Kestrel Gold Inc. announces the completion of a geophysical survey at Kestrel’s King Solomon Dome Property south of Dawson City, in the Yukon Territory (“KSD“).
The Survey is intended to map the geophysical properties of resistivity and chargeability of the subsurface down to a depth of 500 metres. SJ Geophysics Ltd. of Delta, British Columbia using their new Volterra-3DIP system in conjunction with a magnetometer survey over a grid approximately 1.6 km by 1.6 km, has been focusing on the area encompassing the Sheba and Mitchell workings which lie within a large gold geochemical soil anomaly. This second phase of deeper geophysical work is envisaged to give a much clearer (3D) picture of the morphology of structures, contrasting lithologies and additional potential drill targets at greater depths. The Survey follows on from the first phase of geophysical work conducted in 2011 which was successful in outlining a large chargeable IP anomaly centred in the area around the Sheba showing and trending towards the Mitchell Shaft to the north over a distance of approximately 1.2 km open along strike and extending to depth.
William Taylor, the Vice President Exploration of Kestrel comments: “We know from work done to date the importance of regional scale NNW trending D4 structures at KSD in relation to Klondike gold mineralization. This survey will help us better understand the other factors that have concentrated the gold and other path finder elements in this particular area where the signatures are so relatively high.”
A number of drill targets have already been outlined at KSD and the results of the Survey are anticipated to be received in advance of the Corporation’s planned 2012 diamond drill program.
King Solomon Dome is a 4050 foot peak in the Yukon Territory of Canada. It is believed to be the source of the gold fields that sparked the Klondike Gold Rush in the early 1900’s (link to Yukon Gold Mining – Klondike). Kestrel has an option to earn 100% interest in four individual properties in the King Solomon Dome. The option will require Kestrel to make staged payments totaling $920k over a period of 4 years, issue 150k shares and fund exploration expenses of up to $100k.
Previous soil sampling within the project area claims had encountered 3 main anomalous zones, each at least 1.0km in length and varying from 25 metres to 400 metres in width, with soil geochemical values of up to 965 ppb Au associated with occasional highly anomalous arsenic, antimony and lead. This metal signature is common to White Gold area mineralized zones such as the Golden Saddle and Arc deposits held by Kinross Gold (formerly Underworld Resources). Recent trenching of these anomalies has encountered mineralization including narrow high-grade zones often containing visible gold with grades ranging up to 14,700 ppb (14.7g/t) Au over 1.9m, 8100 ppb Au over 1.9m and 40,670 ppb Au (40.7 g/t) over 0.7m; as well as broad intervals with grades such as 1622 ppb (1.6 g/t) Au over 8.4m and 2242 ppb (2.2 g/t) Au over 18.2m.