Motherlode - February 1, 2013 - Chamber of Mines of Eastern BC

February 2013
Page 1 of 12
THE VICE PRESIDENT’S REPORT
A lot has happened that we think is good for mining in the Kootenays recently. Two different junior mining
companies have recently made deals with privately owned groups. See the news releases in this edition of the
Motherlode. At least one of these new owners wishes to go into production rather than just explore and an
existing operation hopes to expand. It would be in the best interest of all of us to do anything we can to support
and help these operations to become viable. Hopefully these folks will be able to sort out any permitting issues
they may have, in short order. Having producing mines in the neighborhood will help convince the public and
government officials that the local mining industry is viable. Each mine that starts up here will bring new
investors to the region and help the industry and the chamber to convince people that with all the mineral
potential around here, it is a great place to explore and start mining. Also very important, Klondike Silver is
currently producing at Sandon at a rate of 40 tons per day and hopes to expand.
The AMEBC Roundup went very well and a special thanks to AME
for putting on a great conference. At BC night our volunteers had a
very busy booth where there was great interest in our Chamber
(see the picture).
The Chamber of Mines Annual Banquet will be held on Saturday
March 23th at the Best Western Hotel in Nelson with Happy Hour
starting at 5:00pm. There are advance ticket sales so the hotel
knows approximately how many are coming. You can get your
tickets from Jane at the Chamber. If you are from out of town and
wish to attend, phone or email to reserve a ticket. Hope to see you
there.
Chamber of Mines of Eastern BC at BC Night
portion of Roundup.
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February 2013
Page 2 of 12
West Vancouver, British Columbia - February 4, 2013 - International
Bethlehem Mining Corp. (the “Company” or “International Bethlehem”) is pleased to announce assay results from the
Company’s initial core drill hole exploration program which was recently completed in November 2012.
The Company’s gold exploration property, which consists of 19 contiguous crown granted claims (the “LH Property”) and
four mineral claims (the “Willa Property”), collectively comprising approximately 1,500 hectares, is located approximately 7
km south of Silverton, British Columbia, on the east side of Slocan Lake (collectively the “Properties”). Access to the
Properties is via Highway 6 for 8 km south of Silverton and then via Red Mountain Road for 2 km and a four-wheel drive
road along Fingland Creek for 5 km.
The Company’s exploration drill program comprised a single, helicopter supported, core drill hole (LH-12-25), which was
drilled to a depth of 246 metres. The assay results for drill hole LH-12-25 are presented in the following table:
Hole Number
From
(metres)
To (metres)
Width
(metres)
Gold (Au)
(g/tonne)
37.00
53.00
59.00
63.58
81.86
83.37
99.00
145.04
149.00
153.23
38.00
92.00
65.00
64.00
90.00
86.50
124.00
163.00
154.00
154.00
1.00
39.00
6.00
0.42
8.14
3.13
25.00
17.96
5.00
0.77
14.700
0.437
0.616
2.501
0.903
1.432
0.152
0.466
1.277
2.555
LH-12-25
including
including
and
including
and
including
including
Drill core was split and sent to Acme Analytical Laboratories (Vancouver) Ltd. The samples were crushed to 75% minus 10
mesh (<1.7mm) and a 250 gram subsample is riffle split then pulverized to 95% minus 150 mesh (<100 microns). Gold
analysis was performed on a 30 gram subsample by fire assay extraction with AA ("Atomic Absorption") finish. Overlimits
(>10 ppm) were re-assayed with gravimetric finish.
Property Geology of the Area
There has been a long history of exploration in the Property area and based on a review of the BC MINFILE Mineral
Inventory database, the Company believes that the primary zone of mineralization within the "LH occurrence" follows a zone
of fracturing, faulting and silicification within a roof pendant of Lower Jurassic Rossland Group metavolcanics. The zone
width is 6.1 to 13.7 metres, striking nearly east-west and dipping north at about 55 degrees. According to the BC MINFILE
Mineral Inventory database records, the disseminated gold mineralization is hosted in quartz lenses and veins 30 to 60
centimetres wide and consists of native gold, arsenopyrite, pyrite and pyrrhotite with minor chalcopyrite and native arsenic.
