Welcome!

News Feed Item

New Klondike Extends Katisha Lake Option, Attending PDAC

TORONTO, ONTARIO -- (Marketwired) -- 02/26/14 -- New Klondike Exploration Ltd. (TSX VENTURE:NK) ("New Klondike" or the "Company") is pleased to announce that it has entered into an amending agreement with the owners of the Katisha Lake claim, Alexander Glatz and Ivar Joseph Riives (the "Optionors"), to postpone an option payment of $20,000 which was due on January 23, 2014 until August 31, 2014. In consideration for the Optionors' agreement to extend the date for the payment, the Company has agreed to issue 100,000 common shares to each of the Optionors, subject to receipt of regulatory approval. Under the terms of the option agreement, which was fully described in the Company's press release dated February 4, 2013, the Company has the right to acquire a 100% interest in the Katisha Lake claim. The shares, when issued, will be subject to a four-month statutory hold period.

The Katisha Lake claim, located in the Kawashegamuk Lake Area of Northwestern Ontario, consists of 9 claim units covering an area of 144 hectares and is contiguous to the western boundary of the Company's Goldstorm Project. The claim is host to at least eight known gold prospects, as documented in Ontario Geological Survey data files. Reconnaissance scale sampling in July 2013 produced encouraging gold assay values previously announced by the Company in a press release dated September 25, 2013 including the following.

Ten samples taken from four gold prospects located in the southwestern part of the project area, collectively referred to as the Katisha Lake gold zone, assayed an average of 2.18 g/t Au with individual samples ranging from 0.28 g/t to 8.69 g/t Au. The samples were composite grab samples representing mineralized zones ranging in thickness from 0.3 to 0.8 m. Gold mineralization at Katisha Lake is hosted by silicified zones and quartz veining developed within sheared, sericitized and pyritized zones ranging from 1 to 20 metres in width. These zones have been traced by historical exploration programs for lengths ranging from 50 to 300 metres. The zones are hosted within a complex geological setting that includes layered gabbroic sills intruding Archean aged mafic to felsic volcanic and intrusive rocks. All of these rocks are unconformably overlain by a band of Timiskaming-type sediments immediately to the north of the known gold prospects. The July sampling and geological reconnaissance program helped to confirm recent prospector sampling and observations, which indicate that the major trend of the mineralized zones at Katisha Lake is from north-south to northeast-southwest. This trend is contrary to the east-west trends that were the targets of most historical exploration activity, including a drilling program carried out by Esso Minerals Limited in the 1980s.

Grab samples are selective by nature and may not represent average grades for the mineralized zones at Katisha Lake.

Goldstorm Project

The Goldstorm Project claims cover a large area, in excess of 230 square kilometres, within the southeastern part of the Eagle-Wabigoon-Manitou Lakes Greenstone Belt. Five regional scale structures and associated gold mineralization have been identified within or passing through the project boundaries. These include more than 45 kilometres of major fault zones and a 12 to 15 kilometre long band of Timiskaming-type sedimentary rocks that rest unconformably on mafic volcanic and ultramafic to felsic intrusive rocks. Maps and figures depicting the location and geology of the Goldstorm Project have been compiled in a presentation titled 'Goldstorm Project-Northwestern Ontario' available on the Company's website.

Qualified Person

Mr. Seymour M. Sears, B.A., B.Sc., and P.Geo., a director of the Company, has reviewed and approved the technical content of this press release.

Prospectors & Developers Association Convention (PDAC)

The Company will be exhibiting at the PDAC on Tuesday March 4 and Wednesday March 5, 2014 in Booth 2201B and invites shareholders and other investors to visit us for an update.

About New Klondike

New Klondike is an Ontario focused mineral exploration and development company with a primary objective of exploring for and developing base and precious metal deposits on its Goldstorm Project. The Company presently has 18,422,845 common shares issued and outstanding. For further information about New Klondike, please visit our website at www.newklondike.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Forward-Looking Information

This news release contains certain "forward-looking information". All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future, are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of significant risks and uncertainties and other factors that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to, general business and economic uncertainties.

Any forward-looking statement speaks only as at the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
To leverage Continuous Delivery, enterprises must consider impacts that span functional silos, as well as applications that touch older, slower moving components. Managing the many dependencies can cause slowdowns. See how to achieve continuous delivery in the enterprise.
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus...
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Up until last year, enterprises that were looking into cloud services usually undertook a long-term pilot with one of the large cloud providers, running test and dev workloads in the cloud. With cloud’s transition to mainstream adoption in 2015, and with enterprises migrating more and more workloads into the cloud and in between public and private environments, the single-provider approach must be revisited. In his session at 18th Cloud Expo, Yoav Mor, multi-cloud solution evangelist at Cloudy...
Aspose.Total for .NET is the most complete package of all file format APIs for .NET as offered by Aspose. It empowers developers to create, edit, render, print and convert between a wide range of popular document formats within any .NET, C#, ASP.NET and VB.NET applications. Aspose compiles all .NET APIs on a daily basis to ensure that it contains the most up to date versions of each of Aspose .NET APIs. If a new .NET API or a new version of existing APIs is released during the subscription peri...
Security, data privacy, reliability, and regulatory compliance are critical factors when evaluating whether to move business applications from in-house, client-hosted environments to a cloud platform. Quality assurance plays a vital role in ensuring that the appropriate level of risk assessment, verification, and validation takes place to ensure business continuity during the migration to a new cloud platform.
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
Ovum, a leading technology analyst firm, has published an in-depth report, Ovum Decision Matrix: Selecting a DevOps Release Management Solution, 2016–17. The report focuses on the automation aspects of DevOps, Release Management and compares solutions from the leading vendors.
Continuous testing helps bridge the gap between developing quickly and maintaining high quality products. But to implement continuous testing, CTOs must take a strategic approach to building a testing infrastructure and toolset that empowers their team to move fast. Download our guide to laying the groundwork for a scalable continuous testing strategy.
Adding public cloud resources to an existing application can be a daunting process. The tools that you currently use to manage the software and hardware outside the cloud aren’t always the best tools to efficiently grow into the cloud. All of the major configuration management tools have cloud orchestration plugins that can be leveraged, but there are also cloud-native tools that can dramatically improve the efficiency of managing your application lifecycle. In his session at 18th Cloud Expo, ...
SYS-CON Events announced today that LeaseWeb USA, a cloud Infrastructure-as-a-Service (IaaS) provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LeaseWeb is one of the world's largest hosting brands. The company helps customers define, develop and deploy IT infrastructure tailored to their exact business needs, by combining various kinds cloud solutions.
StackIQ has announced the release of Stacki 3.2. Stacki is an easy-to-use Linux server provisioning tool. Stacki 3.2 delivers new capabilities that simplify the automation and integration of site-specific requirements. StackIQ is the commercial entity behind this open source bare metal provisioning tool. Since the release of Stacki in June of 2015, the Stacki core team has been focused on making the Community Edition meet the needs of members of the community, adding features and value, while ...
Qosmos has announced new milestones in the detection of encrypted traffic and in protocol signature coverage. Qosmos latest software can accurately classify traffic encrypted with SSL/TLS (e.g., Google, Facebook, WhatsApp), P2P traffic (e.g., BitTorrent, MuTorrent, Vuze), and Skype, while preserving the privacy of communication content. These new classification techniques mean that traffic optimization, policy enforcement, and user experience are largely unaffected by encryption. In respect wit...
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.