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Klondike Gold Corp. (TSXV:KG) reported the beginning of construction under the terms of the newly signed Joint Venture Agreement with 46799 Yukon Inc. at the Indian River Project.
Klondike Gold Corp. (TSXV:KG) reported the beginning of construction under the terms of the newly signed Joint Venture Agreement with 46799 Yukon Inc. at the Indian River Project.
As quoted in the press release:
As part of the Joint Venture Agreement, Klondike Gold will provide the property and an extensive exploration database, while 46799 Yukon Inc. will provide the equipment and initial capital to the JV. Once these contributions are made, each partner will have a 50% participating interest in the JV and ongoing operations. An operating company has been formed to operate the mine under the supervision of an experienced placer-mining team appointed by the JV partners. A preliminary construction camp is being set up while the permanent camp site is prepared. A track-mounted auger drill has started drilling for mine planning and grade-control purposes. Two Caterpillar D9N bulldozers have arrived on the property and will start on-site preparation and overburden stripping while other mining and processing equipment is mobilized to the property. Stripped overburden gravels and sterile gravel layers will be used to improve the internal road system and for the building of an airfield, thereby improving project infrastructure without additional operating or construction cost.
Click here to read the full press release. Â