The Company’s initial drill program focused in an area approximately 700 metres to the south of the LH occurrence, which
the Company believes is a separate and distinct potential gold target occurrence. More at
http://www.bethlehemmining.com/
WE RELY ON THE SUPPORT OF OUR MEMBERS.
PLEASE REMEMBER TO RENEW YOUR MEMBERSHIP.
MEMBERSHIP FORM IS ON PAGE 12 OF THE MOTHERLODE.
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February 2013
Page 3 of 12
Discovery Ventures Inc. Receives Conditional Approval Of Willa Option Agreement
January 23, 2013
VANCOUVER – Discovery Ventures Inc. (“Discovery”, “DVN” or the “Company”) (TSX VENTURE: DVN)
wishes to announce that the Company has received conditional acceptance of the acquisition of mineral claims located in
the Slocan mining district of British Columbia known as the Willa deposit. The mineral property consists of 5,328 hectares
and is located south of the town of Silverton, B.C. (the “Property”). In furtherance of TSX Venture Exchange approval of
share issuances to the optionors of the Property subsequent to the completion of the Phase 2 and 3 work programs under
the option agreement, the Company is seeking shareholder approval at its AGM scheduled for February 15, 2012 for share
issuances that would increase the shareholdings of the optionor above 20% of the issued shares of the Company.
The Company’s submission of the acquisition included a NI43-101 Geological Technical Report completed by Wayne M.
Ash, P.Eng of Ash & Associates Consulting Ltd. and David K. Makepeace, P.Eng. of Micon International Limited.
The deposit has been extensively explored and developed by several operators, including Noranda, Rio Algom, BP
Minerals, Bethlehem Resources Corp., Northair Mines Ltd. and Hudson Bay Mining & Smelting. An extensive database is
under review which covers work that includes 596 drill holes totaling 189,000 feet (57,250 metres) of core drilling and 8,500
feet (2,575 metres) of underground workings, extensive geophysics and sampling consisting of 17,150 analyses for gold,
copper and silver.
Bench-scale metallurgical test-work was conducted by three companies including Lakefield Research, Gary Hawthorn
(Northair Group) and PRA Labs between 1985 and 2005. The results of locked-cycle tests indicated recoveries of 81% Au
and 93% Cu. A concentrate grading 24% Cu was projected from a mineral head grade in the order of 7.0 g Au/t and 0.9%
Cu.
The Company has initiated the permitting process in anticipation of the final TSX-V approval and initiating work at Willa in
early spring. Work will include determination of all the permits required for further exploration and development at the
Property and bulk sampling, and also include commencement with permit applications and negotiations.
Company president Akash Patel comments, ” With the Willa deposit having had historical exploration expenditures of
approximately CDN$ 18 million to develop it to its present status, we believe the project will offer Discovery Ventures
shareholders significant value in today’s exciting gold market.”
David K. Makepeace, P. Eng. and Wayne M. Ash, P.Eng. are the Qualified Persons who have reviewed and approved the
technical data in this news release. For more information see: www.discoveryventuresinc.com
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February 2013
Page 4 of 12
Vancouver – January 25, 2013 - Anglo Swiss Resources Inc. (ASW: TSX-V, ASWRF: PK) (“Anglo Swiss”
or the “Company”) is pleased to announce that it has entered into a definitive agreement dated January 23,
2013 (the “Vending Agreement”) to sell its Kenville Gold Property (the “Property”), located in southeastern BC,
to Eagle Creek Gold Corp. (“Eagle Creek”), a private Alberta based company. Closing of the transaction is
expected to occur before May 15, 2013.
Total consideration for the purchase of the Property is CDN$10,000,000 which shall be satisfied by the delivery to Anglo
Swiss of a $100,000 deposit on signing of the Vending Agreement (received) and $3,900,000 on closing with the balance
payable in stages to June 1, 2016.
Additionally, Eagle Creek shall pay Anglo Swiss a perpetual 1% Net Smelter Royalty on all production from the Property.
