Klondex Mines up 5.2% after announcing 132.8 g/t Au over strike length of 144.2m

Klondex Mines (TSE:KDX) announced today that it hit 30,228.7 g/t (881.7 opt) Au over 0.2m (0.7ft) 106' South of 5400 crosscut at its Fire Creek project in Nevada, US.

The stock was up 5.22% to $1.21. The company's 52-week range is 91 cents to $1.51.

Here is part of the company's news release.

Klondex Sampling Averages 132.8 g/t (3.87 opt) Au over Strike Length of 144.2m (473ft); Demonstrates Joyce Structure Continuity by Exploration Development

Sampling Highlights:

  • 30,228.7 g/t (881.7 opt) Au over 0.2m (0.7ft) 106' South of 5400 crosscut
  • 632.8 g/t (18.5 opt) Au over 0.5m (1.6ft) 135' North of 5370 cross cut

Elko, NV & Vancouver, BC – July 10, 2013 -Klondex Mines Ltd. (TSX: KDX; OTCQX: KLNDF) is pleased to announce results from its ongoing 2013 exploration and development program on the Joyce (A1) structure at its Fire Creek project, located in Nevada. The weighted average grade of samples from the Joyce structure is 132.8 g/t (3.87 opt) Au along 144.2 m (473 ft) strike, with an average width of 0.6m (2.0ft). This information was derived from 94 face samples ranging from 1.4 g/t (0.04 opt) Au to 30,228.7 g/t (881.6 opt) Au. Joyce channel samples taken from north and south of the 5370 and the 5400 crosscuts are summarized and detailed in tables 1 and 2, respectively.

To date, 144.2m (473 ft) of exploration development is now complete on the Joyce Structure. Previous drilling near the 5400 and 5370 cross cuts demonstrate that the mineralization extends beyond the current boundaries, both along strike and at depth.

Mike Doolin, Fire Creek General Manager commented, "We are obviously very pleased with the results and the valuable perspective the data provides. Not only do these results confirm the continuity of the mineralization along strike, but they also demonstrate the overall grade consistency within the Joyce Structure."

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