, cumulative monthly, and the issuance of a bonus of 800,000 shares at a deemed price of $0.05 per share, subject to regulatory approval. There are no warrants or finder's fees involved in this transaction. A security agreement has been completed, and the funds for the loan will be used for operating capital.
About Klondike Silver:
Klondike Silver Corp. has assembled a quality portfolio of silver properties in historic mineral districts in North America, and is applying advanced exploration technologies to add value to these core assets. Klondike Silver is reviving the Gowganda and Elk Lake silver camps in Ontario, and the world-famous Klondike district of Yukon Territory. The Company owns a 100 TPD fully operational flotation mill in Sandon, BC, which processes material from local mines in the historic Slocan Silver Camp.
The Qualified Person for the purpose of National Instrument 43-101 is Edward Craft, PEng, who has read and agreed with the technical information in this news release.
The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy or contents of this news release.
Contacts: Corporate Inquiries: Klondike Silver Corp. Kevin Hull (604)-685-2222 Klondike Silver Corp. Alan Campbell (604)-685-2222 info@klondikesilver.com www.klondikesilver.com
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