KLONDIKE
SILVER CORP.
FOR IMMEDIATE RELEASE
TSXV: KS
www.klondikesilver.com
September 14, 2007
STUMP
PROJECT
Klondike
Silver Corp. (TSXV: KS) is pleased to announce initial
results from trenching at its Stump lead-silver property located in southern
Yukon, about 55 km
southeast of the community of Ross River and 6 km east of the former Ketza
gold mine. The property is accessed via a 5 km bush road that extends
south from a haulage road, which connects the Ketza mine site with the Robert Campbell Highway.
The
lead and silver mineralization at Stump is hosted in a vein that was discovered
by soil geochemistry in the late 1960s. Initial exploration, which
consisted of bulldozer trenching and a few shallow drill holes, produced
encouraging results; but two levels of underground development and deeper
drilling later showed that the mineralization pinches out at depth and along
strike.
In
August 2007, Klondike Silver dug a trench along the best mineralized parts of
the vein. Combined with earlier trenches, this excavation provides
continuous exposure of the vein for a 350 m strike length. Results of the
2007 excavator trenching present a slightly different interpretation than was
suggested by previous bulldozer trenching. These results show that most
of the metal is concentrated in discrete lenses, which should make it amenable
to small scale extraction without on-site benefaction.
Samples
taken from the bulldozer trenches in the 1960s were directed toward evaluation
of underground mining potential and were laid out to conform with a minimum 1.2
m (four foot) mining width. Hence, in many instances narrow very well
mineralized bands were not sampled independent of adjacent lower grade material
because they would have been mixed when blasted and mucked. Sampling on
this basis outlined a 247 m long zone that reportedly averages 855 g/t (25 opt)
silver and 22 % lead over a 1.2 m width.
The
2007 sampling was done with a focus on select surface extraction of the best
mineralized material. Mapping of the vein outlined six main lenses of
semi-massive to massive galena, which range from 7 to 30 m in length and 10 to
40 cm in width. These lenses have an aggregate length of 75 m and average
about 25 cm in width. Their potential to depth is uncertain; but based on
reported results from underground workings and drill holes, they likely become
gradually thinner with increasing depth. None of the old core has been
located and the portals to the adits are caved. Surface mapping also
indicates that vein width and intensity of mineralization are strongly
influenced by wallrock competencies with the widest, best mineralized lenses
occurring in moderately to thickly bedded dolomitic siltstone. Where the
veins cut thinly bedded siltstone, they are narrow and only weakly mineralized.
Sawn
channel samples were taken in 2007 across the vein at regular 5 m intervals
along a length of 300 m. Galena
rich exposures were sampled independent of the surrounding weakly mineralized
material. The samples arrived at ALS Chemex in Vancouver during the first week of
September. Assays will be reported when available.
In
most areas the soil that overlies the vein and the adjacent wallrocks was
easily excavated. The vein exhibits a relatively consistent northerly
strike and has a moderately steep (about 58�) westerly dip. Bedding in
the hangingwall siltstones is shallow to moderate toward the southwest.
The dip of the vein is into the hillside but the slope is gentle to moderate.
In
late August a total of 80 tons of lead- and silver-rich material was extracted
from four lenses along different parts of the vein. This bulk sample has
been transported to Klondike Silver’s mill at Sandon, B.C. where it will
be crushed and sampled. Depending upon the grade it may be milled to
produce a concentrate or directly shipped to the Teck Cominco Limited smelter
at Trail, BC.
The
2007 exploration program for the Stump property is being carried out under the
supervision of Bill Wengzynowski, P.Eng, President of Archer, Cathro &
Associates (1981) Limited.
The
technical information in this news release has been prepared in accordance with
Canadian regulatory requirements set out in National Instrument 43-101.
Mr. Wengzynowski is designated as the qualified person who reviewed this
information.
On behalf of the Board of
Directors
KLONDIKE SILVER CORP.
“Richard W. Hughes”
(signed)
President
For Further
Information Contact: The Hughes Exploration Group at (604)
685-2222
Or
visit the Company’s website: www.klondikesilver.com to see
the Smartstox Report in which Stanlie Hunt interviews Klondike Silver Corp.
President Richard Hughes.
This document
contains certain forward looking statements which involve known and unknown
risks, delays and uncertainties not under the corporation’s control which
may cause actual results, performance or achievements of the corporation to be
materially different from the results, performance or expectation implied by
these forward looking statements.
The TSX
Venture Exchange has not reviewed and does not accept responsibility for the
adequacy or accuracy of this news release.