Eagle Creek is committed to invest a minimum of $5,000,000 into mining operations on the Property and to make all
reasonable efforts to initiate one hundred (100) tonnes of production per day from the underground vein structures
contained within the Property.
Jari Paakki, CEO commented, “We are extremely pleased to have entered into an agreement with Eagle Creek. The
Kenville Gold Property is a perfect fit for a private company with the goal of achieving small-scale production. The
transaction provides Anglo Swiss with appreciable short term cash allowing us to identify and acquire a new asset with the
potential for larger scale production and to advance the Company’s Blu Starr Flake Graphite project as well as a further long
term royalty payment. Cash payments into 2016 provide the Company with sustained working capital, minimizing near-term
financings and share dilution. This is an exceptional opportunity that we believe will greatly improve the Company’s future
ability to grow and increase shareholder value.”
Completion of the transaction is subject to a number of conditions, including, but not limited to, confirmatory due diligence,
the receipt of all required regulatory approvals, including the approval of the TSX Venture Exchange, and approval of the
shareholders of Anglo Swiss.
Each party will pay its own costs and expenses in connection with the transaction. In addition, the parties have agreed that
Anglo Swiss will pay Eagle Creek a break fee if the transaction is not completed under certain circumstances, and Eagle
Creek has the right to match any Superior Proposal for the Property.
Additional information regarding this proposed transaction will be provided in the management information circular that will
be mailed to registered shareholders and filed on SEDAR at http://www.sedar.com. more at http://www.anglo-swiss.com/EE/
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February 2013
Page 5 of 12
KLONDIKE GOLD CORP.: 2012 SOUTH EAST BC GOLD EXPLORATION
Klondike Gold Corp.'s exploration in 2012 involved preliminary evaluation of a gold prospect located on the
company's wholly owned Lewis McNeil Creek property in the Purcell Mountains of Southern British
Columbia. The Brook zone is spread across 15 claims where exploration consisted of geological mapping,
a ground VLF-EM (very-low-frequency electromagnetic) survey, prospecting and sampling.
Lewis McNeil Creek has traditionally been explored for Sullivan-type massive sulphide mineralization. Recently, however,
exploration has focused on gold vein and intrusive-related mineralization with the recognition of a gold province, informally
referred to as the Central Purcell gold belt, which stretches southwest from the historical placer mines in the Northern
Hughes Range into the central part of the Purcell Mountains. The main mineralized zone on the Brook zone is a northtrending vein-shear system that was trenched in the early 1980s. Detailed mapping this past season indicates that the zone
comprises several veined, altered and mineralized shears that are exposed in a zone up to 15 to 20 metres in width. The
zone is partially exposed in historical trenches through a strike length of approximately 300 metres. Mapping and the ground
magnetic survey indicate that its width increases considerably in size and grade where cut by northwest-trending faults.
Several of these crosscutting faults are recognized including the immediate area of trenching where alteration and veining
approach 60 metres in width and approximately one kilometre to the north where quartz veins with visible gold were
discovered.
A total of 15 chip and grab samples were taken from the zone in the area of the historical trenching. The highest gold value
from the detailed sampling program came from a 20-centimetre-wide goethite-bearing quartz vein that assayed 15.3 grams
per tonne gold. Three other chip samples contained values greater than one g/t Au (1,011 to 6,004 parts per billion Au) with
several others containing gold over 100 ppb. Samples collected in small exposures along strike also contained anomalous
gold content, to 778 ppb in a sample one km to the north and 2,248 ppb Au in a sample approximately one km south of the
main zone.
The results of the 2012 exploration program are described in a recently completed provincial government assessment
report. This report recommends further work on the property, including extension of the ground geophysical survey north
and south of the main mineralized zone into areas of extensive overburden and little outcrop, trenching to determine the
extent of the mineralized zone, geological mapping, and considerably more sampling. Based on results from this expanded
program, diamond drilling along the inferred two-kilometre-long length of the zone may be warranted.
