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donleo, the company is still in it's investigative stage, yes it holds several mines and a 100 ton per day mill but it is still classed as an explorataion company. currently they are sinking a shaft into a mountain to do more drilling into what could be a massive lode structure, all this take smoney and they ahve to dillute to pay for it.
I would suspect that within a couple of months they will have the drilling done and start production as a tier two mining company ( different tax bracket) They have enough reserves for about 20 years and a mill within a couple of miles of the mine. I would see dillution finished here and should be an upward climb once monthly revenues are reported, call the compnay for timelines and more info.
I also read comments saying that KS.V ended up high on lists of (naked) short selling, but I can't find any substantial backup for that.
Anyone knows more about this matter?
Not trying to create a negative vibe here, just trying to inventarize the facts the broadest way possible :)
KS is new to me, but I'm definitely liking what I see.
However, on other boards people are complaining about the continuous dillution of KS.
I didn't yet go through all their financial reports to find out how much exactly the dillution has been during the recent past.
As I value the broad information on this board, I would love to hear some opinions here.
Would anyone of the board members want to give their view on wether the dillution has been in proportion the past year?
Thanks in advance!
Thanks for the welcome! I added some more shares this afternoon. The more I read the more excited I get about this investment. Based on everything I have read, we may have some great news coming out soon on drilling results on a number of current projects. I just watched the interview again with Richard Hughes and he seems really excited about the prospects in Mexico - sounds like it could be huge. I really appreciate this discussion forum - what I read greatly encouraged me to buy KLSVF.
congratulations mining,welcome to the party. I doubt there will be much if any chance to get anymore in the 6's. Once we clear the 8's we could see a good spike up. However the real move won't come until earnings rports in 2nd 1/4. JMO
So there will be time to get lots at bargain prices for long term capital gains
You are welcome! Just bought 100,650 shares of KLSVF today - average price of 0.755 - so glad to join all of you Klondike Silver fans! I am extremely impressed by Klondike's properties, assets, and the management running the company. I am looking forward to some good news in 2010!
Thanks Miningstocks.
Excellent summary on the potential of the Slocan Silver Camp!
I added your post to the stiky post section for quick reference for us and newbies coming to the board.
Thanks,
sumi
its boxing day in Canada!
Hi! I just checked and they are closed today. They will open up again for normal business tomorrow, Tuesday. I was wondering the same thing as I am looking to purchase some KLSVG shares.
Are the Canadian exchanges closed today/ No trades show up for KLSVF nor LSGGF
Slocan Silver Camp
Klondike Silver Corp. (KS: TSX-V)'s vast Slocan holdings contain several past producing mines where over 24 million ounces of silver, 190 million pounds of lead and 113 million pounds of zinc were recovered from approximately 1.6 million mined tons. This past production was discovered as a result of mineralization coming to the surface. Klondike Silver Corp. believes that a substantial amount of mineralization is yet to be discovered by modern exploration methods. To this end, recent trenches cut below the Wonderful mine on geochem and VLF anomalies produced very impressive results including samples up to 135 oz./ton silver and 70% lead and carrying up to 0.1 oz./ton gold. (See Nov.15, 2004 and Feb.19, 2005 News Releases).
These key new discoveries, only a kilometer from the Sandon mill, display the fine grained and sheared texture characteristic of high-grade Slocan silver ore. Application of modern geophysics, geochemistry and follow up trenching on the Wonderful property has strongly encouraged Klondike Silver to systematically apply this technique to the many, steeply dipping silver-lead-zinc veins near the northern margin of the Nelson batholith near Sandon. These vein systems, previously mined in the 1890's and early 1900's are largely covered by thick overburden and lend themselves well to the application of these specific exploration techniques.
