Donald W. Flinn, P.Eng., Vice-President, Operations for Klondike
Star Mineral Corporation (OTCBB:KDSM) today released results from a
productive winter auger drilling program. Drilling was mobilized in
November 2006 and carried through mid-April 2007.
During the recent drilling program, Klondike Star completed 141
holes totaling 967 meters (3,173 feet). This increases the cumulative
three-year total to 415 holes encompassing 3,393 meters (11,132 feet).
Gold was recovered from 100% of the holes in the main target area (107
holes), an extension of the ground where gold was recovered from 100%
of the holes in 2006. In 2005, drilling resulted in gold recovery from
87% of the holes drilled.
The drilling met the Company's exploration objective by
successfully expanding the known mineralized zone identified through
the previous delineation and infill drill programs in 2005 and 2006.
"These results are important as they continue to demonstrate a pattern
of gold distribution with consistent gold values across the entire
width of the property," said Flinn.
The target zone forms a wedge that is 300 meters (984 feet) at the
beginning and broadens to a width of over 1,500 meters (4,921 feet).
To date, the mineralized zone extends over a distance of more than 3
kilometers (1.9 miles) and remains open to expansion to the east and
south. Gold appears to be consistently distributed within this broad
area. The overburden is relatively thin and bedrock is about 7.7
meters (25 feet) deep on average, which indicates a modest amount of
waste stripping.
"Due to these encouraging results and the economic placer gold
potential of the known mineralized target zone, Klondike Star is
accelerating business planning with the intent of making a mine
development decision in the near term," said Flinn.
The Company's goal is to bring a large-scale placer mine into
production. Based on conventional mining methods and the nature of the
permitting regime for placer mining, it would be feasible to bring a
placer mine into production by spring of 2008. Permit applications to
facilitate future mining operations have been submitted and are under
review by environmental assessment and regulatory authorities. In
2006, Klondike Star started test mining under the supervision of an
established Canadian firm specializing in mine engineering and
processing technology. Initial results from the first stage of test
mining were announced in November 2006.
Drilling is conducted using track-mounted hydraulic auger drills
with either 6 or 8-inch diameter augers (6 inches for exploration and
deeper holes). Drill samples are collected in buckets and processed in
a small Long Tom sluice box, which accurately simulates conventional
placer mining equipment. The heavy minerals accumulated in the sluice
are hand panned, and the gold grains picked out. The gold is weighed
using a high precision balance. The holes are drilled on a grid of
drill-holes spaced 30 meters (98 feet) apart along lines spaced 200
meters (656 feet) apart.
About the Indian River Placer Project
The Indian River Placer Project is a development-stage placer gold
exploration property. It is located 40 kilometers from Dawson City in
the heart of the Klondike gold-producing region of the Yukon, Canada.
The Project consists of 214 mineral claims plus 17 leases totaling 37
square kilometers (14.3 square miles). With the exception of a 49%
interest in a small group of claims, Klondike Star holds 100%
ownership of the Project subject to a royalty.
For perspective on the Indian River Placer Project, take the 2007
Live Visual Tour of the Klondike properties on Google Earth at
www.klondikestar.com.
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.