The Brook zone is one of several gold prospects that are being actively explored by Klondike Gold in the Purcell Mountains
of southeastern B.C. These include extensions of the Thea gold vein system, located approximately 15 km southwest of
Brook, the Quartz Mountain area 20 km to the north that contains the small past-producing Prices pit and Golden Egg
deposits, and the Northern Hughes Range east of the Rocky Mountain trench.
Trygve Hoy, PEng, is the qualified person for the purposes of this news release. For more information see:
www.stockwatch.com
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February 2013
Page 6 of 12
Duncastle Signs Production Agreement for Yankee-Dundee Mine in Southeast BC
Duncastle Gold Corp. (“Duncastle”) (DUN:TSX.V) announced today that it has signed
a Letter Agreement (the “Agreement”) with Armex Mining Corp (“Armex”) whereby Duncastle intends to sell 100% of its
interest in the Yankee-Dundee Project in Southeast British Columbia to Armex in exchange for advance royalty payments,
royalty payments, and production payments.
The Yankee-Dundee Project includes numerous past-producing, high-grade mines including the two largest mines in the
Ymir Camp, being the Yankee Girl and the Ymir mines. The Ymir camp produced 883,000 tonnes of ore at an average
grade of 10 g/t gold and 60 g/t silver for a gross total production value of over $500 million at today’s prices according to
historical government records, ranking it as the largest silver producing camp in the British Commonwealth for a period
during the 1930s. Duncastle consolidated most of the Ymir camp and completed numerous drill programs, totaling over
7,700 meters in 48 holes and identifying a high-grade extension of the Yankee Girl mine that is near existing mine workings.
Duncastle personnel inspected some of the mine workings in 2006 and found them to be in very good condition. Armex
plans to use these workings as a basis for underground exploration and mining activities.
Terms of the Agreement with Armex include the following:
1. Grant a 2.5% NSR royalty to Duncastle on production from the mine, with Armex holding the right to repurchase the
royalty at any time on the basis of $1,000,000 for each 1% NSR;
2. Pay Duncastle advance royalty payments as follows:
a. $50,000 on or before February 28, 2013, failing which Duncastle will receive 500,000 common shares of a
publicly listed company to be identified by Armex ("Pubco");
b. $50,000 18 months after a notice of work (permit) is granted; and
c. $50,000 on the anniversary of the second payment and annually thereafter until the commencement of
commercial production.
3. Advance royalty payments under 2b) and 2c) that are not made within 60 days of their respective due dates can be
completed by issuing the equivalent number of shares in Pubco to Duncastle, calculated at the prevailing market
price at the time of issue.
4. Pay Duncastle production and additional payments as follows:
a. $250,000 upon the commencement of commercial production;
b. $250,000 upon the first anniversary of commencement of commercial production; and
c. additional production payments aggregating $1,000,000 payable from 30% of net revenues as defined in
the Agreement;
5. Armex has the right to satisfy the production and additional payments by paying the aggregate sum of $1,250,000
any time during the first year of commercial production.
6. Armex shall assume all of Duncastle’s obligations per the existing option agreement between Duncastle and BGM
Diversified Energy for those claims subject to that agreement.
All share issuances contemplated by the Agreement are subject to TSX and regulatory approval.
Duncastle President Michael Rowley reported “We are very pleased to have vended the project to Armex, who have the skill
set to advance the project to production, in exchange for a potentially healthy return on our investment in the historic Ymir
Camp. The advance royalty payments will make a very real difference to our budget in the short term, and the larger
payments from potential production could provide cash flow that is significant to our operating needs.” More at
http://www.duncastlegoldcorp.com/en/index.php
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February 2013
Page 7 of 12
HULDRA SILVER SHIPS 127 TONNES OF LEAD/SILVER CONCENTRATES AND 90 TONNES OF
ZINC CONCENTRATES IN JANUARY AND ACHIEVES SIGNIFICANT IMPROVEMENTS TO MILL
OPERATIONS
Vancouver, British Columbia – February 5, 2013 – Huldra Silver Inc. (TSX-V:HDA) (the “Company”) is pleased to announce
that during January, 2013, an estimated total of 127 dry metric tonnes of lead/silver concentrates and an estimated 90 dry
metric tonnes of zinc concentrates have been shipped to a smelter under the terms of previously announced concentrate
purchase agreements. The Company has received provisional payments representing approximately 85% of the total
receipts for the first 195 dry metric tonnes of lead/silver concentrates and 147.3 dry metric tonnes of zinc concentrates
shipped to date. Concentrates continue to be shipped on a regular basis. The Company will receive final receipts for
November, 2012 and the first half of December, 2012 during February, 2013 based upon current metal prices. Once
independent assays have been confirmed, the Company will begin publishing trailing revenues.