Klondike Silver hopes to identify additional new, near surface, silver rich discoveries of both existing mine extensions and blind, overburden covered veins. Further trenching and preparations for diamond drilling along coincident VLF-EM and silver/lead soil anomalies will continue in the spring and summer of 2005. Prime exploration targets where likely vein extensions occur in overburden covered areas are; the Ruth Hope where 2.474 million ounces of silver and 22.3 million pounds of lead was recovered from only 66,754 mined tons; Silversmith where 7.2 million ounces of silver and 71.7 million pounds of lead was recovered from 391,331 mined tons; Hewitt where 1.9 million ounces of silver and 3.9 million pounds of lead was recovered from 124,000 mined tons and the Arlington where over 1.01 million ounces of silver and 2.9 million pounds of lead was recovered from 80,344 mined tons.
Merry Christmas to all snaged a few more shares today Would like to see us form a flag here for a few days.
Doubloon that could be right for a nice pop.However I expect a major pop when 1st 1/4 earning report. Will have nice revenue. But t if they can post in the black earnings but mid year that could explode SP. JMO
jsc52033: hard to say what the time frame to accumulate is, they are ready to start sending ore to the mill so the monthly report of revenues will increase the price per share. Also if they now have the drift ready to drill into the lode structure assume 3 weeks to drill and another 4 to 6 weeks to get the drill results back from the assay office, (these time are purely speculative on my part)
They are not going to sit on their hands for much longer
The Silvana Mine is one of 29 former producers staked or acquired by the Company within the Slocan Camp. Other assets include extensive exploration lands and a fully permitted 100-tonne-per-day (TPD) flotation mill.
Doubloon You say if patient to wait
In you best guess how long is the wait, or in other words what is the remaining time frame to accumulate. TIA
Anyone have an accurate Bid ask? also vol. I show .065 bid .0708 ask last .0658 792840 vol. I have had a bid in at .071 since 9:30 cst.
Incredible risk/reward potential here.
The way they are setting up the news on this one they already know what the drill result will be. Man if they have a lode structure here and if it turns out to be a motherlode then all our research and speculation will be worth while.
This has got to be one of the safest mineral exploration companies I have ever invested in, the risk is low and the return could be life changing or at least could be well worth the wait.
Good luck to us all who have the patience to wait it out.
Klondike Silver Corp. Cuts New Drill Station and Continues Drift Westward in Footwall of Main Lode Structure
- STAGE 2 DRIFT COMPLETED
- DRILL STATION NUMBER TWO TO TEST FOR MINERALIZATION WITHIN LODE STRUCTURE
http://finance.yahoo.com/news/Klondike-Silver-Corp-Cuts-New-ccn-1316092048.html?x=0&.v=1
Press Release Source: Klondike Silver Corp. On Monday December 21, 2009, 9:02 am
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 21, 2009) - Klondike Silver Corp. (the "Company") (TSX VENTURE:KS - News) is pleased to announce it will be cutting a new drill station to advance underground exploration as well as commence a 300 foot extension to the existing drift.
A map and diagram have been prepared highlighting the Company's current underground operations. To view the image, please click on the following link or cut and paste the link into your browser:
http://media3.marketwire.com/docs/KS_Slocan_Plan_View.pdf
Stage #1: A 525 foot drift to the southwest with Drill Station #1 at the end. Drilling here indicated lode structure which directed the Company to go west. (See news release August 27, 2009)
Stage #2: A 300 foot drift (See news release October 7, 2009) westward into the footwall of the Main Lode structure and was recently completed. Drifting in the footwall, or below the lode, will allow the Company to use gravity in the removal of mineralized material should there be any identified within the lode. Drill Station #2 is currently being cut at the end of this drift and diamond drilling will take place in the New Year. Drilling from Station #2 will be towards the Main Lode structure to determine if mineralization is evident. The initial program, approximately 2000 feet planned, is expected to be completed by mid-March.
Stage #3: While diamond drilling is taking place at Station #2, a 300 foot extension to the Stage #2 drift will commence with a diamond drill station cut at the end. This drift will continue on in a westward direction unless the lode structure alters. Work is planned to be completed near the end of February. Drifting may be stopped in the event that mineralized zones are located through diamond drilling from Station #2.
