Klondex Provides Initial Open-pit Resource Estimate for Fire Creek Mine

Klondex Mines Ltd. (TSX:KDX,NYSEAMERICAN:KLDX) released an initial open-pit resource estimate for its Nevada-based Fire Creek mine.
The resource estimate incorporates results from 2017 open-pit surface and underground exploration drilling, and is in addition to the company’s previously announced underground resource estimate for the project.
According to the press release, highlights include:

• Total Indicated Mineral Resource estimate of 42.9M tons grading 0.026 AuEq opt (0.88 AuEq g/t) for a total of 1.1M AuEq ounces
• Total Inferred Mineral Resource estimate of 31.7M tons grading 0.035 AuEq opt (1.19 AuEq g/t) for a total of 1.1M AuEq ounces
• This initial Mineral Resource estimate excludes all underground Mineral Resources reported at Fire Creek, however there is potential to mine relatively higher grade underground resources, outside the underground mine plan, from surface
• The open pit mineralization is open to the north, south and west
• The Company will remain focused on mining and further delineating the high grade underground veins while looking for strategic alternatives to advance and develop the bulk tonnage open pit Mineral Resource

Paul Huet, president and CEO of Klondex, commented:

The results of this initial open pit drill program are extremely exciting for Klondex. We believe that the addition of these open pit mineral resources has the potential to significantly extend Fire Creek’s mine life. Fire Creek continues to demonstrate it is a world-class property and we now have data suggesting the underground and open pit potential is robust with the possibility for these resources to significantly expand with our continued district exploration programs. We will continue to maximize the full value of this asset for our shareholders. Management will continue to focus our efforts on the higher grade, underground mineralization while exploring and evaluating strategic alternatives to advance and develop the open pit potential of this asset.

Click here to read the full Klondex Mines Ltd. (TSX:KDX,NYSEAMERICAN:KLDX) press release.