The Company continues to make adjustments to the mill equipment and processes to maximize metallurgical recovery and
throughput. Since the last update a number of permanent adjustments to the operation have been implemented. The
Company has also made significant progress to deal with moisture in the mill feed. The gravel screening plant has been
moved from the aggregate pit and is now in place sorting up to 150 tonnes per hour of raw mill feed into finer and coarser
material. The finer material is being directly fed into the mill via a secondary hopper and the coarser material is being put
through the regular crushing circuit. With two sources of feed to the mill, the Company expects output will be significantly
increased over the coming weeks. There are still minor modifications and adjustments being made to the equipment and
processing that require brief stoppages. However, the total utilization of the mill continues to increase. The Company
expects to announce commercial production in the first quarter of 2013.
On behalf of the Board of Directors of HULDRA SILVER INC. http://www.huldrasilver.com/
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February 2013
Page 8 of 12
February 05, 2013
New Gold, Copper, Molybdenum, REE Targets Defined at GWR's Lac La Hache Project
LAC LA HACHE, BRITISH COLUMBIA -- GWR Resources Inc. (the "Company" or "GWR") (TSX
Venture: GWQ) is pleased to report highly encouraging results from new Ah-horizon geochemical surveys at their Lac La
Hache Project. Please refer to several NEW supporting images with additional descriptions in a new presentation at
www.gwrresources.com/s/Presentations.asp.
Last year GWR significantly expanded the Lac La Hache project, through acquisition of a large and highly prospective
surrounding area (see Jan. 23. 2012 News Release). Despite excellent potential, exploration within the new ground prior to
our acquisition was very sparse, inhibited by overburden and young volcanic rock cover. To improve exploration vectoring,
in late 2012 (see Oct. 4 and Nov. 29, 2012 News Releases) we completed a property-wide Ah-horizon soil survey, a method
that has been gaining acceptance as new studies demonstrate successful detection of blind mineralization in similar settings
throughout the Quesnel Trough.
In October, GWR staff and contractors trained by Dr. Colin Dunn, an expert in the method, collected nearly 1200 samples
2
2
on 500 m centers throughout the 400 km (154 mi ) property. Samples, field duplicates and quality control standards were
analysed by ALS Labs Vancouver for 51 elements. Dr. Dunn's preliminary interpretation report entitled "Soil Geochemical
Survey, Ah Horizon -- Lac La Hache, British Columbia, January 2013" is available for viewing at
www.gwrresources.com/s/TechnicalReports.asp. In addition to valuable bedrock mapping assistance the new multi-element
geochemical patterns define discrete anomalies over known Cu (+/-Au, Ag) zones, demonstrating that the method is
working. More importantly, new anomalies are indicated in several areas. For more information see:
http://www.newgold.com/
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February 2013
Page 9 of 12
Vancouver - February 5, 2013 - Imperial Metals Corporation (III-TSX) reports results from
(1)(2)
exploration below the south end of the Springer pit at Mount Polley.
The drilling has confirmed that
mineralization in this area extends well below the planned Springer pit bottom and further to the east in
the vicinity of drill hole SD12-147.
The final phase of 2012 surface exploration drilling was conducted in the south end of the active Springer pit and tested
areas both within the current mine plan and also below the proposed Phase 5 Springer pit. Drill hole SD12-147, drilled along
the eastern edge of the known Springer mineralization, intercepted 446.3 metres grading 0.34% copper and 0.31 g/t gold.