The "Main Lode" structure is more than 8 kilometers long, extending east from Silverton on Slocan Lake to Sandon through the "Silver Ridge" of the Selkirk Mountains some 50 kilometers north of Nelson, B.C.
The Company holds the ground for approximately 1.5 km to the west of this productive zone, to within 0.5 km of the Mammoth Mine. This program represents the first attempt since the early 1990s to explore west towards the Mammoth, Standard and the other major "Main Lode" producers.
The Silvana Mine is one of 29 former producers staked or acquired by the Company within the Slocan Camp. Other assets include extensive exploration lands and a fully permitted 100-tonne-per-day (TPD) flotation mill.
The Silvana Mine produced approximately 8 million ounces of silver and more than 30,000 tons each of lead and zinc from 550,000 tons of mill-feed mined from a 1.5-kilometer section of the "Main Lode" under Silver Ridge. This section was explored, developed and mined almost continuously from 1970 to 1993 by the Silmonac Syndicate and its successors, including Kam-Kotia Mines Limited, Silvana Mines Inc., Dickenson Mines Limited and Treminco Resources Ltd. Sporadic mining has since been conducted by other companies, including Klondike Silver.
The Qualified Person for the purpose of National Instrument 43-101 is Ed Craft, PEng, who has read and agreed with the technical information in this news release.
About Klondike Silver:
Klondike Silver is a member of the Hughes Exploration Group of Companies and is led by a team with a stellar track record of discovery and development in Canada.
Klondike Silver Corp. has assembled a quality portfolio of silver properties in historic mineral districts in North America, and is applying advanced exploration technologies to add value to these core assets. Klondike Silver is reviving the Gowganda and Elk Lake silver camps in Ontario, and the world-famous Klondike district of Yukon Territory. The Company owns a 100 TPD fully operational flotation mill in Sandon, BC, which is currently processing material from local mines in the historic Slocan Silver Camp. As well, Klondike Silver entered into a joint venture with Kootenay Gold Inc. to explore a copper-porphyry property in the state of Sonoro in northern Mexico.
Visit Klondike Silver's web-site: www.klondikesilver.com to see Smartstox interviews with Company President, Richard Hughes.
The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy or contents of this news release.
Contact:
Kevin Hull or Alan CampbellKlondike Silver Corp.(604) 685-2222(604) 685-3764 (FAX)info@klondikesilver.comwww.klondikesilver.comEmail: KS@agoracom.comAGORACOM Investor Relationswww.agoracom.com/ir/KlondikeSilver
call Kevin Hull at Hughes Exploration group
604-685-2222 ext 320
Thanks Doubloon I do have a small speculative possition, Before I expand based upon the little info I do have I wanted to verify.When actualmining will begin
I emailed the company they didn't respond
I can't remember when the last report I received via US mail.
I do remember seeing something about production in 2010, but want to verify when actual mining begins vs more test drilling which is allI see reported..
The company owns 5 mines in the Slocan valley and is currently drilling into one of those structures that looks like a lode structure.
They have an agreement with the Slocan Mill to mill 100 tons per day. The company has just gone from explorer status to mining status and will start to produce shortly (within a month I believe)
Do not discount this company as working 'old' mines; they are part of a group of companies that are the best explorers in Canada with many track records of finding massive deposits.
Do your research.
Call Allen Campbell, he will respond. The other IR guy (Kevin Hull) seems to never respond. I would also tell Mr. Campbell your experience...he is CFO and on the board of directors.
I have asked the company about current production and future plans to mine. They will not respond. Does this company actually mine or just collect old mine tailings as they drill on old prospects?
