Klondike Star Launches Drill Program At Spice Gold
Project
SEATTLE, May 8, 2007 (BUSINESS WIRE) – Donald W. Flinn, P.Eng.,
Vice-President, Operations for Klondike Star Mineral Corporation (OTCBB:KDSM)
today announced an exploratory diamond drilling program has commenced on the
Spice property, 40 kilometers east of the community of Ross River in the Watson
Lake Mining District, Yukon, Canada. This builds on field work conducted during
2006 that not only confirms, but expands, the known zone of gold in till
anomalies and identified drill targets.
The property has been explored
since 2000, when a regional geochemical survey conducted by the Yukon
Geological Survey (Yukon Government) identified strong, coincident gold, silver
and epithermal pathfinder elements. Follow-up geochemical sampling identified an
open-ended anomalous zone and samples assayed up to 13.9 grams/tonne gold. An IP
chargeability high and low resistivity coincides with the highest geochemical
values.
“Klondike Star’s investment in the Spice gold
properties is part of our continuing efforts to strengthen and diversify
Company mineral exploration and development prospects,” says
Flinn.
The initial diamond drilling plan involves 5 holes for a projected
700 - 800 meters (2,297 – 2,625 feet). This is expected to shed light on
the hosting stratigraphy and help determine the nature and style of the
mineralization. To get an early start and minimize environmental impacts, a
flyable rig is being deployed and operated by a leading northern diamond
drilling company. The work is being supervised by Jean Paulter, P.Geo., senior
independent consulting geologist. She is a Qualified Person under Canadian
National Instrument 43-101 mineral resource reporting and qualifies as a
Competent Person under U.S. reporting standards.
Since acquiring the
Spice property, Klondike Star has stepped up exploration efforts, and in the
spring of 2006, staking also increased the land base to 51 mineral claims
totaling 10.9 square kilometers (4.2 square miles), an increase of 63%.
Exploration to date has involved till, soil, silt and rock geochemistry,
hand/blast pitting and trenching, ground magnetic, induced
polarization/resistivity and VLF-EM geophysical surveys, a property evaluation,
the delineation of drill targets and petrography.
The Spice Project is
strategically located within the Tintina Gold Belt that hosts numerous gold
deposits and producing mines, notably Fort Knox, Pogo and (former) Brewery
Creek, and active exploration projects in the general vicinity. The target is a
low-sulphidation epithermal-style gold deposit hosted by rhyolite, similar to
the Grew Creek property being explored 60 kilometers (37.3 miles) to the west.
Klondike Star has an agreement for the acquisition of up to 75% interest in the
Spice claims.
For more information please contact:
Wayne Cousins,
Investor Relations
Toll Free (800) 579-7580
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.