Prior to this drilling, the resource block model relied on an older, short drill hole with lower copper grades and no gold assay
data, so the effect of hole SD12-147 on the pending block model update will be to extend the copper/gold mineralization
both to depth and to the east and provide better copper/gold grade information.
All holes drilled in this program intersected long intervals of copper/gold mineralization above the current mine cut-off
grades, as shown on the table below. The copper oxide level averaged 6.5% over the long intervals, shown on the table,
which is much less than the average copper oxide level of 14% in the ore delivered to the mill in 2012. The lower oxide level
results in better copper recovery in the flotation circuit. Also, some holes intercepted shorter intervals with copper grades
averaging over 1% as highlighted by SD12-152 which intercepted 67.5 metres grading 1.27% copper and 0.90 g/t gold well
below the planned pit, and hole SD12-150 which intercepted 31.9 metres grading 1.20% copper and 0.84 g/t just below the
planned pit, and SD12-157 which intercepted 23.5 metres grading 1.20% copper and 1.16 g/t gold within the planned
Springer pit.
Diamond drilling at depth below the Springer pit has confirmed the mineralization continues for several hundred metres
below the current mine plan and is notably higher grade in certain areas than is assumed in the resource block model. This
exploration drilling data will be used to support an updated resource and mine model, currently in progress. Eight of the 11
holes reported ended in copper/gold mineralization. Underground exploration drilling from the Boundary zone workings has
recently restarted.
Steve Robertson, P.Geo., the designated Qualified Person as defined by National Instrument 43-101 for the exploration
programs, has reviewed this news release. Mount Polley samples for the diamond drilling reported were analyzed at the
Mount Polley mine laboratory. A full QA/QC program using blanks, standards and duplicates was maintained for all diamond
drilling samples submitted to the labs. The porphyry and breccia related mineralized areas at Mount Polley are irregular in
shape and true thicknesses have not been estimated.
Imperial is an exploration, mine development and operating company based in Vancouver, British Columbia. The Company
operates the Mount Polley open pit copper/gold mine in BC, the Sterling gold heap leach mine in Nevada, and has a 50%
interest in the Huckleberry open pit copper/molybdenum mine in BC. Imperial's Ruddock Creek lead/zinc property in BC is a
(50/50) joint venture. In 2012 Imperial commenced construction of the Red Chris copper/gold mine in BC, with a mid-2014
completion target. Documents available on www.imperialmetals.com:
MARK YOUR CALENDARS!!!
The 26th Annual KEG Conference & Trade Show
will be held on April 9th - 10th 2013
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February 2013
Page 10 of 12
Toronto, Ontario – January 21, 2013 – PJX Resources Inc. (“PJX” or the “Company”) is pleased to
announce assay results from the first two drill holes of a program designed to test an eight kilometre
zone of coincident anomalous geophysics and surface gold mineralization on the Zinger Property in
Cranbrook, British Columbia.
The two NQ diamond drill holes (ZG12-01 and ZG 12-02) were drilled to test separate sedimentary horizons with gold
mineralization potential and to validate gold mineralization intersected in previous drilling by Chapleau Resources Inc. in
2003. Historical data obtained from the Government of British Columbia’s Geological Survey Branch Assessment Reports
Maps show Chapleau’s hole intersected 0.48 g/t gold over 17.5m in altered sediments from 7.5m to 25m.
Hole ZG12-02 intersected 2.92 g/t gold over 2 m within a broader interval of 0.50 g/t gold over 22.38m from a depth of 2.62
m (bedrock) down to 25 m. Additional anomalous gold mineralization was intersected sporadically in the 188 m long hole
including a 9 m section with a weighted average grade of 0.38 g/t gold from 158 to 167 m (See drill result summary in Table
I below). The gold mineralization appears to be associated with quartz veining and/or flooding in folded and sheared
siltstones and argillites. The sediments are variably silicified and altered with sericite, chlorite and iron-carbonate.