Klondike Silver Corp. Negotiates New Smelter Contract
- SMELTER BASIC TREATMENT CHARGE MORE THAN 10% LESS THAN PREVIOUS CONTRACT
- MONTHLY SHIPMENTS TO COMMENCE DECEMBER 20, 2009
- COMPANY HAS BEEN ASKED TO CUSTOM MILL MATERIAL FROM REGIONAL MINE
Press Release Source: Klondike Silver Corp. On Wednesday December 16, 2009, 2:54 pm EST
http://finance.yahoo.com/news/Klondike-Silver-Corp-ccn-2350770192.html?x=0&.v=1
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 16, 2009) - Klondike Silver Corp. (the "Company") (TSX VENTURE:KS - News) is pleased to announce it has negotiated a new contract with a regional smelter to process material from their mine and mill site at Sandon, BC. The contract was negotiated with a smelter basic treatment charge more than 10% less than the previous contract. The contract is for the month of December 2009 and all of 2010.
Concentrate milled from the 4755 level will be shipped commencing December 20th with monthly shipments to be continued. Management plans to continue test mining while conducting further underground exploration in the Silvana, Wonderful and Hinckley mines. The concentrate from the material will be shipped to smelter subject to an agreed upon schedule.
The Company will continue its vigorous regional exploration program with emphasis being placed on locating and recovering zinc zones previously ignored due to low prices or penalties being assessed. Management team is pleased with the progress being made in the Silvery Slocan and looks forward to building on its successes.
Custom Milling
KS has been asked to custom mill material from a mine located within 100 miles of the Sandon mill. This milling will take place as soon as all ministry requirements have been met. Custom milling of this material is expected to bring considerable revenue to the Company. Material from the Sandon operation will continue to be the priority for the mill.
About Klondike Silver:
Klondike Silver is a member of the Hughes Exploration Group of Companies and is led by a team with a stellar track record of discovery and development in Canada.
Klondike Silver Corp. has assembled a quality portfolio of silver properties in historic mineral districts in North America, and is applying advanced exploration technologies to add value to these core assets. Klondike Silver is reviving the Gowganda and Elk Lake silver camps in Ontario, and the world-famous Klondike district of Yukon Territory. The Company owns a 100 TPD fully operational flotation mill in Sandon, BC, which is currently processing material from local mines in the historic Slocan Silver Camp. As well, Klondike Silver entered into a joint venture with Kootenay Gold Inc. to explore a copper-porphyry property in the state of Sonoro in northern Mexico.
Visit Klondike Silver's web-site: www.klondikesilver.com to see Smartstox interviews with Company President, Richard Hughes.
The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy or contents of this news release.
Contact:
Klondike Silver Corp.Corporate Inquiries:Kevin Hull or Alan Campbell(604) 685-2222
info@klondikesilver.comKS@agoracom.comAGORACOM Investor Relationshttp://www.agoracom.com/ir/KlondikeSilver
Nice news...a few more shares to chew through.
Klondike Silver Corp. Acquires Timmins Property With Multiple VTEM Anomalies and Historic High-Grade Vein Mineralization
- HISTORIC CHANNEL SAMPLING REPORTED 27.09% LEAD, 6.17% ZINC AND 3.2 OZ/TON SILVER OVER 2.25 FEET
- MULTIPLE AIRBORNE VTEM ANOMALIES OCCUR IN PROXIMITY TO HISTORIC RICH LEAD-ZINC-SILVER VEINS
- POSSIBLE VMS TYPE DEPOSIT, VEINS HOSTED IN FELSIC AND MAFIC VOLCANIC PACKAGE OF ROCKS
Companies:Klondike Silver Corp (Tier2)
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 15, 2009) - Klondike Silver Corp. (the "Company") (TSX VENTURE:KS - News) is pleased to announce, subject to regulatory approval, the option to acquire a 100% interest in the Cleaver Central property, located 30 km south of Timmins, Ontario in Cleaver Township. The property consists of four claims (46 units) and access is via an all-weather road from Timmins.
To view a map of Klondike Silver's newly acquired Cleaver Central property, please click on the following link or cut and paste the link into your web browser:
http://media3.marketwire.com/docs/tw_map_1215.pdf
"Historic high-grade lead-zinc-silver veins in conjunction with never before tested VTEM anomalies make the Cleaver Central property a top priority in Klondike Silver's Ontario exploration plans," comments Company President, Richard Hughes. "It is not yet known whether a relationship exists between these historic veins and the VTEM anomalies, but given their proximity to one another, immediate exploration is warranted. This is an exciting acquisition for the Company as it continues to diversify its portfolio in order to gain maximum exposure to both precious and base metal markets. Drilling has now commenced on our joint-ventured Espiritu property in Mexico and we will soon be providing an update on our Sandon operations, where recent underground drilling has located what is believed to be an extension of the camp's 'Main Lode' structure. We look forward to advancing these properties as well as the Cleaver Central property into 2010 and beyond."
Consideration for the property consists of $105,000 and 400,000 shares, payable over 36 months. There is a 3% net smelter return payable, of which one-third (1%) may be purchased for $1,000,000. A further 100,000 common shares are issuable upon completion of a positive feasibility study.
Klondike Silver plans to carry out ground geophysical and prospecting surveys to assess potential relationships between the mineralization found in historic veins and the VTEM geophysical anomalies.
About Klondike Silver:
Klondike Silver is a member of the Hughes Exploration Group of Companies and is led by a team with a stellar track record of discovery and development in Canada.
Klondike Silver Corp. has assembled a quality portfolio of silver properties in historic mineral districts in North America, and is applying advanced exploration technologies to add value to these core assets. Klondike Silver is reviving the Gowganda and Elk Lake silver camps in Ontario, and the world-famous Klondike district of Yukon Territory. The Company owns a 100 TPD fully operational flotation mill in Sandon, BC, which is currently processing material from local mines in the historic Slocan Silver Camp. As well, Klondike Silver entered into a joint venture with Kootenay Gold Inc. to explore a copper-porphyry property in the state of Sonoro in northern Mexico.
Visit Klondike Silver's web-site: www.klondikesilver.com to see Smartstox interviews with Company President, Richard Hughes.
The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy or contents of this news release.
Contact:
Kevin Hull or Alan CampbellKlondike Silver Corp. (604) 685-2222 (604) 685-2222Email: info@klondikesilver.comEmail: KS@agoracom.comAGORACOM Investor RelationsWebsite: http://www.agoracom.com/ir/KlondikeSilver Buzz up! 0 SendSharePrint
"This time next year it won't make a hill of beans for that fractional cent."
I wholeheartedly agree
I stopped the run up. I moved my low .06 order up to even .07. Soon after my fill we started down. I feel just like that unlucky guy in the old Lil Abner cartoons. It always rains on me. lol
This time next year it won't make a hill of beans for that fractional cent.
Klondike Silver Corp: Drilling Commences on Espiritu Gold-Copper Porphyry Project
- 1000 METER, PHASE ONE DRILL PROGRAM WILL TEST POTENTIAL OF LARGE SCALE PORPHYRY SYSTEM
- EROSION OF THE LEACH CAP HAS EXPOSED ENRICHED SUPERGENE GOLD COPPER SYSTEM
- COPPER VALUES IN SAMPLES TAKEN FROM LEACH CAP IN NORTHEAST ZONE CONSISTENT WITH THOSE TAKEN ABOVE OTHER PORPHYRY DEPOSITS IN NORTHWEST MEXICO AND SOUTHWEST USA
- MINERALIZATION AND ALTERATION OCCUR WITHIN A 1-2 KM BY 5 KM STRUCTURE, TWO ZONES IDENTIFIED TO DATE; NORTHEAST AND SOUTHWEST
- PHASE ONE DRILLING TO DETERMINE THICKNESS OF SUPERGENE ENRICHED LAYER
Press Release
Source: Klondike Silver Corp.
