• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • Australia
      North America
      World
    Login
    Investing News NetworkYour trusted source for investing success
    • North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Metals
    Tech
    Life Science
    Precious Metals Market
    Precious Metals News
    Precious Metals Stocks
    • Precious Metals Market
    • Precious Metals News
    • Precious Metals Stocks
    gold investing

    Gold Junior Klondex Releases Maiden Resource Estimate for Hollister

    Priscila Barrera
    Jun. 22, 2017 04:30PM PST
    Precious Metals
    NYSE:MKT

    The numbers are “very encouraging,” and the company expects to produce 30,000 to 35,000 ounces of gold at Hollister this year.

    Gold junior Klondex Mines (TSX:KDX,NYSEMKT:KLDX) published a maiden resource estimate for its Hollister project in Nevada on Wednesday (June 21), and the company says the numbers are “very encouraging.”
    The resource estimate is based on historic drill results and data generated from additional drilling done by Klondex after acquiring the property in August last year.
    “Approximately 74 percent of the total mineral resource estimate is in the measured and indicated category and sits within both the newly discovered Gloria system, that remains completely open to the West, and in the Hollister main zone,” Klondex President and CEO Paul Huet said in a statement.
    The property has a measured and indicated resource of 428,600 tons grading 17.4 g/t gold equivalent, or 217,500 gold equivalent ounces. Its inferred resource stands at 176,000 tons grading 15.3 g/t gold equivalent, or 78,300 gold equivalent ounces.


    The results do not include any drill results from the Hatter Graben zone, which the company will begin work at this week. Even so, the start of gold mining at Hollister is now a step closer.
    “This new resource provides us a platform and several select areas to begin our mining at Hollister,” Huet said. He also noted that the ramp up of operations is on track, and the first stockpiled tons will be processed by the nearby Midas mill during the third quarter of this year.
    “Production from bulk sampling is expected to continue to progressively increase over the second half of the year, and we continue to expect to meet our annual operational guidance,” Huet added.

    The company plans to produce a total of 30,000 to 35,000 ounces of gold from Hollister by the end of the year. Klondex has three other producing properties as well: the Fire Creek and Midas mines in Nevada, and the True North mine in Manitoba. Huet speaks about those operations in the video below:


    While Klondex gained 1.44 percent pm the TSX on Wednesday after the resource estimate came out, some analysts said they expected more from the report. BMO said in a note that the results are “somewhat disappointing” and lowered its target price for Klondex to C$5.25 from C$5.75.
    As of Thursday (June 22) at 1:30 p.m. EST, Klondex shares were trading hands at C$4.66 on the TSX. The company is down 26.88 year-to-date, partially due to the GDXJ rebalancing, and Frank Holmes of US Global Investors (NASDAQ:GROW) has said now is a good time for investors to buy on the cheap.
    Don’t forget to follow us @INN_Resource for real-time news updates!
    Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
    klondex minesdrill resultstsx:kdxgold investingfrank holmesnyse:mkt
    The Conversation (0)

    Go Deeper

    AI Powered
    Gold nuggets on dark ground.

    Top 5 Junior Gold Mining Stocks on the TSXV in 2025

    Heliostar Drills 88 m Grading 8.82 g/t Gold in Resource Conversion Drilling and Adds Third Drill Rig at Ana Paula

    Heliostar Drills 88 m Grading 8.82 g/t Gold in Resource Conversion Drilling and Adds Third Drill Rig at Ana Paula

    Latest News

    Locksley Reports High-Grade Antimony Concentrate at Significantly Higher Grades than Comparable American Projects in Initial Metallurgical Test Work of Surface Samples from the Company's Desert Antimony Mine Project in California

    Golconda Gold Ltd. Releases Q3 2025 Production Update

    Kobo Resources Intersects 17.0 m at 3.87 g/t Au, Further Defining High-Grade Gold Mineralisation at its Kossou Gold Project

    Canada One Mining: Positioned for Significant Copper Discovery in  British Columbia

    Locksley Produces High Grade Antimony Concentrate

    More News

    Outlook Reports world

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
    • Energy
      • Uranium
      • Oil and Gas
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Industrial Metals
    • Agriculture
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Gaming
      • Cleantech
      • Emerging Tech
    Life Science
      • Biotech
      • Cannabis
      • Psychedelics
      • Pharmaceuticals

    Featured Precious Metals Stocks

    Blue Jay Gold

    Providence Gold Mines

    PHD:CC

    Mount Hope Mining

    MHM:AU

    Walker Lane Resources

    WLR:CC

    Rua Gold

    RUA:CC

    Golconda Gold

    GG:CC
    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES