Nevada Gold Explorer, Klondex Mines, Appoints Veteran Geologist Ted Wilton as V.P. Exploration
14:40 20.12.11
VANCOUVER, British Columbia & ELKO, Nev.--(BUSINESS WIRE)--
Klondex Mines Ltd. (TSX: KDX, Klondex), a gold exploration company focused in Nevada, announced today the appointment of Dean T. Ted Wilton, as Vice President, Exploration. Mr. Wilton will direct all of Klondexs exploration activities which are currently focused on surface and underground programs at its 100% owned Fire Creek deposit in North Central Nevada.
Ted Wilton has over 40 years of exploration experience, including 25 years focused on gold exploration, of which 10 years were in Nevada. Mr. Wilton has worked for some of the worlds leading gold exploration and mining companies including Freeport McMoRan, Minorco USA/Independence Mining, Kinross Gold, Queenstake Resources USA, Granges US (now Vista Gold) and most recently, Victoria Gold. Ted helped discover seven ore deposits with over 16 million ounces of gold that were developed into mines in northern Nevada and in the Eastern Goldfields region of Western Australia, as well as three gold deposits awaiting development.
Klondex CEO, Blane Wilson, commented, Ted Wilton is a very experienced exploration geologist with an impressive track record of success in discovering and developing gold deposits and building mines. His substantial knowledge and experience developing Nevada gold properties make him ideally suited to direct our exploration efforts.
During his career he has been responsible for exploration and mine geology programs for underground mines at the Jerritt Canyon gold operation in northeastern Nevada and played a key role in the discovery of the Starvation Canyon gold deposit in Nevada. As VP Exploration at Minorco/Independence, Mr. Wilton was responsible for the exploration, geological development drilling and mine geology programs in Nevada, including all phases of exploration at the Jerritt Canyon and Big Springs gold mines, and was involved in the discovery of the Murray, Steer Canyon, SSX, Dash and Smith gold mines.
Mr. Wilton earned his B. Sc. Degree in Geology, with a minor in Mining Engineering, at the New Mexico Institute of Mining & Technology. He is an AIPG certified Professional Geologist, received the Northwest Mining Associations Honorary Life Member award in 2006, and was awarded the 2011 Distinguished Alumni Achievement Award by the New Mexico Institute of Mining & Technology. Mr. Wilton fulfills the requirements of a Qualified Person as defined by National Instrument 43-101 and has authored or co-authored several NI 43-101 Technical Reports for gold and uranium projects.
About Klondex Mines Ltd. (
www.klondexmines.com):Klondex Mines is focused on the exploration and development of its 100% owned Fire Creek gold deposit in North Central Nevada. Fire Creek is a compelling gold mining prospect that is located near power, transportation, mining infrastructure and several milling facilities. Fire Creeks updated mineral resource is reviewed in the table below. For more information on the mineral resource estimates, please refer to Klondexs disclosure available at the SEDAR website and here.
Fire Creek Project - Indicated and Inferred Mineral Resource
as of May 21, 2011
Gold Cut-off Metric Grade
GPT Classification Tonnes GPT Oz. Gold
4.0 Indicated 5,176,050 9.90 1,647,052
4.0 Inferred 1,732,810 8.22 458,084
7.0 Indicated 2,145,283 17.62 1,215,019
7.0 Inferred 555,043 12.54 223,794
In addition to an active surface exploration program at Fire Creek, in April 2011 Klondex initiated an underground exploration and development program being pursued via an underground decline. The program is designed to enable more cost effective in-fill drilling of its existing resource from underground stations as well as to enable bulk sampling for metallurgical testing of up to 120,000 short tons of material (limited to 36,500 short tons per year). Bulk sampling is targeted to begin in Q1 2012.
As of December 19, 2011, Klondex had 46.4 million shares issued and outstanding and 59.1 million shares on a diluted basis.
Richard Kern (P.Geo), of Reno, Nevada, a qualified person as defined under National Instrument 43-101, has reviewed and approved the technical information contained in this press release.
This news release contains forward-looking statements, including about current expectations on the timing of project development. These forward-looking statements entail various risks and uncertainties, are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements. These uncertainties and risks include, but are not limited to, 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; the risks and hazards associated with underground operations. Risks and uncertainties about the Companys business are more fully discussed in the Companys 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 statement or to update the reasons why actual results could differ from such statements unless required by law.
On Behalf of Klondex Mines Ltd.
Blane W. Wilson
President & CEO
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