On 9:01 am EST, Thursday December 3, 2009
http://finance.yahoo.com/news/Klondike-Silver-Corp-Drilling-ccn-1076201222.html?x=0&.v=1
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 3, 2009) - Klondike Silver Corp. (the "Company") (TSX VENTURE:KS - News) and Kootenay Gold Inc. (TSX VENTURE:KTN - News; "Kootenay") are pleased to announce the phase one diamond drill program has commenced on the Espiritu Gold - Copper porphyry system in Sonora, Mexico.
"We are excited to be moving forward with a much anticipated drill program on the Espiritu project and look forward to testing the potential large scale porphyry gold-copper system," comments Company President, Richard Hughes. "A significant amount of work has been completed by joint venture partner, Kootenay Gold, to advance the property to this point including sampling of the leach-cap zone which has produced copper values consistent with those taken above other porphyry deposits in northwest Mexico and the southwest USA. Initial drilling on the property will focus on determining the thickness and mineralization grade of the enriched Supergene layer."
Drilling will consist of a minimum 1000 meters of HQ core and comprise of 4 to 6 holes in 4 drill sites 100 to 500 meters apart. It is anticipated it will take 3 to 4 weeks to complete the program.
The Espiritu project is owned 100% by Kootenay Gold Inc. and is under option to Klondike Silver Corp. who have the right to earn a 50% interest in the project by making certain payments and exploration expenditures (March 31, 2008).
Geology
The Espiritu project is host to an extensive area of polymetallic vein, stockwork, breccia and gold-copper porphyry mineralization. The evidence of Silver-Gold enriched veins occurring within and adjacent to the gold-copper porphyry style mineralization significantly enhances the economic value of the project due to the potential existence of a strong precious metal component.
Mineralization and alterations are hosted along a 5 km east northeast trending structure that measures between one and two km in width. Two zones of mineralization have been recognized; the northeast zone dominated by a porphyry setting is separated by a major fault from the southwest zone dominated by veins and stockworks of precious and base metal mineralization. The two zones appear to be genetically related with the polymetallic vein/stockwork systems representing mineralization that would be expected to overlie the porphyry setting.
Northeast Zone
The northeast Espiritu porphyry prospect is a 2.2 x 1.4 km sub-circular area defined by a concentric pattern of zonation diagnostic of copper gold porphyry deposits. The different zones are strong propylite, argillic, sericitic and potassic alteration hosted in a biotite, feldspar quartz porphyry.
Mineralization and alteration covers a 1.5 km x 1 km zone. In the biotite zone of alteration, 19 grab samples from the disseminated and fracture mineralization showed good values of copper (average 0.24%) and gold (average 0.239 gpt). In the argillic/sericitic zone of alteration or leach-cap zone, extensive leaching of the fracture and dissemintated mineralization has taken place, and the average copper content shows values of 0.034%, consistent with the general average copper values within the leach-cap zones that sit on top of known porphyry deposits of the southwest USA and northwest Mexico. The polymetallic veins show anomalous values in gold (to a high of 3.60 gpt) and silver (to a high of 462gpt). All samples are grab samples.
Southwest Zone
The southwestern part of the system is represented by veins, breccias and stockworks anomalous in gold, silver, copper, lead and zinc.
At present, the main mineralization in the southwest is defined by several zones spread out along a 2 km length. These are named the west, central and east polymetallic zones. Anomalous mineralization has been recognized in two other separate zones: the PS-1 zone about 2 km to the northwest and the PS-2 zone about 500 metres to the east.
Two stages of mineralization are noted; one stage marked by mainly quartz veins low in all metal values and a second stage marked by veins, breccias and stockworks of polymetallic gold, silver, copper, lead and zinc mineralization.
Fifty-eight grab samples were collected within the west, central and eastern parts of the southwest polymetallic zone. The polymetallic veins averaged 226 gpt silver, 1.58% lead and 1.57% zinc associated with 0.18 gpt gold and 0.15% copper. From the 35 samples collected from the polymetallic system, 18/35 were greater than 0.100 gpt gold and 29/35 were greater than 30 gpt silver.