Hole ZG12-01 was drilled between 2 widely spaced holes drilled by Chapleau Resources in 2003 (Z-03-13, Z-03-14). The
96 m hole intersected quartz, sericite, hematite and iron carbonate altered sediments with sporadic narrow intervals of
anomalous gold mineralization up to 0.35 g/t over 1m. Although gold mineralization was limited, the geological information
and results from ZG12-01 will be further evaluated and compared to those of ZG12-02 to help identify factors that control
gold mineralization.
Sections of the holes are being prepared and will be placed on the company’s web site in the coming weeks.
Company President and CEO, John Keating, comments, “This initial gold intersection is very encouraging as it occurs
proximal to a fold structure recently mapped at surface in the fall of 2012. Gold deposits often occur along fold structures.
The strike of the folding is also coincidental with the 8 km trend in gold mineralization from surface sampling. These results
will allow us to assess possible factors that influence gold mineralization and help prioritize additional targets to test along
strike this year.” more at http://pjxresources.com/
ANNUAL SPRING BANQUET 2013
SATURDAY, MARCH 23rd, 2013
Best Western
153 Baker St. Nelson, BC
SOCIAL MIXER AT 5:00 PM
DINNER 6:00 PM
Come and join us for a fun filled evening to include guest speaker, David W.
Johnston, President, Rainbow Resources Inc.
We are now accepting donations for our usual lively auction.
Tickets are only $30.00 and are available at the Chamber of Mines of Eastern
British Columbia, 215 Hall St., or order by phone at 250-352-5242.
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February 2013
Page 11 of 12
January 29, 2013
Klondike Silver Corp. Increases Production at the Silver Slocan Mining Camp, British
Columbia
January 29th 2013: Klondike Silver Corp. (TSX-v symbol: KS) (Klondike) is pleased to announce that it has increased its
underground mining operations at the Silvana Mine located in the Silver Slocan Mining Camp. Klondike is now producing at
a rate of 40 tons per day through its 100% owned mill, the "Sandon Mining Complex", the only fully permitted mill in Sandon
which has the capacity to process up to 100 tons per day. The milling process produces a Silver/Lead and a Silver/Zinc
concentrate which are then transported to Smelting Plant located in Trail, British Columbia. The Silver/Lead concentrate
holds approximately 100-125 ounces of Silver per dry metric ton and the Silver/Zinc concentrate holds approximately 50-60
ounces of Silver per dry metric ton.
Klondike currently holds three mining permits within its Silver Slocan Mining Camp which are the Silvana, Hinkley, and the
Wonderful. Current production is primarily coming from the Silvana mine which is nearest to the Mill in Sandon, producing
approximately 40 tons per day from the 4755' adit level.
Klondike Silver has generated revenues of approximately $2.45 million dollars from selling its concentrates in 2012.
Approximately 53,620 ounces of Silver, 136 metric tons of Lead, and 253 metric tons of Zinc have been sold.
Klondike may elect to increase the mill capacity to 250 tons per day with the addition of a larger ball mill and other
upgrades. It is the company's intention to develop many of the old silver mines within the Camp by way of cash flow
generated through production and new partnerships.
It is the vision of management to revive the historic "Silvery Slocan" Mining Camp into the major mining camp that it was
intended to be all those years ago. Through using modern geochemical and geophysical techniques, coupled with the
economic potential for the price of Silver to increase, the capacity exists to enlarge the "Silvery Slocan" into a major silver
mining camp for Canada. For more information go to http://www.klondikesilver.com/s/Home.asp
NOTICES
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February 2013
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INDIVIDUAL MEMBERSHIP
$ 40.00 ___________
SMALL CORP MEMBERSHIP (2-10 EMPLOYEES)
$100.00 ___________
SMALL CORP MEMBERSHIP (11-30 EMPLOYEES)
$200.00 ___________
MEDIUM CORP MEMBERSHIP (31-50 EMPLOYEES)
$300.00 ___________
LARGE CORP MEMBERSHIP (51+ EMPLOYEES)
$500.00 ___________
Date……………………………………………………….
$___________
THANKS FOR YOUR SUPPORT ----- Chamber of Mines of Eastern BC
MINING: GOOD NEIGHBOUR AND PROVIDER TO THE WORLD
WWW.CMEBC.COM