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Company Statement
Klondex Mines (TSX: KDX; Other OTC: KLNDF) is engaged in acquiring, exploring and developing gold and silver properties in Nevada and has to date identified an Indicated Mineral Resource in excess of 1.6 million ounces of gold (and a comparable amount of silver) via its deep drilling program at its 100% owned Fire Creek Property.
Klondex is focused on the exploration and development of Fire Creek on the Northern Nevada Rift in North Central Nevada, an area of substantial mining activity which has produced in excess of 100 million ounces of gold. In addition to Fire Creek, Klondex's property portfolio contains three other gold exploration projects covering over 12,615 acres or 19.7 square miles. During 2007, the Fire Creek property was expanded to include the nearby Corral Canyon and Woodtick properties, thereby consolidating them into one program. All three of Klondex's properties are located in areas with strong gold exploration prospects.
Current Operations
Klondex Mines Ltd. has either ownership or vital interest in approximately 13,008 acres—or sixteen square miles—in the prime area of northern Nevada's mining industry.
Map locations of our chief mineral properties define our strategic placement within the areas of Nevada's gold and silver deposits.
Fire Creek
Fire Creek is Klondex Mines' flagship property in North Central Nevada where the Company has discovered an NI 43-101 compliant Indicated Mineral Resource exceeding 1.6 million ounces of gold equivalent and an Inferred Mineral Reserve of over 500,000 ounces of gold.
Fire Creek is located in Lander County near the center of the Battle Mountain gold belt in Crescent Valley, approximately ten miles northwest of the massive Pipeline deposit of Barrick (7 million ounces) and five miles southeast of the Mule Canyon deposits of Newmont (3 million ounces). All of this mineralization exists in volcanics within the trend in Crescent Valley that runs south as far as Buckhorn (Barrick).
Maggie Creek
Klondex holds a 66.66% interest in 48 claims in the Schroeder Mountain quadrangle. The property is on three separate sections miles located about three miles northeast of Newmont's Gold Quarry mine and 1.5 miles east of the old Queen Anne mine in the heart of the Carlin Trend. The mine and mill complex at Gold Quarry was built at an estimated cost of U.S. $200,000,000, and is considered to be Newmont's crowning financial and mining achievement. Gold Quarry produced 1.6 million ounces of gold in 1996. Numerous small pits can be found throughout the property which have been dug on mineralized surface outcrops. (Updated June 2009)
Hot Springs Point
Klondex has 42 claims at Hot Springs Point, about six miles east of the town of Crescent Valley. The claims are in a basalt-andesite geological setting close to a sulfur deposit. The original claims were staked in 1993 and were reduced by "checker boarding" in 2003 to lower filing costs while retaining the land position.
Reef
The 8 Reef claims in the Fairchild district of Churchill County are in the heart of an old silver mining district with production dating back to the late 19th century. The geologic formation is volcanic. Anomalous gold and silver have been detected along a siliceous reef which runs about half a mile. The claims were staked in 1986 and cover much of the exposed mineralized zone which shows evidence of pits, shallow shafts and trench work from prior examinations. The claims are surrounded on all sides with land staked by a major mining conglomerate.
Geographical Spread
Northern Nevada
Board of Directors and Key Management
| William. J. Solloway | President & Director (Delray Beach, FL and New York) |
| Jorge Avelino | Chief Financial Officer (Vancouver, BC) |
| Robert Sibthorpe | Director (Vancouver, BC) |
| Ronald Shorr | Director (New York) |
| Dr. Weiguo Lang | Director (Beijing, China) |
| Brendan J. Donohoe | Treasurer & Director (Westport, CT) |
| James L. Balagna III | Senior Geologist (Winnemucca, NV) |
| Richard Kern | Consulting Geologist (Reno, NV) |
| Frederick L. Baker | Secretary (Vancouver, BC) |
Company AddressSuite 750, 580 Hornby Street
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Additional Address/Key ContactUSA: |
CapitalIssued and Outstanding Common Shares - 25,219,804
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Most Recent Statement
20/01/10 - High-Grade Gold Veins Discovered East of Main Zone in Klondex's 2009 Exploration Program17/12/09 - Klondex Secures BLM Permits for Confirmation Program at Fire Creek
18/11/09 - Klondex Drills 49.9 g/t Over 2.7 Meters (1.46 oz/ton over 12.5 feet) and Reviews Exploration and Permitting Progress at its Fire Creek Property in Nevada
12/10/09 - Klondex Appoints Dr. W. Lang to its Board of Directors
06/10/09 - Klondex to Vigorously Defend Against Baseless Paramount Suit and to File Counterclaim for US $2.85 Million Reverse Break Fee Plus Damages
24/09/09 - Klondex Terminates Agreement with Paramount Gold and Silver Corp. Citing Misleading Mineral Resource Disclosure