The PS-1 area gave values of 0.84, 0.50 and 0.46 gpt gold and 277 and 217 gpt silver associated with anomalous lead (to 6%) and zinc(to 1.5%). The PS-2 zone gave silver values of 686, 644 and 487 gpt and anomalous copper, lead and zinc from thirteen samples has been noted. Anomalous values of molybdenum (to 0-0.129%) were noted from this area.
QA/QC
All samples were placed and sealed with tape into a plactic rock sample bag. Each sample was labeled and catalogued and delivered to ALS Chemex's preparation laboratory in Hermosillo, Sonora Mexico where pulps are made of each sample which were then sent to the ALS Chemex laboratory in North Vancouver, B.C. Canada. Each sample was analyzed with a multi acid digestion ICP AES (Plasma Emission Spectroscopy). Samples with precious exceeding the upper detection limit of the ICP AES are analyzed again using fire assay methods with either atomic absorption, emission spectroscopy or gravimetric finishes for gold and silver. Base metals exceeding upper limits are reanalyzed using a four acid ore grade analysis. All samples referred to herein are grab samples. ALS Chemex is an internationally recognized independent laboratory operating to ISO 17025 quality assurance standards. The drill contractor is Globexplore located in Hermosillo, Sonora Mexico.
The foregoing geological disclosure has been reviewed and verified by Kootenay's CEO, James McDonald, P.Geo (a qualified person for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects). Mr. McDonald is a director of the Company.
The Company would also like to announce it has received approval from the TSX Venture Exchange to extend the term and reduce the exercise price of 5,178,301 warrants issued by the Company which expired on December 4, 2009 (the "Warrants"). The expiration date of the Warrants has been extended to December 3, 2012, and the exercise price reduced to $0.10.
The Company has also completed the private placement announced on October 27, 2009. The private placement consisted of 2,500,000 flow through units at a price of $0.065 per unit. Each unit consisted of one flow-through common share and one non flow through common share purchase warrant. Each common share purchase warrant will entitle the holder to purchase one common share at $0.10 per share until November 10, 2011, and $0.15 per share until November 10, 2014. Union Securities Ltd. was paid a cash commissions totaling $2,925. Shares issued are subject to a hold period expiring on March 12, 2010. Proceeds from the private placement will be used for exploration on the Company's British Columbia properties.
About Kootenay Gold
Kootenay is an emerging exploration Company actively developing mineral projects in the Sierra Madre Region of Mexico and in British Columbia, Canada. The Company is currently drill testing four separate projects. Kootenay's top priority remains the ongoing development of its Promontorio Silver project in Sonora State, Northwest Mexico, which encompasses the former producing Promontorio Silver Mine.
About Klondike Silver:
Klondike Silver is a member of the Hughes Exploration Group of Companies and is led by a team with a stellar track record of discovery and development in Canada.
Klondike Silver Corp. has assembled a quality portfolio of silver properties in historic mineral districts in North America, and is applying advanced exploration technologies to add value to these core assets. Klondike Silver is reviving the Gowganda and Elk Lake silver camps in Ontario, and the world-famous Klondike district of Yukon Territory. The Company owns a 100 TPD fully operational flotation mill in Sandon, BC, which is currently processing material from local mines in the historic Slocan Silver Camp. As well, Klondike Silver entered into a joint venture with Kootenay Gold Inc. to explore a copper-porphyry property in the state of Sonoro in northern Mexico.
Visit Klondike Silver's web-site: www.klondikesilver.com to see Smartstox interviews with Company President, Richard Hughes.
Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy or contents of this news release.
Contact:
Klondike Silver Corp.Corporate Inquiries:Kevin Hull or Alan Campbell(604)-685-2222info@klondikesilver.comwww.klondikesilver.comInvestor RelationsAGORACOMKS@agoracom.comwww.agoracom.com/ir/KlondikeSilver
If they would get on with producing instead of all the drilling, they only need 2 years of reserves to start the mill up but these guys want to mine for the next 30 years I think. Once we see the mill rate up to 100 tom per day and start to get a sense of what the monthly numbers will be, this is still the buying oportunity of the decade.
