Klondex Mines Ltd. (TSX:KDX,OTCQX:KLNDF) announced that its June underground development program that targeted the Joyce and Vonnie structures yielded 1,302 tonnes (1,435 tons) of mineralized material, at an average grade of 119.8 g/t (3.49 opt) Au, using a 1,714.7 g/t (50 opt) cap on Au sample results.
As quoted in the press release:
…reported that its underground development program targeting the Joyce and Vonnie structures yielded 1,302 tonnes (1,435 tons) of mineralized material during June at an average grade of 119.8 g/t (3.49 opt) Au using a 1,714.7 g/t (50 opt) cap on Au sample results. Details of the grades encountered along the Joyce and Vonnie structures sampled in June are outlined in press releases dated June 27, 2013 and July 10, 2013. The underground development program is expected to continue through the remainder of 2013. Assays were performed by SGS Minerals Services of Elko, Nevada (an independent laboratory), under the supervision of Klondex staff.
Klondex Mines Ltd. General Manager, Mike Doolin, said:
We’re extremely encouraged by the grades and continuity of widths encountered during this month’s program along the Joyce and Vonnie structures and look forward to shipping our material in the coming weeks. Proceeds received from monetizing our material will be used towards funding a second drill, follow-up work on recent discoveries, and also toward continued waste development in anticipation of our 2014 bulk sampling program. Our resource estimate is progressing well and will be released within the coming weeks. In addition, while our team is focused on the exploration and development program, our vent raise contractors are making steady, but slower than expected progress, and now anticipate completion by early September.