ELKO, NV and VANCOUVER, BC--(Marketwired - Jul 29, 2013) - Klondex Mines Ltd. (
June's 1,435 tons are in addition to 682 tons in May, for a total of 2,117 tons that will be shipped to Newmont for processing; initial payments are expected in August (see July 25, 2013 press release). July activities are expected to be more in line with May's development, resulting from the areas of the project being developed.
Mike Doolin, Klondex General Manager, stated, "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."
Mr. Doolin added, "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."
The technical information contained in this press release has been approved by Steven L. McMillin, CPG-11031 (American Inst. of Prof. Geol.), Chief Geologist for Klondex Mines Ltd., as a non-independent Qualified Person for the purposes of National Instrument 43-101.
About Klondex Mines Ltd. (www.klondexmines.com)
Klondex Mines is focused on the exploration and development of its Fire Creek gold deposit in North-Central Nevada. Fire Creek is a compelling gold project located in a mining-friendly jurisdiction, near major producers, power, transportation, mining infrastructure and its milling facility. At July 25, 2013, Klondex had 64.4M shares issued and outstanding and 86.8M shares, fully diluted.
This news release contains certain information that may constitute forward-looking information under applicable Canadian securities legislation, including information about the magnitude and quality of the Fire Creek Project the results of exploration and metallurgical sampling at the Fire Creek Project, the Company's intention and ability to monetize mineralized material, timing of the updated mineral resource estimate at the Fire Creek Project and the bulk sampling program. This forward-looking information entails various risks and uncertainties are based on current expectations, and actual results may differ materially from those contained in such information. These risks and uncertainties include, but are not limited to the risks and hazards associated with environmental compliance and permitting for its underground operations, the strength of the global economy; the price of gold; operational, funding and liquidity risks; the degree to which mineral resource estimates are reflective of actual mineral resources; the degree to which factors which would make a mineral deposit commercially viable are present. Risks and uncertainties about the Company's business are more fully discussed in the Company's disclosure materials filed with the securities regulatory authorities in Canada and available at www.sedar.com. Readers are urged to read these materials. Klondex assumes no obligation to update any forward-looking information or to update the reasons why actual results could differ from such information unless required by law.