If they can define this lode structure and it turns into a mother than we have a stock in the low multi dollar range (In my opinion)
The sky is the limit here but what I really like and what drew me to the stock was the low risk, they have 5 mines and a 100tpd mill in place with experianced operators..
picked up more today...
sooner or later - it's going to get recognized
IMO.
silver on its way to record highs...
sooner or later - KLSVF will respond.
I notice KLSVF had income from what appears to be mine tilings.
Will they actually beging minning operations? If so when and where? tia
well said - eom.
Remember, this company is not a one trick pony and there management is not a bunch of fly by nights. They have SEVERAL promising projects. Im not worried at all about this minor dilution considering all of the prospects they have. Most of these other shady companies focus and put all of their funds and energy into one hope or one property. They either hope to hit a home run or they flop and cease to exist. If they have more than one property they still only focus on one and pray that it pans out so they could fund the other projects.
Klondike Silver in my view offers much better odds. They are simultaneously developing and working on multiple project all with great prospects. If just one of them comes through it will be a company maker. They have shown they can raise money to keep developing all of the projects and i think that is a good thing. With attention being paid to all of the projects I think we stand to have a greater chance of success with one or more of them. These guys have done it before and are following the same model here. I view these dips as oppurtunity.
thanks for the update...
always appreciate your insight. Yes - I too add on dips and plan to hold for the forseeable future.
Did a lot of reading on the Hughes Group before I bought - very impressed. Thanks again.
Just got off the phone with Kevin Hull, talking about another stock in the Hughes Group but with Klondike Silver the only thing he would say was that I will do very well with my holding, we talked a little bit about the Mexico drill program and he seemed to get into his guarded mode when I asked about drill results there, soooo reading between the lines of my conversation I have to think that before Christmas we should hear something..and it should be positive,, I continue to add when possible to klondike silver at this level, it is a very low risk long term play (for a mining company)
funding does appear to be an...
issue, like it is with so many others. Even with more shares, the outstanding shares will be much less than so many others.
The silver in the ground is there and they are starting to get it out. silver should hit an all-time high in the near future IMO.
Truly believe this one will shoot up sooner, rather than later, as continued progress is announced.
I think with this one they need to get through their funding first, with 5 mines and a 100ton per day mill they will do great, the latest round of funding will cover the expenses to drill for the lode structure.
The 100tpd mill will reach capacity fairly easily and although the company will not admit to adding a second mill, there is a rumor they are looking into reclaiming a shut in ball mill. That only makes sense if you read between the lines
was hoping to see a move up...
with silver, but looks like a step back first?
now would be good time...
for some good news. Silver rocketing higher.
Thanks Doubloon.
Are these warrants traded? if so, where can I see the market price? tks.
josh 18 go to www.sedar.com click company profiles, klondike silver then look at the document entitled
Nov 2 2009 MD&A - English PDF 258 K
it just will not format properly to read on here
hi, anyone knows how to view klondike silver's warrants? i tried finance.google.com, but can't see it. tks
Montanoree I have a small position here, but not anxious to add with dilution. Once production begins that will be a differnt game. Time frame still to far out for me
>Agree that the American public needs to wake up.
Remember that most people do not manage their own investments, rather they go through 401K's and financial planners. The latter group uses a cookie cutter approach meaning that only established companies, not even including precious metal producers, are left out of the investment array.
What will make this change? I'd say a severe retraction of the dollar. That will occur under the current administration as many of its programs get legislated. What is bad for the country will be good for precious metal investors.
I'm not sitting here hoping that the dollar will retract a great deal. Rather I have calculated that this will occur. There is a difference between science and alchemy and this is science.
I only invest in precious metals as a form of insurance to protect my paltry wealth.
Give it time; profligate spending by Washington and by state governments will drive up inflation. I just hope it does not destroy our society.
sumi
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